ABOVE: Watch advertising expert Tony Chapman talk about how WorldPride has changed from a marketing perspective on Global Toronto’s The Morning Show.
TORONTO – Signs of WorldPride in Toronto include rainbow flags and extended patios along Church Street, but also billboards and other ads from corporations targeting the gay community, says one advertising executive.
Tony Chapman, founder and CEO of Capital C, said the LGBTQ consumer group is approaching a trillion dollars of buying power in the U.S. alone. He estimated $250 million worth at Toronto’s WorldPride festival.
“People covet them because this is a community that buys smart,” he said during an appearance on Global Toronto’s The Morning Show, “but also buys for brands that absolutely stand for diversity,” said Chapman.
“If you want their business, you better make sure you’re governed by the same principles that they believe in.”
Chapman suggested the trillion dollar figure is related to both family type and education.
“They index less in children, but the math is they’re actually indexed higher in terms of education, and they love to spend their discretionary income on experiences, and wonderful brands … that support them,” he said.
Chapman said in the past, companies tended to focus on posting smaller ads only within Toronto’s “gay village” so that other consumers weren’t aware of their support.
“What I’m really enjoying now is the Air Canadas, the VIAs, the Scotiabanks of the world, really coming out—mainstream brands and not just isolating it on Church Street …They’re no longer drawing boundaries.”
Watch the full interview on Global’s The Morning Show above.
© 2014 Shaw Media