As we all know, last June was Pride Month, which was held for the Queer community. This celebration was held as a march to demand rights for the LGBTQIA+ community in various matters. In our own country, Thailand, there has been a push for the Marriage Equality Act to give LGBTQIA+ couples the right to legally marry. Therefore, brands and organizations have created related campaigns to reach this customer group more.
The Importance of LGBTQIA+ People to the Thai and Global Economy
From the data in the economic base, we also found interesting information about the purchasing power of LGBTQIA+ people. According to LGBT CAPITAL, there are currently 486 million LGBTQIA+ people worldwide, 288 million of whom live in Asia, of which 4 million are Thais. The LGBTQIA+ population over the age of 15 is 3.6 million, or about 5% of the Thai population. They have a spending power of 24 billion US dollars, but if we count the whole world, they have a combined spending power of 3.9 trillion US dollars per year.
Ms. Sumitra Wongpakdee, Managing Director of Terra Media and Consulting Co., Ltd., commented that the LGBTQIA+ group is an important marketing opportunity because they have high purchasing power. From Terra BKK’s data collection from 1,132 customers, it was found that the group with an income of more than 85,000 baht per month and above, LGBTQIA+ accounted for 19% compared to the general male and female status of 15%. Then, the group with an income of 50,000-85,000 baht per month, LGBTQIA+ people accounted for 23% more compared to the general male and female ratio of 14%. Therefore, it is considered a group with a high income when compared to people of the same age and the number is continuously increasing.
In addition, many business sectors have come out to support gender equality more. Many famous brands have tried to develop products and services, including publicizing various campaigns that are designed to support LGBTQIA+ people because they are confident that they are a silent but powerful force in driving the economy. For example, many banks are accepting joint loan considerations for LGBTQIA+ people, which can be done no differently from normal male-female couples, both in terms of credit limits and supporting documents for loan applications, to emphasize that rights should be equal regardless of your gender. Or like Watsons, a leading health and beauty store in Thailand, which has launched the Love is Love campaign by selling products under bright rainbow packaging, which is the color used to support equality in both rights and freedoms of the LGBTQIA+ group.
How to market online to reach LGBTQIA+ audiences
Today, TBS Marketing presents marketing techniques that appeal to LGBTQIA+ people to convince them to become important customers for your business.
- Use inclusive and diverse language
The use of language is an important factor in promoting our products and services to others. Of course, internet users are of various genders, ages, and races. Therefore, it is very important to be careful not to use language that will offend anyone. - LGBTQ people should not be stereotyped and made into a joke.
To explain stereotype simply, we define people of this gender as having this kind of personality, characteristics, and traits. A stereotype that we often see is that LGBTQIA+ people must be funny. This is because LGBTQIA+ people we see in the media tend to be cheerful, confident, and expressive. However, we should not forget that we are all different. Even if we are the same gender, we were raised and grew up in different environments. Therefore, we should not judge anyone based on their gender identity. - Conduct thorough market research
Don’t forget to conduct a thorough research on your customer base so that you can effectively promote your brand or product or service. Many times, we are stuck in the old mindset that this product is only suitable for this gender without conducting a thorough research on the market and our customer base. - Show humility and sincerity
Many times, online marketing campaigns raise social issues regarding LGBTQIA+ people. Whenever such incidents occur, the brand or organization responsible for this matter should retract, offer a sincere apology, and ensure that these incidents do not happen again.
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