You may have noticed when you’re watching TV commercials or flipping through magazine ads that brands are marketing directly to LGBTQ consumers. From Honey Maid’s 2014 “This Is Wholesome” ad, which showcased a same-sex couple with children alongside other families, to hotels and airlines specifically courting LGBTQ travelers, we’re seeing a shift toward inclusion in the marketing industry.
LGBTQ – these five letters represent incredible diversity.
So how can marketers be inclusive and authentic when they’re marketing to this population? When we consider that the total buying power of LGBTQ adults in the U.S. was estimated to be $830 billion in 2013, it’s a question worth asking.
Our recent trend deck explores these topics while filling in important information from “What does the Q mean?” to legal and civil rights, health and well-being, and financial issues for this diverse group. Key findings include:
- A recent study found that 47% of LGBTQ adults are more likely to consider purchasing products or services when they see an advertisement tailored to an LGBTQ audience. However, demonstrating a commitment to this market goes beyond inclusive advertising: Many consumers expect political advocacy, like rejection of state legislation that would allow business owners to refuse to serve LGBTQ customers, and internal policies that support LGBTQ employees and their partners.
- Although the LGBTQ population may earn less overall, it does tend to have more discretionary income. Changing demographic patterns are also influencing spending. There has been a massive rise in marriage and parenting among LGBTQ couples in recent years: The number of married same-sex couples more than tripled between 2013 and 2015.
- While many consumers were satisfied to see any representation of LGBTQ people a decade ago, today there’s a growing sensitivity toward one-dimensional representations. Companies must go beyond the typical focus on white, affluent, partnered gay men. Also, they must realize that consumer choices among the LGBTQ population are shaped by a far more complex set of factors than sexual orientation or gender identity alone.
For more insights about this diverse population and marketing implications, request the full report.
September 14, 2016 | Research