New data from the US Census Bureau has optimistic news for Fayetteville companies that sell business-to-business.
There are approximately 6000 businesses in the Cumberland and Robeson County, according to the Census Bureau. Indeed, many of these businesses have suffered since the onset of the Coronavirus, especially in April.
Census information is now showing positive indicators that the fortunes of area companies are improving. This includes those with 500 or fewer employees. These small businesses account for 88% of all Fayetteville area firms.
During the week of April 26, 36% of North Carolina small businesses reported temporary closures. By July 1, the number dropped to 11%
Also, during that same week, 68% of North Carolina small business owners were reporting decreases in revenue versus the prior week. By the end of June, that number fell by more than 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 Fayetteville 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.
By almost any metric, the best way for local B2B companies to advertise is on Fayetteville radio.
Every week, Fayetteville radio reaches 97.7% of consumers who make purchase decisions for their businesses. This is significantly more local decision-makers than are reached by any other medium.
Fayetteville radio is an especially potent way to reach small business owners, a group crucial to the success of every B2B company.
According to Nielsen, every week, local radio stations reaches 92% small business owners in Cumberland and Robeson counties.
In addition to providing near-universal reach among those people who make purchasing decisions at Fayetteville businesses, radio advertising also provides a strong return-on-investment.
Over the past few years, Nielsen has conducted more than 20 studies to determine what type of ROI a business owner can expect from radio advertising. Although the results varied by industry, the average company generated $100 in sales for every $10 invested.
AdAge, a trade magazine for advertising professionals, calls these types of return "eye-popping". The magazine goes on to say radio's ROI is superior to commercials on TV, online, and social media.
When presented with this ROI data, marketing expert Doug Schoen wrote in Forbes, "The implications of results like these are profound for the communications and advertising industries and as a marketing professional with over 35 years of experience, I found this data nothing short of fascinating. It’s quite clear that we should all be paying more attention to radio, its reach and potential to help our businesses. It’s doing the job with expert efficiency."
More Advertising Advice For Fayetteville Small Business Owners
- How Has Working From Home Affected Advertising On Fayetteville Radio?
- Advertising in Fayetteville: The Radio Century
- What Is The Best Way To Reach Fayetteville's 350,000 Consumers?
- What Fayetteville Consumers Need To Know Now About Your Small Business
- Advertise In Fayetteville: Radio Listening Little Change vs. Last Year
- Advertising On Fayetteville Radio Reaches Pay-TV's Cord Cutters
