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Valentine's Spending In Detroit Expected To Grow 8.4% in 2023

Jan 25, 2023 3:58:42 PM / by Larry Julius

Southeast Michigan business owners should brace for a sweet Valentine's Day in 2023.

Based on per capita spending forecasts from the National Retail Federation (NRF), Detroit area consumers are expected to spend $356.7 million on their Valentines this year, 8.4% more than they did in 2022.

Overall, says the NRF, 52% of consumers plan to celebrate Valentine's day this year. On average, each celebrant will spend $192.80 on holiday gifts and outings. This is $17 more than last year.  Here is the most interesting part, though.

"While spending on significant others and family members is in line with last year, many consumers are looking to show appreciation for the other meaningful relationships in their lives," says the NRF. "Of the $17 increase in per-person spending, $14 comes from gifts for pets, friends, and co-workers, along with classmates or teachers."

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Topics radio advertising, reach, reach and frequency, retail, return on investment, ROI, retailer, retail sales, retail store, advertising reach, retail spending, advertising return on investment, valentine's day

Top Priority For Detroit Small Business Owners: Fill Open Jobs

Jan 18, 2023 7:26:06 AM / by Larry Julius

158,401 Southeast Michigan companies fit the description of being a small business, according to the US Census Bureau.  A recent survey by the National Federation of Independent Business Owners found that after inflation, the most critical problem facing these businesses is the inability to recruit and retain quality employees.

Right now, says the Federal Reserve,  unfilled jobs remain near an all-time with 1.7 openings per unemployed person.  As a result, only one person is being hired per every four job openings.  To put this dismal hire-to-opening ratio in perspective, ten years ago, there was one hire per every job opening.

Compounding the recruitment woes of Detroit's small business owners is the very stubborn quit rate.  According to the Federal Reserve, for every ten hires made, seven current employees quit. 

Although the labor crunch affects Detroit business owners of every size, nearly half of all job vacancies are at companies with fewer than 50 employees.

So what is the best way for local small business owners to attract qualified candidates to fill open jobs?  Most metrics indicate that advertising on Detroit radio may be the optimal choice.

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Topics Employment, Help Wanted, passive job seekers, online job sites, Recruitment, working mothers, work from home, blue collar, job boards, white collar, active job seekers, zip recruiter, employment advertising, radio recruitment

TV Advertising In Detroit: Local Stations and Cable Losing Ground

Dec 16, 2022 4:40:59 PM / by Larry Julius

The combined weekly reach of Detroit's broadcast television stations has slipped to 73.2% of all adults, according to Nielsen. These stations include WJBK, WDIV, WXYZ, WWJ, and WTVS.  

The combined Detroit TV audience now falls just ahead of cable programming at 72.7% and streaming platforms at 62.3%. To put this into perspective, none of the three video media is a match for Detroit radio which reaches more than 79.4% of local adults every week.

But although the reach of broadcast TV, cable, and streaming are neck-and-neck, the share of time consumers spend with each of these media is dramatically different.

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Topics television, television advertising, cable TV, OTT, CTV, streaming video, SVOD, AVOD, local television, streaming media, streaming TV

Advertise In Detroit: Top 5 Articles Of 2022

Dec 12, 2022 5:10:52 PM / by Larry Julius

For Southeast Michigan area consumers, the past twelve months have been, to say the least, frenzied.  The year has been plagued with inflation, recession fears, coronavirus, mid-term elections, and geo-political drama. It seems, however, that these coinciding crises have not tempered consumer spending as local shoppers are on track to spend a record $68.8 billion at retail. 
 
What has changed during 2022, however, is how adults in the Detroit area consume media and how local business owners are marketing their goods and services to these shoppers.
 
To research the changing consumer and media landscape in Detroit, many local business owners have found the articles posted at www.AdvertiseInDetroit.com helpful.  Below are the five most-read articles from that site during 2022:
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Topics radio advertising, digital advertising, online advertising, advertising options, radio advetising, advertise in Detroit, internet, internet advertising, how to advertise, advertising in Detroit, 2022

Surprise? Detroit Radio Is Still #1 Way To Reach Local Consumers

Nov 30, 2022 2:41:41 PM / by Larry Julius

Detroit area business owners have an abundance of options for marketing their goods and services to local consumers. New research from Nielsen, however, indicates that advertising on Detroit radio is still the best way to reach local shoppers.

Every week, according to Nielsen, Detroit radio reaches 2.8 million adults. This is significantly more than are reached by social media, local TV stations and cable systems, newspapers, streaming video and audio, and podcasts.

In addition to listening to their favorite Detroit radio stations over the air, Nielsen reports that 701,141 adults also listen to local stations online every month.

As a matter of fact, according to a study conducted by Edison Research during the third quarter of 2022, among Adults 25-54, 17% of all time spent listening to local AM/FM stations occurs online. This share of online listening has nearly doubled since 2016.

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Topics reach, reach and frequency, ROI, advertising reach, detroit radio, advertise on detroit radio, advertising on radio, advertising roi

Holiday Spending In Detroit Will Top $13.0 Billion In 2022

Nov 10, 2022 2:57:10 PM / by Larry Julius

Economic concerns among Southeast Michigan area consumers are not expected to subdue holiday shopping in in 2022.  Based on forecasts from The National Retail Federation, local shoppers are projected to spend at least $13.0 billion this year. This would be 6% more than was spent in 2021.

