If you were one of the 281,300 adults who tuned-in to a Fayetteville radio station last week, then no doubt you heard multiple commercials that included phrases like 'troubling times', 'uncertain times', 'unprecedented times', 'new normal', and 'we're in this together'.
In March, as the pandemic began to disrupt consumers' lives, using these phrases was a powerful way for North Carolina small business owners to acknowledge the severity of the crisis and to exhibit empathy. But 120 days later, these words have become cliche and have lost potency.
A cliche, says the Oxford Dictionary, is "a phrase or opinion that is overused and betrays a lack of original thought."
According to the Writing Center at The University of North Carolina, the dependence on cliches could create a harmful perception of a business that uses them. For instance, these overused phrases can make an advertiser's message seem boring. They can be perceived as vague. They can be interpreted to be a sign of laziness. They can also result in a lack of credibility.
The words a Fayetteville area small business chooses for its advertising will have the most significant effect on sales. That's why eliminating cliches is critical.
Read More
Topics
commercial,
commercial length,
creative,
small business,
small business owner,
fayetteville small business owners,
effective radio commercial,
radio commercials,
effective radio advertising,
memorable radio commercials,
radio advertising,
small business marketing,
advertise on radio,
small business advertising,
scripts
This year, according to Nielsen, 689,000 Fayetteville area consumers will spend $192 million on eco-friendly goods and services. Sales for sustainable products have grown 20% since 2014, a trend expected to continue into 2021.
Tensie Whelan and Randi Kronthal-Sacco of the New York University Stern Center for Sustainable Business write in the Harvard Business Review, "Consumers are voting with their dollars against unsustainable brands. The legacy companies that will thrive are those that accept this shift and are willing to pivot.”
For North Carolina small business owners who are skeptical that sustainability affects purchase decisions, retail analyst Stacey Widlitz provided this advice, recently, in Forbes.
"Retailers only need to look to IBM's recent study, in association with the National Retail Federation, to understand just how fast consumer priorities are changing," says Ms. Widlitz. "Findings from the study revealed nearly 60% of consumers surveyed are willing to change their shopping habits to reduce environmental impact. For the nearly 80% of respondents who said sustainability is important to them over 70% would pay a premium of 35% on average."
To compete for a share of consumers' spending on green goods and services requires local small business owners to advertise.
Read More
Topics
Retailer,
millennials,
retail,
small business,
small business owner,
radio advertising,
retail sales,
retail stores,
small business marketing,
retail traffic,
advertise on radio,
retail store traffic,
small business advertising,
sustainable,
eco-friendly,
green products
Before the onset of COVID-19, more than 59,000 Fayetteville area households were planning to spend $123 million on furniture, according to Nielsen. Unfortunately, many of those plans were put on pause as consumers sheltered in place to help slow the spread of the virus.
A recent study by Elevate | SmithGeiger suggests that the fortunes of home furnishing retailers, however, are about to improve.
According to the study, 32% of consumers who had been planning to buy furniture will do so within three months of the pandemic easing. Fifty percent will do so within six months. The numbers for mattress shoppers are even stronger.
To capture a significant share of the post-pandemic sales of furniture and mattress will require retailers to advertise. The most effective way to reach the customers who are ready to buy is on Fayetteville radio.
Read More
Topics
Retailer,
retail,
small business,
small business owner,
best way to advertise,
mattress,
furniture,
radio advertising,
retail sales,
retail stores,
small business marketing,
retail traffic,
advertise on radio,
retail store traffic
There are more than 286,000 registered voters in the Fayetteville area. Here is the number by county:
- Cumberland: 212,671
- Robeson: 74,153
According to Nielsen, Fayetteville radio reaches significantly more of these registered voters than all other media, including local television pay-TV, newspaper, social media platforms, and streaming audio sites like Pandora or Spotify.
To be elected, however, requires candidates for every office to share their message with those who are not only registered but who are likely to vote. Advertising on Fayetteville radio will reach, by far, the most voters who can be counted on to show up on election day.
