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.”
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