Market growth is the most important driver of business growth. Multicultural marketing may be the single biggest source of market growth in our industry now and for the next several years, perhaps even decades. Increasingly, corporate commitment to LGBTQ+ inclusivity is also a critical part of recruiting and retaining “Generation Z” employees, according to a recent story from the Cincinnati Business Courier.
Brent Miller has served as P&G’s Senior Director of Global LGBTQ+ Equality since 2018. In a recent interview with the Cincinnati Business Courier, he underscored the importance of LGBTQ+ inclusion for business growth and that it cannot be an afterthought for businesses of any size.
LGBTQ+ inclusion “is critical to Generation Z – those born between 1997 and 2012. According to a 2022 Gallup poll, a new high of 7% of U.S. adults identify as LGBTQ. That number shoots up significantly, to 21%, among Gen Z.” (Source: Business Courier).
“It’s very clear that you won’t win with Gen Z if you’re not winning with LGBTQ.” — Brent Miller, Senior Director of Global LGBTQ+ Equality, P&G
That’s why it matters that P&G has scored perfect 100 on HRC’s Corporate Equality Index for the 9th consecutive year.
“There’s a growing realization that in order to succeed with future younger generations, you have to win with LGBTQ consumers,” Brent told the Business Courier. “People are in business to connect, bring a product or service that they value, and ultimately, grow. There’s a way to do that with the LGBTQ community that is both strategic, empathetic and supportive.”
Last year at the ANA Multicultural Marketing & Diversity Conference, Chief Brand Officer Marc Pritchard shared that companies need to adopt five essential habits to seize the multicultural growth opportunity — including from the LGBTQ+ community.
Speaking in November 2021, Marc credited more than half of our sales growth in North America from multicultural consumer segments. Among our top brands, we hold the #1 or #2 market share positions in nearly all of the 10 categories in which we compete among Black, Hispanic, Asian American and Pacific Islander (AAPI) and LGBTQ+ consumers.
“It’s a good start, and our market shares are in line with the national averages,” Marc said. “But we should beware of averages. There is still a lot more opportunity.”
In 2020, P&G partnered with GLAAD to study the impact of LGBTQ+ inclusion in marketing and media. The “LGBTQ+ Inclusion in Advertising and Media” study details how non-LGBTQ+ Americans respond to TV, films and ads featuring LGBTQ+ representation. Findings from the study revealed high comfortability around viewing LGBTQ+ images in the media, favorability towards brands with LGBTQ+-inclusive advertising, and that inclusive media images lead to greater acceptance and understanding.
To learn more how P&G is driving equality and inclusion for the LGBTQ+ community, read more on our blog.