There are 108,364 millennials in the Fayetteville, North Carolina area. The oldest of them turn 40 this year. According to The Pew Research Center, millennials comprise the generation of Americans born between 1981 and 1996.
As a consumer group, millennials account for an outsized percentage of retail spending. This generation represents 31% of the Fayetteville area population but almost one-third of metro-area sales.
All in, Fayetteville millennials are expected to ring up more than $2.9 billion in purchases during 2021. You name it, millennials are planning to buy it.
According to Nielsen, over the next 12 months, Fayetteville millennials will show up in huge numbers at auto dealerships, furniture stores, mattress stores, appliance stores, home improvement stores, and scores of other area retailers and service providers.
To earn a meaningful share of millennial spending, Fayetteville area retailers and small business owners will need to advertise.
“Think you have a great product?” asks the US Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”
“Advertising, if done correctly," says the SBA, "can do wonders for your product sales, and you know what that means: more revenue and more success for your business.”
Every week, according to Nielsen, Fayetteville radio reaches nearly 80% of all millennials. This is remarkably more than watch local TV, cable, or streaming video. It's more than use social media sites like Facebook and Instagram. It's more than listen to streaming audio from Pandora and Spotify.
The number of different Fayetteville consumers reached by an advertising campaign is crucial to success.
A study, Nielsen discovered the elements of an advertising campaign that had the most potent effect on purchase behavior. The results indicate that reach (the number of different consumers exposed to a campaign) was responsible for driving more sales for the advertiser than branding, recency, context, or targeting. Only the message itself (creative) was more potent.
In addition to superior reach, advertising on Fayetteville radio also delivers an extraordinary return-on-investment.
Between April 30 and May 27 of last year, Nielsen analyzed the sales results of a retailer who conducted an advertising campaign during that period using both radio and TV.*
The bottom line of this study: Radio advertising produced a $28,000 increase in sales for every $1000 the retailer spent.
These findings confirm 21 previous studies by Nielsen, which demonstrate that, on average, radio advertising returns $10,000 in advertising for every $1000 invested. The chart below shows the range of returns from each study.
Fayetteville millennials defy the stereotypes foisted upon their generation. They are, in fact, hardworking homeowners with families and jobs. But most importantly, these 25-40-year-olds are shaping Fayetteville's retail economy.
More Advertising Advice For Fayetteville Small Business Owners
- Who Listens To Fayetteville Radio?
- How Much Do Fayetteville Business Owners Spend on Advertising?
- Why Audio Advertising In Fayetteville Drives Purchase Decisions
- Consumers Stick With Fayetteville Radio Despite Pandemic
- OTT & CTV: Who Watches Streaming Video In Fayetteville?