Pride 365: Using CTV Advertising to Market to LGBTQ+ Consumers Every Day
The LGBTQ+ community represents a significant portion of the marketplace that brands cannot afford to ignore. According to Gallup, the percentage of U.S. adults who self-identify as lesbian, gay, bisexual, transgender or something other than heterosexual has increased to a new high of 7.1%, which is double the percentage from 2012, when Gallup first measured it. And with buying power projected to reach $1.4 trillion in 2023, this community has significant disposable income.
When it comes to media consumption, the Collage Group found that "Streaming TV is LGBTQ+ viewers’ preferred way to watch television. Over-the-top streaming services offer on-demand access to the content they might not find elsewhere. LGBTQ+ viewers are drawn to streaming both by virtue of their digital nativity and thanks to the relative abundance of LGBTQ+-focused content released to or exclusively produced by streaming companies." As a result, reaching and engaging with LGBTQ+ audiences has become increasingly important for marketers, especially via streaming and CTV advertising.
But that needs to be a year-round effort that goes well beyond Pride Month in June. As eMarketer notes, “Winning over the LGBTQ+ community is complicated and involves much more than portraying LGBTQ+ people in ads, paying lip service to LGBTQ+ causes, or churning out rainbow-themed products in June. More importantly, it involves extending sincere and authentic support beyond Pride month, taking extra care to avoid the perception of being opportunistic or exploitative, and not treating June as an annual event to peddle pride-themed products.”
Understanding the LGBTQ+ Consumer Market
To effectively market to LGBTQ+ audiences, it's important for marketers to understand the unique characteristics of this community. For example, LGBTQ+ consumers tend to be more loyal to brands that are inclusive and show support for LGBTQ+ rights. Additionally, they are more likely to shop at businesses that are LGBTQ-owned or operated and are more likely to buy products and services that align with their values. A survey by YouGov found that LGBTQ+ consumers were more apt than their non-LGBTQ counterparts to consider buying a product from a company running an ad featuring a same-sex couple.
Creating Inclusive and Accepting Environments Through CTV Advertising
Another advantage of using CTV advertising to reach LGBTQ+ audiences is the ability to reach them in a more inclusive and accepting environment. Many major streaming platforms have made concerted efforts to include more LGBTQ+ representation in their programming, which creates a more welcoming environment for LGBTQ+ audiences. This can lead to higher brand loyalty and a more positive association with the advertised brand.
Strategies for Appealing to LGBTQ+ Audiences
Marketers can appeal to LGBTQ+ audiences in several ways. One effective strategy is to use inclusive language and imagery in advertising. For example, using gender-neutral or inclusive language can make a big difference in the way that LGBTQ+ audiences perceive a brand. Additionally, using imagery that includes LGBTQ+ people can help to create a more welcoming and inclusive environment for this community.
Understanding What Resonates Positively with LGBTQ+ Audiences
Another strategy for appealing to LGBTQ+ audiences is to understand what kind of marketing resonates positively with this community. For example, research has shown that LGBTQ+ consumers respond positively to advertising that is authentic and relatable. This means that using real LGBTQ+ people in advertising, rather than actors, can be more effective in reaching this audience. Additionally, advertising that addresses LGBTQ+-specific issues and concerns, such as discrimination or legal rights, can be more effective in resonating with this community.
Advantages of Using CTV Advertising to Reach LGBTQ+ Audiences
Using CTV advertising to reach LGBTQ+ audiences has several advantages. One of the biggest is the ability to reach this community in a more targeted way. Unlike traditional television, CTV allows for more targeted advertising based on demographics, interests, and behaviors. This means that marketers can reach LGBTQ+ audiences with more relevant and personalized ads, which can lead to higher engagement and conversion rates.
While online advertising can be targeted to specific demographics, it's limited to people who are actively browsing digital or social platforms. Plus, ad-blocking software has become increasingly popular among consumers, which can make online advertising less effective.
CTV advertising, on the other hand, reaches viewers who are watching streaming services as well as the streaming apps associated with linear networks, making it a more effective way to reach potential customers.
Streaming and CTV Advertising: A Cost-Effective Solution for Marketers
Streaming and CTV offer marketers specific capabilities that are superior to other media, such as addressable targeting, deterministic measurement, campaign flexibility and speed, performance-led optimizations, cost-effectiveness and audience engagement. And when it comes to return on investment, streaming TV delivers a 30% higher ROI than all other marketing channels, including digital video, digital display, paid search and social, according to Analytics Partners. Streaming and CTV advertising can also provide a more premium, safe environment for brands, which can help build trust and credibility with potential customers.
How CTV Advertising Complements Existing Digital and Social Strategies
Streaming and CTV advertising can be a cost-effective complement to a marketer’s existing online, social, or digital advertising strategy. By using a multichannel approach, tax preparation services can reach potential customers through a variety of platforms, increasing the chances of their message being seen. Additionally, CTV advertising can provide measurable results, allowing advertisers to track the effectiveness of their campaigns and adjust them as needed, making the most of their advertising budget.
Simulmedia’s Unique CTV Advertising Solution for Marketers
Simulmedia’s TV+© is the only streaming TV advertising platform designed to prioritize a marketer’s needs. Here’s how we can help reach LGBTQ+ audiences:
- Our technology allows us to build your audience target by who they are, how they’re watching and what they’re watching so we can confidently reach them at the most high-engagement, high-attention moments and at the most efficient cost both nationally or by county, state, DMA or region.
- Our direct integrations with virtually every ad-supported streaming service, publisher and app allows us to place your ads in premium, brand-safe environments with full transparency into where you’re running.
- To ensure maximum results with minimal waste, we deduplicate audiences and manage frequency across ad-supported streaming services so you’re not overdelivering your message to the same viewers.
- Our team of experts and TV veterans manage all aspects of your campaign from start to finish.
- We provide more granular measurement of the KPIs that matter to you than you’ve ever enjoyed before while our dedicated Simulmedia team optimizes your campaign for continuous improvement throughout your flight.
Streaming and CTV Advertising: The Key to Success With LGBTQ+ Consumers
In conclusion, CTV advertising presents a unique opportunity for marketers to advertise to the LGBTQ+ community in a more targeted and effective way. The spending power of LGBTQ+ consumers represents a significant portion of the market that marketers can tap into. Additionally, by reaching LGBTQ+ audiences in a more inclusive and accepting environment, marketers can increase brand loyalty and create a more positive association with the advertised brand. Furthermore, by using inclusive language and imagery, and understanding what resonates positively with LGBTQ+ audiences, marketers can create more effective campaigns that resonate with this community. With these strategies in mind, CTV advertising can be a powerful medium for reaching and engaging with LGBTQ+ audiences.
Find out how Simulmedia’s unique TV+® platform for TV and streaming advertising provides unified access to premium linear and CTV inventory across all networks and publishers. Request a demo or email us at firstname.lastname@example.org.