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tampa_brands_HORIZONTAL_COLOR Advertise In Tampa

Business Owners Ask: How Do Tampa Bay Consumers Spend Their Money?

Oct 14, 2019 7:57:00 AM / by Larry Julius

Tampa Bay consumers are expected to spend $59.3 billion at retail this year, according to Nielsen. This means that every household, on average, will be paying out $45,646

To capture a larger share of these dollars, local small business owners need to know the answer to two questions.

The first question is, where is this enormous amount of cash being spent?  The list below details the answer.

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Topics small business owner, best way to advertise, tampa radio stations, retail stores, advertise in tampa bay, advertising in Tampa, small business advertising, consumer spending

How Tampa Bay Retailers Can Earn A Greater Share Of Holiday Spending

Oct 10, 2019 6:40:00 AM / by Larry Julius

Tampa Bay consumers are expected to spend $7.3 billion on this year's holiday shopping, based on predictions by The National Retail Federation.  This would be a 4% increase over last year.

Deloitte, one of the world's top four accounting firms, forecasts similar growth.

"The projected holiday season growth is, in part, due to the current health of the labor market,” said Daniel Bachman, Deloitte's U.S. economic forecaster. “Near record-low unemployment rates, coupled with continued monthly job creation, may encourage people to spend more during the holiday season. The economy is still growing, albeit at a slower rate. Additionally, we continue to see consumer confidence elevated, which also helps boost holiday spending."

For most Tampa Bay retailers, holiday spending brings in about 20% of annual sales But, long gone are the days when the bulk of this shopping occurred between Black Friday and Christmas.

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Topics small business, small business owner, best way to advertise, tampa radio stations, retail stores, advertise in tampa bay, advertising in Tampa, small business advertising, holiday shopping, christmas shopping

Why Advertising On Tampa Radio Might Fail

Oct 3, 2019 7:39:00 AM / by Larry Julius

Every so often, when a Tampa Bay small business owner advertises on a local radio station, it isn't successful.

There can be no debate, though, when implemented correctly, advertising on Tampa radio works, and works well.

"Last year," says Jon Polizzi, "our business grew 67%.  The only thing we did differently was to add radio advertising into our marketing mix. I attribute most of our growth to what we have done on the radio."

Mr. Polizzi along with his brother have owned Electric Today, LLC since 2004. The company provides residential electrical and air conditioning repairs to customers in Hillsborough, Pinellas, and Manatee counties.

"We advertise on Tampa radio every week with very high repetition. Our return on investment (ROI) has been really good," say Mr. Polizzi. "I know if I can beat my name into someone's head enough times, they will know us when they need electrical or air conditioning repairs."

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Topics Return On Investment, ROI, small business owner, best way to advertise, radio advertising, advertise on tampa radio, advertising in Tampa, advice, effective radio commercials, small business advertising

Recession? Why Tampa Bay Business Owners Need To Keep Advertising

Sep 25, 2019 4:15:46 PM / by Larry Julius

In the history of the United States, there have been more recessions than presidents, 47 vs. 45.  Many economists believe number 48 could be imminent.  

The textbook definition of a recession is a period of declining economic performance across an entire economy, frequently measured as two consecutive quarters. In other words: it's a time when most Tampa Bay small business owners sell fewer of their goods and services.

There is one thing a recession is not.  It is not a time for local business owners to stop advertising.

One of the greatest marketers of all time, Henry Ford, once said, "The man who stops advertising to save money is like the man who stops the clock to save time."

There are many examples of companies that have proven this aphorism to be true. Your bowl of cereal this morning could be one example.

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Topics small business owner, best way to advertise, tampa radio stations, advertise in tampa bay, advertising in Tampa, small business advertising, recession

Tampa Bay Small Business Owners Cash In On Halloween Shopping

Sep 20, 2019 8:03:00 AM / by Larry Julius

Based on information from the National Retail Foundation, Tampa Bay consumers will be spending $79 million on Halloween this year. 

Typically, 80% of all Halloween shopping, according to the NRF, will occur between now and October 16.  The remaining dollars will be spent in the last 14 days leading up to the holiday.

Nearly 53% of consumers in Tampa Bay are expected to participate in Halloween this year, each spending, on average, about $86.  This money will go towards the purchase of candy, decorations, costumes, pumpkins, and greeting cards.

Almost every type of small business in Tampa Bay enjoys a taste of this spending. This includes hardware stores, convenience stores, craft stores, fabric stores, thrift stores, florists, card stores, consignment shops, haunted houses, home decor store, bakeries, and, of course, candy stores.

To claim a significant share of this Halloween cash will require local small business owners to advertise.  The key to successful advertising is reaching as many Halloween shoppers as possible over the next four weeks.

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Topics store traffic, best way to advertise, radio advertising, retail stores, advice, small business advertising, buy local, holiday, halloween, pet owners

How Tampa Bay Retailers Can Keep Customers Buying Local

Sep 18, 2019 5:06:10 PM / by Larry Julius

Business owners who sell mattresses in the Tampa Bay area might be losing sleep.

Last year, local consumers spent close to $130 million for new mattresses.  A recent survey conducted by Piper Jaffray indicates that many retailers believe  that the category will become even stronger during the last four months of this year.

The reason for the owners' sleep loss is that many customers are skipping local stores and buying their mattresses on the internet. According to Statista, 37% of mattress buyers are now purchasing from one-of-175 direct-to-consumer sites like Casper or from online retailers like Amazon. 

To keep customers shopping local requires advertising.

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Topics store traffic, best way to advertise, retail stores, advertise on tampa radio, advertise in tampa bay, small business advertising, buy local

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

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