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Larry Julius


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How Much Do Philadelphia Business Owners Spend on Advertising?

Apr 16, 2021 9:49:16 AM / by Larry Julius

Now is a crucial time for Philadelphia small business owners to advertise.  

According to the Conference Board, consumer confidence has surged to 110, the highest it has been since the onset of the pandemic last March.  The index has bounced back from a low of 89.6 in February. 

Moving forward, Delaware Valley business owners can expect buyer optimism to remind high.

“The recovery in consumer confidence is set to continue in the coming months, buoyed by the combination of improving health conditions and wider vaccine distribution,” said Lydia Boussour, lead U.S. economist at Oxford Economics. “This should support hearty consumer spending and pave the way for a mini-boom in economic activity this spring and summer.”

As Philadelphia consumers gain confidence, they are expected to unleash the record $17.9-billion in personal savings amassed during the pandemic. This number is based on figures reported by Barron's in November. 

This combination of consumer confidence and the cache of cash-on-hand has led the National Retail Federation (NRF) to forecast a 7% increase in retail spending in 2021 versus last year.

To claim a significant share of the expected spending tsunami, Philadelphia business owners plan to boost advertising investments this year.

According to Borrell Associates, a company that tracks advertising trends across the country, Philadelphia business owners are expected to spend $3.6 billion to advertise the goods and services they sell. This represents a 7.0% increase versus last year.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, roi, return on investment, small business owner, radio advertising, small business, advertising on a budget, reach, reach and frequency, small business marketing, best way to advertise in philadelphia, ad spending

Why Audio Advertising In Philadelphia Drives Purchase Decisions

Apr 8, 2021 12:05:09 PM / by Larry Julius

Philadelphia consumers are expected to spend nearly 7% more at retail in 2021 than in 2020. This forecast is based on recently released data from the National Retail Federation.

To lay claim to a significant share of growing consumer spending, Delaware Valley retailers will need to advertise.

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

“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."

Scientifically speaking, the fastest way a marketing message can reach the areas of a Philadelphia consumer's brain responsible for purchase decisions is through the ear.  That's why audio advertising can be far more potent than visual messaging.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Pandora, Streaming Audio, retail, small business owner, radio advertising, small business, Spotifty, Retail Sales, retailer, retail stores, small business marketing, sirius/xm, best way to advertise in philadelphia, retail spending, podcast

Consumers Stick With Philadelphia Radio Despite Pandemic

Mar 30, 2021 2:11:30 PM / by Larry Julius

In 1922, when WGL-AM became the first radio station in Philadelphia, many considered the medium a fad.  Even in 1937, a hit song written by George Gershwin, Our Love Is Here To Stay, proclaimed radio to be a "passing fancy and in time may go".

Philadelphia radio, however, has survived the advent of talking-movies, television, eight tracks, and cassettes in stereo.  More recently, radio has withstood a tsunami of digital options including, YouTube, SiriusXM, Pandora, and Spotify.

As the Coronavirus pandemic rolls over into a second year, Philadelphia radio has hung tough and not ceded its ground despite listener's shifting lifestyles.  This is crucial news for small business owners who depend on local stations to market their goods and services.

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Topics Radio Listening, roi, return on investment, advertise in delaware valley, reach, reach and frequency, covid 19, coronavirus, in-car audio, pandemic, listening location, time spent listening, work from home, best way to advertise in philadelphia, commuting

OTT & CTV: Who Watches Streaming Video In Philadelphia?

Mar 19, 2021 12:13:07 PM / by Larry Julius

Each week, according to Nielsen, 63.9% of Delaware Valley consumers watch video programs that aren't delivered over-the-air by local TV stations.  They aren't coming from a local cable company or by satellite.  Instead, these programs are being streamed directly to viewers via an internet connection.

This type of streamed video content is called OTT (Over-The-Top-Television) or CTV (Connected-Television). These two terms are sometimes are often used interchangeably but do have a subtle difference.

OTT generally means the video is watched on a small device like a computer, tablet, or smartphone.  CTV, on the other hand, typically means the content is viewed on a smart-TV or a regular television using a streaming device like a Roku or Amazon stick.

In Philadelphia, OTT/CTV has exceeded the weekly reach of local newspapers and streaming audio services such as Pandora and Spotify. The medium is rapidly approaching the reach of local cable and broadcast TV stations.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, small business owner, small business, small business marketing, best way to advertise in philadelphia

Philadelphia Homeowners Plan To Spend Stimulus Cash On Improvements

Mar 15, 2021 1:52:00 PM / by Larry Julius

Delaware Valley residents will begin receiving economic stimulus checks  from the Internal Revenue Service as early as today.  In all, local consumers will receive more than $6.6 billion in payments.

This infusion of cash into the Philadelphia area economy was authorized by Congress last week in the American Rescue Plan legislation. 

The stimulus relief legislation calls for a one-time payment of $1,400 to single adults. Married couples who filed jointly will receive $2,800 total ($1,400 apiece). Families will get an additional $1,400 for each eligible dependent regardless of age. A family of four could get $5,600 in total payments. Like the second round of stimulus payments, the third round specifically prohibits payments to anyone who died before January 1, 2020.

