LGBT Marketing and Advertising
Marketing and advertising to LGBT consumers, through advertising in LGBT media, using LGBT messages in non-LGBT media or sponsoring LGBT events, constitute the most direct way businesses can communicate to LGBT consumers. LGBT consumers cross with many other diverse segments in terms age, race/ethnicity, gender, ability and so on. Accordingly, the messages used and how those messages portray LGBT consumers demonstrate the depth of a business' understanding of and serious commitment to the LGBT consumer.
LGBT Buying Power
The total buying power of the adult U.S. lesbian, gay, bisexual and transgender population is projected at $790 billion (2012 est., Source: Witeck Communications and MarketResearch.com).
LGBT / Non-LGBT Purchasing Habits
A 2007 report by Harris Interactive and Witeck-Combs Communications examined the purchasing habits of heterosexual and LGBT adults. Among its findings, most respondents were likely "to consider a brand that is known to provide equal workplace benefits for all of their employees, including gay and lesbian employees," including 88 percent of LGBT adults and 70 percent of non-LGBT adults. The report also found that 62 percent of non-LGBT adults were no more or less likely "to purchase everyday household products and services from companies that market directly to gays and lesbians," while 58 percent of LGBT adults were more likely to.
Echelon Magazine maintains a list of LGBT market-related studies and other research:
- GLBT market research [echelonmagazine.com]
List of LGBT Publications - United States [wikipedia.org]
Web advertising, such as that purchased through Google's AdWords, can target LGBT-specific websites.
Similarly, event and conference sponsorships can provide businesses with targeted audiences that can assist their bottom line. For example, businesses that support LGBT pride celebrations in particular cities can establish local connections with LGBT consumers. Meanwhile, many law firms attend and recruit from the annual Lavender Law conference, which provides attendees the opportunity to interact with firms that are very clearly interested in hiring LGBT lawyers.