Grasp the global 3.7 trillion pink business opportunities, enterprises rely on D&I to kill their own trail

In the Thursday, we d&i how to make an impact on our employees, indirectly to bring benefits to the company, talked about how EBay to set policy, the actual operation of D&i, drawing female supervisors. (Recommended reading:D&i No | promotion pipeline transparent and fair, eBay to train women's top talent )

This week, we'll talk about how companies can use D&i to get into the growing gay, women's market and profit from it.

Pink and women's economic rise, how do businesses create the right services?

In recent years, gay issues, women's rights and interests gradually for the public attention, people are willing to stand up for each other's rights, on the street. This phenomenon, in the enterprise implementation d&i, in addition to the basic human rights protection, for the company image Plus, more importantly, from the market point of view, this unit by women and gay groups brought by the consumer market, is not to be underestimated. (Recommended reading: Gay big Parade Live notes: Outside the sun carcass more comrades imagine )

Pictures | source

According to LGBT Capital data, gay people around the world population the total population of 5% to 10%, spending power of up to 3.7 trillion dollars a year, and in the Asia-Pacific region can reach 1.1 trillion dollars. In the global market, the "pink economy" is Pink to describe the emerging consumer power of LGBT. (Recommended reading: pink economic rise!) Lin Zhijie: Comrade is not only the protest on the streets of the group, we are very consumer power

On the female side, according to a report by the Ernst and the Deloitte, the global female income will come to 18 trillion in 2018, and women have 85% of consumer decision-making power in household consumption. According to the data, the U.S. 5.9 trillion in consumer spending, women accounted for 4.3 trillion. Women's consumption power, has not been overlooked.

In the face of such a large and growing market, how do other companies use D&i to create a service?

To make a customer insight from the diversity of employees

From the pink economy to women's consumption, companies must first ensure that they have enough comrades and women to represent them when hiring. Only through the diversity of staff views, can never be the same group vision, customer insights.

In the case of the American Campbell Soup Company , as early as 2009, it began to investigate the female consumer market and involve women in research and development. At that time Kimbaoton wanted to know what kind of ready-to-eat soup housewives would choose? Women in the study group think that even if housewives are more speed-ready, they will still want the instant soup to be rich in nutrients, as it is cooked, with a full chicken and vegetable extract, and simply label the outer packaging. Rather than a bunch of unknown syrup, msg combination of instant soup. Finally, they successfully developed a ' Select Harvest ' soup series for female consumers.

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The story of Todd Sears, another out leadership founder, is an illustration of how successful the insights of a diverse community will be in the marketplace.

Todd Sears, a publicly-appointed comrade, created a private banking team on Wall Street (national private banking teams), with LGBT people's views and experience, and, at the time of his work at Merrill Lynch, from the investors get more than 1.4 billion dollars in assets .

Before Todd Sears's founding team, Merrill did not sponsor the LGBT community or set up a policy on LGBT within the company, but after that, Merrill Lynch perceived the gay community's impact on corporate profits and began to accelerate its sponsorship of LGBT organizations.

Out Leadership is a strategic consultancy that aims to "promote the rights of the LGBT workplace", which is composed of some employees (and a dog named Wylie). Photos | website screenshot

To capture the heart of consumers, the first task is to involve employees in decision-making

For the company, a diversified staff composition, internal, promote research and development products, services. External, but also to add the company's image. Diligence industry in the report mentioned that comrades in the "friendly comrade" products, services, and even the direct statement of the support of enterprises, its brand loyalty compared with other not to say higher. The data also point out that 78% of gays are more likely to buy products from companies that are "gay-targeted". (Recommended reading: Australia observation: "Dear, let us confidently hold hands" the tears of the "Hold Tight" ad )

Back to the front, in the face of the emerging pink, women's economy, enterprises can adopt the strategy is to implement D&i, from recruiting, nurturing all the way to promotion, so that people of different gender, sexual orientation, race, religion and so on have the opportunity to participate in "decision-making" process, this is very important. The composition of the diversified staff, can not only stop at the front line, but also to participate in practical decision-making, in order to serve the company and products, bring unique customer insights, and further grasp the hearts of different consumer groups.