Read More
Topics
best way to advertise,
issue advertising,
political advertising,
radio advertising,
advertise on radio,
election advertising,
political rates,
political rate card,
registered voters,
likely voters,
voters
Following the lead of many national marketers, some Fayetteville area small business owners are considering canceling or, at minimum, pausing their advertising schedules with social media network Facebook and its co-owned photo-sharing platform, Instagram.
According to the New York Times, "more than 400 companies, from Coca-Cola and Adidas to Ford and Lego, have vowed to halt advertising on the social network, in a growing protest over how it handles hate speech and other harmful content".
With the pandemic figured in, Fayetteville small business owners were expected to spend $11 million on Facebook and Instagram advertising in 2020. This is according to Borrell Associates, a firm that specializes in the collection and analysis of local marketing expenditures in every city across the United States. But these expenditures could shrink if the protests become louder.
Every type of North Carolina business imaginable, including clothing stores, plumbers, HVAC repair, funeral homes, restaurants, dentists, and nonprofits, has come to realize how powerfully social media can contribute to their bottom lines.
Part of what makes Facebook and Instagram attractive to small business owners is the enormous reach these platforms have among consumers. Locally, the audience size for these two social media sites now rival Fayetteville radio, TV, cable, and newspaper outlets.
For small business owners considering a hiatus from social media advertising, there is a viable way to redirect these dollars into a different medium without losing the marketing equity or momentum built-up on Facebook.
Read More
Topics
small business,
small business owner,
best way to advertise,
facebook,
social media,
instagram,
advertise on social media,
social media advertising,
radio advertising,
facebook advertising,
advertise on radio
Based on statistics from the Bureau of Labor Statistics, before the COVID-19 crisis, Fayetteville area households were putting more than $1 billion in the bank every year.
Since February, however, local banks and credit unions noticed that customers' savings accounts were beginning to swell to record levels.
According to the Federal Reserve, for many years, the personal savings rate has hovered well below 10%. The PSR is the percentage of personal disposable income that remains after taxes and all other spending.
In April of this year, the PSR hit an all-time high of 33%. The rate remained at stratospheric levels in May, as well. The previous record high was 17.3% in September of 1975 at the tail-end of a deep recession.
There are more than 2800 banks and credit unions in North Carolina who would love to earn a large share of this infusion of new savings. To compete, though, requires advertising. By almost any metric, the best way to reach new depositors is by advertising on Fayettevilleradio.
Read More
Topics
small business,
small business owner,
best way to advertise,
radio advertising,
bank,
advertise on radio,
credit union,
certificate of deposit,
savings accounts
From Raeford to Vander (and every point in between), Fayetteville area real estate agents see a robust, post-pandemic market shaping up. Home sales are being driven by record low-interest rates.
The average rate for a 30-year fixed rate in June is 3.17%, according to Freddie Mac. This is down from 3.99% June of last year. That difference could save a North Carolina home buyer close to $30,000 over the term of a loan.
Data from the Federal Reserve indicates that one of the fast-growing segments of the current real estate market is starter homes. Sales in May for these modest price houses have risen above pre-COVID-19 levels and have hit a three year high.
Feuling the starter home market is demand from millennials. This generation now comprises 37% of all home buyers, says the National Association of Realtors Research Group.
To claim a large share of the market for starter homes, local real estate agents will need to advertise to attract these buyers. By almost any metric, advertising on Fayetteville radio is the best way to reach millennials planning to buy a house, condo, or co-op over the next year.
Read More
Topics
small business,
small business owner,
best way to advertise,
radio advertising,
real estate,
home buyers,
mortgages,
mortgage rates,
home sellers,
advertising on radio,
real estate agent
During lockdown, Fayetteville consumers have been postponing the purchase of major appliances. Despite the pause in buying, however, local shoppers are still expected to spend $23 million this year on ovens, stoves, refrigerators, freezers, washing machines, dryers, and dishwashers.
