Are you Putting “Pride” into your Marketing?

Here in San Diego we just had our annual Pride Parade. Some states with desert climates are postponing until cooler weather arrives. Most other states held their festivities in June to commemorate the Stonewall Riots of June 1969. It doesn’t matter when Pride occurs, it’s the celebration that counts. Pride events are held to recognize and celebrate the impact LGBTQ people have in the world, and their fight against discrimination and for acceptance. And, they are a whole heck of a lot of fun!

A Different Parade

The parade itself has changed. Originally they were all about sexy tanned men and women on motorcycles---and they still are---but they are also all about marketing. The LGBTQ community is not only “out”, but it is also known for an abundance of discretionary income its members are inclined to spend. The San Diego parade made that quite clear with a variety of floats that ranged from Alaska Airlines to Blue Cross.

In past years, marketing to the LGBTQ market was not what it is today. As an example, timeshares immediately put Gays and Lesbians on the NQ (not qualified) list. Now they are recognized as good solid timeshare prospects who have the income to vacation and travel frequently. They are a diverse group that demands diversity in their vacation experiences. They have families, and appreciate the added space and amenities a timeshare vacation provides.

Values are Prominent

At no other time in history have values had such prominence in marketing. To be successful, companies must communicate to customers where they stand in regard to values. These companies do not exclude anyone. They feature same-sex couples and mixed race couples in their advertising. They make sure to have a presence in LGBTQ and other minority events. They make sure to have non-discrimination policies in hiring and actively recruit employees from all minority groups.

A Valuable Demographic

Market research and data analytics firm, You Gov, found “nearly a quarter (24%) of all Americans say they are more likely to do business with companies that are LGBTQ-friendly”. In addition, You Gov says, “gay and lesbian individuals (71%), bisexual people (53%), liberals (52%), millennials (32%), and high-income earners (34%) are all more likely to spend their money with LGBTQ-friendly businesses.”

D.I.N.K.’S

Another affluent demographic that should not be overlooked are D.I.N.K’s ( Double Income, No Kids ). These couples have two incomes and they don’t have children they have to spend it on. They have discretionary funds to spend to enhance their lifestyle on vacations, luxury goods, dining and entertainment. Not surprisingly, many D.I.N.K.’s are same sex couples.

Are you Marketing Smart?

Maybe it’s time to re-evaluate your marketing communications plan---how you target your interactions with current and potential customers, and how you share your values. Don’t miss out on a growing and lucrative market

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