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Wow!! Tampa Bay Millennials Turn 40 This Year

Apr 29, 2021 3:16:26 PM / by Larry Julius

Millennials In Tampa Bay: AdvertisingThere are 637,624 millennials in the Tampa area.  The oldest of them turn 40 this year. According to The Pew Research Center, millennials comprise the generation of Americans born between 1981 and 1996.

As a consumer group, millennials account for an outsized percentage of retail spending. This generation represents 24.7% of the Tampa area population but almost one-third of metro-area sales. 

All in, Tampa Bay millennials are expected to ring up more than $20.5 billion in purchases during 2021.  You name it, millennials are planning to buy it.

According to Nielsen, over the next 12 months, Tampa Bay millennials will show up in huge numbers at auto dealerships, furniture stores, mattress stores, appliance stores, home improvement stores, and scores of other area retailers and service providers.

Advertise In Tampa Bay: Millennials 2021

To earn a meaningful share of millennial spending, Tampa area retailers and small business owners will need 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.”

“Advertising, if done correctly," says the SBA, "can do wonders for your product sales, and you know what that means: more revenue and more success for your business.”

By almost any measurements, the best way to reach local millennials with advertising is on Tampa radio.Learn How To Advertise On Tampa Radio

Every week, according to Nielsen, Tampa radio reaches nearly 90% of all millennials. This is remarkably more than watch local TV, cable, or streaming video. It's more than use social media sites like Facebook and Instagram.  It's more than listen to streaming audio from Pandora and Spotify.

Advertising In Tampa Millennials (DEC20)

The number of different Tampa consumers reached by an advertising campaign is crucial to success.

A study, Nielsen discovered the elements of an advertising campaign that had the most potent effect on purchase behavior. The results indicate that reach (the number of different consumers exposed to a campaign) was responsible for driving more sales for the advertiser than branding, recency, context, or targeting. Only the message itself (creative) was more potent.

Advertise In Tampa Bay: Successful Campaign

In addition to superior reach, advertising on Tampa radio also delivers an extraordinary return-on-investment.

Between April 30 and May 27 of last year, Nielsen analyzed the sales results of a retailer who conducted an advertising campaign during that period using both radio and TV.*

The bottom line of this study: Radio advertising produced a $28,000 increase in sales for every $1000 the retailer spent.

These findings confirm 21 previous studies by Nielsen, which demonstrate that, on average, radio advertising returns $10,000 in advertising for every $1000 invested. The chart below shows the range of returns from each study.

Advertising On Tampa Bay: Radio Return On Investment

Tampa millennials defy the stereotypes foisted upon their generation. They are, in fact, hardworking homeowners with families and jobs. But most importantly, these 25-40-year-olds are shaping Tampa's retail economy.

*Study conducted by Nielsen and commissioned by Cumulus/Westwood One

More Advertising Advice For Tampa Bay Small Business Owners

Advertise On Tampa Radio

Topics: Return On Investment, ROI, small business, small business owner, millennials, best way to advertise, reach, tampa small business owners, retail stores, small business advertising, millennial parents, Retail Sales, Retailer, retail, reach & frequency, small business marketing, advertising reach, retail spending

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