New market research being released this week asks about lesbian and gay marketing – can companies use support for gay consumers as a way to drive sales?
The ‘2010 Out Now Global LGBT Study’ suggests corporations worldwide have more to gain than lose through ‘public displays of affection’ towards lesbian, gay, bisexual and transgender (LGBT) customers and staff.
Initial results show this powerful consumer market – accounting for 6% of all sales worldwide – will choose brands that support LGBT customers with visible, well-targeted marketing campaigns.
Coupled with majority support for gay equality in major world economies, the research suggests companies need not fear targeting gay consumers.
“After ‘coming out’, LGBT people in 2010 are now well advanced in the process of ‘coming in’ – into the mainstream of society in many ways,” says Ian Johnson, CEO of Out Now – a global LGBT marketing specialist agency.
“There still exists levels of discrimination and misinformation directed against LGBT people – but this new research reveals a clear trend,” says Johnson. “Gay consumers switch brands to support companies that support LGBT customers and staff. This is highly significant – and valuable.”
The Out Now Global research is underway in 20 countries – including USA, Canada, UK, Italy, Germany, France, Spain, Israel, Argentina, Mexico and Brazil.
“The research shows marketing to gay consumers, and supporting LGBT staff, can add valuable percentage points to total market share – and profits – for companies developing effective, relevant and authentic strategies,” Johnson says.
In Latin America, Out Now is partnering in the study with leading networking organization GNetwork360. This week Out Now releases first findings from the research at the ‘3rd annual GNetwork360 Conference on LGBT Marketing and Tourism’ in Buenos Aires.
Out Now is a global LGBT market specialist with two decades of marketing experience relied upon by leading brands including IBM, Toyota, TUI, Lufthansa, German National Tourist Office, Merck, Sony Music, Barclays, Lloyds TSB and Citibank.