Inclusive Innovation: A Moral Imperative That's Also Good For Business

We cannot in good conscience stay on the sidelines as Diversity, Equity, and Inclusion (DEI) initiatives come under intense fire. Across industries, we’ve seen attacks on corporate DEI programs, politically-motivated backlash, and claims that inclusivity efforts are distractions from "real business priorities." At CoinJar Insights, we stand firmly in support of efforts to make businesses—and the products and services they offer—more inclusive. Not just because it’s the right thing to do (which should be enough). It’s also good for business.

The Business Case for Inclusive Innovation

Beyond the moral imperative, inclusivity can be a strategic advantage. Companies that prioritize equity and diversity in innovation don’t just improve workplace culture—they drive measurable business impact.

1. Inclusive Companies Perform Better

A growing body of research shows that diverse teams outperform homogeneous ones in problem-solving, decision-making, and financial performance. A McKinsey study found that companies in the top quartile for ethnic and gender diversity were significantly more likely to outperform their competitors on profitability.

2. Bigger, More Loyal Markets

When brands fail to recognize or serve diverse audiences, they leave billions of dollars on the table. Consumer groups that have historically been overlooked—including people with disabilities, multilingual communities, LGBTQ+ customers, and aging populations—are eager to spend with brands that acknowledge their needs. Companies that proactively design for inclusion tap into new market segments and long-term loyalty.

3. Innovation Thrives on Different Perspectives

If your team is composed of people with similar backgrounds, assumptions, and experiences, their innovations will likely reinforce the status quo. But when companies bring in a broader set of perspectives—including those who have been systematically excluded from design and decision-making—the result is better, more breakthrough products and services.

Our Role

Inclusive innovation can’t be reduced to a one-off initiative or a compliance checklist. And the defense of DEI and inclusive innovation requires dedicated action in spheres (political, moral, activist) that we have little right to claim any authority in. But for our small part, we’ll make the argument here that our strategic focus – the embrace of Catalytic Customers – can be one part of the solution to ensure product teams maintain a commitment to inclusivity, regardless of what happens on the political front.

How Catalytic Customers Can Make a Difference

Catalytic Customers are those highly engaged, deeply knowledgeable, and constructive critics that can be identified in any category. They aren’t just early adopters, paid influencers, or brand ambassadors. Rather, they are advocates for improving products to better serve what customers need. Time and again, we’ve seen companies bring these forward-thinking customers into their research and co-creation efforts, resulting in noticeable improvements in the products and services developed. And frequently in ways that serve the needs of historically under-represented customers.

Among the ways we’ve seen Catalytic Customers help advance inclusivity in product and service development are:

• Spotting Exclusion Before It Happens – Catalytic Customers bring a sharp eye for usability gaps and bias in product design, flagging features that unintentionally exclude marginalized users.

• Elevating Overlooked Needs – They bring firsthand insights into barriers that mainstream research might miss, ensuring that design and functionality reflect diverse user realities.

• Challenging the Status Quo – Unlike traditional focus groups, Catalytic Customers push for meaningful change, advocating for products that work better for more people.

But Let’s Be Clear, This Is Only a Small Part of the Fix

Relying on Catalytic Customers alone is not a substitute for structural change. Inclusive innovation requires real investment:

• Diverse Hiring & Leadership – Teams making product decisions need to reflect the diversity of their customers.

• Accessible Research & Testing – Product testing must go beyond the "average user" and include people with different abilities, geographies, and lived experiences.

• Accountability & Measurement – Businesses must continue track and report on inclusion efforts (despite pressure to do otherwise), not as a PR move, but as a strategic business commitment.

Our Offer

As the attacks on DEI rage on, businesses face a choice: retreat or double down. We firmly believe that the companies that prioritize inclusivity aren’t just doing the right thing—they’re future-proofing their success at the same time. It's a win on both moral and commercial grounds.

At CoinJar Insights, we’ll continue to do our part to advocate for the doing the right thing and support under-represented populations and champion minority points-of-view. If we can help you leverage Catalytic Customers to do your part, let us know. And if you are pursuing development efforts specifically advancing diversity, equity and inclusion goals, we're happy to offer our advice pro bono, and to provide our services at cost.

It’s the small role we can play.