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Who's Spending Now? Tampa Bay Small Business Owners Ask.

Dec 4, 2020 3:31:12 PM / by Larry Julius

There are 716,000 adults in the Tampa Bay area who have earned a four-year college or postgraduate degree, according to research from Nielsen. A study from the Federal Reserve indicates that these educated consumers have been least affected by the economic consequences of the pandemic.

"While the labor market disruptions have affected workers in a wide set of industries and occupations, those without a college degree have experienced the most severe impact," say Mary C. Daly, Shelby R. Buckman, and Lily M. Seitelman authors of The Unequal Impact of COVID-19 in the Economic Letter published by the Federal Reserve of San Francisco.

Although the unemployment rate increased among consumers of every education level in late February when the Governor of Florida lockdown the state to slow the spread of the Coronavirus, the smallest increase was among those with bachelor or postgraduate degrees, according to the Bureau of Labor Statistics.

Seven months later, job recovery among those with college degrees is closer to pre-pandemic levels than consumers with lower levels of educational attainment.

Many small business owners have seen the correlation between advertising and survival during the economic crisis inflicted by the pandemic.  With precious few dollars to invest, it is crucial that every advertisement reaches consumers who have disposable income to buy. Right now, the most likely spenders are customers with college degrees.

By key advertising metrics, the best way to reach consumers with higher education is on Tampa radio.

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Topics small business, small business owner, best way to advertise, radio advertising, radio commercials, tampa radio, tampa small business owners, Hispanic radio, small business advertising, nobody listens to radio, college graduates, small business marketing, advertising on radio, radio history, tampa bay radio, education

Tampa Bay Media: Reach By Consumer Demographics

Sep 12, 2019 3:13:31 PM / by Larry Julius

Advertising is critical to the success of every Tampa Bay small business owner.  One of the most powerful elements of any advertising campaign is how many people it reaches.

Nielsen, the world's largest consumer insights company, found that advertising reach has a more significant effect on sales than branding, recency, and context.

There are many ways a local business owner can advertise. This includes traditional media like Tampa radio, local TV, and newspaper. It also includes online advertising options such as Facebook, Instagram, and Pandora.

They type of customer an individual business needs to reach depends on the goods and services the company sells. For instance, a daycare operator might want to reach households with young children. On the other hand, a real estate agent could be looking for consumers in the market to purchase a new home.

The charts below reveal how the different advertising options available to Tampa Bay business compare in terms of the ability to reach customers with specific characteristics. This includes age, income, education, employment status, political affiliation, number of children, ethnicity, and purchase intent.

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Topics small business, Television Advertising, best way to advertise, reach, tampa radio stations, tampa small business owners, retail stores, Hispanic radio, Spanish Radio, advertise on tampa radio, advertise in tampa bay, advertising in Tampa, social media advertising, newspaper advertising, small business advertising

10 Reasons A Tampa Bay Small Business Might Fail

May 20, 2019 7:40:00 AM / by Larry Julius

Some of the bravest people in Tampa Bay are small business owners.  These hearty entrepreneurs invest their passion, their hope, their time, and, of course, their money despite the odds.

According to the Small Business Administration (SBA), the good news is that 80% of small businesses make it through the first year. After that, though, only about half will make it to their fifth anniversary. Even fewer, 33% will keep their doors open for ten years.

CBInsights performed an analysis to determine the top ten reasons small business owners fail.  I have included the entire list. But, of particular importance, is reason #8, "poor marketing". This subject will be discussed in more detail because this is where advertising on Tampa radio stations can help business owners not to fail.

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Topics Return On Investment, ROI, Home Improvement, Frequency, small business, small business owner, top of mind, Bakery, recall, reach, radio advertising, tampa radio, tampa radio stations, tampa small business owners, retail stores, Hispanic radio, Spanish Radio

How Big Does A Small Business Need To Be To Advertise on Tampa Radio?

May 13, 2019 7:50:00 AM / by Larry Julius

How big does a small business need to be before it can afford to advertise on Tampa radio? The owners of Ana Delicias Bakery will be the first to tell you: size does not matter.

Ana Delicias Bakery in Tampa is not just a small business. It's a tiny, family-owned business with big ambitions. Advertising on local radio is helping the business raise the dough to grow.

"Radio advertising is not an expense for us, It is an investment," says Paula Tavarez who co-owns the bakery with her cousin Ana Lizardo. "That investment has paid off."

There are more than 200,000 small businesses in Tampa Bay.  Each of them is competing for a share of the $54-billion area consumers will spend this year.

To succeed, the US Small Business Administration (SBA) recommends that to succeed, every local business consider advertising. 

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Topics Return On Investment, Restaurants, small business, Bakery, store traffic, best way to advertise, radio advertising, tampa radio, tampa radio stations, tampa small business owners, retail stores, Hispanic radio, Spanish Radio, success story

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