Every week, according to new Nielsen data, 2,225,469 adults tune in to a Tampa Bay radio station. This is more consumers than use social media, access local cable, watch broadcast TV, stream video channels, listen to streaming audio, read a newspaper, or download a podcast.

Based on per capita estimates from the National Retail Federation (NRF), Tampa Bay consumers are expected to spend between $50.5 and $51.4 billion at retail in 2022, a six to eight percent growth over the previous year. Utilizing radio's enormous advertising reach, local business owners can compel shoppers to spend this large pool of cash in their stores and on their websites.

The number of consumers reached is critical to the success of an advertising campaign.

According to a Nielsen study, after the actual content of the commercial message itself, reach is the most potent advertising element that can drive sales. Reach is more important than brand, recency, or even context. Tampa Bay radio provides local business owners with the most significant reach among consumers.

Eighty-four percent of all adults say they will celebrate Mother's Day in 2022. Based on per capita forecasts from the National Retail Federation (NRF), Tampa Bay consumers are expected to spend $321.8 million on the moms in their lives. This is a 13% increase over last year.

“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” said NRF President and CEO Matthew Shay.

The NRF spending projections indicate that Tampa Bay consumers will spend $70.8 million on jewelry and another $53.6 million on special outings such as dinner or brunch. This will be the highest level of Mother's Day spending ever in these categories.

Here is how this large pool of Mother's Day cash in Tampa Bay is expected to be distributed by all retail categories.

The NRF research indicates that men will outspend women 3-to-1 this year on Mother's Day gifts. Most of these dollars will go towards presents for their moms, stepmoms, and wives.

Of all the money spent, Tampa Bay consumers are expected to spend 36% online, 30% at department stores, 27% at specialty stores, and 23% at local small businesses.

To compete for a share of record-high Mother's Day spending this year, local business owners will need to advertise. By most key marketing metrics, the best way to reach holiday shoppers is by advertising on Tampa Bay radio.

Tampa Bay area consumers are expected to spend close to $51.3 billion at retail in 2022, based on per capita spending estimates from the National Retail Federation (NRF). This would be an eight percent increase versus 2021.

To capture significant shares of the increased retail spending, the 123,853 small business owners in the Tampa Bay area would typically invest in advertising. Persistent and pernicious inflation pressures, however, are starting to gnaw away at marketing budgets.

According to the National Federation of Independent Business Owners (NFIB), businesses cite inflation as their number one problem. For many Tampa Bay business owners, uncontrollable wholesale, transportation, and labor costs are forcing retailers to raise the prices they charge their customers. But, for many retail products, inflated retail prices can drive customers away. 

To limit consumer price increases and still make a profit, Tampa Bay business owners, then, are forced to cut expenses, including advertising and marketing. This means it is now imperative that the limited investments retailers can make in advertising must deliver the strongest returns possible. 

According to a recent study by Nielsen, advertising on Tampa Bay radio can provide the best return on investment (ROI) for local retailers.

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.

When WDAE-AM became Tampa Bay's first radio station in 1922, there was no Facebook, no Xfinity, no Sirius/XM, no Netflix, and no podcasts. It would be 31 years before there was even a local TV station.  Consequently, it was pretty easy for radio to become the number one reach medium among local consumers.

Over the past 99 years, Tampa Bay business owners have come to depend on the mammoth reach of radio among local shoppers to successfully market the goods and services they sell. Advertising on Tampa Bay radio has helped Florida companies to survive and thrive during world wars, natural disasters, recessions, depressions, and even a pandemic.

Heading into 2022, local consumers have more media choices than ever before. But, despite the overabundance of social media, video streaming, audio streaming, cable, and other technological marvels, Tampa Bay radio is still the most used advertising medium.

Every week, according to Nielsen, Tampa Bay radio reaches 2.2 million adult consumers. This is significantly more people than are reached by local TV, cable, social media, streaming video, streaming audio, or newspapers.

Because of its humongous reach, area small business owners advertise on Tampa Bay radio to successfully market the products and services they sell.

