For immediate release: San Francisco, CA, October 21, 2010
Contact: Thomas E Roth; 415-437-3800 or tom@communitymarketinginc.com
Breakthrough survey of LGBT business decision-makers dramatically illustrates benefits of a company’s “LGBT-friendliness”
Nearly four in five respondents report purchase decisions are influenced by a supplier’s being LGBT owned or LGBT friendly.
The vast majority of respondents would stop purchasing from a company deemed LGBT unfriendly.
Community Marketing, Inc. (CMI), a San Francisco-based LGBT market research and communications firm, recently conducted a first-of-its-kind survey of over 1,400 LGBT business decision-makers in collaboration with the National Gay & Lesbian Chamber of Commerce® (NGLCC). In addition to showcasing previously overlooked opportunities in the LGBT business-to-business segment, the study resoundingly demonstrates the effect of a company’s LGBT friendliness on the purchase decisions made by LGBT business decision-makers.
“Gays and lesbians who make purchasing decisions for their employer often refer to their ‘consumer’ loyalties — whether it’s their favorite gay-friendly airline, financial company, or some other business — when making those choices at work,” said Thomas Roth, President of CMI. “We call this the ‘trickle up’ or multiplier effect, where a lesbian consumer might choose a gay-friendly hotel for her personal stays, but also could make a booking for 100 rooms at a similarly known gay-friendly hotel for a company meeting, because of that same loyalty.”
In fact, 78% of respondents said knowing a company is LGBT-owned or LGBT-friendly would influence their decision to purchase their products or services. The study indicated that this will very likely turn into purchases, with nearly half (44%) of respondents saying they are extremely likely to have a purchase decision influenced by knowing a company is LGBT-owned/friendly. A large majority of respondents (76%) also indicated that they are likely to stop purchasing from a company that is anti-LGBT or non LGBT-supportive, a clarion call for companies to understand and update their behaviors and attitudes with respect to LGBT consumers.
The survey showed respondents who are NGLCC members or affiliated LGBT chamber of commerce members are even more likely to value LGBT-owned and LGBT-friendly firms than other respondents, suggesting opportunities for such firms to grow their business through NGLCC affiliation. NGLCC members and affiliated members are more likely than other respondents to source products from LGBT-owned or LGBT friendly vendors by nearly two to one (55% vs 31%), all else being equal.
NGLCC members and affiliates are much more likely than other respondents to:
• Give preference to LGBT owned/friendly vendors when purchasing (86% vs 66%)
• Use a resource to identify LGBT owned/friendly businesses (98% vs 84%)
• Cease doing business with companies deemed LGBT unfriendly (83% vs 73%)
“Not only are we proud to be certified by the NGLCC and include it as a differentiator in our sales efforts, but as an NGLCC member, we have been able to tap into a growing community of LGBT-friendly vendors and suppliers for our own business needs,” said Jennifer Brown, CEO, Jennifer Brown Consulting. “All things being equal, we prefer to steer business to companies that are LGBT owned or LGBT friendly.”
CMI conducted this unprecedented online survey of over 1,400 U.S.-based respondents in partnership with NGLCC. The study was supported by Hyatt Hotels, Chubb Group of Insurance Companies and Wells Fargo Bank. The goal of the study was to quantify and qualify the purchasing habits, motivations, and behaviors of LGBT-owned companies and LGBT-friendly corporations, and determine opportunities for increasing LGBT-related B2B commerce.
Respondents were drawn from a “business owner/manager” segment of CMI’s proprietary research panel of 50,000 LGBT consumers, NGLCC national members, and affiliated LGBT chambers of commerce members.
Complete results will be presented at the 2010 NGLCC National Business & Leadership Conference [http://www.nglcc.org/DC2010], November 18-20 in Washington, D.C. After the conference, the report will be available for free download from the Community Marketing and NGLCC websites. To receive an announcement about the release of the report, register here:
http://app.streamsend.com/public/XBZj/m87/subscribe
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About NGLCC
The NGLCC [http://www.nglcc.org] is the business advocate and direct link between LGBT business owners, corporations, and government. The NGLCC represents the interests of more than 1.4 million LGBT-owned businesses in the United States and is the umbrella organization for 61 state, local, and international LGBT chambers of commerce and business organizations.
About NGLCC’s National Business and Leadership Conference [http://www.nglcc.org/DC2010]
Out for Business! will be a three-day event, taking place from November 18 to 20 in Washington, DC, including the presentation of this groundbreaking survey, a series of exciting business symposia, engaging keynote speakers, thoughtful panel discussions, and fun special events designed to educate and connect attendees.
About Community Marketing, Inc. [tom@CommunityMarketingInc.com
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