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Advertise In Tampa Bay: Retail Spending To Top $50 Billion in 2022

Mar 22, 2022 8:54:07 AM / by Larry Julius

There are 123,853 small business owners in the Tampa Bay area, according to the US Census Bureau. Each of these companies will need larger advertising budgets to successfully compete for a fair share of the expected explosion in consumer spending this year.

Based on new forecasts from The National Retail Federation (NRF), Tampa Bay area consumers are expected to spend between $50.4 and $51.3 billion at retail in 2022, a six to eight percent growth over the previous year.

The NRF's forecasts exclude restaurants, gas stations, and automotive dealers. Included in the numbers, though, are non-store and online sales, which, in Tampa Bay, could reach as high as $12.1 billion this year. This level of spending would be 13% more than in 2021.

Even though the rate of growth rate for 2022 is lower than the 14% jump in 2021, the NRF points out that this year's spending will be well ahead of the 10-year,  pre-pandemic growth rate of 3.7%

To participate in the expected surge in retail spending will require Tampa Bay business owners to advertise. Especially if retailers want to hold their own against the continued growth of non-store and online competition.

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Topics Return On Investment, ROI, small business, small business owner, best way to advertise, reach, radio advertising, tampa small business owners, retail stores, small business advertising, Retail Sales, Retailer, retail, reach & frequency, small business marketing, advertising reach, retail spending, advertising return on investment

Advertise On Tampa Radio: AM/FM Still Top Choice In Cars

Mar 17, 2022 10:23:22 AM / by Larry Julius

There are about 2,000,000 registered passenger vehicles in the Tampa Bay area. Some are cars. Some are trucks. Some are Hondas. Some are Fords. Some are Teslas. Some have four doors. Some have two. Some go fast. Some go slow. Some guzzle gas. Some sip. Some are red. Some are blue.

The one thing that almost every car and truck in the Tampa area have in common, though, is the AM/FM radio smack-dab in the middle of the dashboard.

The first car radio went on sale in 1930. It was an invention of the Galvin Manufacturing Company. The company named the radio 'Motorola,' and its cost was $130, around $2000 in today's dollars. By 1935, more than three million car radios had been installed.

Today, AM/FM radio is part of every car and truck on Tampa area roads. In addition to the radio, many of these vehicles also provide drivers with other audio options, including a CD player, Sirius/XM, Pandora, Spotify, podcasts, and easy access to personal MP3 collections.

It is fair, then, for small business owners who depend on Tampa radio to advertise their goods and services to ask: with all the audio options on today's dashboards, is anyone listening to local AM/FM radio in the car anymore?

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Topics Spotify, pandora, Streaming Audio, best way to advertise, radio advertising, in-car advertising, in-car audio, automotive, sirius/xm, podcasts, share of listeners, share of ear, podcasting, car radio, streaming media

How To Create A Podcast For A Tampa Bay Small Business

Mar 11, 2022 3:23:39 PM / by Jason Muth

If you're anything like the 2.2 million Tampa Bay consumers who, according to Nielsen, listen to or download a podcast every month, you probably already see the value in podcasting as a relatively new audio medium that entertains, enlightens, motivates, or informs listeners.

But if you're part of the 75% of local adults who are not regular podcast listeners, you're probably wondering why on earth would anyone want to listen to a podcast, let alone create one for their Tampa Bay business.

Launching a podcast might seem like a daunting test for small business owners without much technical background or an understanding of how to structure a compelling conversation that will engage prospective customers.

In reality, local small business owners can easily reach new customers with podcasts and complement their traditional advertising in Tampa Bay with a longer-form, conversational medium that showcases the company's knowledge in an authoritative manner.

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Topics small business, small business owner, best way to advertise, tampa small business owners, digital advertising, online advertising, small business advertising, small business marketing, podcasts, internet, internet advertising, podcasting

Best Way To Advertise Construction Job Openings In Tampa Bay

Mar 1, 2022 11:34:49 AM / by Larry Julius

Construction companies in the Tampa Bay area will need to recruit 6,600 blue-collar workers on top of the normal pace of hiring in 2022 to meet the demands of the current building market. These statistics are based on forecasts from Associated Builders and Contractors, Inc. (ABC), an association comprised primarily of U.S. firms that work in industrial and commercial construction sectors.