Here's how appliance sales in the Fayetteville area will breakdown by category:
- Cooking: $6,400,000
- Refrigerator/Freezer: $3,900,000
- Laundry: $4,100,000
- Other: $6,000,000
Based on traditional buying patterns, at least 60% of all major appliance sales will occur between now and December.
To capture a larger share of all this spending will require local appliance dealers 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.”
The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business”.
By almost any measure, advertising on Fayetteville radio is the best choice for local appliance store owners.
Read More
Topics
Retailer,
roi,
return on investment,
retail,
small business,
small business owner,
best way to advertise,
consumer spending,
radio advertising,
retail sales,
retail stores,
retail traffic,
advertise on radio,
retail store traffic,
appliance store
Despite the pandemic, Fayetteville area consumers are expected to spend $22 million on fine jewelry this year. Based on projections from IBISWorld, here's what will be purchased:
- $9 million worth of diamonds
- $3 million worth of watches
- $2 million worth of gold
- $2 million worth of pearls and gemstones
- $4 million in other goods and services
North Carolina business owners will now have an easier time capturing a bigger share of jewelry expenditures as a monster competitive force disappears.
This week, Signet, the largest jewelry retailer in the country, announced that by December, it would be closing over 380 stores. Signet's brands familiar to local consumers include Kay, Jared, Zales, and Piercing Pagoda.
To successfully compete for the void created by fewer Signet stores, local retailers will need to advertise, especially between now and the end of the year. This is when 63% of all fine-jewelry sales traditionally occur.
By any metric, the best way to reach local jewelry buyers is by advertising on Fayetteville radio.
Read More
Topics
Retailer,
roi,
return on investment,
retail,
best way to advertise,
bridal,
bridal market,
wedding,
consumer spending,
radio advertising,
retail sales,
retail stores,
retail traffic,
retail store traffic,
jewelry stores,
advertising on radio
At the dawn of 2020, Fayetteville small business owners were expecting the area's retail economy to expand by 4.1%. This optimism was stoked by the National Retail Federation's chief economist who said, "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."
By February, however, the country entered into a COVID-19 induced recession. Then, to slow the spread of the pandemic, on March 30, the Governor of North Carolina locked the state down. This brought the Fayetteville area's $8.1 billion retail economy to a standstill.
As stores, restaurants, and offices in the Fayetteville area begin to re-open, consumers' appetite for spending is returning. According to Nielsen, loyal radio listeners are very likely to be first in line at the cash registers.
Read More
Topics
Retailer,
retail,
small business,
small business owner,
best way to advertise,
consumer spending,
radio advertising,
automotive,
retail sales,
retail stores,
coronavirus,
corona,
covid 19,
reopen,
retail traffic,
advertise on radio,
retail store traffic,
recovery
Fayetteville small business owners are learning that 're-opening' may not be an appropriate word for the challenges they face as the Coronavirus crisis winds down. A better term might be 're-introducing'.
Since the Governor of North Carolina shuttered the state on March 30, to slow the spread of COVID-19, Fayetteville area consumers have discovered new ways to buy the goods and services they need. It's now the burden of local business owners to lure these customers back. The first step is re-introduction.
In 1939, WFNC signed-on as the first radio station serving Fayetteville. Since then, local business owners have used radio advertising to introduce themselves successfully to new customers. Radio has also helped these businesses survive recessions, depressions, world wars, hurricanes, and floods. By any metric, advertising on local radio remains the most effective tactic a small business owner can use post-pandemic, as well.
Read More
Topics
Retailer,
commercial,
roi,
return on investment,
commercial length,
retail,
small business,
time of day,
daypart,
prime time,
small business owner,
best way to advertise,
memorable radio commercials,
radio advertising,
retail sales,
retail stores,
reopen,
retail traffic,
retail store traffic
More than 92% of Fayetteville area households own at least one vehicle.
Pre-pandemic, 84% of workers spent, on average, 46 minutes every weekday in these cars commuting to-and-from their jobs.
On their way to work, many of these drivers would contribute to the Fayetteville area's $8.5 billion retail economy by visiting the convenience stores, coffeehouses, auto repair centers, gas stations, daycares, grocery stores, or hundreds of other businesses they passed.
