A Dream Market
We see targeted ads in magazines, on websites (hi!) and we see businesses at pride festivals, but did you know the LGBT community comprises an $800 billion market according to recent estimates? Steve Roth has helped luxury brands like Cadillac reach this audience and will be in town next Wednesday at the Richmond Chapter of the Public Relations Society of America’s luncheon.
They like to try new experiences. It puts them on the cutting edge for new destinations and new products. It puts them in the influencer category. We also know that gays and lesbians are early adopters of technology, blog more and tend to go out more.
There’s also brand loyalty. We have a lot of research showing LGBT consumers will pay a premium for a product that supports the community.
You mention a once per year presence during a pride festival or an ad in a gay publication isn’t enough, but rather businesses needs to have an ongoing commitment to the community. Can you speak to that?
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