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How can a business integrate Pride month into their content strategy?

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Employee holds a rainbow ribbon
Progress: Portugal and Northern Ireland (UK) revoked all restrictions on LGBTI people for blood donation, making it possible for everyone to donate blood safely and equally | Source: Rainbow Europe Map 2021

We are halfway through Pride month and, as with every year, we have seen thousands of companies, big and small, trying to ride the colourful rainbow of LGBTQIA.

Although most of the content posted by businesses on social media making reference to June Pride month are harmless and well intentioned, many entrepreneurs and marketing agencies are not posting this type of content to support the movement started with the Stonewall Uprising in New York City on June 28, 1969.

So, how can a business integrate pride month into their strategy while being supportive, instead of sounding shallow and jumping on the bandwagon?

I wanted to hear from businesses owners who will be posting ‘Pride’ content throughout June.

Here, businesses owners and professionals share how they planned their content throughout June to make the best of the pride celebrations in a meaningful way.

 

Make it an ongoing topic
“I make it a point to have our company participate in Pride month because it ties directly to our mission, which is to provide opportunities to others and a world that works for all through our high-volume applicant tracking system. We talk about diversity and inclusion all year round, which means Pride month then becomes a natural extension of our existing content. One thing we make sure we don’t do is offer any sort of discount associated with Pride.”

Tracy Sestili – VP of Marketing at Fountain

 

Promote creators and charities instead of yourself

“For Pride Month, it is easy to come across as disingenuous, as making your logo rainbow-colored is simply not enough to show support. Instead, it’s better to promote actual social change around the important issues. Highlight LGBTQIA influencers or influential people in your industry or space, and promote different charities that specialize in LGBTQIA issues.”

Cody Iverson – Co-founder & CEO at Viscap Media

 

Support your diverse team

“As a branding platform, we’ve decided to highlight LGBTQIA designers and branding agencies through a series of Instagram posts focused around their work and experience. This is meant to bring awareness to their work, their experience, and their creativity.

We’ve also gone ahead and created content around Pride for Linkedin, to honour different LGBTQIA entrepreneurs and businesses. We think highlighting our LGBTQIA members is critical to inclusion, diversity, and showing our support as a business. There is no incentive to grow our business or measure impact with our Pride month content. It is simply to bring awareness and to celebrate diversity and inclusion.

Enina Bicaku – Content Marketing Specialist at Looka

 

Get serious if you want to cash in on Pride

“Now, more than ever, we need to see businesses and industries take a more assertive position in support of the LGBT+ communities. However, if organisations really want to cash in on Pride, I would recommend they put their money where their mouth is and treat the current diversity, inclusion and equity challenge in the same way they would tackle a profit or sales issue … by getting serious! From making a donation to an LGBT+ charity and highlighting commitments that outline how you are going to achieve better LGBT+ representation across all levels, to reviewing current supply chains to meet expected minimum standards when it comes to LGBT+ representation within organisations. Every act counts.”

Ed Jervis – Founder & Chief Disrupter at  www.inclusioncrowd.com

 

Highlighting internal stories

“Highlighting how your company’s internal processes and policies match the ideals that Pride month represents is one of the best ways your brand can demonstrate genuine support during Pride month, while integrating it into your content strategy.”

Jennifer Harder – Mortgage Broker

 

Steven A Wardlaw - Chairman at Emerald Life Insurance company

Steven A Wardlaw – Chairman at Emerald Life Insurance company

Enquire about what companies are doing for LGBT+ people

“We have a different take on what to do during Price month. To avoid accusations of jumping on the bandwagon or pinkwashing is easy. Make a real change to how you treat LGBT+ staff, customers or stakeholders, and actually tell your staff what you are doing. We challenge LGBT+ people (and I am one) that if you see a rainbow in a store/company window, go in and ask what that organisation is doing for LGBT+ people. It’s a very effective tool and we should use it more often. A rainbow without any real action is a cynical attempt to take money without making effort.”

Steven A Wardlaw – Chairman at insurance company www.emeraldlife.co.uk

 

Pay Tribute to LGBTQIA Trailblazers

“Before starting your campaign, we encourage you to consult members of the LGBTQ community and allies. You’ll be able to write more informative material as a result. By stopping you from sharing insensitive materials, it can also help you avoid unpleasant and damaging situations. Remember, only run a Pride Month campaign if you and your company sincerely believe in LGBTQ rights. Don’t use this as a way to make money or sell rainbow-colored items. Also, pay tribute to LGBTQ Trailblazers by reminding your audience of the fortitude it took — and still takes — to overcome prejudice and adversity. For example, share quotations and images from your favourite LGBTQ activists.”

Joel A. Almazar – Administrative Assistant at www.upgrow.io

 

Build a culture of inclusivity

“I’d definitely encourage businesses to do more. If they can, they should highlight LGBT causes they support, ensure LGBT employees get treated fairly all year round, build a culture of inclusivity, and track and improve on things consistently. And then, if you want to have a bit of fun during Pride month, no one’s going to fault you for it. That’s what I do for my business, and that’s what we recommend all our clients do too.”

