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Who'll Be Buying As Tampa Bay Small Businesses Reopen?

May 19, 2020 7:16:00 AM / by Sample HubSpot User

To slow the spread of COVID-19, the Governor of Florida shut down all but the most essential businesses in the state on April 3. This public safety measure inflicted a severe disruption to Tampa Bay's $54.1 billion retail economy.

As local small business owners begin to reopen, each must concentrate on supercharging their cash flows to compensate for weeks of consumer abstinence. Turning the lights back on and hanging out a welcome sign might not be enough, though, to bring even the most loyal customers back.

Some customers may not return because of personal safety concerns. Other customers may have discovered alternative sources to purchase goods and services.

But, there is one thing every Tampa Bay small business owner can be assured of. Consumers will not return if they aren't aware that a business has reopened.

Advertising is a potent tactic for any Florida small business that needs to reintroduce itself to local consumers.

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

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Topics small business, small business owner, store traffic, best way to advertise, radio advertising, retail stores, recession, Retail Sales, Retailer, retail, corona, coronavirus, covid19, crisis marketing, reopening

Should Your Tampa Bay Small Business Continue To Advertise?

May 16, 2020 7:21:00 AM / by Larry Julius

COVID-19 has had a profound effect on cash register receipts in Tampa Bay. Every day small business owners from Clearwater to Brandon are being challenged by the pandemic induced recession.

Just yesterday, for instance, the US Commerce Department announced that April retail sales were down by 20% vs. the same month last year. This is sure to take a massive bite out of the $54.1 billion in annual consumer spending Tampa area businesses had been expecting in 2020.

“April was the cruelest month,” Craig Johnson, president of Customer Growth Partners, told the Wall Street Journal. "Retail spending likely bottomed out in the first week of May with spending picking up due to Mother’s Day and gradual state reopenings.

“It’s going to be less worse with each month,” said Mr. Johnson, “as people slowly come out of the foxhole and enter the mainstream of American consumerism.”

The ability of a Tampa Bay small business to survive past the lockdowns will depend on the steps it takes now.

WARC, a company that collaborates with more than 50 respected marketing organizations, including the Advertising Research Foundation and the Association of National Advertisers, has identified ten tactics that businesses should implement immediately. The #2 step on this list: Keep advertising if you can.

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Topics small business, small business owner, best way to advertise, recession, corona, coronavirus, covid19, crisis marketing, WARC

Who Do Tampa Bay Consumers Trust During A Crisis?

Apr 27, 2020 1:39:22 PM / by Larry Julius

For Tampa Bay small business owners, marketing and advertising are crucial to surviving any crisis, including Coronavirus. The business literature has an abundance of case studies from depressions, recessions, natural disasters, and, yes, pandemics that affirm this existential conclusion.

Advertising, however, may seem extravagant right now to Florida businesses that are struggling to make rent, purchase inventory, and meet payroll. Henry Ford, though, is often quoted as saying, "Stopping advertising to save money is like stopping a clock to save time."

Therefore, as business owners from Clearwater to Lakeland (and every point in between) are cinching their belts tighter-than-ever to stay alive, the dollars invested in advertising must be spent in the most effective manner possible.

During periods of uncertainty, advertising works the hardest when placed in within media that consumers trust.  During the time of COVID-19, advertising on Tampa radio has earned that trust among local consumers.

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Topics small business, small business owner, recall, best way to advertise, reach, radio advertising, recession, corona, coronavirus, covid19, crisis marketing, context, trust

Marketing During The Corona Crisis: Advice For Tampa Small Businesses

Apr 7, 2020 10:06:21 AM / by Larry Julius

In 'normal' times, Tampa Bay consumers would be expected to rack up $54 billion in annual retail sales. Of course, since the onset of the Coronavirus crisis, nothing has been normal.

But as Gordon Borrell, CEO of Borrell Associates, explained to members of the Tampa Bay small business community via teleconference, consumers are still spending. This, it turns out, is normal.

Mr. Borrell shared research from Ibis that demonstrates during every type of crisis, including depressions, recessions, floods, hurricanes, earthquakes, fires, and, now, pandemics, consumers still spend.

The business literature contains an abundance of examples of how continuing to market and advertise during an economic crisis can help a company survive and emerge from the episode even stronger than before.

Tampa Bay small business owners who do continue to advertise and market, however, should consider modifying their pre-crisis strategy.

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Topics small business, small business owner, best way to advertise, radio advertising, retail, corona, coronavirus, covid19, crisis marketing, borrell associates

Crisis Marketing: What Tampa Bay Small Business Owners Should Know

Mar 31, 2020 12:43:50 PM / by Larry Julius

Last week, Gordon Borell, CEO of Borrell Associates shared insights with Tampa Bay small business owners on the value of marketing to consumers during a crisis. A video replay of the teleconference is available by clicking here.

Mr. Borrell is the CEO of Borrell Associates. His company is one of the most trusted sources of trends and forecasts for local media today.

According to Mr. Borrell, despite social distancing and economic jitters induced by the Coronavirus chaos, consumers are still spending money.

He points to research from Ibis that consumer consumption continues in almost every crisis including, depressions, recessions, floods, hurricanes, earthquakes, fires, and, now, pandemic.

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Topics small business, small business owner, best way to advertise, radio advertising, small business advertising, corona, coronavirus, covid19, crisis marketing

Tampa Radio: Who's Listening During The Coronavirus Crisis

Mar 27, 2020 1:41:11 PM / by Larry Julius

In a typical week, 2.1 million adult consumers tune-in to Tampa radio stations.  But, since the onset of the Coronavirus, the weeks have not been typical.

Before social-distancing and work-from-home orders, 1.3 million Tampa Bay consumers would drive to-and-from work each day. More than 94% of these commuters could be reached by radio.  

Tampa Bay small business owners who depend on radio advertising to market their goods and services, therefore, might be concerned that the disruption in commuting patterns could depress the amount of time consumers spend with local radio.

According to market research, however, radio listening remains an important part of the daily life of consumers. Even amid the current chaos.

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Topics small business, small business owner, best way to advertise, radio advertising, retail, corona, coronavirus, covid19, crisis marketing

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