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Facebook Advertising: Why SWFL Small Business Owners May Be Pausing

Jul 3, 2020 9:33:08 AM / by Larry Julius

Following the lead of many national marketers, some Fort Myers-Naples area small business owners are considering canceling or, at minimum, pausing their advertising schedules with social media network Facebook and its co-owned photo-sharing platform, Instagram.

According to the New York Times, "more than 400 companies, from Coca-Cola and Adidas to Ford and Lego, have vowed to halt advertising on the social network, in a growing protest over how it handles hate speech and other harmful content".

With the pandemic figured in, Southwest Florida small business owners were expected to spend $48 million on Facebook and Instagram advertising in 2020. This is according to Borrell Associates, a firm that specializes in the collection and analysis of local marketing expenditures in every city across the United States. But these expenditures could shrink if the protests become louder.

Every type of SWFL business imaginable, including clothing stores, plumbers, HVAC repair, funeral homes, restaurants, dentists, and nonprofits, has come to realize how powerfully social media can contribute to their bottom lines.

Part of what makes Facebook and Instagram attractive to small business owners is the enormous reach these platforms have among consumers. Locally, the audience size for these two social media sites now rival Fort Myers radio, TV, cable, and newspaper outlets.

For small business owners considering a hiatus from social media advertising, there is a viable way to redirect these dollars into a different medium without losing the marketing equity or momentum built-up on Facebook.

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Topics best way to advertise, radio advertising, small business owner, social media advertising, facebook, instagram, small business, facebook advertising, social media, advertise on radio

Why Southwest Florida Banks & Credit Unions Need To Advertise Now

Jun 30, 2020 8:31:53 AM / by Larry Julius

Based on statistics from the Bureau of Labor Statistics, before the COVID-19 crisis, Southwest Florida households were putting more than $2.9 billion in the bank every year. 

Since February, however, Fort Myers-Naples area banks and credit unions noticed that customers' savings accounts were beginning to swell to record levels.

According to the Federal Reserve, for many years, the personal savings rate has hovered well below 10%.  The PSR is the percentage of personal disposable income that remains after taxes and all other spending.

In April of this year, the PSR hit an all-time high of 33%. The rate remained at stratospheric levels in May, as well. The previous record high was 17.3% in September of 1975 at the tail-end of a deep recession.

There are more than 4547 banks and credit unions in Florida that would love to earn a large share of this infusion of new savings. To compete, though, requires advertising.  By almost any metric, the best way to reach new depositors is by advertising on Fort Myers radio.

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Topics best way to advertise, radio advertising, small business owner, small business, bank, advertise on radio, savings accounts, certificate of deposit, credit unions

Real Estate Advertising in SWFL: Starter Home Sales Are Thriving

Jun 26, 2020 8:39:40 AM / by Larry Julius

From Marco Island to Punta Gorda (and every point in between), Southwest Florida real estate agents see a robust, post-pandemic market shaping up. Home sales are being driven by record low-interest rates.

The average rate for a 30-year fixed rate in June is 3.17%, according to Freddie Mac. This is down from 3.99% June of last year. That difference could save a Fort Myers-Naples area home buyer close to $30,000 over the term of a loan.

Data from the Federal Reserve indicates that one of the fast-growing segments of the current real estate market is starter homes. Sales in May for these modest price houses have risen above pre-COVID-19 levels and have hit a three year high.

Feuling the starter home market is demand from millennials. This generation now comprises 37% of all home buyers, says the National Association of Realtors Research Group.

To claim a large share of the market for starter homes, local real estate agents will need to advertise to attract these buyers.  By almost any metric, advertising on Fort Myers radio is the best way to reach millennials planning to buy a house, condo, or co-op over the next year.

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Topics best way to advertise, radio advertising, small business owner, small business, home buyers, real estate, mortgage, mortgage brokers, home sellers, real estate agent, advertise on radio

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