Farhad Divecha – MD and Founder at AccuraCast.

 

Make actionable campaigns

“We will be posting Pride content throughout June to promote our Pride collection and partnership with OutRight Action International. Pride is particularly relevant to our business because we sell clothing to wear at raves and festivals, and those events have always been safe spaces for the LGBTIQ community to express themselves. Acceptance, individuality, and dressing with complete freedom of expression are values that we hold dear.

We only choose to align ourselves with causes that are relevant to our community and also make sure to give back. We will be donating 10% of the revenue from our Pride collection to OutRight Action International, while also giving our customers the ability to easily add a donation to any purchase on our site through July 31.”

Brian Lim – Founder at www.intotheam.com

 

Marcio Delgado is a Journalist, Producer and Influencer Marketing Manager working with brands and publications in Europe, America and Asia.

Business

What is credit invisibility and how can it affect your finances?

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A woman paying groceries with cash
Only paying in cash will make it difficult to build a credit history and may make you may be credit invisible

If you’ve never taken out a loan or owned a credit card, you may be credit invisible. This means that financial institutions have no records to show that you’ve borrowed money responsibly in the past, which lenders largely rely on to approve you for financial products.

Everybody starts off with invisible credit. However, it can affect you in more ways than one, so it’s important to seek ways to build your credit history as early as you can. Here, we look at some of the effects of credit invisibility on your finances, and offer a few tips to start becoming credit visible.

Access to financial products

Before being approved for any kind of financial product in which you borrow an amount of money, a lender will run a credit check to ensure you have a good credit history. Usually, they’ll be looking to see that you have a high credit score – this would prove that you’ve borrowed money responsibly in the past, and have been able to continuously keep up with repayment obligations.

When you have no credit history for lenders to look at, it can make it harder to qualify for financial products. Your lender will know that you have no prior experience managing borrowed money, and therefore can’t for certain know that you’ll pay any amount back that you borrow. This can be true of all kinds of borrowing options, such as credit cards and loans.

Low limits, high fees

Ultimately, everyone starts off with limited or invisible credit history. So, there will always be a restricted number of financial products available to those looking to borrow for the first time.

However, you may not be offered the best deal if you’re credit invisible. For example, you might be offered a lower limit on a credit card you apply for, or a smaller sum of money on a loan. Plus, you’re likely to face higher interest fees than those who have a visible credit history.

Stagnated progression

Most people will need to borrow money from a lender at some point or another. Usually this will be to pay for a big life expense – you may be buying a house with a mortgage, or purchasing a car on finance. Having limited access to credit options can make goals like these much harder to work towards and obtain. Unfortunately, this could have a knock on effect on your overall quality of life.

Limited access to financial products means that you’ll largely have to rely on your own savings to make any big purchases – this could set you back years when it comes to owning a property.

How can you become credit visible?

Luckily, credit invisibility impacting your quality of life in the long-term is a worst-case scenario. As long as you take a proactive approach towards your finances, you can easily remedy your credit invisibility.

There are plenty of simple steps you can take to become credit visible – you can get on the electoral roll, link your current account to a credit reference agency, or take out a monthly mobile phone contract. These tasks won’t necessarily prove that you can borrow money responsibly, but they’re a good place to start.

Next, you’ll want to look into credit options. Taking out a credit card or loan with a low limit and a high interest rate can seem like an unappealing option, but as long as you can cope with the financial responsibility, it’ll be worth it in the long run. By sticking to your limit and repayment commitments, you’ll prove to your lender that you are a responsible borrower. In turn, this will be reflected on your credit report, and your credit history will begin to take shape. Using such a product responsibly is likely to boost your credit score rather swiftly, which can qualify you for further credit options. You may even find that after a set period of time, your lender is willing to increase your limit and offer a lower rate of interest on your product.

Getting started

Keen to start building your credit history? Do plenty of research on the products available to you before making any long-term commitment. To ensure that you can keep up with the financial responsibility, create a detailed financial plan for the best results.

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Extreme tourism market to reach $91 Billion

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Extreme Tourism Market to Reach $91.0 Billion
Mountain climbing held the highest extreme tourism market share in 2022 | Photo: Connor Moynihan

A recent report published by Allied Market Research forecasts that the global extreme tourism market, valued at $24.2 billion in 2022, could reach $91.0 billion by 2032.

The growing influence of social media is a powerful force surging demand in the extreme tourism market, which attracts travellers those leaving their comfort zones to engage in activities that are considered high-risk, adventurous, or unconventional, such as skydiving, bungee jumping, and rock climbing. Thanks to platforms such as Instagram and YouTube, serving visuals and tutorials breathtaking adventures,

Travelers, inspired by visually appealing content on platforms such as Instagram and YouTube, are actively seeking out thrilling experiences to share on their own social networks, driving a sense of Fear of Missing Out (FOMO) among younger demographics, compelling them to actively participate in adrenaline-pumping activities to create their shareable moments.