Many of the stimulus dollars will end up in the wallets of 1.3 million Philadelphia area homeowners. Based on research from Modernize, a leader in the home improvement and home services industry, 57% of these consumers are planning to spend all or part of their checks on home improvement projects.

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Topics Best Way To Advertise, Home Improvement, roi, return on investment, radio advertising, home remodeling, home owners, best way to advertise in philadelphia, roofing, contractors, stimulus checks, replacement windows

Does Anyone Listen To Philadelphia Radio At Night?

Mar 9, 2021 3:41:04 PM / by Larry Julius

Each week, according to Nielsen, more than 3.6 million adult consumers tune-in to a Philadelphia radio station. This is significantly more than watch local TV or cable. More than stream video channels like Netflix or Hulu. More than read local newspapers. More than use Facebook or Instagram. More than listen to online audio services like Pandora and Spotify.

But almost everyone knows (including many who advertise on Philadelphia radio) that consumers only listen to local radio stations during the day. Right? Wrong!

According to Nielsen, 45% of local consumers listen to Philadelphia radio stations each week between 7:00pm and 12:00am. This is a larger audience than Pandora, Spotify, and Instagram combined reach during an entire week.

For Philadelphia small business owners, radio's immense nighttime audience offers a unique value proposition.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Radio Listening, Effective Advertising., Time of Day, small business owner, small business, advertise on radio, small business marketing, prime time, advertise on Philadelphia Radio, nighttime

Grab A Larger Share Of Philadelphia's Accelerating Retail Spending

Mar 4, 2021 1:06:09 PM / by Larry Julius

Delaware Valley consumers are expected to spend upward of $72.1-billion at retail in 2021. This would be, at minimum, a 6.5% jump over 2020. The forecast is based on newly released estimates by the National Retail Federation.

“Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up demand and widespread distribution of the vaccine will generate increased economic growth, retail sales and consumer spending,” NRF President and CEO Matthew Shay said.

“From the outset of the pandemic, retailers have gone above and beyond even the most conservative safety guidelines to protect and serve their associates and consumers alike."

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 consumers is by advertising on Philadelphia radio.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, retail, consumer spending, small business owner, radio advertising, small business, website traffic, Retail Sales, retailer, retail stores, small business marketing, online shopping

Advertise in Philadelphia: How Local Consumers Use The Internet?

Feb 25, 2021 2:34:09 PM / by Larry Julius

Delaware Valley business owners are expected to invest $1.3-billion during 2021 to advertise to consumers connected to the internet. This forecast was produced by Borrell Associates, a company that tracks business advertising expenditures across the country.

These online marketing dollars will be spent on banner advertising, search engine marketing, email, as well as audio and video advertising. This is all to capture the attention of shoppers and buyers as they go about their connected days.

According to Nielsen, 95.2% of adult consumers in the Philadelphia area have access to the internet. They connect, primarily, with desktop and laptop computers; smartphones; or tablets.

Ninety-seven percent of Delaware Valley adults spend at least one hour per week online, with most spending at least 10 hours connected.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Advertise In Philadelphia, social media advertising, Online Advertising, small business owner, facebook advertising, small business, digital advertising, instagram, facebook, twitter, social media, small business marketing, ott, ctv, SVOD, online shopping, avod, internet

5 Key Advertising Stats Philadelphia Small Business Owners Should Know

Feb 22, 2021 1:15:18 PM / by Larry Julius

Since 1922, advertising on Philadelphia radio has helped small business owners survive and thrive during times of peril. This includes world wars, natural disasters, depressions, and recessions.

Even during a pandemic, by almost every key marketing metric, radio advertising remains the best way for a Delaware Valley business to market its goods and services.

To prove the point, here are five statistics that vividly demonstrate the value of advertising on Philadelphia radio.

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Topics Radio Listening, roi, return on investment, Online Advertising, website traffic, reach, retail stores, website visits, in-car audio, radio commercials, listening location, advertise on Philadelphia Radio, best way to advertise in philadelphia

Advertising In Philadelphia: Reaching Female Consumers

Feb 10, 2021 9:44:38 AM / by Larry Julius

There are 2,218,500 adult women in the Delaware Valley. Based on research from the Harvard Business Review, as a consumer group, females account for 70-80 percent of all consumer purchasing through a combination of their buying power and influence.  According to Nielsen, this will amount to between $74.4 billion and $85 billion this year.

Overall, according to the Bureau of Labor Statistics and the US Census Bureau:

  • Single women across all income brackets spend, on average, $34,817 on goods and service
  • Working married women contribute over a third of their families’ incomes
  • Over a quarter (29.4%) of wives earned more than their husbands in 2018, an increase from 15.9% in 1981.

Furthermore, according to research published by Forbes:

  • The top homebuyers after married couples are single women (18%, double the percentage for single men at 9%).
  • Women are 50% more likely than men to regularly watch online how-to videos.
  • 94% of women between the ages of 15-35 spend over an hour per day shopping online.
  • 70% of travel consumers are women.
  • 85% of women say that if they like a brand, they will remain loyal to it.

For Philadelphia  area small business owners to successfully capture a meaningful share of the local female economy requires advertising.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, working mothers, mothers, advertising to women, small business owner, small business, small business marketing, best way to advertise in philadelphia, market to women

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