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Philadelphia Small Business Update: Auto Parts Sales Accelerate

Sep 18, 2020 2:16:44 PM / by Larry Julius

There are more than 3,500,000 vehicles registered in the Delaware Valley. Many need new windshield wipers, shocks, struts, brakes, air filters, ignition coils, and the hundreds of other items that fill the shelves of local auto part dealers.

Despite the pandemic induced slowdown, business at auto parts stores has grown nearly 13% since February, according to the US Census Bureau.

This explosive growth in auto parts sales directly relates to the  average age of cars on Philadelphia area roads.

"Per the latest study from IHS Markit, the current combined average age of vehicles has hit a record of 11.9 years," Rimmi Singhi wrote this week on NASDAQ.com. "The aging vehicles are a boon to auto parts, replacement, and repair companies. In a bid to ensure long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components."

Also contributing to the rapid aging of cars on the road is the current demand for used versus new vehicles. According to the Bureau of Economic Analysis, the personal consumption expenditures (PCE) for used cars is 25% higher in August than it was during the same month last year.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, advertising on Philadelphia radio, retail, small business owner, radio advertising, small business, automotive, used trucks, used cars, Retail Sales, retailer, retail stores, small business marketing, used vehicles, auto parts

Advertising In Philadelphia: OTT & CTV Viewing Soars

Sep 4, 2020 3:37:17 PM / by Larry Julius

Advertising on Philadelphia television and cable is becoming less attractive to local business owners as viewers rapidly defect to alternative video entertainment sources including, Netflix, YouTube, Hulu, Amazon and Disney+.

Collectively these streaming services are referred to as Over-The-Top Television (OTT) and Connected-TV (CTV). Viewers can only access this OTT and CTV content via smartphone, tablets, computers, smart-TVs, Amazon Fire Sticks, and Roku Sticks, Nielsen reports that 92.1% of Delaware Valley adults own at least one these devices. Furthermore, they are using them.

According to Nielsen, OTT and CTV networks now reach 42.8% of all Philadelphia area consumers every week.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Advertise On Philadelphia Radio Stations, television advertising, best time to advertise, small business owner, radio advertising, small business, philadelphia television, pay-TV, cable television, television, advertise on radio, small business marketing, satellite television, cable tv, ott, ctv, streaming video

B2B Advertising In Philadelphia: Reaching The Decision Makers

Aug 27, 2020 7:21:22 AM / by Larry Julius

New data from the US Census Bureau has optimistic news for Philadelphia area companies that sell business-to-business.

There are approximately 108,000 businesses in the Delaware Valley, according to the Census Bureau. Indeed, many of these businesses have suffered since the onset of the Coronavirus, especially in April.

Census information is now showing positive indicators that the fortunes of area companies are improving. This includes those with 500 or fewer employees. These small businesses account for 94% of all Philadelphia area firms.

During the week of April 26, 52% of Philadelphia area small businesses reported temporary closures.  By July 1, the number dropped to 21%

Also, during that same week, 73% of Philadelphia area small business owners were reporting decreases in revenue versus the prior week.  By August 22, that number fell by more than half.

In both June and July of this year, national data shows all retail and food services spending significantly outperformed the prior year by between two and three percent.

As the business climate improves in the Delaware Valley, the fortunes of B2B companies will accelerate as well. These include those businesses that sell office supplies, restaurant supplies, cleaning services, legal services, accounting services, transportation services, banking services, technology, and commercial real estate.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, Advertise On Philadelphia Radio Stations, roi, return on investment, small business owner, small business, business-to-business, b2b, philadelphia radio, small business marketing

What Is The Best Way To Reach Philadelphia's 4.2 Million Consumers?

Aug 17, 2020 11:36:33 AM / by Larry Julius

Despite all of the media options available for small business owners to market their goods and services, advertising on Philadelphia radio is still the best way to reach local consumers.

Adult consumers are spending 741 minutes per day consuming electronic media, according to a new study by Nielsen.  This is 7.8% more time than they spent last year and 11.2% more than in 2018.

The typical daily media diet consists of radio, live TV, time-shifted TV, DVD/Blue-ray devices, game consoles, internet-connected devices, as well as internet via computers, smartphone apps, and tablet apps.

According to Nielsen, despite all of these media options, local radio reaches the most consumers every week.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, Advertise On Philadelphia Radio Stations, Effective Advertising., roi, return on investment, retail, small business owner, radio advertising, small business, reach, reach and frequency, Retail Sales, retailer, retail stores, advertise on radio, small business marketing

What Philadelphia Consumers Need To Know Now About Your Small Business

Aug 12, 2020 8:05:50 AM / by Larry Julius

There is good news for Delaware Valley retailers and restaurants.

As a result of the pandemic, one-third of consumers indicate they will pay a premium for local brands and products, according to a recent study by Ernst & Young

However, before consumers will buy from a local business in King of Prussia, Cherry Hill, Jenkintown, or any town in-between, they must know they can do so without risking their health.

Advertising is the only practical way to let Philadelphia area shoppers and diners know about the precautions and practices your small business has taken to reduce potential health threats.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Effective Radio Commercials, retail, best time to advertise, small business owner, small business, Retail Sales, retailer, covid 19, coronavirus, corona, retail stores, recovery, small business marketing

Advertise In Philadelphia: Radio Listening Little Change vs. Last Year

Aug 10, 2020 7:01:00 AM / by Larry Julius

During July, 3.4 million adult listeners spent 2 hours per day listening to their favorite Philadelphia radio stations, according to Nielsen. Despite an avalanche of pandemic induced disruptions, the daily time spent with radio is down by only by one-quarter-hour from a year ago.