By adventure type, the mountain climbing segment held the highest market share in 2022, accounting for more the two-fifths of the global extreme tourism market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the skydiving segment is projected to manifest the highest CAGR of 15.2% from 2023 to 2032.

25 to 45 years is the age group holding the highest market share since 2022, according to the report, accounting for more than two-fifths of the global extreme tourism market revenue. The segment is estimated to maintain its leadership status throughout the forecast period. However, by 2032 it will be below 25 years segment that is projected to have the highest CAGR: 15.3%.

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Petrol up 6p a litre so far this year in the UK

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Increase in the cost of wholesale petrol has squeezed the average retailer margin which has now reduced to 8p a litre | Photo: Engin Akyurt

Petrol went up nearly 2p (1.86p) a litre in March from 144.62p to 146.48p meaning the average price at the pumps has increased almost 6p since the start of the year, data from RAC Fuel Watch reveals.

Diesel rose by more than a penny from 154.68p to 155.99p (1.31p), making for three consecutive months of rises. A full 55-litre tank of petrol now costs £80.56 – up by £1 – and diesel £85.79, up 72p.

While the increase in forecourt prices was driven by a 5% rise in the cost of a barrel of oil (from $83.55 to $87.48) in March, a surge in demand for petrol in the United States ahead of the summer has caused the wholesale price of unleaded to rise to match that of diesel. This meant that by the end of March, a litre of unleaded cost 113.3p on the wholesale market, only a penny or so less than diesel at 114.69p. If this remains the case, the gap between the two fuels at the pumps should close from its current 7p in the next few weeks.

RAC Fuel Watch data shows the increase in the cost of wholesale petrol has squeezed the average retailer margin which has now reduced to 8p a litre, in contrast to 10.5p at the beginning of the month. The average margin on diesel is 11p, up by a penny over the same period.

Looking at the big four supermarkets which dominate UK fuel retailing, Tesco had the cheapest unleaded on 31 March at an average of 142.7p across its 511 forecourts, while Asda had the most expensive at 145p. Asda, which for many years prided itself on selling the lowest-priced supermarket fuel, also had a whopping 33p price difference between its cheapest and most expensive petrol. The grocer charged 139.7p at nine forecourts, four of which are in Northern Ireland, and 172.9p at junction 29A of the M1 near Sheffield – a Shell-branded site operated by Asda. Comparatively, Tesco had the smallest difference between its lowest and highest prices at just 6p (138.9p v 144.9p).

At the end of March Sainsbury’s sold the cheapest unleaded at 136.9p at two sites – one in Wolverhampton and one at Dungannon in Northern Ireland. Tesco, however, was charging its lowest price – 138.9p – at 30 separate forecourts. Asda, on the other hand, was only charging its lowest petrol price of 139.7p at nine of its 658 forecourts.

Sainsbury’s and Tesco were tied for the lowest average diesel price across their portfolios at 151.7p and 151.8p. Asda’s gap between its cheapest and most expensive diesel was 35.2p (147.7p at Torquay and two in Northern Ireland v 182.9p at the Shell-branded site it runs near junction 29 of the M1).

Tesco had the smallest gap of just 6p between diesel at its forecourts (148.9p v 154.9p) while Morrisons was also under 10p (145.7p v 154.9p) Sainsbury’s had the cheapest diesel at 142.9p, but this was only available at Andersonstown, near Belfast, in Northern Ireland. Tesco’s lowest price of 148.9p was, however, on offer at 45 of its forecourts.

BP and Shell-operated forecourts also have very large differences between their cheapest and highest fuel prices. For unleaded BP has a gap of 27p (142.9p v 169.9p) and Shell 26p (143.9p v 169.9p) across their 287 and 536 forecourts. For diesel, it is 30p for BP (149.9p v 179.9p) and 26p for Shell (153.9p v 179.9p).

“The rising cost of oil, combined with the pound still only being worth a meagre $1.3, has led to another month of misery at the pumps with the price of petrol going up 2p a litre. Sadly, this means the average price of petrol has gone up nearly 6p so far this year,” says RAC fuel spokesman Simon Williams.

“The data also reveals that Asda, Sainsbury’s and Morrisons only offer their cheapest prices at one or two stores whereas Tesco offers it at around 30 forecourts, albeit at a slightly higher cost. Its customers also have the comfort of knowing that there’s only 6p difference between its lowest and highest prices.

“Sadly, Asda appears not to be the force it once was in fuel retailing. Gone are the days when it used to announce big headline-grabbing pump price cuts when wholesale prices fell, along with a promise at the time that drivers would never pay more than a certain low price at any of its forecourts.

“On a more positive note, it’s good to see the average retailer margin on petrol come down from 10.5p a litre at the start of March to under 8p. While the cause is most likely to be the increase in the wholesale price of petrol, it could also be due to the CMA again raising concerns about higher retailer margins very publicly just last week.”

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