Selling fintech solutions to LGBTQ+ communities

It’s now fairly common practice for companies of all stripes, from beverage companies to tech platforms, to change their logo into a rainbow version of their insignia during pride month—and then revert it to their classic logo on July 1st. The ritual is a now-classic demonstration of private-sector support for LGBTQ+ communities; but its status as an overture that’s limited to one month a year largely makes it a marketing ploy that risks alienating LGBTQ+ people through its limited commitment.

Instead, fintechs and other companies looking to sell and partner with LGBTQ+ communities can keep three core intentions in mind to maintain meaningful and sustainable pipelines and relationships:

Stating intentions

Before building out LGBTQ+-focused marketing, branding, and sales campaigns, it’s worth assembling internal stakeholders to determine the desired outcomes of these strategies. Are they designed to showcase solidarity with LGBTQ+ employees and with customers, or just to boost sales? How might these priorities be best met differently or at the same time? Are sales leaders willing to potentially forsake short-term profits from certain communities in the name of LGBTQ+ equality? How politically engaged are they willing to get?

These preliminary discussions are especially important in today’s climate, when brands should expect to stick with their stated values when the going gets tough. Ongoing backlash against Bud Light for its partnership with trans influencer Dylan Mulvaney demonstrates the potential pressure that brands may face from consumers who disagree with expressions of solidarity with LGBTQ+ communities—a potentially double-edged sword if executed incorrectly, since backtracking in the face of this pressure risks angering LGBTQ+ stakeholders in the process.

Year-round engagement

Building long-lasting relationships with LGBTQ+ communities requires ongoing contact with these consumers and their support networks. Publishing a flurry of LGBTQ+-focused content one month a year and then returning to near-zero targeted communication levels can turn consumers away from these brands.

Brands can instead sustain partnerships with LGBTQ+-focused organizations and include LGBTQ+ spokespeople in advertisements and campaigns year-round.

Adopting the right tone

Fintechs should make sure to adopt a tone in their LGBTQ+-focused content that’s authentic to their brand. Deviating too far from a brand’s regular voice can turn a campaign viral for the wrong reasons, becoming one of many memes deriding how some companies pander to LGBTQ+ communities during pride month.

Hiring LGBTQ+ people to lead these campaigns and gut check them can help avoid those kinds of shortcomings, and instead turn goodwill into long-term engagement.