Type "BOSTON REAL ESTATE AGENTS" into Google. In slightly over a half-second, the search will deliver 33,900,000 results. Similar searches for Brookline, Cambridge, Newton, Lexington, Boxborough, or Westford produce a proportional number of returns.
Despite the economic hardships imposed by the Coronavirus crisis on Boston area consumers, the demand for real estate is booming.
The Wall Street Journal published a trend yesterday indicating that mortgage applications for purchasing a home have achieved levels equal to last year.
According to redfin.com, home buying demand is 16.5% higher now than it was pre-COVID-19 on a seasonally adjusted basis.
Redfin attributes this explosive growth in real estate shoppers to two factors, including record-low mortgage rates. The other primary driver is a migration trend from expensive metropolitan areas as buyers hunt for more space at lower prices.
To capture a larger share of the robust market, local real estate agents need to stand apart from the millions of Google results. Advertising on Boston radio will help accomplish this. Here's why.
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best way to advertise,
newspaper advertising,
small business owner,
online advertising,
social media advertising,
television advertising,
small business,
advertise on radio,
home buyers,
home sellers,
real estate,
streaming audio,
PAY-TV
Facebook usage has swelled since the onset of the Covid-19.
According to Nielsen, before the current chaos, 65% of Boston area adults used Facebook each month. This was significantly fewer than were reached by local radio or television each week.
According to the New York Times, however, since the start of the Coronavirus, daily Facebook traffic has increased by 27%. This compares to 33% growth in the amount of time consumers spend listening to local radio during a similar period.
Based on the surge in Facebook consumption, Boston small business owners might be tempted to purchase advertising on the social media platform to augment their regular, free postings. Here are are few facts these businesses should consider before investing.
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best way to advertise,
radio advertising,
small business owner,
online advertising,
social media advertising,
small business,
facebook advertising,
digital advertising,
facebook,
trust
Since the onset of the Coronavirus crisis, consumers are not flocking into the showrooms, storefronts, offices, or dining rooms of Boston's small business owners. It turns out, though, social distancing has not proven to be an impediment to shopping.
New England consumers are still spending money despite the chaos imposed by the pandemic, according to Gordon Borrell, CEO of Borrell & Associates. His company specializes in the collection of marketing data from business owners across the country.
"During depressions, recessions, floods, hurricane, earthquakes, fires, and, now, pandemics, commerce goes on," Mr. Borell told members of Boston's small business community during a recent teleconference.
To prove his point, he shared research from IBISworld which, indicates spending continues despite a plunge in consumer confidence.
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radio advertising,
consumer spending,
small business owner,
online advertising,
small business,
corona,
covid 19,
coronavirus,
crisis marketing,
web traffic,
website vistiors,
e-commerce
The chaos created in New England by the onset of Coronavirus has been a disruptive force among consumers.
Work routines, buying habits, family life, and media consumption have all been palpably affected. These are all factors that need to be considered by small business owners who continue to advertise their goods and services during the crisis.
Before the current chaos, advertising on Boston radio, by any metric, was the best way a local small business could advertise.
For instance, pre-Coronavirus, 3.5 million adult consumers tuned-in to a Boston radio station every week. This is significantly more than watched local TV, read a newspaper, accessed social media, or streamed audio from sites like Pandora and Spotify.
New research released from Nielsen indicates that amidst the current crisis, listening to local radio remains little changed. This is great news for those Boston area small business owners who are depending on advertising for their long-term survival.
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newspaper advertising,
radio advertising,
small business owner,
small business marketing,
online advertising,
social media advertising,
television advertising,
small business,
digital advertising,
small business advertising,
streaming audio,
corona,
covid 19,
coronavirus,
crisis marketing
New England small business owners are fighting the coronavirus battles on multiple fronts. Their first objective is to keep their families and employees safe. Then, of course, there are the concerns of keeping their businesses healthy enough to survive current disruptions.
The business literature has an abundance of case studies showing how survival is often connected to a thoughtful communications and marketing strategy during challenging times.
Business owners need to let Boston area consumers know if they are still open. If their hours have changed. Or if they are providing alternative shopping methods (e.g., delivery, curbside pick-up).
Most importantly, it is imperative consumers know that a business will still be there for them when the crisis is over.
For those owners who are depending on communication to preserve their business, the best option may be to advertise on Boston radio.
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retail,
best way to advertise,
newspaper advertising,
radio advertising,
roi,
small business owner,
online advertising,
social media advertising,
television advertising,
small business,
facebook advertising,
return on investment,
retail sales,
retail store,
corona,
covid 19,
restaurants,
coronavirus
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.
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best way to advertise,
newspaper advertising,
radio advertising,
small business owner,
online advertising,
millennials,
social media advertising,
television advertising,
small business,
facebook advertising,
working mothers,
mothers,
pandora,
spotify,
digital advertising,
parents,
children
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.
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best way to advertise,
newspaper advertising,
radio advertising,
consumer spending,
small business owner,
online advertising,
social media advertising,
television advertising,
small business,
facebook advertising,
pandora,
spotify,
digital advertising,
used cars,
automotive,
used trucks,
used vehicles
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.
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store traffic,
retail,
best way to advertise,
newspaper advertising,
radio advertising,
consumer spending,
small business owner,
online advertising,
social media advertising,
television advertising,
small business,
pandora,
spotify,
digital advertising
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.
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Topics
newspaper advertising,
radio advertising,
consumer spending,
small business owner,
online advertising,
social media advertising,
television advertising,
small business,
facebook advertising,
pandora,
spotify,
digital advertising,
restaurant marketing,
restaurant advertising,
mother's day
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.
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Topics
best way to advertise,
newspaper advertising,
radio advertising,
consumer spending,
small business owner,
online advertising,
social media advertising,
television advertising,
small business,
digital advertising,
home decor,
home improvement,
remodeling