There are 230,328 small businesses in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area, according to the U.S. Census Bureau. Almost every one of these businesses is competing for a portion of the $108 billion of local retail spending expected to occur in 2023.*

To capture the largest share of this giant pool of consumer cash, Philadelphia small business owners will need to consider advertising.

"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. Advertising, if done correctly, can do wonders for your sales., and you know what that means: more revenue and more success for your company."

One of the best ways to advertise in Philadelphia may be on local radio, a fact not lost on the world's largest advertiser, Proctor & Gamble. Last year, P&G upped spending on the radio by 43% to $235 million, according to Vivvix (formerly Kantar Media), led by a big jump in local radio.

To ensure success, every Delaware Valley business owner needs 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.”

The SBA goes on to say, “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.”

There are dozens of ways for local small business owners to advertise. By most metrics, the best way to advertise is on Philadelphia radio. These measures of effectiveness, however, are often obscured by the glimmer and glitz of newer technologies. 

To help reduce the glare that often blinds business owners to the potency of advertising on Philadelphia radio, here are the top five things many local business owners get wrong.

Advertising is crucial to the success of Delaware Valley business owners. According to Investopedia, "lack of adequate marketing and publicity are among the issues that drag down small business".

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.

The majority of these dollars are being spent by Philadelphia business owners to capture a significant share of the $72.1 billion dollars local consumers will be spending this year. These estimates are based on a revised forecast from the National Retail Federation (NRF).

Of course, there is an over-abundance of ways a local business owner can advertise. Perhaps the best way to generate sales from local consumers is with Philadelphia radio. Here are the top five reasons why...

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.

There are 38 radio stations serving listeners in the Delaware Valley. Each provides a unique format of news, sports, music, entertainment, and inspiration. Some stations broadcast in English. Others serve Spanish speakers. Some stations cater to millennials. Others appeal to Baby Boomers.  No doubt, there is a local radio station that fulfills the preferences of every listener.

Each week, according to Nielsen, 3.6 million adults tune-in to their favorite Philadelphia radio stations. This is more people than watch local TV, cable, or streaming channels. This is more than use Facebook and Instagram. This is more than read newspapers or connect to Pandora and Spotify. 

Despite the abundance of Philadelphia radio stations to choose between, Nielsen reports that, on average, adult consumers only listen to 2.8 each week.  So, which stations do local consumers choose?

There are 1.5 million adults in the Delaware Valley who have earned a four-year college or postgraduate degree, according to research from Nielsen. A study from the Federal Reserve indicates that these educated consumers have been least affected by the economic consequences of the pandemic.

"While the labor market disruptions have affected workers in a wide set of industries and occupations, those without a college degree have experienced the most severe impact," say Mary C. Daly, Shelby R. Buckman, and Lily M. Seitelman authors of The Unequal Impact of COVID-19 in the Economic Letter published by the Federal Reserve of San Francisco.

Although the unemployment rate increased among consumers of every education level in late March when the Governor of Pennsylvania lockdown the state to slow the spread of the Coronavirus, the smallest increase was among those with bachelor or postgraduate degrees, according to the Bureau of Labor Statistics.

Seven months later, job recovery among those with college degrees is closer to pre-pandemic levels than consumers with lower levels of educational attainment.

Many small business owners have seen the correlation between advertising and survival during the economic crisis inflicted by the pandemic.  With precious few dollars to invest, it is crucial that every advertisement reaches consumers who have disposable income to buy. Right now, the most likely spenders are customers with college degrees.

By key advertising metrics, the best way to reach consumers with higher education is on Philadelphia radio.

Philadelphia radio reaches more Delaware Valley adults every week than any other medium. During a typical seven-day period, according to Nielsen, 3.5 million local consumers tune-in to their favorite AM and FM stations. This is significantly more than those who watch broadcast television, subscribe to pay-TV, browse social media, read a newspaper, or stream music from Pandora and Spotify.

Radio's omnipresence in the life of Philadelphia consumers is remarkable considering today is the medium's 100th birthday.