Unleashing The Power of the Pink Rand
21-Apr-2011 | News-Press Release
The marketing and advertising sector is a multi-trillion dollar industry, and although the South Africa market is on top of cutting edge techniques of consumer advertising and brand delivery, there is a large, untapped market out there.
According to the ABNSA Gay Consumer profile that was commissioned in 2008, roughly 10% of the South African population is gay. This amounts to just over 4.8 million people.
The ABNSA Gay consumer profile was completed by 15 000 respondents, and statistics showed that 76% of gay respondents that took part in the survey said they were more aware of advertisements that specifically targeted gay people. Plus, 96% of respondents paid more attention to gay ads and ads that identified with them as a market segment and 92.5% of the respondents said they would consciously support advertisers who made use of gay publications or media.
The term “DINK” for this demographic was coined… Dual Income No Kids. This means that the gay community tend to have more disposable income. They are also early adaptors, eager to try new brands and set trends. The “Pink Rand” is a considerable segment of the South African market and is known for its superior spending value.
However, no consumer is more particular about the images and messages used in marketing than the gay community, which is why it is important to have the help of a knowledgeable niche media sales agency, such as Lunch Box Media, to assist with smooth integration and appropriate messaging.
Lunch Box Media was formed in 2009 and brought together like-minded media owners, whose publications target the Lesbian, Gay, Bisexual and Transgender (LGBT) markets, to help mainstream brands communicate with these communities.
In recent year, a number of major ad categories have targeted LGBT markets around the world. These categories include travel, financial services, alcoholic beverages, automotive, entertainment, hair and skincare, luxury goods, pharmaceuticals, and fashion. (For example, American Airlines have launched a specific LGBT targeted vacations website.) While over fifteen years old in the United States and Europe, LGBT marketing is a relatively new marketing phenomenon in South Africa.
Many brands that have previously ignored the existence of this segment of society now increasingly target LGBT customers. Time magazine in August 2006 carried a Business article on growing interest amongst brand name advertisers in Europe in targeting LGBT customers. Likewise, a number of brands have emerged offering new products and services that appeal directly to the LGBT consumer base. Successful examples include KJ Beckett, 2(x)ist and Mercedes.
Owner of Lunch Box Media, Donovan Steyl, says: “We provide our clients with a comprehensive marketing mix of advertising. This includes print, online and social media. But we pride ourselves on not only selling ad space; another advantage of working though us is that you get unbiased advice and expertise as to how to enter this lucrative market - and we don’t charge an agency commission.”
Lunch Box Media is your first stop when considering approaching the gay and lesbian market in South Africa. Visit www.lunchboxmedia.co.za for more information.
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