The top concern of every New England small business owner is the health and safety of their families and employees.  Local information and breaking news regarding the Coronavirus is available by clicking here.

Of course, a secondary concern is tending to the health of their business amid an overabundance of social and financial disruptions. 

There is one prescription that helped many Boston area businesses survive the Great Depression of 1929, the economic crash of 2009, and every recession in between.  The Rx for keeping a business healthy during chaotic times is to continue advertising.

The best example of how advertising can fend off tough times was shared by The New Yorker magazine financial columnist James Surowiecki.

New England retailers spend a considerable amount of time and money marketing their small businesses on social media.  Is this effort paying off?

Each month, according to Nielsen, 2.8 million Boston area adults use Facebook, Instagram, or Twitter. This equates to 71.2% of consumers.  This reach is rather anemic compared to Boston radio and TV, which attracts considerably more users in a single week than these social media platforms do over 30 days.

Among local millennials, the monthly reach of Facebook, Instagram, and Twitter is eclipsed by the weekly reach of Boston radio.

The number of consumers reached by an advertising campaign, according to Nielsen, is the media consideration that has the most significant effect on increasing sales. 

There are 2.3 million consumers in the Boston area who own their own homes. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for New England homeowners to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Boston', more than 6.5 million results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By any key metric, advertising on local radio is the best way to reach area homeowners.

Retailers in the Boston area rang-up $100,992,095,000 in retail sales last year, according to Nielsen. But wait. It's about to get better.

The National Retail Federation forecasts that in 2020, sales will increase by as much as 4.1%. This will create another $4.2 billion for local small business owners.  

“The economy is growing at a more modest pace, but the underlying economic fundamentals remain in place and are positive,” stated NRF chief economist Jack Kleinhenz. “Consumers remain upbeat and have the confidence to spend, and the steady wage growth that has come with the strong job market is fueling their spending. The state of the consumer is very healthy.

To claim a fair share of this enlarged pool of spending will require New England small business owners to advertise.

“Think you have a great product?” asks the U.S. Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”  

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.