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Advertising On Tampa Bay Radio Still #1 Way to Reach Consumers

Jun 8, 2022 2:00:23 PM / by Larry Julius

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.

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

Mother's Day Spending In Tampa Bay Will Top $322 Million In 2022

Apr 22, 2022 12:17:29 PM / by Larry Julius

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.

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Topics Return On Investment, ROI, best way to advertise, reach, radio advertising, retail stores, advertising to mothers, advertising to moms, holiday, holiday shopping, mother's day, Retail Sales, Retailer, retail, reach & frequency, advertising reach, holiday advertising, retail spending, advertising return on investment, advertising roi

Advertising ROI: Tampa Bay Radio Best Choice For Retailers

Apr 14, 2022 12:01:58 PM / by Larry Julius

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.

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Topics Return On Investment, ROI, reach, retail stores, Retail Sales, Retailer, retail, reach & frequency, advertising reach, retail spending, advertising return on investment, advertising roi

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

Advertising On Tampa Bay Radio: The 3 Frequency Myth

Aug 18, 2021 4:11:09 PM / by Larry Julius

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.

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Topics Advertising Frequency, Frequency, small business, small business owner, reach, radio advertising, tampa small business owners, effective radio commercials, small business advertising, effective advertising, reach & frequency, small business marketing, advertising reach, effective frequency

Best Way To Advertise In Tampa Bay With A Limited Budget

Aug 10, 2021 11:05:50 AM / by Larry Julius

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.

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Topics Return On Investment, ROI, small business, small business owner, best way to advertise, reach, radio advertising, radio commercials, tampa small business owners, small business advertising, reach & frequency, small business marketing, advertising reach, advertising return on investment, duplication

Advertising In Tampa Bay: Five Amazing Facts About Local Radio

Jul 23, 2021 2:56:52 PM / by Larry Julius

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...

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Topics Return On Investment, ROI, small business, small business owner, millennials, best way to advertise, reach, radio advertising, radio commercials, tampa small business owners, small business advertising, millennial parents, reach & frequency, small business marketing, advertising reach, time spent listening, advertising return on investment

Advertise On Tampa Radio: Still Best Option For Small Business

Jul 9, 2021 11:28:18 AM / by Larry Julius

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.

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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

Tampa Bay Retail Sales Expected To Blow Past Forecasts

Jun 24, 2021 2:56:13 PM / by Larry Julius

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.

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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 In Tampa Bay: What's The Best Way To Reach Pet Owners?

May 13, 2021 7:20:00 AM / by Larry Julius

A surge in pet adoptions and sales during the pandemic has increased the number of pet owners in the Tampa Bay area to 1,384,240, according to Nielsen.

As a result, the amount of money that will be spent in the Tampa Bay during 2021 on domestic dogs, cats, birds, ferrets, and other cuddly creatures will achieve a record-high $1.1 billion. These figures are based on recent forecasts from The American Pet Products Association (APPA),

“We have reached a critical milestone in 2020, generating $103.6 billion in sales [in the U.S.],” said Steve King, President, and CEO of APPA. “We are bullish for the coming year, projecting growth of 5.8% - well above the historical average of 3 to 4%."

Tampa Bay pet owners will be spending in four ways:

  1. Food & Treats which includes everything from canned and bagged food to biscuits and chewies.
  2. Veterinary Care and Product Sales which includes routine veterinary care, surgical procedures, and sales of pharmaceuticals and other products through veterinary clinics
  3. Supplies, Live Animals, and Over-The-Counter Medications which, in addition to dogs and cats. includes fish, birds, small animals, and reptiles. This also includes cages, food and water bowls, as well as leashes and collars.  OTC includes medications for allergy relief, gastric distress, and oral hygiene.
  4. Other includes services such as boarding, grooming, and pet sitting.

To capture a significant share of the local pet economy, local business owners who provide these four types of goods and services will need to advertise.  By almost any marketing metric, the best way to reach pet owners is by advertising on Tampa radio.

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Topics Return On Investment, ROI, millennials, best way to advertise, reach, radio advertising, retail stores, pet owners, Retail Sales, Retailer, retail, reach & frequency, advertising reach, retail spending, dog owners, cat owners

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