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Banks and Credit Unions Reach ReFi Customers On Boston Radio

Sep 11, 2020 11:44:05 AM / by Larry Julius

There are approximately 635,000 households in the Boston area with existing mortgages, according to the US Census Bureau, American Housing Survey. The median amount owed on these homes is $232,000.

Yesterday, there was extraordinary news for many of these borrowers and for Boston area banks, credit unions, and mortgage companies

According to The Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage rates have hit an all-time low of 2.86%.

 
With interest rates at this new level, 20 million American homeowners can now refinance their existing mortgage, according to Black Knight, a data analytics company specializing in homeownership life cycles. 
 
By refinancing an existing mortgage, a Boston area homeowner could considerably reduce the length of their loan or lower the amount 
of their monthly payments.
 
Local banks, credit unions, and mortgage companies create a great deal of revenue from refinancing. 
 
Generally, a lender can expect to earn two to five percent of the loan principal amount in closing costs, according to BankRate.com. For a $200,000 mortgage refinance, for example, closing costs could generate between $4000 and $10,000.
 
For local financial companies to claim a significant share of the expanding refi market requires advertising. By any metric, advertising on Boston radio is the most effective way to reach homeowners.
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Topics best way to advertise, radio advertising, bank, credit union, advertise on radio, mortgage, mortgage rates, home owners, advertise on boston radio, mortgage company

Now Open: Political Advertising Window on Boston Radio

Sep 8, 2020 10:11:55 AM / by Larry Julius

On September 4, the political advertising window opened on Boston television and radio stations.  This is a 60 day period leading up to a general election when broadcast stations licensed by the Federal Communication Commission are obligated to offer candidates for national office the opportunity to buy commercials at the lowest unit rate (LUR).

For example, if a high-frequency advertiser like McDonald's earns the lowest rates on a particular Boston radio station during morning drive-time, then any candidate for federal office must, during the 60-day political window, be offered the same rate for morning drive time on that station, regardless of frequency.

If, however, the McDonald's rate is contingent on the radio station's ability to pre-empt commercials without notice, then qualified candidates must agree to identical terms to receive the same rate.

To facilitate the purchase of commercials on Boston radio, stations will supply candidates with a political rate-card.  This card will show the LUR by time of day and by preemption parameters.

Here are other important facts about political advertising on Boston radio.

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Topics radio advertising, political advertising, issue advertising, political rates, advertising on radio, lowest unit rate, LUR

Advertising In Boston: OTT & CTV Viewing Soars

Sep 4, 2020 1:40:25 PM / by Larry Julius

Advertising on Boston television and cable is becoming less attractive to local business owners as viewers rapidly defect to alternative video entertainment sources including, Netflix, YouTube, Hulu, Amazon and Disney+.

Collectively these streaming services are referred to as Over-The-Top Television (OTT) and Connected-TV (CTV). Viewers can only access this OTT and CTV content via smartphone, tablets, computers, smart-TVs, Amazon Fire Sticks, and Roku Sticks, Nielsen reports that 94.3% of Boston adults own at least one these devices. Furthermore, they are using them.

According to Nielsen, OTT and CTV networks now reach 43.4% of all Boston consumers every week.

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Topics best way to advertise, small business owner, small business marketing, television advertising, small business, advertise on radio, small business advertising, television, PAY-TV, Cable TV, advertise on boston radio, ott, ctv, streaming video

B2B Advertising In Boston: Reaching The Decision Makers

Aug 27, 2020 7:09:00 AM / by Larry Julius

New data from the US Census Bureau has optimistic news for Boston companies that sell business-to-business.

There are approximately 122,000 businesses in the Boston area, according to the Census Bureau. Indeed, many of these businesses have suffered since the onset of the Coronavirus, especially in April.

Current census now indicates the fortunes of area companies are improving. This includes those companies with 500 or fewer employees. These small businesses account for 94% of all Boston area firms.

During the week of April 26, 45.6% of Boston area small businesses reported temporary closures.  By July 1, the number dropped to 20.8%

Also, during that same week, 77% of Boston small business owners were reporting decreases in revenue versus the prior week.  By the end of June, that number fell by half.

In both June and July of this year, national data shows all retail and food services spending significantly outperformed the prior year by between two and three percent.

As the business climate improves in the Boston area, the fortunes of B2B companies will accelerate as well. These include those businesses that sell office supplies, restaurant supplies, cleaning services, legal services, accounting services, transportation services, banking services, technology, and commercial real estate.

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Topics boston radio, best way to advertise, radio advertising, roi, small business owner, small business marketing, small business, B2B advertising, business-to-business, advertise on radio, small business advertising, return on investment, advertise on boston radio

How Has Working From Home Affected Boston Radio?

Aug 24, 2020 6:45:00 AM / by Larry Julius

Before COVID-19, most listening to Boston radio happened outside the home. Consumers were tuning-in to their favorite stations from the car on the way to their job. Then, they tuned-in when they arrived at work. They listened again during the commute back home.

