The latest annual survey of the LGBT Community from Community Marketing & Insights finds that these consumers are feeling positive about their economic prospects in the year ahead. LGBT adults have money to spend and they’ve got a higher than average interest in specific categories such as performing arts and vacations. Marketers should be aware that this community continues to evolve and that specific marketing terms will work best when connecting with them.
Nearly half, 45%, of surveyed LGBT adults feel better about the economy, saying either their financial situation has improved or that they are personally in a better economic place than they were last year. While younger consumers are worried about rental costs and student loans, older consumers are keeping an eye on high taxes and their investments.
However, these consumers plan to spend this year, especially on the following categories:
- Gay/bi-men 50%
- Lesbian/bi-women 53%
Vacations of 5+ nights:
- Gay/bi-men 49%
- Lesbian/bi-women 41%
$100+ tickets to non-profit fundraisers:
- Gay/bi-men 23%
- Lesbian/bi-women 14%
LGBT consumers are increasingly becoming parents. About 27% of lesbians between the ages of 30–44 have children under the age of 18 in the home while 8% of gays in the same age group do.
When marketers are targeting this audience, they should keep in mind that over 70% of these consumers prefer the term LGBT. Only about 1/3 of these consumers appreciate hearing the word rainbow used when they are targeted with marketing messages. These consumers also believe they are still very much in an active campaign for equal rights. This campaign is still evolving. While marketers may have previously been using terms like same-sex marriage and same-sex couples to target this audience, they should now be using the phrase marriage equality which is preferred by over 80% of all LGBT community members.
AudienceSCAN research reveals that 32% of these consumers are between the ages of 18 and 24. Over 66% this audience is also single and these consumers are 29% more likely than average to live in urban areas. Popular leisure activities for LGBT consumers include reading comic books and playing a musical instrument. Marketers seeking to reach these consumers should know that when it comes to supporting social causes, 80% of the LGBT audience will change where they shop. Marketing campaigns on social networks may prove especially effective at reaching this audience which overindexes for having responded to these ads in the past 30 days.
AudienceSCAN data is available as part of a subscription to AdMall for Agencies. Media companies can access AudienceSCAN data through the Audience Intelligence Reports in AdMall.