Industries and approach to the LGBT Market
More than half of people proactively investigate Corporate behavior before making a decision to purchase a product or service, with numbers going up to nearly 75 percent of consumers in certain industries. Nearly 40 percent of people will refuse to do business with a company once they learninformation about how a company conducts its business. Because of the loyalty of the LGBT market and the purchasing power that comes with it, no industry or level of global commerce can safely ignore the influence of the LGBT demographic. No enterprise can avoid the direct impact – both positive or negative – by the disposition of the gay consumer force. The reputation of corporations and companies matter to you, your customers, employees, potential hires, business partners, allies, and investors. A positive reputation provides competitive advantages. A poor reputation can result in loss of customer loyalty or a complete boycott on purchasing products and services at all.
Some of the ways industry reputation is evaluated by consumers include level of social responsibility, quality or the products and/or services, leadership and vision, emotional appeal, and workplace culture/environments. Unfair workplace conditions and/or non-inclusive workplace policies, for instance is one of the most damaging sources of Corporate reputation.
One way for companies to avoid backlash in marketing and advertising as it pertains to each industry reaching the LGBT market is to remain authentic. Real gay or lesbian individuals, including openly gay celebrities or leaders, means true representation that is not based on stereotypes or misconstrued definitions as to what a relationship looks like. Not clearly defining relationships between two people and maintaining ambiguity can assist in education and acceptance, especially when used in everyday situations between people.
Our campaign teams are custom tailored and handpicked to meet the high standards of expected product and service knowledge for each particular industry. From the Creative Director to the Programmer, OUTBrands understands how each industry operates with regard to the following industries and the LGBT market:
- Consumer Goods
- Financial Services
- Healthcare and Life Sciences</li>
- Media and Entertainment
- Retail and eCommerce
- Technology and Telecommunication
- Travel and Leisure
Prefer talking to reading? contact us to discuss your specific LGBT marketing needs.