There is alarming news for New England small business owners who advertise on Boston television stations: broadcast TV viewers are disappearing at a rapid pace.

Nielsen reports that halfway through the first quarter of this year, the number of people using television has dropped 7.5%. This compares to -6.3% in the fourth quarter of 2019, and -7.0% a year ago,

"If the trend holds, it would represent the largest quarterly decline for TV viewership in our data set," explains UBS analyst John C. Hodulikadding. "Trends have worsened across most age demos with persons 25-34 now falling -17% vs. low double-digit declines throughout 2019. The persons 55+ demo continues to trend down -2%, similar to 2019 (the first year of declining ratings for the demo)."

Radio listenership, on the other hand, has remained quite stable, according to Nielsen. Since 1970, the medium has reached more than 9-in-10 consumers every week.

How quickly the millennials have grown up.

According to Nielsen, 50% of all Boston area 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 910,018 children under the age of 18 living in the Boston area. That makes the local millennial-parenting economy worth upwards of $212 billion. These dollars are being spent, among other things, on diapers, daycare, transportation, toys, education, electronics, clothing, and health care.

For New England 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 Boston radio is the best way to reach this audience.

March is the biggest single month for used car sales in the Boston area. During these 31 days alone, local pre-owned vehicle dealers are expected to bring in $189 million in sales. This will represent 10% of their annual revenue.

By the end of May, these dealers owners will sell more than $525 million worth of pre-owned cars and trucks. This, undoubtedly, makes March-May 'used car season' in New England

Although most Boston area used car dealers are small business owners, they do really big business. In all, over the next 12 months, more than 650,000 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 Boston radio.

Boston area consumers are expected to spend $100.9 billion at retail this year, according to Nielsen. This means that every household, on average, will be dishing out over $51,000.

To capture a larger share of these dollars, New England small business owners need to know the answer to two questions.

The first question is, where is this enormous amount of cash being spent?  The list below details the answer.

As Valentine's Day sales begin to dwindle, that's when New England 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, Boston area consumers spent more than $396-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 Boston radio is the best choice.

Over 950,000 consumers in the Boston area now own a smart speaker. Ownership of these devices, including Amazon Echo and Google Home, has grown five-fold since the beginning of 2017.

According to Adobe Analytics, significantly  more consumers are asking Siri and Alexa to play music than any other activity.

Many New England small business owners depend on local radio to advertise their goods and service. So, how does the use of smart speakers as an audio device affect their radio advertising's ability to reach local consumers? The answer is: none at all.

If you were one of the 3,543,709 consumers who tuned-in to a Boston radio station last week, then chances are you heard at least one commercial from GEICO, Progressive, or Liberty Mutual. That's because insurance is big business in New England.

Each year, Boston area consumers spend $6.9-billion to insure their homes and cars. That's almost $1500 for every area adult.

There is good news and bad news for the 8800 local insurance agents who are competing to earn a substantial share of the home and auto premiums consumers are paying.

According to Nielsen, 236,000 policyholders in the Boston area are planning to switch insurance providers during the next 12 months.

There are many ways for New England small business owners to advertise. Options include newspapers, magazines, television, social media, and streaming media.

But to achieve the “3-Rs” of advertising success, Reach, Recall, and Return, no other medium delivers results as effectively and efficiently as advertising on Boston radio.

"Advertising on Boston radio really helped to push our company into profitability for the first time. It was the tipping point for us," says Chad Langley, CEO of Teststripz. 

Teststripz was founded in 2011 by Chad. The company operates an online marketplace where people who suffer from diabetes can purchase low-cost supplies from others who have an oversupply. This includes test strips and meters.

"If we hadn't started advertising on the radio when we did," adds Chad's brother Chris the company's CTO, "we would probably be out of business right now.

So, how can a New England small business owner choose the best Boston radio stations to advertise on?

Consumers in the Boston area spent a record $6.1 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 New England small businesses that sell home improvement products and services would like to continue to grow despite the softening market, then advertising will be required.

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

In 2019, local consumers in the Boston area spent $2.1 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 New England 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.