"The construction industry desperately needs qualified, skilled craft professionals to build America," said Michael Bellaman, ABC president and CEO. "The Infrastructure Investment and Jobs Act passed in November and stimulus from COVID-19 relief will pump billions in new spending into our nation's most critical infrastructure, and qualified craft professionals are essential to efficiently modernize roads, bridges, energy production, and other projects across the country. More regulations and less worker freedom make it harder to fill these jobs."

The construction industry's appetite for new hires in the Tampa area will continue into 2023, according to ABC. It is expected that during that year,  an additional 5,991 blue-collar workers in addition to the normal pace of hiring.

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Topics best way to advertise, radio advertising, recruitment advertising, passive job seeker, radio recruitment advertising, blue collar, online job boards, job boards, employment advertising, help wanted, active job seekers, monster.com, indeed, zip recruiter, construction, hire qualified candidates, construction workers

Advertising In Tampa Bay: Don't Say 'March Madness'

Feb 21, 2022 2:32:03 PM / by Larry Julius

Right now, at least one of the 128,637 businesses located in the Tampa Bay area is thinking about using the phrase 'March Madness' as part of upcoming advertising and marketing plans. Why not? It's a great use of alliteration. It's a familiar term. And, it's that time of year.

A furniture store in Clearwater might think it would be clever to use 'March Madness' in its commercials on Tampa radio to promote a big spring sale. A non-profit in St. Petersburg feels it would be a good way to describe its charity fun run on social media and online advertising. A sports bar in Brandon believes it would be a no-brainer to use the term in streaming video and audio ads to bring in scores of basketball fans.

It is, indeed,  tempting for a Tampa Bay small business owner to use this term for advertising or marketing purposes. But,  to avoid a costly legal battle, the use of this trademarked phrase should be a non-starter. Here's why.

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Topics Television Advertising, Streaming, Streaming Audio, radio advertising, digital advertising, online advertising, social media advertising, OTT, CTV, streaming video, streaming television, internet advertising, streaming media, streaming TV, search engine marketing, sem, display advertising, intellectual property, trademark, copyright

How Much Time Do Tampa Bay Consumers Spend Watching Streaming TV?

Feb 17, 2022 9:32:53 AM / by Larry Julius

Every week, 1.7 million Tampa Bay adults watch video programs delivered via the internet. This content goes by several interchangeable names, including OTT (Over-The-Top Television), CTV (Connected TV), and Streaming Video. For this article, we will refer to this type of content as Streaming TV.

Unlike traditional TV, cable, and satellite where the viewer needs to be in a fixed location, Tampa Bay consumers can access streaming TV anywhere using an internet-connected device. These include SmartTVs, Firesticks, Roku, smartphones, computers, laptops, tablets, and gaming consoles.

In all, according to Nielsen, 95.2% of Tampa Bay households have one or more devices capable of connecting to streaming TV. Although this medium is still new, streaming TV now rivals legacy media in its ability to reach local consumers.

Every week, Tampa Bay consumers are spending more-and-more time engaged with streaming TV.

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Topics Cable TV, Television Advertising, Streaming, digital advertising, online advertising, OTT, CTV, streaming video, avod, svod, advertising options, streaming television, internet advertising, streaming media, streaming TV

Best Way To Reach Likely Voters in 2022: Advertise On Tampa Bay Radio

Feb 11, 2022 12:25:38 PM / by Larry Julius

No matter which Tampa Bay television station or cable channel adults tune to in 2022, they can expect to be assaulted by a deluge of political advertising. Often entire commercial breaks are stuffed with back-to-back pleas and promises to secure viewers' votes.

But is advertising on WFLA, WTSP, WTVT, or WFTS, the most effective way to reach likely voters in the Tampa Bay area? Or is advertising on cable channels provided by Xfinity, DISH, DirecTV, and Spectrum the way to go?

The answer is neither. According to research from Nielsen, the best way to reach local adults who are most likely to vote is by advertising on Tampa Bay radio.

Every week, 1.4 million likely voters will listen to Tampa Bay radio stations. This is significantly more than watch local TV, cable, and streaming video. More that use social media and streaming audio. More than will read newspapers.

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Topics Cable TV, Television Advertising, best way to advertise, radio advertising, politcial advertising, political advertising, political rates, voters, registered voters, likely voters, political rate card, republican voters, democratic voters, independent voters

Advertising In Tampa Bay During A Time Of Inflation

Jan 27, 2022 10:10:25 AM / by Larry Julius

The current high rate of inflation is tempering how much Tampa Bay business owners can spend on advertising.

