When Tampa Bay consumers make their New Year's resolutions, many will have money on their minds.
A new study by Fidelity Investments finds that 67% of adults are considering a financial resolution for 2020. This is 10% more than last year.
The top financial resolution, among those considering one, is, 'saving more'. The study found that, when asked to choose, a vast majority of consumers would rather save $5000 than lose five pounds.
This fervor for finance is excellent news for Tampa Bay small business owners who cater to savers and investors. This includes financial advisors, insurance agents, bankers, accountants, and mortgage brokers.
To compete for a fair share of these resolution dollars requires business owners to advertise. By any metric, the best way to reach potential savers and investors is on Tampa radio.
According to Nielsen, Tampa radio reaches 90.6% of all consumers living in households who earn at least $50,000 per year. This is a significantly higher reach than among those who watch local TV, read newspapers, use social media like Facebook, or stream audio from platforms like Pandora.
The chart below indicates that local radio's dominance among Tampa Bay consumers is consistent at key income levels.
Tampa radio also has the ears of local consumers who already have investments, including savings accounts, stocks and bonds, or home mortgages.
Most importantly, of all media, Tampa Bay radio listeners are the most likely to hire local professionals to provide them with financial advice, planning, services, and products.
Tampa radio's ability to precisely target those consumers with more money to save and invest illustrates why Deloitte, the world's largest business consulting firm, recommends that the medium be used by all companies that buy advertising.
"One might think," says Deloitte, "since radio in North America is popularly perceived to be largely free and ad-supported, that it would appeal mainly to demographics that are of less interest to those who buy advertising. The exact opposite is true."
"The August 2018 Deloitte Global survey found that the percentage of Americans who report listening to live radio is higher for those who are working, those with more education, and those with greater incomes."
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