At lunchtime, these same cars would take their owners to restaurants, dentist appointments, nail appointments, barbershops, and on an infinite number of other errands.
On the weekends, these vehicles filled the parking lots of hardware stores, furniture stores, car dealers, appliance stores, bowling alleys, movie theatres, and nightclubs,
Then on March 30, when the Governor of North Carolina shut down the state to slow the spread of COVID-19, traffic came to a standstill and so did the spending.
There are strong indications, though, that in the Fayetteville area, roads are filling up again.
Read More
Topics
Retailer,
roi,
return on investment,
retail,
small business,
store traffic,
small business owner,
best way to advertise,
in-car audio,
consumer spending,
radio advertising,
retail sales,
retail stores,
retail traffic,
retail store traffic,
vehicle traffic
Fayetteville small business owners may perceive the continuation of advertising as a luxury right now. This is especially so when compared to the necessity for covering the costs of utilities, inventory, payroll, and rent.
Before pulling the plug, though, business owners from Lumberton to Spring Lake must consider the consequences of 'going dark', a marketing term which means to stop advertising.
"According to our analysis, short-term decisions to go dark create significant risk for long-term revenue," says Ameneh Atai, Senior Vice President of Commercial Strategy at Nielsen. "This affects both incremental revenue and base sales."
"Our database of long-term effects models suggests that cutting ad spending for the rest of 2020 could lead up-to 11% revenue decrease in 2021," says Ms. Atai. "It could take three to five years of solid and consistent brand building to recover from an extended dark period of media."
"We have a ton of evidence in our historical analysis," adds Nielsen's Tsvetan Tsvetkov, Senior Vice President of Agency and Advertiser Solutions. "Companies that step away from advertising efforts for a period of time, whether it's a couple of quarters or a full year or longer lose the momentum they have built over time the minute they stop. To recover takes a long, long time."
To avoid the economic risks of going dark, local small business owners need to make sure every dollar spent on advertising produces solid returns. By most marketing metrics, advertising on Fayetteville radio could prove to be the best option.
Read More
Topics
Retailer,
reach,
roi,
return on investment,
retail,
small business,
small business owner,
best way to advertise,
radio advertising,
reach & frequency,
retail sales,
retail stores
Type "Fayetteville REAL ESTATE AGENTS" into Google. In slightly over a half-second, the search will deliver 5,080,000 results. Similar searches for Hope Mills, Dunn, Lumberton, Spring Lake, or Ft. Bragg produce a proportional number of returns.
Despite the economic hardships imposed by the Coronavirus crisis on North Carolina consumers, the demand for real estate is booming.
The Wall Street Journal published a trend yesterday indicating that mortgage applications for purchase 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 Fayetteville radio will help accomplish this. Here's why.
Read More
Topics
Streaming Audio,
small business,
small business owner,
best way to advertise,
newspaper advertising,
online advertising,
social media advertising,
radio advertising,
television advertising,
real estate,
home buyers,
pay-TV,
home sellers
To slow the spread of COVID-19, the Governor of North Carolina shut down all but the most essential businesses in the state on March 30. This public safety measure inflicted a severe disruption to the Fayetteville area's $8.1 billion retail economy.
As local small business owners prepare to reopen, each must concentrate on supercharging their cash flows to compensate for weeks of consumer abstinence. Turning the lights back on and hanging out a welcome sign might not be enough, though, to bring even the most loyal customers back.
Some customers may not return because of personal safety concerns. Other customers may have discovered alternative sources to purchase goods and services.
But, there is one thing every North Carolina small business owner can be assured of. Consumers will not return if they aren't aware that a business has reopened.
Advertising is a potent tactic for any Fayetteville small business that needs to reintroduce itself to local consumers.
“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.”
Read More
Topics
Retailer,
retail,
small business,
store traffic,
small business owner,
best way to advertise,
radio advertising,
retail sales,
retail stores,
coronavirus,
corona,
covid 19,
crisis marketing,
reopen