Consumers in the Fayetteville, NC metro area (Cumberland and Roberson counties) are expected to spend at least $7.1 billion at retail this year. To claim a greater share of this giant pool of cash requires local business owners of every size to advertise their goods and services.
The U.S. Small Business Administration recommends that established businesses with more than $5-million dollars in gross revenue should budget 7-8% to advertise. Businesses who have not yet achieved that level of revenue, should plan on investing 10-12%. Newer businesses that may not yet be familiar to their target consumers should plan on investing a larger percentage.
There are numerous ways for North Carolina small business owners can allocate their advertising budgets. Options include local newspapers, local magazines, local television, and online.
Radio Advertising Delivers The Greatest Return-On-Investment
The option that generates the greatest return-on-investment, however, is advertising on Fayetteville radio. According to Advertising Age Magazine, when executed correctly, radio advertising can deliver a greater ROI than investing in TV, digital, or social media ads.
Nielsen, a company that analyzes consumer behavior and media habits, has conducted more than 20 studies to determine how much ROI a business owner could expect when advertising on radio. Overall, it was proven that radio ads produce a very impressive 10-time return-on-investment.
How much does it cost a small business owner to advertise on Fayetteville radio? That answer varies based on a number of key factors.
Once a Fayetteville small business owner allocates an advertising budget, then radio station selection; campaign duration; and commercial lengths can be decided in a manner that conforms to that budget.
Criteria That Determines The Cost of Radio Advertising
Individual radio station pricing is based on several factors:
- Number of listeners
- Day of week
- Time of day
- Time of year
- Current advertiser demand
- Commercial length
The advertising budget allocated for most campaigns on Fayetteville radio can be fulfilled by carefully considering each factor above. Reputable radio station account executives can provide the necessary data for business owners to weigh both the efficiency and effectiveness to balance these factors.
Sometimes, though, when daily expenses challenge their cash flow, North Carolina small business owners must prioritize budgeting. Many times, unfortunately, buying commercials on Fayetteville radio will move down the list behind making payroll, maintaining delivery vehicles, and replenishing stock. A lot of times advertising doesn’t make the list at all.
Building A Budget That Lasts
Periods of budget crunch or a difficult economic environment is not the time to cut advertising.
Henry Ford believed continual advertising was a wise investment. “Saving money by not advertising,” he claimed, “is like stopping a clock to save time.”
The most successful small business owners advertise on Fayetteville radio continually. They avoid “going dark”. In other words, they advertise consistently, even when cash gets scarce. These local business owners know that there are always consumers in the buying-cycle for their products and services. Converting these prospects to customers is critical to their success.
Ca
rolyn Barbour, co-owner of Budget Rooter, a Fayetteville based plumbing company, agrees with Mr. Ford. In 2007, when the economy took a downturn and many of Budget Rooter’s competitors began to fail. Not wishing to succumb to the same fate, Ms. Barbour decided to expand the company’s advertising efforts.
Radio Advertising Fuels Growth
“For the first several months, our radio helped us keep our nose above water,” says Ms. Barbour. “I promise you, it was advertising on Fayetteville radio that kept us afloat.”
As Ms. Barbour tells it, after being on radio consistently for nine months, the business started to takeoff. “In the deepest part of the downturn,” she recalls, “we were growing.”
Since 2007, there has never been a month that Budget Rooter hasn't budgeted for radio advertising.
Caper Fear Flooring is another successful small business that places a high priority on advertising.
“We began advertising on Fayetteville radio in 2000, a year after we opened,” remembers co-owner, Amie Crouter. “We had just expanded into water mitigation a few months earlier. I had just set up an account with Mohawk, one of the largest manufacturers of floor coverings in the world. And, we had just sold our first flooring job even before we had hired an installer.”
After 18 years, Cape Fear Flooring still advertises on Fayetteville radio.
“Radio advertising has really driven our growth from the beginning,” says Ms. Crouter. “We have always asked new customers how they found out about us. Overwhelmingly, we are told they heard our radio commercials.”
“Since we started advertising on the radio, we’ve never stopped,” she says. “Advertising on Fayetteville radio has provided an excellent return-on-investment for us.”
Learn More About Advertising On Fayetteville Radio
