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Who's Spending Now? SWFL Small Business Owners Ask.

Dec 4, 2020 4:31:49 PM / by Larry Julius

There are 271,800 adults in Southwest Florida 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 Florida 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 Fort Myers radio.

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Topics best way to advertise, small business advertising, radio advertising, fort myers radio, small business owner, swfl small business, southwest florida small business, small business, college graduates, advertise on radio, small business marketing, radio listening, advertising on radio, education

Advertising In Fort Myers: The Value Of Marketing To College Grads

Dec 4, 2019 4:21:53 PM / by Larry Julius

There's a reason many Southwest Florida small business owners target their advertising towards consumers who have completed a four-year college degree. It's because, typically, university graduates earn $29,106 more per year than those with only a high school diploma, according to The Federal Reserve.

There are, according to Nielsen, 357,458   college graduates living in the Fort Myers-Naples area. In total, this population generates $19.9 billion in annual take-home pay.

To tap into a similar pool of spending power, a marketer would need to reach 442,109 consumers who did not go beyond high school. The problem is, there is only about 79% of that number living in Southwest Florida

The number of people reached by a campaign is, generally, what determines the cost of advertising. So, for an SWFL small business owner operating on a tight marketing budget, spending can be kept in check by targeting those consumers with the most money to spend. In this case, college graduates.

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Topics pandora, best way to advertise, radio advertising, small business owner, social media advertising, newspaper advertising, consumer spending, television advertising, small business, spotify, college graduates

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