Central Savannah River Area small business owners may perceive the continuation of advertising as a luxury right now. This is especially so when compared to the necessity for covering the costs of utilities, inventory, payroll, and rent.

Before pulling the plug, though, business owners from Aiken to Evans must consider the consequences of 'going dark', a marketing term which means to stop advertising.

"According to our analysis, short-term decisions to go dark create significant risk for long-term revenue," says Ameneh Atai, Senior Vice President of Commercial Strategy at Nielsen. "This affects both incremental revenue and base sales."

"Our database of long-term effects models suggests that cutting ad spending for the rest of 2020 could lead up-to 11% revenue decrease in 2021," says Ms. Atai. "It could take three to five years of solid and consistent brand building to recover from an extended dark period of media."

"We have a ton of evidence in our historical analysis," adds Nielsen's Tsvetan Tsvetkov, Senior Vice President of Agency and Advertiser Solutions. "Companies that step away from advertising efforts for a period of time, whether it's a couple of quarters or a full year or longer lose the momentum they have built over time the minute they stop. To recover takes a long, long time."

To avoid the economic risks of going dark, local small business owners need to make sure every dollar spent on advertising produces solid returns.  By most marketing metrics, advertising on Augusta radio could prove to be the best option.

To slow the spread of COVID-19, the Governors of Georgia and South Carolina shut down all but the most essential businesses in their states in early April. This public safety measure inflicted a severe disruption to the Central Savannah River Area's $8.6 billion retail economy.

As local small business owners begin to reopen, each must concentrate on supercharging their cash flows to compensate for nearly 50 days 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 Augusta area 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 CSRA small business that needs to reintroduce itself to local consumers.

“Think you have a great product?” asks the U.S. Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”

In a typical week, 412,000 adult consumers tune-in to Augusta radio stations.  But, since the onset of the Coronavirus, the weeks have not been typical.

Before social-distancing and work-from-home orders, 221,000 Central Savannah Area consumers would drive to-and-from work each day. More than 94% of these commuters could be reached by radio.  

CSRA small business owners who depend on radio advertising to market their goods and services, therefore, might be concerned that the disruption in commuting patterns could depress the amount of time consumers spend with local radio.

According to market research, however, radio listening remains an important part of the daily life of consumers. Even amid the current chaos.

Central Savannah River Area small business owners are fighting the coronavirus battles on multiple fronts.  Their first objective is to keep their families and employees safe. Then, of course, there are the concerns of keeping their businesses healthy enough to survive current disruptions.

The business literature has an abundance of case studies showing how survival is often connected to a thoughtful communications and marketing strategy during challenging times.  

Business owners need to let CSRA consumers know if they are still open. If their hours have changed. Or if they are providing alternative shopping methods (e.g., delivery, curbside pick-up).

Most importantly, it is imperative consumers know that a business will still be there for them when the crisis is over.

For those owners who are depending on communication to preserve their business, the best option may be to advertise on Augusta radio.

The top concern of every Central Savannah River Area small business owner is the health and safety of their families and employees.  Local information and breaking news regarding the Coronavirus is available by clicking here.

Of course, a secondary concern is tending to the health of their business amid an overabundance of social and financial disruptions. 

There is one prescription that helped many CSRA businesses survive the Great Depression of 1929, the economic crash of 2009, and every recession in between.  The Rx for keeping a business healthy during chaotic times is to continue advertising.

The best example of how advertising cand fend off tough times was shared by The New Yorker magazine financial columnist James Surowiecki.

Central Savannah River Area retailers spend a considerable amount of time and money marketing their small businesses on social media.  Is this effort paying off?

Each month, an estimated 348,000 CSRA adults use Facebook, Instagram, or Twitter. This equates to 78% of consumers.  This reach is rather anemic compared to Augusta radio and TV, which attracts considerably more users in a single week than these social media platforms do over 30 days.

Among local millennials, the monthly reach of Facebook, Instagram, and Twitter is eclipsed by the weekly reach of Augusta radio.

