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Fayetteville Small Business Update: Auto Parts Sales Accelerate

Sep 18, 2020 3:18:45 PM / by Larry Julius

There are more than 267,000 vehicles registered in the Fayetteville area. Many need new windshield wipers, shocks, struts, brakes, air filters, ignition coils, and the hundreds of other items that fill the shelves of local auto part dealers.

Despite the pandemic induced slowdown, business at auto parts stores has grown nearly 13% since February, according to the US Census Bureau.

This explosive growth in auto parts sales directly relates to the  average age of cars on Fayetteville's roads.

"Per the latest study from IHS Markit, the current combined average age of vehicles has hit a record of 11.9 years," Rimmi Singhi wrote this week on NASDAQ.com. "The aging vehicles are a boon to auto parts, replacement, and repair companies. In a bid to ensure long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components."

Also contributing to the rapid aging of cars on the road is the current demand for used versus new vehicles. According to the Bureau of Economic Analysis, the personal consumption expenditures (PCE) for used cars is 25% higher in August than it was during the same month last year.

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Topics Retailer, retail, small business, small business owner, fayetteville small business owners, best way to advertise, radio advertising, used cars, used vehicles, retail sales, retail stores, small business marketing, retail traffic, retail store traffic, advertising on radio, small business advertising, used trucks, auto parts

Advertising In Fayetteville: OTT & CTV Viewing Soars

Sep 5, 2020 8:17:14 AM / by Larry Julius

Advertising on local television and cable is becoming less attractive to Fayetteville business owners as viewers rapidly defect to alternative video entertainment sources including, Netflix, YouTube, Hulu, Amazon and Disney+.

Collectively these streaming services are referred to as Over-The-Top Television (OTT) and Connected-TV (CTV). Viewers can only access this OTT and CTV content via smartphone, tablets, computers, smart-TVs, Amazon Fire Sticks, and Roku Sticks, Nielsen reports that 94.2% of Fayetteville adults own at least one these devices. Furthermore, they are using them.

According to Nielsen, OTT and CTV networks now reaches 42.3% of all Fayetteville consumers every week.

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Topics television, small business, small business owner, fayetteville television, fayetteville small business owners, best way to advertise, radio advertising, television advertising, small business marketing, pay-TV, cable television, advertise on radio, small business advertising, cable-tv, satellite television, ott, ctv, streaming video

B2B Advertising In Fayetteville: Reaching The Decision Makers

Aug 27, 2020 8:15:55 AM / by Larry Julius

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.

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Topics roi, return on investment, b2b, business to business, small business, small business owner, fayetteville radio stations, fayetteville small business owners, best way to advertise, fayetteville radio, small business marketing, small business advertising, advertise on fayetteville radio

What Is The Best Way To Reach Fayetteville's 350,000 Consumers?

Aug 17, 2020 1:19:18 PM / by Larry Julius

Despite all of the media options available for small business owners to market their goods and services, advertising on Fayetteville radio is still the best way to reach local consumers.

Adult consumers are spending 741 minutes per day consuming electronic media, according to a new study by Nielsen.  This is 7.8% more time than they spent last year and 11.2% more than in 2018.

The typical daily media diet consists of radio, live TV, time-shifted TV, DVD/Blue-ray devices, game consoles, internet-connected devices, as well as internet via computers, smartphone apps, and tablet apps.

According to Nielsen, despite all of these media options, local radio reaches the most consumers every week.

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Topics Retailer, reach, roi, return on investment, retail, small business, radio effectiveness, small business owner, fayetteville small business owners, best way to advertise, effective radio commercial, radio commercials, effective radio advertising, radio advertising, effective advertising, reach & frequency, retail sales, retail stores, small business marketing, retail traffic, advertise on radio, retail store traffic, advertising reach

What Fayetteville Consumers Need To Know Now About Your Small Business

Aug 12, 2020 9:33:50 AM / by Larry Julius

There is good news for Fayetteville retailers and restaurants.

As a result of the pandemic, one-third of consumers indicate they will pay a premium for local brands and products, according to a recent study by Ernst & Young

However, before consumers will buy from a local business in Raeford, Lumberton, Spring Lake, or any town in-between, they must know they can do so without risking their health.

Advertising is the only practical way to let Fayetteville area shoppers and diners know about the precautions and practices your small business has taken to reduce potential health threats.

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Topics Retailer, retail, small business, radio effectiveness, small business owner, fayetteville small business owners, best way to advertise, effective radio commercial, effective radio advertising, restaurant advertising, effective advertising, restaurant marketing, retail sales, retail stores, restaurants, small business marketing, retail traffic, retail store traffic, small business advertising

Advertise In Fayetteville: Radio Listening Little Change vs. Last Year

Aug 10, 2020 7:02:04 AM / by Larry Julius

During the Spring of this year, 243,400 adult radio-listeners spent 1.96 hours per day listening to their favorite Fayetteville stations, according to Nielsen. Although local consumers had spent fewer minutes listening at the onset of the pandemic, the current time tuned-in remains little change compared to a year ago.

