The Brand Power of LGBT Influence

Image provided by www.nutwork.com.au

Hello everyone! Before anything, I just want to say that it is an absolute honor to be a part of the OutFront Blog and I look forward to sharing with you my unique perspective on how today’s LGBT communities are being effectively reached by some of the worlds most notable brands and organizations. Today I would love to focus on a question posed to me yesterday that really got me thinking, “with an increase in overall acceptance of the LGBT community, does the world still need initiatives that specifically target them?”

While today’s youth are certainly not the same as yesteryears and every day societies around the world are becoming more accepting, does homophobia, in its ugliest form still exist? The answer is yes. Not only does discrimination continues to exist in countries like Iran,  where the LGBT community must live in fear of being sentenced to the death penalty, but here in our own country as well. And when businesses are involved, the repercussions are just as detrimental to a brand as the conflict they are supporting.

We have previously discussed the challenge that Target is facing with gay equality advocates across the board currently boycotting the franchise. In fact, Edge Magazine blogger Barbara Farfan wrote in an Aug. 24 About.com posting that both Target and Best Buy (who also supported the same candidate) are now at risk of losing a substantial amount of money by underestimating the purchasing power of the LGBT community (which is currently estimated at more than $750 billion). Not to mention, the companies now have to accept the loss of any support they had previously had from the Human Rights Campaign, America’s largest LGBT advocacy group boasting more than 750,000 members, as well.

While many brands have previously ignored, and continue to ignore, the potential in reaching out to this segment of society, there are, however, an increasing amount that are now seeing the benefits of appealing to the community. In fact, according to Jeff Garber in an article from The BrandChannel, “there are approximately 22 to 30 million gay, lesbian, bisexuals and transgendered people in the United States alone. And that is a considerable market share that lacks attention from many brands.” Orbitz, Subaru and Absolut Vodka, for example, have been targeting the gay community for years now and in the end are more than happy to admit that it’s had nothing less than a positive outcome for them all with an increase in traffic, loyal customers, and a better overall business. 

So, does the world still need initiatives that specifically target the LGBT community? The answer lies in whether or not you want to improve your overall brand image and business entirely.

Share | August 26th, 2010 1 Comment »