Now is a crucial time for Fayetteville small business owners to advertise.  

According to the Conference Board, consumer confidence has surged to 110, the highest it has been since the onset of the pandemic last March.  The index has bounced back from a low of 89.6 in February. 

Moving forward, North Carolina business owners can expect buyer optimism to remind high.

“The recovery in consumer confidence is set to continue in the coming months, buoyed by the combination of improving health conditions and wider vaccine distribution,” said Lydia Boussour, lead U.S. economist at Oxford Economics. “This should support hearty consumer spending and pave the way for a mini-boom in economic activity this spring and summer.”

As Fayetteville consumers gain confidence, they are expected to unleash the record $1.7-billion in personal savings amassed during the pandemic. This number is based on figures reported by Barron's in November. 

This combination of consumer confidence and the cache of cash-on-hand has led the National Retail Federation (NRF) to forecast a 7% increase in retail spending in 2021 versus last year.

To claim a significant share of the expected spending tsunami, Fayetteville business owners plan to boost advertising investments this year.

According to Borrell Associates, a company that tracks advertising trends across the country, Fayetteville business owners are expected to spend $123-million to advertise the goods and services they sell. This represents a 5.0% increase versus last year.

Fayetteville consumers are expected to buy $8.1 billion worth of local goods and services over the next 12 months. To claim the largest share of those dollars requires small business owners to advertise.

“Think you have a great product?” asks the 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."

According to the eBook Seven Steps for Success, "There are many ways for small business owners to advertise. Options include local newspapers, local magazines, local television, and online."

"But to achieve the “3-Rs” of advertising success, Reach, Recall, and Return, no other medium delivers results as effectively and efficiently as advertising on Fayetteville radio."

For budget-conscious small business owners, there are three tactics that can be employed to make sure every advertising dollar spent on Fayetteville radio stations works as hard as possible.