The number of consumers reached by an advertising campaign, according to Nielsen, is the media consideration that has the most significant effect on increasing sales. 

Central Savannah River Area consumers spent more than $9.3 billion with retailers last year. The National Retail Federation forecasts 4.1% more will be spent this year.

Who are the shoppers that will be spending all this money?

According to Nielsen, 46.7% of retail dollars are spent by Augusta area consumers over the age of 50. This may surprise many small business owners because older consumers comprise only 36.9% of the area's adult population.

These older consumers account for a substantial share of spending in almost every retail category. This includes furniture, cars, pet supplies, fast food, and electronics.

To earn a share of these massive dollars spent by these older consumers requires CSRA small business owners to advertise.

Retailers in the Central Savannah River Area rang-up $9,337,776,000 in retail sales last year, according to Nielsen. But wait. It's about to get better.

The National Retail Federation forecasts that in 2020, sales will increase by as much as 4.1%. This will create another $383 million for local small business owners.  

“The economy is growing at a more modest pace, but the underlying economic fundamentals remain in place and are positive,” stated NRF chief economist Jack Kleinhenz. “Consumers remain upbeat and have the confidence to spend, and the steady wage growth that has come with the strong job market is fueling their spending. The state of the consumer is very healthy.

To claim a fair share of this enlarged pool of spending will require CSRA small business owners to advertise.

“Think you have a great product?” asks the U.S. Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”  

Ask any Central Savannah River Area small business owner how to measure the success of an advertising campaign. The answer will almost always 'sales.'

According to Nielsen research, the media-element of a campaign that has the most significant effect on sales is reach. This is the number of different people exposed to the advertiser's message.

There are more ways than ever to advertise. But, which of those options has the largest reach among CSRA consumers?

Doug Schoen, an advertising professional with 35 years of experience, writes in Forbes: "You wouldn’t know it from all the media coverage focused on streaming video and streaming music, but radio actually has the most reach among American media consumers. 93% of adults listen to the radio each week as compared to 87% who watch TV, a substantive difference."

By April 15th next year, 204,541 residents of the Central Savannah River 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, CSRA small business owners who specialize in tax preparation services lose customers to the do-it-yourself options.  This year, 935,316 local consumers will spend $18,300,000 with professionals. But, based on the average cost of services, more than $21,000,000 will stay in the wallets of the DIY crowd.

To clawback this enormous amount of money from the DIY market, CSRA tax services will need to advertise the valuable benefits of using a professional.

The best advertising option for professional tax professionals is on Augusta radio stations. Here's why.

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 Central Savannah River Area small business owner who wants to grab a share of the area's $9.3-billion retail market.

Advertising on Augusta radio provides local 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, local consumers 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.

Central Savannah River Areas shoppers are expected to spend $1.3 billion this holiday season.  This will be approximately 4% higher than last year. These estimates are based on forecasts by the National Retail Federation and Deloitte.

To claim a fair share of the Christmas cash, local small business owners will need to battle some giant competitors. Advertising on Augusta radio stations may be the perfect weapon to ensure success.

According to information published in the retail trade magazine Chain Store Age, as of right now, here is where consumers are planning to shop...

Central Savannah River Area small businesses that sell products or services to pet owners should sit up and take notice.  Local consumers will spend $126.6 million this year on behalf of Fido and Fluffy. This amount has increased 323% since 1994, with no sign of letting up.

According to the American Pet Products Association, here's how local spending on furry companions breaks down:

• Food: $51,896,000
• Supplies/OTC Medicine: $27,846,000
• Vet Care: $31,644,000
• Live Pet Purchases: $3,797,000
• Other Services: $11,391,000

The biggest month for sales of pet-related products and services in the Augusta area is, by far, December. That is when 10.5% of all annual spending happens in this category.

In 1930, the Galvin Manufacturing Corporation put the first car radio on the market. They called it the Motorola. This in-car entertainment would have setback a Central Savannah River Area consumer about $120. That would be equivalent to $1300 today.

