Winning with the LGBT Market: A How-To for Marketers
Founder and CEO of The Mixx and Titanium Worldwide
Authenticity. Connection. Continuity. These are the hallmarks of any successful standout consumer marketing campaign. Even more so when it comes to the LGBT consumer market – a key target market with high disposable income, propensity for brand loyalty, and interest in the values and actions of your company.
A few facts about this key consumer group:
The U.S. LGBT (Lesbian/Gay/Bi-sexual/Transgender) market demographics make this community of 6.8 millions adults an ideal target market. With an average $75k+ income (3 times more than the general population), LGBT consumers are “early adopters” of technology such as smart phones and tablets, and the LGBT consumer market over-indexes in key categories including travel, spirits, and automotive. With an annual buying power of $917 billion and a strong sense of brand loyalty, this market is important to court and win. Studies show that 64% of the LGBT community will choose an LGBT-friendly brand over others and 75% will stay loyal to these brands.
As a full-service agency, we’ve spent the past 20 years creating real connections between brands and their audiences, building brand loyalty, and driving results through brand advocacy. We’ve develop targeted campaigns and communications for many brands, and the LGBT market is one of our sweet spots.
More and more companies are targeting the LGBT community and there are many examples proving the effectiveness of this strategy. Mercedes-Benz, one of our long-term partners, wanted to promote their brand as the #1 luxury car brand of choice for the LGBT community and needed a strategy and creative work that captured their authentic voice, while also reflecting the unique tonality of communication to the LGBT target. We developped a strategy and put together a 360 program including print, digital, social, video and experiential. The results were outstanding with 2.2M digital impressions, over 300K views for the video, and an event response rate over 60% higher than competitor’s targeting the LGBT community.
The LGBT market is ripe with opportunity for brands that engage consumers in a strategic, authentic way. Here are some tips from The Mixx on how to win with the LGBT market:
- VISIBILITY: Create clear message points that establish rapport with the LGBT community
- AUTHENTICITY: Build relationships with trusted organizations for branded activation
- REFLECTION: LGBT consumers respond better when they see themselves and their sensibilities authentically reflected in advertising
- CONTINUITY: A brand must demonstrate continual support and presence within the LGBT market to gain brand loyalty status