There are over 362,000 consumers in the Central Savannah River who own their own home. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for CSRA homeowners to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Augsuta Georigia, more than 855,000 results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By, any key metric, advertising on local radio is the best way to reach area homeowners.

Small business owners have been advertising on Augusta radio since the first station, WRDW, went on the air in 1930.  By almost every metric, the medium remains the best way to successfully market goods and services to local consumers.

Before  Central Savannah River Area businesses finalize their marketing plans for this year, here are five facts they should know about radio advertising.

Advertising is critical to the success of every Central Savannah Rivera Area 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 Augusta 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.

The buying power of Black consumers in the Central Savannah River Area is now $4.8 billion. Over the past 19 years, according to Nielsen, the pace of spending by African Americans has grown 28% faster than by White consumers.

If a CSRA area small business owner would like to earn a larger share of this spending, the best place to start is with advertising.

"For African American consumers, advertising of all types is an important touchpoint in their shopping journey," says a recent study by Nielsen. "African American consumers are more likely than the total population to agree that advertising provides them with meaningful information about the product use of other consumers."

"African Americans are avid media consumers, across multiple media channels, which gives advertisers ample opportunities to connect with them."

The best advertising medium, though, for small business owners to reach the CSRA's African American consumers is local radio.