Some advertising experts had predicted that as consumers spent more time at home because of COVID-19 concerns, the hours devoted to radio listening would decrease. That, however, was not the case.

In Spring of 2019, according to Nielsen, 32.1% of radio listening occurred at home. During July of this year, in-home listening jumped to 41%. Despite the reduction in out-of-home activities, though, consumers still spent the exact amount of time listening to Fayetteville radio.

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Topics Pandora, Spotify, small business, small business owner, Sirius/XM, fayetteville small business owners, best way to advertise, effective radio advertising, radio advertising, coronavirus, corona, covid 19, small business marketing, advertise on radio, small business advertising, podcasts, pandemic

Advertising On Fayetteville Radio Reaches Pay-TV's Cord Cutters

Jul 30, 2020 2:47:52 PM / by Larry Julius

More than one-third of Fayetteville area households are 'cord-cutters' or 'cord-nevers'. This means, they have fired their cable or satellite television providers or never subscribed at all. Instead, these consumers are choosing to find their video entertainment elsewhere.

The number of local homes that subscribe to pay-TV services began plummeting in 2013. New technologies has allowed viewers to bypass cable and satellite for more compelling content at lower prices. These cord-cutters now depend on services like Netflix, Hulu, Disney+, and Amazon Prime to fill their multiple screens.

For many years, North Carolina small business owners have been investing a significant portion of their advertising budgets into cable-TV.  The medium had proven to be a low-cost, high-reach alternative to buying commercial on over-the-air television stations. 

Now, because of cord-cutting, there are 121,000 adult consumers with unconnected TVs. This profoundly diminishes the value proposition of advertising with local cable systems.

There is a powerful and affordable solution, however, for small business owners to reach both the diminishing cable audience and the expanding number of cord-cutters.

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Topics television, small business, small business owner, fayetteville television, fayetteville small business owners, best way to advertise, effective radio advertising, radio advertising, small business marketing, pay-TV, cable television, advertise on radio, small business advertising, cord-cutters, cable-tv, satellite television, cord-nevers

Fayetteville Retailers Prepare For $46 Million Back-To-School Season

Jul 23, 2020 9:51:29 AM / by Larry Julius

Based on projections from the National Retail Federation, Fayetteville area parents are expected to spend $46 million to equip K-12 kids for the upcoming school year. If so, then this shopping spree will be 29% bigger than last year's and the biggest take since 2012.

“By any measure, this is an unprecedented year with great uncertainty, including how students will get their education this fall whether they are in kindergarten or college,” NRF President and CEO Matthew Shay says.

“Most parents don’t know whether their children will be sitting in a classroom or in front of a computer in the dining room, or a combination of the two. But they do know the value of an education and are navigating uncertainty and unknowns so that students are prepared."

Along with pencils, paper, pens, and knapsacks, the NRF survey says 63 percent of K-12 families expect to buy computers and other electronics this year, up from 54% last year, and they expect to spend more at an average $274.44, up from $203.44 last year. The $71 difference accounts for the largest share of the overall increase in average spending of almost $93.

Also, because many parents are unsure if learning will take place at school or at home, back-to-school spending this year is expected to include home furnishings such as desks, chairs, and lamps.

To claim a meaningful share of this year's booming back-to-school economy, local retailers will need to advertise to let parents know that their stores are open, it is safe to shop, and the needed supplies are in stock.

By any metric, the best way to reach these parents is on Fayetteville radio.

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Topics Retailer, millennials, retail, small business, small business owner, fayetteville small business owners, effective radio advertising, back to school, radio advertising, millennial parents, retail sales, retail stores, small business marketing, retail traffic, advertise on radio, retail store traffic, small business advertising

Drivers Hit The Road Taking Fayetteville Radio Along For The Ride

Jul 21, 2020 11:31:02 AM / by Larry Julius

Car radios came to Fayetteville in June of 1930. For just $120, about $1200 in present dollars, local drivers could install these early mobile devices into their Fords, Studebakers, Packards, and DeSotos, 

The first car radios were built by the Galvin Manufacturing Company of Chicago. They named their invention, and eventually their company, Motorola.

Today, more than 267,000 car radios fill ears of area drivers with music, news, sports, and information. As a result, local radio reaches more consumers than all other media.

In a typical pre-COVID-19 week, according to Nielsen, 95% of adult consumers would tune-in to a Fayetteville radio station. This is significantly more than were reached by local TV, cable, social media, newspaper, or streaming media sites Pandora and Spotify.

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Topics small business, small business owner, fayetteville small business owners, best way to advertise, effective radio advertising, in-car audio, in-car listening, radio advertising, small business marketing, advertise on radio, vehicle traffic, small business advertising

Advertising On Fayetteville Radio: What Consumers Want To Hear

Jul 17, 2020 8:04:28 AM / by Larry Julius

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.

