The Untapped Market Potential of the Deaf and Hard of Hearing
Businesses often overlook the market potential of the deaf and hard of hearing, despite the fact that this demographic represents a large and growing consumer base. Here are some key points to consider when tapping into this untapped market potential:
Large and Growing Market:
In the United States alone, there are approximately 37.5 million deaf or hard-of-hearing individuals. Globally, this number is even higher, with over 466 million individuals experiencing disabling hearing loss. This represents a significant and growing market that businesses can tap into by providing accessible products and services.
High Levels of Engagement:
Deaf and hard-of-hearing individuals tend to be highly engaged consumers who are active on social media, online forums, and other digital platforms. In fact, 90% of deaf or hard-of-hearing individuals use social media, and 50% of them say they prefer to shop online1. This presents an opportunity for businesses to reach out to this demographic through targeted digital marketing campaigns and engagement strategies.
Brand Loyalty:
Businesses that provide high-quality, accessible products and services can foster brand loyalty and build long-term customer relationships. Deaf and hard-of-hearing consumers are loyal to brands that make an effort to provide accessibility and inclusivity. In fact, a survey conducted by the National Association of the Deaf found that 70% of deaf or hard-of-hearing consumers would be more likely to purchase from a company that provides accessibility services.1 This loyalty can translate to repeat business, positive word-of-mouth, and an increase in overall sales.
By tapping into this untapped market potential, businesses can create new growth opportunities, build brand loyalty, and demonstrate a commitment to accessibility and inclusivity.
If you are interested in providing accessible products and services for the deaf and hard of hearing, we invite you to request a quote for our closed captioning services. Our team of experts can help you reach this untapped market potential and unlock new growth opportunities for your business.
Notes:
1 – Fast Facts: Hearing Loss” by the National Institute on Deafness and Other Communication Disorders (NIDCD): https://www.nidcd.nih.gov/health/statistics/quick-statistics-hearing
Jake Drown
Jake is our Vice President and oversees our day-to-day operations. Jake thrives on solving our customer’s problems - if you’re stuck at a roadblock, he’s the one you need to call. As a jack-of-all-trades, you never know what you will find Jake doing on the weekends! He and his family are seasoned travelers and can be found anywhere from a mountain top, a forest, a beach, or even a corn field!