Some advertising experts had predicted that as consumers spent more time at home because of COVID-19 concerns, the hours devoted to radio listening would dramatically decrease. That, however, was not the case.

In July of 2019, according to Nielsen, 30.7% of radio listening in the Delaware Valley occurred at home. During July of this year, in-home listening jumped to 41.5%. Despite the reduction in out-of-home activities, though, consumers still spent nearly the same amount of time listening to Philadelphia radio.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, Pandora, Spotify, best time to advertise, small business owner, small business, covid 19, coronavirus, corona, small business marketing, sirius/xm, pandemic

Advertising On Philadelphia Radio Reaches Cable-TV's Cord Cutters

Jul 30, 2020 3:35:45 PM / by Larry Julius

More than one-third of Delaware Valeey households are 'cord-cutters' or 'cord-nevers'. This means, they have fired their cable or satellite television providers or never subscribed at all. Instead, these consumers are choosing to find their video entertainment elsewhere.

The number of local homes that subscribe to pay-TV services began plummeting in 2013. New technologies has allowed viewers to bypass cable and satellite for more compelling content at lower prices. These cord-cutters now depend on services like Netflix, Hulu, Disney+, and Amazon Prime to fill their multiple screens.

For many years, Philadelphia small business owners have been investing a significant portion of their advertising budgets into cable-TV.  The medium had proven to be a low-cost, high-reach alternative to buying commercial on over-the-air television stations. 

Now, because of cord-cutting, there are 1.4 million adult consumers with unconnected TVs. This profoundly diminishes the value proposition of advertising with local cable systems.

There is a powerful and affordable solution, however, for small business owners to reach both the diminishing cable audience and the expanding number of cord-cutters.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, television advertising, small business owner, radio advertising, small business, philadelphia television, pay-TV, cable television, television, advertise on radio, small business marketing, cord-cutter, satellite television, cord-never

Philadelphia Retailers Prepare For $564 Million Back-To-School Season

Jul 23, 2020 7:33:44 AM / by Larry Julius

Based on projections from the National Retail Federation, Delaware Valley parents are expected to spend $564 million to equip K-12 kids for the upcoming school year. If so, then this shopping spree will be 29% bigger than last year's and the biggest take since 2012.

“By any measure, this is an unprecedented year with great uncertainty, including how students will get their education this fall whether they are in kindergarten or college,” NRF President and CEO Matthew Shay says.

“Most parents don’t know whether their children will be sitting in a classroom or in front of a computer in the dining room, or a combination of the two. But they do know the value of an education and are navigating uncertainty and unknowns so that students are prepared."

Along with pencils, paper, pens, and knapsacks, the NRF survey says 63 percent of K-12 families expect to buy computers and other electronics this year, up from 54% last year, and they expect to spend more at an average $274.44, up from $203.44 last year. The $71 difference accounts for the largest share of the overall increase in average spending of almost $93.

Also, because many parents are unsure if learning will take place at school or at home, back-to-school spending this year is expected to include home furnishings such as desks, chairs, and lamps.

To claim a meaningful share of this year's booming back-to-school economy, local retailers will need to advertise to let parents know that their stores are open, it is safe to shop, and the needed supplies are in stock.

By any metric, the best way to reach these parents is on Philadelphia radio.

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Topics Philadelphia Small Business Owner, Small Business Advertising, Millennials, retail, small business owner, radio advertising, small business, Retail Sales, retailer, retail stores, advertise on radio, small business marketing, back-to-school, millennial parents

Drivers Hit The Road Taking Philadelphia Radio Along For The Ride

Jul 21, 2020 10:32:54 AM / by Larry Julius

Car radios came to Philadelphia in June of 1930. For just $120, about $1200 in present dollars, local drivers could install these early mobile devices into their Fords, Studebakers, Packards, and DeSotos, 

The first car radios were built by the Galvin Manufacturing Company of Chicago. They named their invention, and eventually their company, Motorola.

Today, more than 3.5 million car radios fill ears of Delaware Valley drivers with music, news, sports, and information. As a result, local radio reaches more consumers than all other media.

In a typical pre-COVID-19 week, according to Nielsen, 90% of adult consumers would tune-in to a Philadelphia radio station. This is significantly more than were reached by local TV, cable, social media, newspaper, or streaming media sites Pandora and Spotify.

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Topics Small Business Advertising, Best Way To Advertise, best time to advertise, small business owner, small business, in-car audio, vehicle traffic, small business marketing

Advertising On Philadelphia Radio: What Consumers Want To Hear

Jul 16, 2020 2:42:34 PM / by Larry Julius

If you were one of the 3.8 million adults who tuned-in to a Philadelphia radio station last week, then no doubt you heard multiple commercials that included phrases like 'troubling times', 'uncertain times', 'unprecedented times', 'new normal', and 'we're in this together'. 

In March, as the pandemic began to disrupt consumers' lives, using these phrases was a powerful way for Delaware Valley small business owners to acknowledge the severity of the crisis and to exhibit empathy. But 120 days later, these words have become cliche and have lost potency.

A cliche, says the Oxford Dictionary, is "a phrase or opinion that is overused and betrays a lack of original thought." 

According to the Writing Center at The University of North Carolina, the dependence on cliches could create a harmful perception of a business that uses them. For instance, these overused phrases can make an advertiser's message seem boring. They can be perceived as vague. They can be interpreted to be a sign of laziness. They can also result in a lack of credibility. 

The words a Philadelphia area small business chooses for its advertising will have the most significant effect on sales. That's why eliminating cliches is critical.

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Topics Delaware Valley Small Business Owner, Small Business Advertising, Effective Radio Commercials, commercial length, small business owner, radio advertising, small business, advertise on radio, small business marketing, creative, scripts

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