A Long-Term Commitment
By Elizabeth Wilson | Entrepreneur.com | MSNBC
There’s a new gold rush in California, but the rush is to the altar. Gay and lesbian couples from any state can come to California to tie the knot. As a result, a growing number of businesses are saying “I do” to the same-sex marriage market, helping thousands of couples realize their dream weddings.From a Macy’s wedding registry ad featuring two men’s wedding bands to an Indiana stationery store whose heterosexual owner uses the internet to reach the market, there are numerous styles and approaches to get the lesbian, gay, bisexual and transgender (LGBT) community interested in your products. But experts say there are some key strategies to consider when marketing to the LGBT community.
“Hopefully most of us will only get married once in our lives. Those businesses that service other events in our lives and whatever ongoing consumer needs–that’s better,” LGBT marketing expert Dana Rudolph says.
LGBTbuying power is expected to total $712 billion in 2008, according to a recent study by Witeck-Combs Communications, a Washington, DC-based firm that specializes in the LGBT consumer market. By comparison, the U.S. wedding industry as a whole will ring up an estimated $62.8 billion this year.
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