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Traffic In Philadelphia Is Picking-Up. Is Your Small Business Ready?

Jun 3, 2020 1:10:12 PM / by Larry Julius

More than 85% of Delaware Valley households own at least one vehicle. 

Pre-pandemic, 76% of workers spent, on average, 66 minutes every weekday in these cars commuting to-and-from their jobs.  

On their way to work, many of these drivers would contribute to the Philadelphia area's $103.4 billion retail economy by visiting the convenience stores, coffeehouses, auto repair centers, gas stations, daycares, grocery stores, or hundreds of other businesses they passed.

At lunchtime, these same cars would take their owners to restaurants, dentist appointments, nail appointments, barbershops, and on an infinite number of other errands.

On the weekends, these vehicles filled the parking lots of hardware stores, furniture stores, car dealers, appliance stores, bowling alleys, movie theatres, and nightclubs, 

Then on March 17, when the Governor of Pennsylvania shut down the state to slow the spread of COVID-19, traffic came to a standstill and so did the spending.

There are strong indications, though, that in the Delaware Valley, roads are filling up again.

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Topics Best Way To Advertise, Radio Advertising Works, roi, return on investment, retail, store traffic, consumer spending, small business owner, radio advertising, small business, Retail Sales, retailer, retail stores, in-car audio, vehicle traffic

What Happens When A Philadelphia Small Business Stops Advertising?

May 27, 2020 1:38:02 PM / by Larry Julius

Delaware Valley small business owners may perceive the continuation of advertising as a luxury right now. This is especially so when compared to the necessity for covering the costs of utilities, inventory, payroll, and rent.

Before pulling the plug, though, business owners from Doylestown to Cherry Hill must consider the consequences of 'going dark', a marketing term which means to stop advertising.

"According to our analysis, short-term decisions to go dark create significant risk for long-term revenue," says Ameneh Atai, Senior Vice President of Commercial Strategy at Nielsen. "This affects both incremental revenue and base sales."

"Our database of long-term effects models suggests that cutting ad spending for the rest of 2020 could lead up-to 11% revenue decrease in 2021," says Ms. Atai. "It could take three to five years of solid and consistent brand building to recover from an extended dark period of media."

"We have a ton of evidence in our historical analysis," adds Nielsen's Tsvetan Tsvetkov, Senior Vice President of Agency and Advertiser Solutions. "Companies that step away from advertising efforts for a period of time, whether it's a couple of quarters or a full year or longer lose the momentum they have built over time the minute they stop. To recover takes a long, long time."

To avoid the economic risks of going dark, Delaware Valley small business owners need to make sure every dollar spent on advertising produces solid returns.  By most marketing metrics, advertising on Philadelphia radio could prove to be the best option.

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Topics Best Way To Advertise, roi, return on investment, retail, small business owner, radio advertising, small business, reach, reach and frequency, Retail Sales, retailer, retail stores

Who'll Be Buying When Philadelphia Small Businesses Reopen?

May 19, 2020 7:16:00 AM / by Larry Julius

To slow the spread of COVID-19, the Governor of Pennsylvania shut down all but the most essential businesses in the state on March 17. This public safety measure inflicted a severe disruption to the Philadelphia area's $91.8 billion retail economy.

As local small business owners prepare for reopening, each must concentrate on supercharging their cash flows to compensate for many weeks of consumer abstinence. Turning the lights back on and hanging out a welcome sign might not be enough, though, to bring even the most loyal customers back.

Some customers may not return because of personal safety concerns. Other customers may have discovered alternative sources to purchase goods and services.

But, there is one thing every Delaware Valley small business owner can be assured of. Consumers will not return if they aren't aware that a business has reopened.

Advertising is a potent tactic for any Pennsylvania or New Jersey small business that needs to reintroduce itself to local consumers.

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

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Topics Best Way To Advertise, retail, store traffic, small business owner, radio advertising, small business, Retail Sales, retailer, covid 19, coronavirus, corona, retail stores, crisis marketing, reopen

Does Social Media Work For Philadelphia Retailers?

Mar 13, 2020 4:56:49 PM / by Larry Julius

Philadelphia area retailers spend a considerable amount of time and money marketing their small businesses on social media.  Is this effort paying off?

Each month, according to Nielsen, 2.8 million Delaware Valley adults use Facebook, Instagram, or Twitter. This equates to 66.5% of consumers.  This reach is rather anemic compared to Philadelphia radio and TV, which attracts considerably more users in a single week than these social media platforms do over 30 days.

Among local millennials, the monthly reach of Facebook, Instagram, and Twitter is eclipsed by the weekly reach of Philadelphia radio.

The number of consumers reached by an advertising campaign, according to Nielsen, is the media consideration that has the most significant effect on increasing sales. 

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Topics Best Way To Advertise, retail, social media advertising, small business owner, radio advertising, facebook advertising, small business, reach, retailer, instagram, facebook, twitter, engagement

Small Business Advertising In Philadelphia: Target The Cash

Mar 3, 2020 11:54:12 AM / by Larry Julius

Delaware Valley consumers spent more than $103 billion with retailers last year. The National Retail Federation forecasts 4.1% more will be spent this year.

Who are the shoppers that will be spending all this money?

According to Nielsen, 51.7% of retail dollars are spent by Philadelphia area consumers over the age of 50. This may surprise many small business owners because older consumers comprise only 41% of the area's adult population.

These older consumers account for the majority of spending in almost every retail category. This includes furniture, cars, pet supplies, fast food, and electronics.

To earn a share of these massive dollars spent by these older consumers requires Delaware Valley small business owners to advertise.

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Topics Best Way To Advertise, newspaper advertising, retail, social media advertising, television advertising, store traffic, consumer spending, small business owner, radio advertising, small business, Retail Sales, retailer, baby boomers

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