To slow the spread of COVID-19, the Governor of Pennsylvania shut down all but the most essential businesses in the state on March 17. This public safety measure inflicted a severe disruption to the Philadelphia area's $91.8 billion retail economy.
As local small business owners prepare for reopening, each must concentrate on supercharging their cash flows to compensate for many weeks of consumer abstinence. Turning the lights back on and hanging out a welcome sign might not be enough, though, to bring even the most loyal customers back.
Some customers may not return because of personal safety concerns. Other customers may have discovered alternative sources to purchase goods and services.
But, there is one thing every Delaware Valley small business owner can be assured of. Consumers will not return if they aren't aware that a business has reopened.
Advertising is a potent tactic for any Pennsylvania or New Jersey small business that needs to reintroduce itself to local consumers.
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."
By almost any metric, advertising on Philadelphia radio is the most effective medium for small business owners to reach local consumers.
Before the onset of COVID-19, Philadelphia radio reached significantly more consumers every week than local TV, Pay-TV, newspapers, social media, or streaming audio sites like Pandora or Spotify.
Research from Nielsen indicates that during the current COVID-19 crisis listening to local radio remains little changed.
For instance, in March, local radio achieved 96% of the same audience as it did in February, before the start of the chaos. This trend has continued through May as well. Consumers still report they are listening to the same amount or more radio than before the pandemic.
In addition to reach, a new study by Nielsen indicates that loyal radio listeners will be spending money more quickly once COVID-19 business restrictions are eased.
For instance, among consumers who postponed the purchase or lease of a vehicle because of the Corona chaos, 32% of loyal listeners say they intend to complete the purchase within 12 months. This is 39% higher than the general population and 88% more likely than loyal TV viewers.
Among consumers who postponed the purchase of a new house because of the pandemic, 11% of loyal radio listeners say they, too, intend to complete the purchase within 12 months. This is 22% more likely than the general population and 57% more likely than loyal TV viewers.
In addition to cars and houses, loyal radio listeners are planning to spend more money than they are now in almost every retail category.
For instance, within 60 days of business restrictions easing, compared to all consumers, loyal radio listeners are
- 6% more likely to spend more money on takeout food
- 7% more likely to spend more money on in-restaurant dining
- 14% more likely to spend more money in convenience stores
- 19% more likely to spend more money on auto repairs
- 21% more likely to spend more money on lawn and landscape
- 29% more likely to spend more money on hardware
- 32% more likely to spend more money at liquor stores
- 50% more likely to spend more money on furniture
- 55% more likely to spend more money on home improvement
In 1922, three local retailers each put a Philadelphia radio station on the air. These included John Wanamaker's WOO, Strawbridge & Clothier's WFI, and Gimbel Brothers' WIP.
Since then, small business owners have depended on radio advertising to market their goods and services successfully. Radio has helped these businesses survive recessions, depressions, world wars, hurricanes, and blizzards.
Based on the metrics above, advertising on Philadelphia radio will help local business owners overcome the current chaos as well.
More Advertising Advice For Delaware Valley Small Business Owners
- Should Your Philadelphia Small Business Continue To Advertise?
- Does Cable TV Advertising Make Sense For Philadelphia Small Businesses?
- How To Bring Employees Back To Your Philadelphia Small Business
- Philly Small Business Advice: Facebook Advertising During Pandemic
- Reclaim 'Top Of Mind' When Your Philadelphia Small Business Re-Opens
- Who Do Philadelphia Consumers Trust During A Crisis?
- Web Traffic Is Soaring For Philadelphia Small Business Owners
- Who Listens To Commercials On Philadelphia Radio?