Is advertising on the radio just a day job for New England small business owners?
Thousands of local companies depend on radio advertising to market their goods and services. But, most of these business owners choose to buy commercials only between 6:00 am and 7:00 pm. Is this a good idea? Maybe not. Here are the facts.
Last week, for instance, 3,543,709 adult consumers tuned-in to their favorite Boston radio stations. This is significantly higher than the number that tuned-in to a local TV station, read a local newspaper, logged-on to social media sites like Facebook, or streamed audio from Pandora and Spotify.
But radio listeners do not roll-up their ears just because the sunsets. According to Nielsen, 57.1% of Boston area consumers who listen to the radio during daylight hours, also tune in at night.
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Advertising on Boston radio stations is the best way for small business owners to reach the lucrative mother-market in New England.
Boston area consumers will spend $110.9 billion over the next 12 months. Forbes magazine reports that its these moms who control 85% of all household purchases. Locally, there are more than 691,000 mothers with children under the age of 18 at home.
New England small business owners need to pay special attention to these mothers and their wallets. Here's why:
- 45,956 moms are planning to buy a new house this year
- 56,942 moms are planning to go back to school this year
- 72,691 moms will buy a smartphone this year
- 79,617 moms will hire a plumber this year
- 80,232 moms are planning to purchase a car this year
- 81,770 will use a financial planner this year
- 85,744 moms will buy furniture or mattresses this year
- 168,261 will use a tax preparation service this year
- 186,926 moms are planning a major home improvement this year
- 582,488 moms will buy a restaurant meal this month
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social media advertising,
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working mothers,
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advertise to mothers,
market to parents
It's a fact. Unless a consumer remembers your business when it comes time to buy, then it is likely they will purchase from someone else. Staying top of mind, therefore, is critical for every Boston area small business owner who wants to grab a share of the area's $100.9-billion retail market.
Advertising on Boston radio provides New England business owners with the most affordable way to move to the top of customers' minds. But, before discussing how to get remembered, we must understand why consumers forget.
Every second, all of us are exposed to 11,000,000 pieces of data. A consumer's brain, however, is only capable of dealing with about 50 pieces of this data at a time. So, if my calculus is correct, a consumer forgets approximately 10,999,950 things every second.
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small business marketing,
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frequency,
memory curve
New England area small business owners need employees...desperately.
According to a report from the National Federation of Independent Business, 26% of small business owners say finding qualified workers is their number one problem.
The report goes on to say that 88% of small business owners looking to hire new employees are finding there are no qualified candidates.
The historically low unemployment figures in the Boston area appears to be the root cause of local hiring woes. The metro area jobless rate stands at 2.1%. There are just not enough qualified workers to go around.
Most small business owners have exhausted the traditional methods of recruitment. These include online job board posts, newspaper ads, referral bonuses, and help wanted signs. All to no avail.
To successfully attract the qualified applicants they yearn for, local small business owners need to command the attention of 'passive' job seekers. The number one source for these candidates is Boston radio.
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social media advertising,
television advertising,
small business,
digital advertising,
job boards,
recruitment advertising,
employment advertising
Suppose a Boston small business owner woke up one morning and found a 100-year-old machine in the basement of their store. She soon discovered that every time a dime was put into the machine, one dollar came out. Imagine, now, how profitable that business would become.
Good news: such a contraption exists, and every business owner probably has one in their cars, in their stores, in their homes, even on their phones. It's called the radio.
Over the past few years, Nielsen has conducted more than 20 studies to determine what type of return-on-investment (ROI) a business owner can expect from radio advertising. Although the results varied by industry, the average company generated $100 in sales for every $10 invested. Turning dimes into dollars.
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Advertising is critical to the success of every New England 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 Boston 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.
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best way to advertise,
newspaper advertising,
reach,
radio advertising,
advertising reach,
consumer spending,
small business owner,
small business marketing,
online advertising,
social media advertising,
television advertising,
digital advertising,
small business advertising
Boston area small business owners have depended on radio advertising to market their goods and services since the first New England radio station, WBZ, began broadcasting in 1921.
Today, thousand of local companies still invent in radio advertising. Partly, because it reaches 3,543,709 consumers every week, significantly more than any other medium. But, also because commercials on Boston radio are effective.
Meet five New England business area business owners are currently advertising on Boston radio to capture a larger share of the $100-billion local consumers spend every year.
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radio advertising,
small business owner,
small business marketing,
small business,
small business advertising
"We advertise on Boston radio because it brings in new customers," says Elizabeth Russell-Skehan, VP of Marketing at Russell's Garden Center. "We like radio advertising because the commercials provide us with enough time to explain all of the products and services we offer."
Russell's, located just off of Route 20 in Wayland, MA., is set on a 55-acre farm, seven of which are open for retail 360 days per year. Half of what the garden center sells are plants including, annuals, perennials, and shrubs.
The other half of their sales come from hardgoods including, garden supplies, tools, seeds, specialty gifts, and toys.
At Christmas time, Russell's sells 3000 Christmas trees. The company is also a full-service florist providing flowers for weddings, proms, bar mitzvahs, and other celebrations.
"New customers tell us all the time that they learned about what we do from our radio advertising."
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social media advertising,
television advertising,
small business,
advertise on radio,
garden center,
recreational gardeners
For New England small business owners who depend on Valentine's Day to spike first-quarter sales, this year could prove to be a battle as the decline in celebrants is expected to continue.
Based on estimates from the National Retail Federation, 2.4 million Boston area consumers will be participating in the holiday this year. This is 20% fewer than ten years ago.
There is good news, however, for local business owners. Although there are will be fewer customers, local Valentine's Day spending is expected to grow to $388-million. This is 28% higher than a decade ago.
So, how does a New England retailer or restaurant win the battle for the hearts and wallets of romantic consumers? Advertising is a necessary weapon to win this war.
No weapon is as potent as advertising on Boston radio.
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best way to advertise,
newspaper advertising,
radio advertising,
consumer spending,
small business owner,
social media advertising,
television advertising,
small business,
facebook advertising,
pandora,
spotify,
valentine's day
By April 15th next year, 1.9 million residents in the Boston area will file a tax return. More than 53% of these returns will be completed by the taxpayer themselves, either by hand or with the help of an online provider like Turbotax.
Every season, New England small business owners who specialize in tax preparation services lose customers to the do-it-yourself options. This year, 916,000 local consumers will spend $176,000,000 with tax professionals. But, based on the average cost of services, more than $202,000,000 will stay in the wallets of the DIY crowd.
To clawback this enormous amount of money from the DIY market, local tax preparers will need to advertise the valuable benefits of using a professional.
The best advertising option for tax professionals is on Boston radio stations. Here's why:
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Topics
newspaper advertising,
radio advertising,
consumer spending,
small business owner,
social media advertising,
television advertising,
small business,
facebook advertising,
pandora,
spotify,
tax preparation,
financial professionals