Many first-time advertisers on Tampa Bay radio will ask how many times a consumer needs to hear a commercial before they become a customer.  Often the business owner is told that to be effective, a consumer needs to be exposed to a message three times before they will buy.  Unfortunately, this prescription for a three-time frequency is more myth than substance.

A study by Nielsen provides some data-based insights about effective frequency, But first, here's the origin of the mythological rule of three.

To maximize success, every Tampa Bay business owner needs to advertise.

"Think you have a great product?" asks the US Small Business Administration. "Unfortunately, no one’s going to know about it unless you advertise.”

The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business.”

According to the US Census Bureau, there are 123,853 small businesses in the Tampa Bay area. This geography includes Tampa, St. Petersburg, Clearwater, and every point in between.  Most of these diminutive companies have limited dollars to invest in advertising.  

Advertising successfully in Tampa Bay is achievable, though, with a small budget if the available funds are invested wisely.  Oftentimes, this means selecting one medium rather than spreading money over several.

So which medium makes the most sense for small business owners with limited budgets? By most key advertising metrics, advertising on Tampa Bay radio is the best option.

Advertising is crucial to the success of Tampa Bay business owners. According to Investopedia, "lack of adequate marketing and publicity are among the issues that drag down small business".

According to Borrell Associates, a company that tracks advertising trends across the country, Tampa Bay business owners are expected to spend $1.9 billion to advertise the goods and services they sell. This represents a 6.9% increase versus last year.

The majority of these dollars are being spent by Tampa Bay business owners to capture a significant share of the $46.3 billion dollars local consumers will be spending this year. These estimates are based on a revised forecast from the National Retail Federation (NRF).

Of course, there is an over-abundance of ways a local business owner can advertise. Perhaps the best way to generate sales from local consumers is with Tampa Radio. Here are the top five reasons why...

Retail spending in the Tampa Bay area is expected to reach $46.3 billion this year, a 13.5% increase versus 2020. These estimates are based on a revised forecast from the National Retail Federation (NRF).

Since May 31, 1922, when WDAE signed on as the first station in Tampa Bay, local business owners have depended on radio advertising to help market their goods and services to West Florida consumers.  But has the Coronavirus pandemic altered the medium's ability to deliver customers to ring up sales for local retailers?

Two critical marketing metrics indicate that advertising on Tampa radio remains the best way for a small business to advertise.

The first measurement is reach. This is the number of different consumers who are exposed to an advertising campaign.

The second measure is return-on-investment (ROI). This is the amount of sales a business can expect for every one dollar invested in advertising.

Based on these metrics, here is how advertising on Tampa radio measures up to other options available to local small business owners.

Earlier this year, based on projections from The National Retail Federation, Tampa Bay area consumers were expected to spend more than $43.9 billion at retail this year, a 6.5% increase versus 2020. New data, however, indicates spending will be remarkably higher.

The NRF revised its data this month, and now expects annual growth of 10.5% to 13.5%. Based on these revisions, the Tampa Bay area retail economy could now top $46.3 billion. Excellent news for West Florida small business owners.

“The economy and consumer spending have proven to be much more resilient than initially forecasted,” NRF President and CEO Matthew Shay said. “The combination of vaccine distribution, fiscal stimulus, and private-sector ingenuity have put millions of Americans back to work. While there are downside risks related to worker shortages, an overheating economy, tax increases and over-regulation, overall households are healthier, and consumers are demonstrating their ability and willingness to spend. The pandemic was a reminder how essential small, mid-size and large retailers are to the everyday lives of Americans in communities nationwide.”

To put in historical context for Tampa Bay small business owners, Mr. Klenhenz noted that he anticipates the fastest growth the U.S. has experienced since 1984. The reopening of the economy has accelerated much faster than most had believed possible a year ago.

To capture the largest possible share of spending growth, local retailers will need to advertise. By the most crucial marketing metrics, the best best way to reach area consumers is by advertising on Tampa radio.