How quickly the millennials have grown up.

According to Nielsen, half of all Delaware Valley parents with children under the age of 18 are millennials.  

From the time their kids are born until they reach they are 17, these young parents will  spend, on average, $233,000 per child. This does not include the cost of college.

Currently, there are 1,162,996 children under the age of 18 living in the Philadelphia area. That makes the local parenting economy worth upwards of $270 billion. These dollars are being spent, among other things, on diapers, daycare, transportation, toys, education, electronics, clothing, and health care.

For Delaware Valley small business owners interested in competing for a substantial portion of this multi-billion dollar pool of parental cash, they must advertise to millennial moms and dads. By almost any measurement, advertising on Philadelphia radio is the best way to reach this audience.

March is the biggest single month for used car sales in the Delaware Valley. During these 31 days alone, local pre-owned vehicle dealers are expected to bring in $198 million in sales. This will represent 10% of their annual revenue.

By the end of May, these dealers owners will sell more than $550 million worth of pre-owned cars and trucks. This, undoubtedly, makes March-May 'used car season' in the Philadelphia area.

Although most Delaware Valley used car dealers are small business owners, they do really big business. In all, over the next 12 months, more than 680,000 pre-owned vehicles will be driven off their lots.

To capture a larger share of the area's $1.9 billion used car market requires pre-owned vehicle dealers to advertise. By any measure, the best way for these business owners to advertise is on Philadelphia radio.

Delaware Valley small business owners have been advertising on Philadelphia radio since the first local stations, went on air in 1922.  By almost every metric, the medium remains the best way to successfully market goods and services to local consumers.

Before local businesses execute their marketing plans for this year, here are five facts they should know about radio advertising.

As Valentine's Day sales begin to dwindle, that's when Delaware Valley small business owners start thinking about Mom.

Mother's Day, which happens on the second Sunday of May, is second only to Christmas in terms of holiday spending. Last year, Philadelphia area consumers spent more than $416-million celebrating the women in their lives. That number is expected to grow again in 2020.

To claim a significant share of this Mother's Day cash, local retailers and restaurants will need to advertise.  By almost every key metric, advertising on Philadelphia radio is the best choice.

Low unemployment, a boom in housing starts, and confident consumers are propelling robust sales for Delaware Valley furniture stores.

In 2019, local consumers in the Philadelphia area spent $2.2 billion on furniture and home furnishing. This number is expected to grow.

Based on estimates developed by Furniture Today’s Strategic Insights team and Easy Analytic Software Inc. (EASI), the total furniture and bedding market is projected to expand by more than 22% by 2024.

If a Delaware Valley small business owner who sells furniture, furnishings, or home decor would like to grab a larger share of this expanding market, then advertising is necessary.  By almost every key metric, advertising on local radio is a sound marketing investment.

Philadelphia area consumers cannot get enough pizza.

In 2012, there were just about 1,750 local pizza restaurants. Today, however, that number has grown to 1,900. In 2019, these establishments racked up $890,000,000 in total sales.

Fifty-nine percent of pizza sales in the Philadelphia area are rung-up by one of the top-50 chains like Domino's or Pizza Hut. The remaining 41% of revenue is controlled by independent, small business owners.

To compete for a larger share of the pizza pie in the Delaware Valley  requires local restaurant owners to bring in new customers. A proven way to accomplish this is with advertising.

The US Small Business Administration recommends that every local  small business advertise consistently.  

Consumers in the Delaware Valley spent a record $6.5 billion on home improvements in 2019. This level of spending is projected to drop modestly next year, according to Harvard University’s Joint Center for Housing Studies.

“Declining home sales and home-building activity coupled with slower gains in permitting for improvement projects will put the brakes on remodeling growth,” says Chris Herbert, the center’s managing director.

“However, if falling mortgage interest rates continue to incentivize home sales, refinancing, and ultimately remodeling activity, the slowdown may soften some.”

If Philadelphia area small businesses that sell home improvement products and services would like to continue to grow despite the softening market, then advertising will be required.

Advertising is critical to the success of every Delaware Valley 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 Philadelphia 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.

Delaware Valley small business owners need employees...desperately.

According to a report from the National Federation of Independent Business, 26% of small business owners say finding qualified workers is their number one problem. 

The report goes on to say that 88% of small business owners looking to hire new employees are finding there are no qualified candidates.

The historically low unemployment figures in the Philadelphia area appears to be the root cause of local hiring woes. The metro area's jobless rate stands at 3.4%. There are just not enough qualified workers to go around.

Most small business owners have exhausted the traditional methods of recruitment. These include online job board posts, newspaper ads, referral bonuses, and help wanted signs. All to no avail.

To successfully attract the qualified applicants they yearn for, local small business owners need to command the attention of 'passive' job seekers. The number one source for these candidates is Philadelphia radio.

For Delaware Valley small business owners who depend on Valentine's Day to spike first-quarter sales, this year could prove to be a battle as the decline in celebrants is expected to continue.

Based on estimates from the National Retail Federation, 2,5 million Philadelphia area consumers will be participating in the holiday this year. This is 20% fewer than ten years ago.

There is good news, however, for local business owners. Although there are will be fewer customers, local Valentine's Day spending is expected to grow to $413-million. This is 28% higher than a decade ago.

So, how does a Delaware Valley retailer or restaurant win the battle for the hearts and wallets of romantic consumers?  Advertising is a necessary weapon to win this war.

No weapon is as potent as advertising on Philadelphia radio.