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Quora Question Answered:

How Do I Effectively Connect with Fortune 500 Supplier Diversity Managers?

Rossie Welch

Rossie Welch

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Connect with fortune 500 diversity managers

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Have you ever wondered how you can effectively reach out to Fortune 500 companies? Most SMEs can only dream of reaching out and pitching to big corporations that fall under the Fortune 500 companies list. However, there is one foolproof way to make that a reality!
These multinational conglomerates usually depend on supplier diversity managers to identify diverse suppliers ready to supply. Ergo, if you are a small B2B owner who wants to build a connection with Fortune 500, it is vital to reach out to the supplier diversity manager.
Reaching out to them will extend your brand reach to these successful multinational companies. These professionals are experienced in working with minority and underrepresented businesses. Therefore, you can help your company build B2B connections with the decision-makers of a particular industry.
Supplier diversity managers are vital to corporate growth as they give you several opportunities and bring business equality. In this infographic, we will analyze why connecting with supplier diversity managers of Fortune 500 companies is beneficial.

What Is a Fortune 500 company?

Fortune 500 companies refer to the list of most prominent companies in the US compiled by Forbes magazine annually. The list of Fortune 500 companies is decided based on their annual revenue for the particular fiscal year. Being on the Fortune 500 is considered a mark of prestige as it puts the company on a global pedestal.
According to Fortune, this year, Fortune 500 companies generated a record $16.1 trillion in revenue and $1.8 trillion in profits. The list of companies in the Fortune 500 in 2022 includes Amazon, Walmart, Apple, CVS Health, Exxon Mobil, Berkshire Hathaway, UnitedHealth Group, and Alphabet, among others.

Who Are Supplier Diversity Managers?

Who are fortune 500 company diversity managers?
Supplier diversity managers help a business or organization procure goods and services. These professionals bring about social responsibility to the company and enable the company to become a competitive leader in the marketplace. In simpler words, they act as a supply chain that incorporates businesses owned by diverse individuals or groups such as the government, not-for-profits, small businesses, and private companies.

Why Do Fortune 500 Companies Need Supplier Diversity Managers?

Most Fortune 500 companies have a supplier diversity manager as they help the company secure the inclusion of diverse groups in the procurement plans. These managers act as companies’ third-party certification agencies ensuring their suppliers are certified.
These conglomerate companies are now taking the initiative of helping diverse and small businesses as it can aid in their communities’ economic recovery and sustainability. A diversity supplier study by the Hackett Group showed when companies increase their diverse spending, they can see an increase in market share. Supplier diversity benefits a Fortune 500 company because it:
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    Promotes the innovation of new products, services, and solutions

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    Provides the company with multiple channels to procure good quality products and services

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    Brings about economic growth and social responsibility

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    It gives the company a competitive advantage with diverse supply chains

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    Allow the company to meet the needs of emerging or shifting world populations

Benefits of Connecting with Supplier Diversity Managers of Fortune 500 Companies:

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    They can aid you in sourcing new and exciting projects and increase the company's diverse supply chain.

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    Promote collaboration between your company and Fortune 500 companies.

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    They authenticate that your business is owned, managed, and controlled by a qualified diverse group.

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    Supplier diversity managers can give your company access to capital and networking opportunities.

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    Interacting or engaging with them can aid you in bringing about brand awareness because it encourages the growth of various businesses.

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    Building relationships with the right supplier's diversity managers can expand businesses.

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How Do I Effectively Connect with Fortune 500 Supplier Diversity Managers?

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1. Take Part in Sponsored Outreach Events

Sponsored outreach events such as webinars, presentations, seminars, or workshops are hosted on online platforms such as Zoom, WebEx, Demio, etc. These business-oriented events are held specifically to increase awareness and effectively promote their products and services. Professionals use such platforms for lead generation, seminars, workshops, and interactive sessions with the decision-makers of their industry. They are ideal for building connections and introducing your company or its products and services to the supplier diversity managers.

2. Build Email Lists

Having the right information at your fingertips can steer your conversation in a meaningful direction. Hence building a contact database from scratch can benefit you in reaching out to the right decision-makers and making better sales pitches. You can collect supplier diversity managers’ email addresses by checking their LinkedIn or Twitter profiles, calling their front office, and using email extraction tools.

3. Purchase Email Databases

A contact database can help you avoid spammy profiles, but building it is time-consuming. Therefore, you can purchase a professional B2B contact database that is verified, accurate, and constantly updated. Some database providers, such as DataCaptive, provide an option to customize their contact database on their target audience. All you will have to do is choose a contact targeted towards supplier diversity managers towards Fortune 500 companies.

Top Supplier Diversity Companies

These companies are rated based on the kind of small businesses they support, such as businesses owned by women, minorities, LGBTQ+, veterans, and disabled persons. The top supplier diversity companies are:
Top-Supplier-Diversity-Companies

End Note

Once you find the direct email address of supplier diversity managers, send them emails about your successes with their peers in the marketplace. While reaching out to them, include information about your product and service, what pain point they solve, cost savings, cost avoidances, and any process improvements.
Mention if your company has an internal stakeholder or buyer and that you can build a connection with them easily. Building a relationship with a supplier diversity manager may be arduous. Still, it can help you connect with big Fortune 500 companies and grow your business in the long run.

FAQs

Fortune 500 companies refer to the list of most prominent companies in the US compiled by Forbes magazine annually. The list of Fortune 500 companies is decided based on their annual revenue for the particular fiscal year.
The top companies in the Fortune 500 in 2022 are Amazon, Walmart, Apple, CVS Health, Exxon Mobil, Berkshire Hathaway, UnitedHealth Group, Alphabet, McKesson, and AmerisourceBergen.
According to an annual diversity report by Purposebrand, 79 Fortune 500 companies have a DEI (diversity, equity, and inclusion) program, meaning 1 out of 6 publish annual DEI reports, marking their progress.
Yes, companies with more diversity are successful because they can see steady economic growth and an increase in market share. According to McKinsey & Company, the most diverse companies outperform their less diverse peers by 36% in profitability.
IBM is one of the best companies fostering diversity in the supply chain.
Companies such as Accenture, Comcast NBCUniversal, EY, Cox Communications, PwC, AT&T, Hilton, Eli Lilly and Co., Cummins, and CVS are among the few companies that are said to have the embracing diversity.
Drive more conversions, build awareness, and generate higher-quality leads with the most accurate and verified email database! Our contact databases will help you fulfill marketing goals and extend your professional network! Send us your requirements!
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Rossie Welch
Rossie Welch is an influencer and writer known for her expertise in storytelling and creating engaging content. As a part of the business development team, Rossie specializes in offering strategies, tips, and insights related to B2B marketing that will help you boost your outreach strategies.
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