There are 8,690 small businesses in the Fayetteville, NC, Metro Area, according to the U.S. Census Bureau. Almost every one of these businesses is competing for a portion of the $24.8 billion of local retail spending expected to occur in 2023.*

To capture the largest share of this giant pool of consumer cash, Fayetteville small business owners will need to consider advertising.

"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. Advertising, if done correctly, can do wonders for your sales., and you know what that means: more revenue and more success for your company."

One of the best ways to advertise in Fayetteville may be on local radio, a fact not lost on the world's largest advertiser, Proctor & Gamble. Last year, P&G upped spending on the radio by 43% to $235 million, according to Vivvix (formerly Kantar Media), led by a big jump in local radio.

Fayetteville, North Carolina area business owners have an abundance of options for marketing their goods and services to local consumers. New research from Nielsen, however, indicates that advertising on Fayetteville radio is still the best way to reach local shoppers.

Every week, according to Nielsen, Fayetteville radio reaches 282,794 adults. This is significantly more than are reached by social media, local TV stations and cable systems, newspapers, streaming video and audio, and podcasts.

In addition to listening to their favorite Fayetteville radio stations over the air, Nielsen reports that 73,320 adults also listen to local stations online every month.

As a matter of fact, according to a study conducted by Edison Research during the third quarter of 2022, among Adults 25-54, 17% of all time spent listening to local AM/FM stations occurs online. This share of online listening has nearly doubled since 2016.

North Carolina business owners have depended on Fayetteville radio to market their goods and services since WFNC, the city's first radio station, went on air in 1939. Despite the advent of new media and technologies since then, advertising on local radio stations is still the best way for the area's 8,690 small business owners to create and maintain customers.

Here are five facts every business owner should know about advertising on Fayetteville radio in 2022.

In 2020, there were 17,494 new cars and trucks registered in the Fayetteville metro area. This number is based on projections from the National Auto Dealers Associaton (NADA) and the U.S. Census bureau.

In all, says NADA, there are 249 new-car dealerships in North Carolina. Despite the pandemic, these dealers, including those in the Fayetteville area, sold $20.1 billion worth of new vehicles.

Through June of this year, these same dealers have already rung up $17 billion in new car sales.

When it comes to buying new vehicles, Fayetteville consumers have a broad range of preferences. Some buyers want Fords while others want Chevrolets, Toyotas, or Teslas.  Some buyers want pick-up trucks, while others want sub-compacts, SUVs, or sports cars. Of course, some want blue vehicles, while others want pearl white, orchard green, or redolent red.

There is one purchase criterion, however, that most Fayetteville car buyers can agree on. They want an AM/FM radio smack-dab, in the middle of their dash.

According to Nielsen, 67,389 Fayetteville, North Carolina consumers listened to or downloaded a podcast during the past 30 days. This is 19.2% of the adult population.

A podcast is a downloadable digital audio file available to listeners on an internet-connected device like a smartphone, tablet, or computer. These files are typically part of series focusing on a particular theme such as true crime, professional football, politics, or pop culture.

Fayetteville consumers can listen to their favorite podcasts whenever they choose using apps like Spotify, Pandora, Google, and Stitcher. The most used podcasting app, though, is Apple Podcasts.

Research from PodcastHosing.org indicates that Fayetteville consumers can access more than 2,000,000 podcast series comprising over 48,000,000 unique episodes. According to data compiled by Edison research, the top 10 podcasts during the second quarter of 2021 were:

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.

Almost 81,000 adult, Fayetteville consumers belong to a fitness club. These memberships bring in close to $150 million in sales to local gym owners.

January is critical for the small business owners that operate gyms in the Fayetteville area. According to the International Health, Racquet, and Sportsclub Association, this one month alone, accounts for 10.8% of annual membership sales. New Year's resolutions are the reason for this early year spike.

To capture a larger share of the $16.1 million local consumers  will spend on gym memberships in January, requires fitness center owners to advertise. The best way to do this is on Fayetteville radio. Here's why.

The first Baby Boomers were born in Fayetteville in 1946, and they kept coming until 1964.  Today, this generation represents 22.9% of the population.

According to Visa, however, when it comes to the ability to buy goods and services from local business owners, people 50 and older are responsible for 56% of all retail spending.  In Fayetteville, that equates to $4.8-billion.

Forecasts from the Bureau of Labor Statistics indicate the spending power of the Baby Boomer generation will remain dominant through at least 2025. This is fueled, in part, by the Boomers' continued participation in the labor force.

Advertising is critical to the growth and ultimate success of a Fayetteville small business. The U.S. Small Business Administration recommends that mature businesses should budget 7-8% of its annual income for advertising the company's goods and services. 

Businesses who are in their early growth phase, however, should plan on investing 10-12%.  Start-up companies that may not yet be familiar to their target consumers should consider investing even a larger percentage.

Deloitte, the world's largest business consulting firm, recommends that "radio advertising should be a big part of the mix for those buying advertising."