The US Small Business Administration (SBA) advises that every Maine small business engage in advertising.
"Think you have a great product?" asks the SBA. "Unfortunately, no one's going to know about it unless you advertise." 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",
Advertising options for business owners in southern Maine are abundant. There's local TV; local newspapers; local magazines; and a bazillion (that's bazillion with a "b") online options. Recent research, however, concludes that the best option is advertising on Portland radio.
Here are the facts.
According to Nielsen, a company that researches both the purchasing and media habits of consumers, almost every consumer living in southern Maine tuned-into Portland radio station last week. This includes Gen X, Gen Y, Gen Z, and Baby Boomers.
According to Nielsen, the reach of Portland radio eclipses all other advertising options for Maine business owners. This is how other advertising media compared to the 691,336 consumers who tuned-in to a local radio station:
Nielsen also reports, Portland radio reaches 67% of listeners either in their car or at work. This means Maine small business can put their advertising message into the ears, minds, and hearts of consumers when they have the most access to the point of purchase.
Perhaps the most compelling reason Maine small business owners need to consider advertising on Portland radio is the medium's return on investment
Over the past few years, Nielsen has done more than 20 studies to determine what type of return a business owner could expect for every $1.00 invested in radio advertising. In every, case, radio advertising's return-on-investment, was, according to Ad Age, "Eye-popping."
The most recent ROI study by Nielsen is no exception. According to Westwood One, the company that commissioned this latest study, a radio campaign for a men's personal-care brand produced $11.96 in sales-lift for every $1.00 invested in radio advertising. Wow!
"To determine sales lift," says Pierre Bouvard of Westwood One, "Nielsen Catalina Solutions matches Portable People Meter panel data and shopper card data from NCS and Nielsen Homescan. This creates a household match of actual AM/FM radio listening and their purchase habits.
Mr. Bouvard also noted, radio advertising's overall effect on the brand's sales. "Households where men were exposed to the AM/FM radio campaign saw an 8% lift in sales for the parent brand. The growth in sales was driven by more spending per trip."
According to Nielsen, among all of the studies conducted, radio ads produce a very impressive 6 time ROI. According to Ad Age, these findings indicate that advertisers can expect higher returns-on investment from radio than TV, digital, or social media.
RADIO ADVERTISING ROI BY BRAND CATEGORY
Portland Radio Second To None
Many Maine business owners who use their cash registers to measure their own ROI support the findings of Nielsen.
Case in point. Scott Libby, owner of Royal River Heat Pumps in Freeport, credits his radio advertising campaign and its catchy jingle with doubling his sales in just one year. "When it comes to reach," says Mr. Libby, "radio is second to none."
Dr. Nicholas K. Roy, owner of Saco River Dentistry, reports a similar success. Dr. Roy credits his radio advertising with contributing to a 426% increase in new patients this year versus last year.
"When people come to the dentist," says Dr. Roy, "they want to know who they are seeing. They want to feel the energy of the person. They have to trust that person."
"Radio", he points out, "is the only way to get that message across."
More Advice For Maine Small Business Owners
- Maine Business Owners Speak For Themselves In Ads On Portland Radio
- Maine Restaurant Owners Reach Hungry Consumers On Portland Radio
- Maine Small Business: Using Portland Radio To Reach Millennials
- Portland Radio: Best Way To Reach Likely Maine Voters
- What Maine Small Business Owners Need To Know About TV Advertising