Nielsen recently surveyed consumers who worked from home before and during the novel coronavirus outbreak. The results show, as of June, 66% of respondents now work from home full-time as a consequence of the pandemic.

As consumers are compelled to work from their houses and curtail their commutes, the share of at-home listening to Boston radio has grown by 24%, according to Nielsen.

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Topics best way to advertise, radio advertising, advertise on radio, corona, covid 19, coronavirus, vehicle traffic, commuting, pandemic, radio listening, listening location, time spent listening, work from home

Advertising in Boston: The Radio Century

Aug 20, 2020 7:02:00 AM / by Larry Julius

Boston radio reaches more area 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 Boston consumers is remarkable considering today is the medium's 100th birthday.

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Topics best way to advertise, reach, radio advertising, roi, advertise on radio, return on investment, radio commercials, radio history, advertising on radio

What Is The Best Way To Reach Boston's 4 Million Consumers?

Aug 17, 2020 10:05:32 AM / by Larry Julius

Despite all of the media options available for small business owners to market their goods and services, advertising on Boston radio is still the best way to reach local consumers.

Adult consumers are spending 741 minutes per day consuming electronic media, according to a new study by Nielsen.  This is 7.8% more time than they spent last year and 11.2% more than in 2018.

The typical daily media diet consists of radio, live TV, time-shifted TV, DVD/Blue-ray devices, game consoles, internet-connected devices, as well as internet via computers, smartphone apps, and tablet apps.

According to Nielsen, despite all of these media options, local radio reaches the most consumers every week.

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Topics retail, best way to advertise, reach, radio advertising, advertising reach, small business owner, small business marketing, small business, effective advertising, advertise on radio, small business advertising, reach & frequency, retail sales, retailer, retail store

What Boston Consumers Need To Know Now About Your Small Business

Aug 12, 2020 6:51:05 AM / by Larry Julius

There is good news for Boston retailers and restaurants.

As a result of the pandemic, one-third of consumers indicate they will pay a premium for local brands and products, according to a recent study by Ernst & Young

However, before consumers will buy from a local business in Quincy, Newburyport, Framingham, or any town in-between, they must know they can do so without risking their health.

Advertising is the only practical way to let local shoppers and diners know about the precautions and practices your small business has taken to reduce potential health threats.

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Topics retail, best way to advertise, small business owner, small business marketing, small business, effective advertising, writing a commercial, small business advertising, retail sales, retailer, retail store, corona, covid 19, coronavirus, commercial length, radio commercials

Advertising In Boston: Radio Listening Unchanged From Year Ago

Aug 7, 2020 9:58:28 AM / by Larry Julius

During July, Boston's 3,142,800 adult radio-listeners spent two hours per day listening to their favorite stations, according to Nielsen. Although local consumers had spent fewer minutes listening at the onset of the pandemic, the current time tuned-in remains unchanged compared to a year ago.

Some advertising experts had predicted that as consumers spent more time at home because of COVID-19 concerns, the hours devoted to radio listening would decrease. That, however, was not the case.

In July of 2019, according to Nielsen, 34.3% of radio listening occurred at home. During July of this year, in-home listening jumped to 42.6%. Despite the reduction in out-of-home activities, though, consumers still spent the exact amount of time listening to Boston radio.

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Topics best way to advertise, radio advertising, small business owner, small business marketing, small business, pandora, spotify, advertise on radio, small business advertising, corona, covid 19, coronavirus, sirius/xm, pandemic, radio listening, podcasts

Advertising On Boston Radio Reaches Pay-TV's Cord Cutters

Jul 30, 2020 8:28:03 AM / by Larry Julius

More than one-third of Boston area households are 'cord-cutters' or 'cord-nevers'. This means, they have fired their cable or satellite television providers or never subscribed at all. Instead, these consumers are choosing to find their video entertainment elsewhere.

The number of local homes that subscribe to pay-TV services began plummeting in 2013. New technologies has allowed viewers to bypass cable and satellite for more compelling content at lower prices. These cord-cutters now depend on services like Netflix, Hulu, Disney+, and Amazon Prime to fill their multiple screens.

For many years, Boston small business owners have been investing a significant portion of their advertising budgets into cable-TV.  The medium had proven to be a low-cost, high-reach alternative to buying commercial on over-the-air television stations. 

Now, because of cord-cutting, there are 1.3 million adult consumers with unconnected TVs. This profoundly diminishes the value proposition of advertising with local cable systems.

There is a powerful and affordable solution, however, for small business owners to reach both the diminishing cable audience and the expanding number of cord-cutters.

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Topics best way to advertise, radio advertising, small business owner, small business marketing, television advertising, small business, advertise on radio, small business advertising, television, PAY-TV, Cable TV, cord-cutter, cord-never

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