Pride Month is a time to celebrate and support the LGBT+ community, but it’s also a chance for businesses to show their commitment to diversity and inclusion. In this blog post, we’ll explore the significance of Pride Month for businesses and how showing support can attract and retain diverse talent, increase brand loyalty, and make a positive impact.

The Significance of Pride Month for Businesses

Pride Month is a time to celebrate and support the LGBT+ community, but it’s also a chance for businesses to show their commitment to diversity and inclusion. By participating in Pride events, creating Pride-themed products, or making donations to LGBT+ organizations, businesses can demonstrate that they value and support their LGBT+ employees and customers. This can help to build a positive brand image and attract a diverse customer base.

Why Businesses Should Care about Pride Month

Businesses should care about Pride Month because it provides an opportunity to show support for the LGBT+ community and build a positive brand image.

According to a survey by Ogilvy, 83% of Americans believe that brands should support the LGBT+ community during Pride Month. This means that showing support can have a significant impact on brand loyalty and customer perception. Additionally, showing support can help to attract and retain diverse talent, as LGBT+ employees are more likely to feel valued and supported in an inclusive workplace.

The Impact of Showing Support

Companies that show support can have a positive impact on their brand image. For example, in 2019, Nike released a Pride-themed shoe collection and donated a portion of the proceeds to LGBT+ organizations. This move was widely praised and helped to build a positive brand image for Nike. Similarly, in 2020, Ben & Jerry’s released a statement in support of the Black Lives Matter movement and called for an end to white supremacy. This statement was widely shared on social media and helped to build a positive brand image for the company.

Nike Pride Shoes

How Businesses Can Show Support

There are many ways that companies can show their reinforcement for the LGBT+ community. One option is to participate in local Pride events, such as parades or festivals. Businesses can also create Pride-themed products or merchandise, with a portion of the proceeds going to LGBT+ organizations. Another option is to make donations to LGBT+ organizations or sponsor events that support the community. By taking these actions, businesses can demonstrate their commitment to diversity and inclusion, and make a positive impact.

Conclusion

In conclusion, Pride Month matters for businesses because it provides an opportunity to show support for the LGBT+ community and build a positive brand image. By participating in Pride events, creating Pride-themed products, or making donations to LGBT+ organizations, businesses can attract and retain diverse talent, increase brand loyalty, and make a positive impact. As the Ogilvy survey shows, customers value businesses that support the LGBT+ community, so showing support during Pride Month can have a significant impact on a business’s success.

Curious about the economic impact of LGBT+ discrimination and how it affects businesses? Check out our latest blog post on ‘The Economic Impact of LGBT+ Discrimination’ to learn more.