A Telus study, that is exactly in line with every other study ever done on the topic, tells us that 49 per cent of Canadians and 83 per cent of 2SLGBTQIA+ Canadians are more likely to purchase products and services from companies that support the 2SLGBTQIA+ community.
There are plenty of reasons why any corporation or business should be 2SLGBTQIA+ friendly, other than that it’s the moral and right thing to do is not to let anyone feel left out or unwelcomed. Businesses benefit from being queer friendly.
On the short run
- This is the largest growing minority market.
- With massive buying power.
- A savvy consumer group.
- More loyal to brands that support us than any other consumer group. Show them love and support and they will follow you forever.
On the long run
- This is a market that has a current and quickly growing combined buying power of $3.9 trillion dollars globally and the population is increasing rapidly as young people and other age groups identify as queer. The numbers will only continue to rise (regardless of what’s going on politically, etc.). No one is going back in the closet and they have to eat, shop, live, work, play, etc.
- How your business treats the queer market and queer consumers WILL have a massive impact not only on profit but also on your market positioning now and for years to come.
- Advertising year round to the 2SLGBTQIA+ community gives you an instant competitive advantage because queer consumers pay attention. They are a LOYAL consumer base as I mentioned. You show up for them, and they will show up for you. They will share your stuff, frequent your establishments, tell their friends, etc.
- This a market that is not swayed by the dollar and the discount and that makes us a unique and sustainable opportunity that most businesses completely miss out on.
If that is not enough, that same Telus study tells us that: 68 per cent of Canadians and 88 per cent of 2SLGBTQIA+ Canadians think that businesses that support the queer community are better corporate citizens.
Overall, being 2SLGBTQIA+ friendly is not just ethically and morally important, but it also has clear benefits for the success and sustainability of businesses. You get to grow a long term diverse customer base, and being inclusive helps build trust and loyalty. You would also enjoy enhanced brand reputation. This would result in increased visibility and positive word-of-mouth recommendations.
Throughout history of marketing, those who lead have come out on top. Corporations and businesses who have capitalized on holes or gaps in the market where other companies weren’t visionary or brave enough to tackle, have won. The missed out long term gain of marketing directly to a group whose NEEDS and BUYING POWER are often overlooked, is a serious mistake.
With 35 years expertise, INspired Media can help you navigate a lot of the questions you may have to start building, or growing, your clientele from this market. And with services that range from consulting, to creative, web, and video production, and being the producers of the leading magazines, business directories, and talk shows, for the 2SLGBTQIA+ community, we have all the tools to help in your success.
Antoine Elhashem
[email protected] www.inspiredmediainc.ca
