Skip to main content
Australia Edition
Sunday, 1 August 2021

Pride is good for business. But is business good for pride?

Credit: FOX 4 Now Florida
Duration: 01:39s 0 shares 1 views
Pride is good for business. But is business good for pride?
Pride is good for business. But is business good for pride?

More corporate sponsors means more visibility.

But what if those companies support other interests that don't serve the LGBTQ community?

YOU’LL GET AN EMAIL WITH DETAILSFOR YOUR FREE COKE, GOOD FROMJUNE 17TH TO JUNE 21ST.IT’S PRIDE MONTH.

AND IT SEEMSLIKE EVERY BUSINESS HAS COME OUTWITH SOMETHING RAINBOW.

BUT ISIT GENUINE OR A MARKETINGTACTIC?

NEWSY’S BIANCA FACCHINEI(FA-SHE-KNEE)EXPLORES.00-05CHANCES ARE, YOU’VE SEEN THEMEMES ALREADY, POKING FUN ATMAJOR CORPORATIONS CASHING IN ONPRIDE.

BY JUNE 1ST, THE RAINBOWFLAG WAS EVERYWHERE.

PART OFTHAT IS DUE TO GROWINGACCEPTANCE OF THE LGBTQCOMMUNITY.

I REACHED OUT TO THECAPITAL PRIDE ALLIANCE TO HEARABOUT THE REACTION.

"I’VE SENSEDVERY MUCH GENUINE INTEREST TO DOMORE AND TO DO BETTER AND TO BEADVOCATES FOR US," SAID RYANBOS, EXECUTIVE DIRECTOR OF THECAPITAL PRIDE ALLIANCE.

BUT THEFLIP SIDE HAS MORE TO DO WITHTHE BOTTOM LINE, ACCORDING TOONE CONSUMER EXPERT.

"WHEN YOULOOK AT THE PRIDE COMMUNITY, ITACTUALLY REPRESENTS ABOUT $3.7TRILLION OF SPENDING POWER,"SAID LISA MILLER, FOUNDER OFLISA W.

MILLER & ASSOCIATES.

INONE WAY, IT’S A WIN-WIN.

THECOMMUNITY GETS MORE VISIBILITY,AND BUSINESSES GET TO ADVERTISE."ACCEPTANCE FOR A MINORITIZEDGROUP HAPPENS IN ANY NUMBER OFWAYS, AND ONE OF THOSE WAYS ISACTUALLY PART AND PARCEL TO SORTOF CONSUMERISM," SAID MICHAELBRONSKI, PROFESSOR OF THEPRACTICE IN MEDIA ANDADVERTISING AT HARVARDUNIVERSITY AND AUTHOR OF A QUEERHISTORY OF THE UNITED STATES OFYOUNG PEOPLE.

THE FINANCIALINCENTIVES OF HAVING A FLOAT INTHE PARADE ARE CLEAR, BUT SO ISTHE "PINKWASHING." THAT’S A TERMADVOCATES USE TO DESCRIBEMARKETING TACTICS THAT APPEAR TOBE SUPPORTIVE, BUT ARE REALLYONLY MOTIVATED BY PROFITS.

HENCEALL THOSE SARCASTIC MEMES.THAT’S WHY IT’S IMPORTANT FORBUSINESSES WHO SPONSOR PRIDEEVENTS TO DEMONSTRATE THATTHEY’RE FULLY INVESTED, BYDONATING TO NONPROFITS ORCOMMITTING TO INCLUSIVE WORKENVIRONMENTS.

"YOUR ENGAGEMENTAND SUPPORT CAN’T JUST START ANDSTOP WITH THAT CHECK," BOS

Advertisement

Related news coverage