Corporate America taking notice of GLBT market
Danny McCoy | March 20, 2006
SCOTTSDALE, Arizona — With an estimated $600+ Billion in disposable income attributed to the Gay, Lesbian, Bi-sexual and Transgender (GLBT) market in 2006, corporate America is sitting up and taking notice.
"This particular market segment has money and knows how to spend it," says Dave Ryder, Managing Director of Veer Consulting, a Scottsdale, Arizona-based creative consulting firm.
"We have the opportunity to open new markets in industries that reached their plateau or are experiencing declines. The GLBT market has the power to revitalize depressed urban areas, building businesses, and focusing on lifestyle, travel, health, personal and business growth, career, and education, among others. Businesses that seek these consumers and embrace this market will be positioned for growth for decades to come. We bring powerful clients, meetings, conferences, sporting events, international programs, and individual consumers to companies and destinations that have never before or merely casually explored this market segment," Ryder says.
"With the positive dialogue about Annie Proulx's 'Brokeback Mountain', NBC's 'Will and Grace', the world-wide Same-Gender Marriage Initiatives, and media attention, companies and municipalities who have not, will soon recognize the benefits of this market. They will eventually create a marketing strategy that proudly announces their desire to expand their presence in the GLBT market - a powerful economic force," he says, "or will be left behind."
Ryder, founder of Veer Consulting, a certified GLBT business, sits on the board of directors of the Greater Phoenix Gay and Lesbian Chamber of Commerce, and is a frequent guest speaker on the topic of GLBT consumerism and market development. He strongly encourages GLBT companies to become certified by the National Gay and Lesbian Chamber of Commerce (www.nglcc.org) which is the only nationally-recognized certifying entity for GLBT businesses.
This certification is endorsed by many Fortune-rated companies who understand the value and impact of this market to their bottom line. Convention and visitors bureaus across the country are among municipal and professional affiliation organizations that are taking advantage of opportunities to recruit GLBT association conferences and sporting events by establishing focused sales management positions. This interest is a clear indication that the GLBT consumer group wields purchasing power that previously was undervalued.
Veer Consulting creates non-threatening, comprehensive marketing programs, with diversity evaluations, existing strategy reviews, and frank discussions about the market, dispelling myths and stereotypes.
"Clients understand," Ryder says, "they must provide executive buy-in with allocated resources, an open-door strategy, and an atmosphere of acceptance and equality. This is not an instant get-rich-quick program that will flourish with casual involvement. It requires effort, energy, and commitment. This market segment is particular about where and how it spends its money. Corporate messages about a safe, trusting, and diverse environment must be adopted, reinforced, and broadcasted to engage the GLBT consumer," he says. "Once that trust is established, this population is exceptionally loyal."
For more information: www.veerconsulting.com. – Issued by Gay Link Content
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