According to the U.S. Census Bureau, there are approximately 124,00 small businesses in the Tampa Bay area. There is one thing each of the owners of these companies has in common, whether they own a hardware store in Clearwater, a furniture store in St. Pete, or a restaurant in Seminole Heights. They are all experiencing the negative consequences of inflation.

In a monthly survey conducted by the National Federation of Independent Business Owners (NFIB), inflation now ranks second as the single most important problem companies face. A year ago, inflation was barely an issue.

Inflation has not hampered the enthusiasm to spend among Tampa Bay area consumers keeping retail sales hovering above pre-Covid levels. But, inflation is taking a dramatic toll on the amount of revenue business owners can keep.

According to the U.S. Chamber of Commerce, small business owners see inflation-fueled price increases in almost every cost of operation, including inventory, utilities, rent, and wages.

Because of these rising operational costs, Tampa Bay business owners are looking to cut expenses where they can, including advertising expenditures. But, because there is still robust consumer demand for goods and services, these companies need to make sure that the amount they do invest in advertising has the best return possible.

By almost any marketing metric, advertising on Tampa radio provides the greatest return-on-investment (ROI) of any medium available to local business owners.

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Topics small business, small business owner, best way to advertise, radio advertising, tampa small business owners, small business advertising, advertise on a budget, small business marketing, advertising options, inflation

Online Advertising In Tampa Bay: How Much Will Be Spent in 2022?

Jan 20, 2022 6:08:41 PM / by Larry Julius

Tampa Bay area business owners are expected to spend $1-billion advertising online in 2022. This, according to Borrell Associates, a company that tracks advertising expenditures across the country.

Borrell's forecast indicates that almost 50% of Tampa Bay's online expenditures will be in the form of paid search. The most recognizable type of this advertising is the paid ads that appear adjacent to the results of almost every search query on Google, Yahoo, and Bing.

Borrell's forecast also indicates that approximately 27% of online expenditures will be in the form of display advertising. This consists of traditional banner ads that appear across millions of websites and apps, including social media platforms like Facebook and Instagram. According to SmallBizGenius.net, the average Tampa Bay area consumer is served more than 1700 of these ads per month.

Video advertising in Tampa Bay is forecast to account for 21% of all online ad dollars in 2022. Like search and display, millions of websites can support this type of advertising. This includes sites, apps, and platforms like YouTube, Roku Channel, Hulu, Paramount+, and most social media sites.

The remainder of online advertising dollars is expected to be spent on audio advertising, including streaming sites like Pandora and Spotify; or email marketing campaigns.

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Topics Streaming, Streaming Audio, digital advertising, online advertising, social media advertising, millennial parents, borrell associates, social media, OTT, streaming video, ad spending, advertising options, streaming television, internet advertising, streaming media, streaming TV, search engine marketing, sem

Recruitment Advertising In Tampa Bay: Best Way To Reach Job Candidates

Jan 7, 2022 4:10:27 PM / by Larry Julius

There are 123,853 small businesses in the Tampa-St. Petersburg-Clearwater, FL Metro Area, according to the US Census Bureau. Based on projections from the National Federation of Independent Business Owners (NFIB), nearly half of these companies have job openings they cannot fill.

As a result of the acute labor shortage, says the NFIB, 29% of small business owners rank the quality of labor as the most important problem they face. A year ago, only 21% said finding workers was their biggest issue.

The labor crunch in the Tampa Bay area is being driven, in big part, by a record-high number of employees voluntarily quitting their jobs. Just last month, according to the US Bureau of Labor Statistics, 4.5 million employees across the country left their current place of employment.

According to the Wall Street Journal, those who are not currently working say they are in no hurry to return to the workforce. The lack of urgency stems from five primary reasons:

  • 29% say they don't need to work right now because their spouse is employed
  • 28% say they cannot return to work because of care responsibilities at home
  • 25% say they don't need to return to work because they have a financial cushion
  • 20% say they are fearful of returning to work because of COVID-19
  • 5% say they do not need to return because of current unemployment benefits

There seems to be little chance that these resigned workers can be lured back into the labor force. Therefore, to fill open jobs, local business owners will need to focus their efforts towards recruiting among Tampa Bay's "passive" job candidates.

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Topics radio advertising, recruitment advertising, passive job seeker, radio recruitment advertising, social media advertising, online job boards, social media, job boards, employment advertising, help wanted, active job seekers, monster.com, indeed, zip recruiter

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