Tampa Bay area small business owners have an abundance of options for advertising their goods and services. Choices include local TV, local cable, social media, streaming video, streaming audio, podcasts, and newspapers.
The best way to advertise in Tampa Bay, however, is local radio.
Every week, according to Neilsen, 2.2 million adults tune-in to their favorite Tampa Bay radio stations. This is significantly more than any other advertising medium.
In addition to the adults who listen to Tampa Bay radio over-the-air, an incremental 93,926 adults connect to their favorite stations online as well using their phones, computers, and tablets. In all, according to Nielsen, 29.2% of all Tampa Bay radio listeners listen both online and offline.
According to data from Edison Research, during the second quarter of 2022, at any given time, 16% of a radio station's Adult 25-54 audience is listening online. This percentage has more than doubled since 2017.
According to a Nielsen study, after the actual content of the commercial message itself, reach is the most potent advertising element that can drive sales. Reach is more important than brand, recency, or even context. Tampa Bay radio provides local business owners with the most significant reach among consumers.
Radio's unrivaled reach among adult consumers contributes to the medium's ability to deliver an extraordinary return on investment (ROI) for advertisers.
From April through July of 2021, Neilsen measured the sales results of a radio advertising campaign conducted by a major retailer. The study utilized portable people meter technology to segment consumers into two discrete categories: those who were exposed to the retailer's advertising campaign and those who were not.
Nielsen was then able to match the consumers in each segment to their credit/debit or shopper card purchase behavior. Consequently, the study measured decisively how sales were affected by the retailer's advertising campaign.
Here are the key takeaways from the Neilsen study:
- One or two exposures to the radio campaign resulted in a 22.4% increase in the number of shoppers
- Three to six exposures to the radio campaign resulted in a 7.6% increase in the number of shoppers
- Exposure to the radio campaign increased the number of transactions among the retailer's existing customers by 11%
- Exposure to the radio campaign increased the number of transactions by the etailer's most active customers by 31.2%
- Exposure to the retailer's radio campaign generated a sales increase of 9.7%
Most importantly, the Nielsen study revealed that every $1000 that the retailer invested in the radio advertising campaign returned $13,000 in sales. A 13-time ROI.
Tampa Bay business owners should know that these findings support 22 other Nielsen studies that indicate, on average, that advertising on local radio delivers a 10-time return on investment.
AdAge, a trade magazine for advertising professionals, calls these types of returns "eye-popping." The magazine goes on to say radio's ROI is superior to commercials on TV, online, and social media.
To learn more about Nielsen's latest ROI study, click here.
Both reach and ROI are the best metrics for determining the best way to advertise in Tampa Bay. BY either measurement, local radio is the logical choice.
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