There is positive news for the 230,000 small businesses in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro area. A majority of consumers say they are ready to start shopping again.
A lifestyle survey just released from Nielsen indicates 53% of Americans believe that despite the continuing pandemic, life is beginning to normalize, and they are likely to resume typical activities. Nielsen refers to this majority as "Ready-To-Go".
According to the survey, Ready-To-Go consumers now perceive less risk, feel safer, and believe their cities are emerging from crisis.
The key takeaway for Delaware Valley small business owners is that Ready-To-Go consumers are significantly more likely to start shopping within 30 days than the total population. These buyers, according to Nielsen, are looking to spend on home improvement, professional services, auto parts/repair, shopping, food & dining, and travel.
To capture a meaningful share of the money Ready-To-Go consumers will be spending requires local small business owners to advertise. By almost every metric, advertising on Philadelphia radio is the best advertising option.
Every week, Philadelphia radio reaches substantially more adult consumers than all other advertising media available to local business owners.
In a study of advertising effectiveness, Nielsen discovered the elements of a 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.
Furthermore, Nielsen research indicates that radio's most loyal listeners are far more likely to participate in the following activities than the general population.
- Go To A Movie: 57% more likely
- Book A Vacation: 53% more likely
- Make A Major Purchase: 48% more likely
- Visit A Car Dealership: 45% more likely
- Go To Bars: 41% more likely
- Go To A Gym: 25% more likely
- Visit Coffee Shop: 19% more likely
- Shop for Clothes: 10% more likely
Finally, of all media available to local business owners, radio has proven to deliver the strongest return-on-investment.
A study released last week conducted by Nielsen for CUMULUS | Westwood One indicated that a radio advertising investment between April 30 and May 27 this year delivered a 28-time ROI for a major retailer. In other words, the advertiser earned a $28,000 increase in sales for every $1000 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.
AdAge, a trade magazine for advertising professionals, calls these types of return "eye-popping". The magazine goes on to say radio's ROI is superior to commercials on TV, online, and social media.
More Advertising Advice For Philadelphia Small Business Owners
- Advertising ROI In Philadelphia: Television vs. Radio
- AVOD: 4 Letters Every Philadelphia Small Business Owners Should Know
- Advertising On Philadelphia Radio Is Back In The Driver's Seat
- Philadelphia Retail Sales Are Growing. Is It Time To Advertise?
- Newspaper Advertising In Philadelphia: Advice For Small Business