“While consumers are feeling the pressure of inflation and higher prices, and while there is continued stratification with consumer spending and behavior among households at different income levels, consumers remain resilient and continue to engage in commerce,” NRF President and CEO Matthew Shay said. “In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season.”

The biggest challenge facing Detroit business owners is keeping holiday spending local. NRF expects 10-12% of purchases to happen online from retailers like Amazon and Walmart.

To lay claim to this expanding pool of holiday spending,  and keep business local, small business owners will need advertising. By, most marketing metrics, the best way to advertise is on Detroit radio.

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Topics radio advertising, consumer spending, return on investment, ROI, radio advetising, advertise on radio, advertising reach, detroit radio, holiday advertising, christmas, holiday shopping, advertising return on investment, advertising roi

Advertising In Detroit: Is Online Marketing Enough?

Oct 20, 2022 10:32:28 AM / by Larry Julius

According to Nielsen, 3.3 million adults in Southeast Michigan have access to the internet. Eighty-five percent of these consumers conduct online research before making a retail purchase, says a report from GE Capital Bank. 

To reach Detroit area adults in the market to buy their goods and services, businesses spent $2.6 billion in 2021 on digital adverting, according to projections based on the 2021 IAB Internal Advertising Report.  This is 35% more than was spent during the prior year.

This mammoth pool of online advertising dollars targeted at Detroit consumers is being spent on a variety of digital resources including search engine marketing (SEM), search engine optimization (SEO), display ads, video ads, audio ads, email, and social media. Each of these tools can precisely target consumers who are currently in the market to buy whatever it is a business is selling.

Most forms of online advertising are designed to compel Detroit consumers to click on a digital ad that will transport them to the website of a company that sells whatever it is consumers are in the market to buy.  Is investing only in digital advertising enough to drive sales for a local business? 

Many marketing experts believe that online advertising needs to be part of a broader marketing strategy to be successful.

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Topics radio advertising, digital advertising, online advertising, detroit radio, internet, internet advertising

Digital Advertising In Detroit: How To Get Found Online

Sep 30, 2022 10:41:22 AM / by Larry Julius

Last year, $2.6 billion in marketing was spent online to reach Southeast Michigan consumers, according to projections based on the 2021 IAB Internal Advertising Report.  This is 35% more than was spent during the prior year.

There is a correlation between the massive amount of money being spent to reach Detroit consumers online and the extraordinary amount of time that these consumers are connecting to the internet via websites and apps.

According to Nielsen, 47.2% of Detroit adults are spending 10-plus hours during an average week online. Furthermore, The Pew Research Center, a public opinion research company, reports that one-in-three consumers say they are online constantly. A 50% increase from 2015.  In all, 85% of consumers say they connect at least once daily.

To successfully market and advertise a Detroit business on the internet requires a full-scale understanding of precisely what online marketing is.  Spoiler alert, having a website or having a social media site is not enough.

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Topics social media advertising, digital advertising, online advertising, web traffic, website visitor, social media, online shopping, google, internet, internet advertising, sem

Best Way To Advertise In Detroit: AM/FM Radio Still Rules

Aug 30, 2022 1:44:27 PM / by Larry Julius

Southeast Michigan small business owners have an abundance of options for advertising their goods and services. Choices include local TV, local cable, social media, streaming video, streaming audio, podcasts, and newspapers.

The best way to advertise in Detroit, however, is local radio.

Every week, according to Neilsen, 2.8 million adults tune-in to their favorite Detroit radio stations. This is significantly more than any other advertising medium.

In addition to the adults who listen to Detroit radio over-the-air, an incremental 173,228 adults connect to their favorite stations online as well using their phones, computers, and tablets. In all, according to Nielsen, 23.3% of all Detroit radio listeners listen both online and offline.

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Topics small business, small business owner, radio advertising, best way to advertise, return on investment, ROI, small business marketing, small business advertising, advertising return on investment, advertising roi

Political Advertising In Detroit: Campaigns Go Over The Top

Aug 22, 2022 7:05:00 AM / by Larry Julius

According to Nielsen research, 2.7 million people in the Southeast Michigan area will likely participate in the upcoming election on November 8th. To sway these voters, candidates and political action committees are expected to spend a record amount on advertising.

AdImpact, a company that measures advertising expenditures by political campaigns, says more than $3.6 billion have been spent to reach voters so far in 2022. This puts spending on a course to obliterate the record level of campaign dollars set during the 2020 presidential elections.

Despite crumbling ratings, through August 1st, 58% of all political spending has been dished out to local TV stations, according to AdImpact.

Nielsen reports that since 2017, the reach of broadcast TV stations like WJBK, WDIV, WXYZ, WWJ, and WTVS has decayed by 10%.

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Topics television, television advertising, digital advertising, online advertising, political, political advertising, political campaigns, political advertising rates, political rates, OTT, CTV, streaming video, SVOD, AVOD, local television, internet advertising, streaming media, streaming TV

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