But, if you had that kind of cash back then, you would be able to cruise around in your Ford Model-A, DeSoto, Packard, or Studebaker and hear the music of the day from radio stations in Charlotte, Raleigh, and Atlanta.

Today, there's a radio in almost every vehicle on the streets of the CSRA. Despite the competition on the dashboard from other sources of entertainment, AM/FM radio remains the dominant choice among consumers for in-car entertainment.  This is great news for local business owners who depend on Augusta radio to market their goods and services.

The first radio station in the Central Savannah River Area, WRDW, went on-the-air in 1930.  Seventy-four years later, Facebook inaugurated the social media era.  Twitter, Instagram, YouTube, Snapchat, Pinterest, LinkedIn, and hundreds of other sites quickly followed.

As social media matured from a novelty to part of consumers' daily rituals, some CSRA small business owners began to experiment with advertising.

By every key advertising metric, though, Augusta radio remains the best choice for a small business to market their goods and services. Here's why.

Central Savannah River Area consumers are expected to spend $9.3 billion at retail this year, according to Nielsen. This means that every household, on average, will be paying out $41,705.

To capture a larger share of these dollars, local small business owners need to know the answer to two questions.

The first question is, where is this enormous amount of cash being spent?  The list below details the answer.

Central Savannah River Area consumers are expected to spend $1.3 billion on this year's holiday shopping, based on predictions by The National Retail Federation.  This would be a 4% increase over last year.

Deloitte, one of the world's top four accounting firms, forecasts similar growth.

"The projected holiday season growth is, in part, due to the current health of the labor market,” said Daniel Bachman, Deloitte's U.S. economic forecaster. “Near record-low unemployment rates, coupled with continued monthly job creation, may encourage people to spend more during the holiday season. The economy is still growing, albeit at a slower rate. Additionally, we continue to see consumer confidence elevated, which also helps boost holiday spending."

For most CSRA retailers, holiday spending brings in about 20% of annual sales But, long gone are the days when the bulk of this shopping occurred between Black Friday and Christmas.

Last week, according to Nielsen, 94,966  single, adult women tuned-in to an Augusta, GA radio station.  This is 89% of every consumer who fits this description.

Why should Central Savannah River Area small business owners take note of this demographic? A study by investment bank Morgan Stanley finds 41% of working-age women are single. That number is expected to increase to 45% over the next ten years.

The study, called 'Growth of the SHEconomy', indicates that single women outspend the average household in many retail categories. Remarkably, says, Erica Sweeney of MarketingDive, "Women purchase more than half of products traditionally considered 'male' including autos, home improvement products, and consumer electronics."

In American history, there have been more recessions than presidents, 47 vs. 45.  Many economists believe number 48 is impending. 

The textbook definition of a recession is a period of declining economic performance across an entire economy, frequently measured as two consecutive quarters. In other words: it's a time when most Central Savannah River Area small business owners sell fewer of their goods and services.

There is one thing a recession is not.  It is not a time for Augusta area small business owners to stop advertising.

One of the greatest marketers of all time, Henry Ford, once said, "The man who stops advertising to save money is like the man who stops the clock to save time."

There are many examples of companies that have proven this aphorism to be true. Your bowl of cereal this morning could be one example.

Based on information from the National Retail Foundation, Central Savannah River Area consumers will be spending $13.4 million on Halloween this year. 

Typically, 80% of all Halloween shopping, according to the NRF, will occur between now and October 16.  The remaining dollars will be spent in the last 14 days leading up to the holiday.

Nearly 53% of consumers in the CSRA are expected to participate in Halloween this year, each spending, on average, about $86.  This money will go towards the purchase of candy, decorations, costumes, pumpkins, and greeting cards.

Almost every type of local small business enjoys a taste of this spending. This includes hardware stores, convenience stores, craft stores, fabric stores, thrift stores, florists, card stores, consignment shops, haunted houses, home decor store, bakeries, and, of course, candy stores.

To claim a significant share of this Halloween cash will require local small business owners to advertise.  The key to successful advertising is reaching as many Halloween shoppers as possible over the next four weeks.