Twin Falls Marketing, Advertising & Business - August 2023
There’s been all sorts of chatter - on both sides - about the role of renewable energy projects in the future. It’s no secret that the Magic Valley has been a hot spot for them, pardon the pun. New developments in the renewable saga are a top regional headline, along with some heartwarming awards and improved transportation. On a national level, advertising trends show a unity between digital and radio kick things off. Let’s get to it!
Twin Falls Business News
Possible Moratorium on Renewable Energy Projects
We’ve reported a few times in 2023 on the boom in renewable energy projects across the Magic Valley. That boom may be slowing, or stopping, indefinitely. On July 26, a public hearing will be held by commissioners that would block new utility-scale renewable energy projects for 182 days. Of note is that only private-land projects will be emphasized, since Twin Falls County does not have oversight on public lands. Boise State Public Radio has the full story.
Latest Twin Falls Chamber of Commerce “Extra Mile Award” Winner
Nominees for the Extra Mile Award “show professionalism with a positive outlook and attitude toward their job. And the newest recipient, Misty Chapa, is renowned for it. The real estate agent with Westerra Real Estate Group won this award in addition to being last year’s reader’s choice for best real estate agent in the valley. KMVT CBS 11 has the entire scoop on the award, and Ms. Chapa’s role in the region. If you know someone worth nominating, head to the Chamber of Commerce’s website.
Progress Made on Twin Falls Microtransit
Mandi Thompson, assistant to the City Manager, had plain words for describing the status of the new Twin Falls microtransit system: “We are absolutely on an upward trend”. The RIDE TFT service enables people to request transportation within city limits, by way of app or simply dialing a number. The biggest hurdle to immediate success has been wait times, though they are steadily improving.
Radio, Advertising & Marketing
Digital Growing as 1B to Radio Companies’ 1A
A huge media survey has unveiled even larger findings: digital offerings by radio companies can be complementary to their overall success. The results of Borrell Associates’ first 2023 survey found nearly one third of respondents said they were buying digital advertising from a radio company. This follows estimates that radio would generate $2 billion in digital sales for the year 2023.
Global Radio Advertising Market Expected to Grow Steadily Through 2030
But pure digital is far from the purest advertising answer! Infinity Business Insights published a behemoth of a report projecting the future of global radio advertising. It hypothesized that the industry would continue its upward trend, at a CAGR (compound annual growth rate) of roughly 6.6%. In 2023, the global market achieved a value of $37.2 billion. By 2030, that CAGR would equate to $48.8 billion.
Radio and Election Season
We’ve long established the unparalleled reach of radio. But one realm seems to avoid it - politics. Radio is estimated to book $400 million in political advertising in the upcoming 2024 cycle. That sounds hefty…until you factor in that $12 billion is the estimate for ad spend spanning all media (so, 3%). The InsideRadio article, linked above, explores what can occur locally - and in Washington D.C. - that would see radio secure a larger piece of the political ad spend pie
The Best Advertising in Twin Falls
Whether it’s digital, radio, or a combination of both that your local business needs, Iliad Media Group is the most reliable bunch in town, with the best stations around. We help businesses be heard on the radio and found online with stories that make customers eager to buy. Let’s chat, and close out 2023 with a sales bang!