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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

Recession? When Should Fayetteville Business Owners Stop Advertising?

Sep 20, 2019 6:40:00 AM / by Larry Julius

After years of robust growth, there are some signals that point to an impending economic downturn. It is a part of the American business cycle. There have actually been more recessions in the United States than presidents (47 vs. 45).

A recession is a period of declining economic performance across an entire economy, frequently measured as two consecutive quarters. In other words: it's a time when most Fayetteville small business owners sell fewer of their goods and services.

What a recession isn't is a time for Fayetteville business owners to stop advertising.

Henry Ford once said, "The man who stops advertising to save money is like the man who stops the clock to save time." There are many examples of companies that have proven this aphorism to be true.

Your breakfast cereal may be one example.

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Topics small business owner, fayetteville small business owners, best way to advertise, recession, how to advertise, advertising

Advertise In Fayetteville: Media Reach By Demographic

Sep 4, 2019 9:14:00 AM / by Larry Julius

Advertising is critical to the success of every Fayetteville small business owner.  One of the most powerful elements of any advertising campaign is how many people it reaches.

Nielsen, the world's largest consumer insights company, found that advertising reach has a more significant effect on sales than branding, recency, and context.

There are many ways a local business owner can advertise. This includes traditional media like Fayetteville radio, local TV, and newspaper. It also includes online advertising options such as Facebook, Instagram, and Pandora.

They type of customer an individual business needs to reach depends on the goods and services the company sells. For instance, a daycare operator might want to reach households with young children. On the other hand, a real estate agent could be looking for consumers in the market to purchase a new home.

The charts below reveal how the different advertising options available to Fayetteville business compare in terms of the ability to reach customers with specific characteristics. This includes age, income, education, employment status, political affiliation, number of children, ethnicity, and planned purchases.

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Topics television, sales lift, advertise in fayetteville, fayetteville consumers, fayetteville television, fayetteville small business owners, best way to advertise, facebook, instagram, advertise on social media, newspaper advertising, fayetteville observer, political advertising, online advertising

How To Reach The Bridal Market In Fayetteville

Aug 23, 2019 9:12:09 AM / by Larry Julius

Next year, according to Nielsen, 18,311 people in the Fayetteville area will be getting married.  Assuming that those folks are hitching-up with each other, that means there will be 9,156 weddings. 

USA Today reports that the average cost for these pending nuptials will be $25,265 including (but not limited to) rings, dresses, tuxedos, flowers, venues, photographers, invitations, limos, and rice (or birdseed for the ecologically inclined).

This means small business owners in Cumberland and Robeson counties who cater to the bridal market will be competing for a share of $231,326,340.

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Topics small business, radio effectiveness, small business owner, advertise in fayetteville, fayetteville radio stations, fayetteville small business owners, best way to advertise, bridal, bridal market, wedding

Fayetteville Business Owners Improve Advertising By Deleting One Word

Aug 20, 2019 12:44:04 PM / by Larry Julius

Currently, according to the Oxford English Dictionary, there are 171,476 words in the English language. A handful of these words, Fayetteville small business owners can't use in their radio commercials. The Supreme Court of the United States says so.

Of all the words that can be used in broadcast advertising, however, there is one word that should be shunned: 'get' and all of its nasty derivative forms including 'got' and 'gotten'.  Here's why.

The typical 60-second commercial on Fayetteville radio consists of 160 words.  Depending on the station, each word in that ad could cost around $1.00.  It is important, then, that each word is carefully selected to engage listeners and then compel them to action.  This is especially crucial when using verbs. 

"One of the best ways of grabbing and keeping an audience is to use strong, descriptive verbs," says the Writing Center at the University of Houston.  'Get' is not that kind of verb.

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Topics Advice, small business owner, advertise in fayetteville, fayetteville radio stations, fayetteville consumers, fayetteville small business owners, best way to advertise, effective radio commercial, advertising in fayetteville, effective radio advertising, Tips, restaurant advertising, memorable radio commercials

The Best Way To Advertise A Restaurant In Fayetteville

Aug 16, 2019 9:35:00 AM / by Larry Julius

This year, Fayetteville area consumers will spend $546 million in local restaurants and drinking establishments. There are hundreds of restaurants in Cumberland and Robeson counties hungry for a bite of that cash.

Unfortunately, many of the restaurants that are here today will be gone tomorrow. According to FSR, a trade magazine for the restaurant industry, 60% of restaurants fail within their first year. Eighty percent never make it to their fifth anniversary.

CBI Insights studies why small business owners, such as local restaurants, fail.  Reason number eight is poor marketing and advertising.  Good food and friendly service are not enough to make a cash register ring.

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Topics Advertiser Success, sales lift, small business owner, advertise in fayetteville, fayetteville radio stations, fayetteville small business owners, best way to advertise, business owners, advertising in fayetteville, social media, restaurant advertising, drinking establishment

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