- Fifty-three percent of marketers allocate between 0% and 4% of their marketing campaigns on LGBTQ consumers each year, while 29% allocate 5% to 10%, according to a study by the digital lifestyle magazine INTO and Brand Innovators whose findings were made available to Marketing Dive via email.
- According to the study, 18% of brands reported working on an LGBTQ-focused campaign, and 41% said they don't include LGBTQ representation in their marketing strategies and have no plans to do so. Nearly 40% of brands surveyed reported not including LGBTQ-focused marketing because they felt other demographics had a higher priority. INTO readers listed some of the most LGBTQ-friendly brands as Absolut, Apple, Calvin Klein, Google, H&M, Ikea, Levi's, Nike, Starbucks and Target.
- The report also found that 35% of consumers said they are more likely to purchase from brands that include LGBTQ themes and people in advertising campaigns. A brand's reputation for being LGBTQ-friendly or not influenced purchase decisions for 70% of those surveyed. Also, 47% said campaigns that are LGBTQ inclusive directly influenced a purchase that they've made, and 33% said seeing ads in LGBTQ media influenced a purchase decision.
The research from Brand Innovators and INTO, a publication launched by the gay-focused social network Grindr last year, highlights how marketers are missing key opportunities to engage LGBTQ consumers, who have more than $5 trillion in global spending power. Marketers should take note of the findings that LGBTQ consumers notice the brands that feature LGBTQ themes and people in their ads, and might examine the creative work and strategies of the companies that topped the list of LGBTQ-friendly brands such as Absolut, Apple and Calvin Klein.
Putting a great emphasis on inclusion delivers on results as well, as 22% of the marketers surveyed reported they improved marketing KPIs when focusing at least parts of their campaigns on LGBTQ consumers. Marketers often target LGBTQ consumers around major events, like June's Gay Pride Month; however, only 16% of consumers in the INTO survey said they felt positive toward a brand when they see LGBTQ campaigns during Pride Week and not elsewhere during the year. Truly engaging LGBTQ consumers depends on a more comprehensive approach. according to marketers.
"If a company is serious about reaching LGBTQ consumers, Pride is table stakes. Brands need to be there, but as a starting point," John Lake, Wells Fargo's VP of multicultural strategy and LGBT segment leader, told INTO in interview transcripts made available to Marketing Dive. "We look for other times when we can be a relevant voice in the community, such as October to mark Bullying Prevention Month."
With 20% of millennials today identifying as LGBTQ, per data from GLAAD, marketers need to expand their marketing efforts to be inclusive, including by focusing campaigns beyond same-sex couples to feature identities of the entire community. One-third of consumers felt more positive toward brands that regularly include LGBTQ themes in their ads.