As a result, the amount of money that will be spent in the Charlotte area during 2021 on domestic dogs, cats, birds, ferrets, and other cuddly creatures will achieve a record-high $934 million. These figures are based on recent forecasts from The American Pet Products Association (APPA),
“We have reached a critical milestone in 2020, generating $103.6 billion in sales [in the U.S.],” said Steve King, President, and CEO of APPA. “We are bullish for the coming year, projecting growth of 5.8% - well above the historical average of 3 to 4%."
Charlotte pet owners will be spending in four ways:
To capture a significant share of the local pet economy, local business owners who provide these four types of goods and services will need to advertise. By almost any marketing metric, the best way to reach pet owners is by advertising on Charlotte radio.
Adult consumers of all ages own pets. But, a significant number of Charlotte owners are members of the millennial generation which consists of 25-39-year-olds.
Although millennials have different media habits than older generations, Charlotte radio reaches more 25-39-year-olds than all other media including digital options like Facebook, Instagram, Pandora, or Spotify.
For Charlotte business owners who depend on advertising to sell their goods and services, the reach of a campaign is crucial to success.
A study, Nielsen discovered the elements of an advertising campaign that had the most potent effect on purchase behavior. The results indicate that reach (the number of different consumers exposed to a campaign) was responsible for driving more sales for the advertiser than branding, recency, context, or targeting. Only the message itself (creative) was more potent.
In addition to superior reach, advertising on Charlotte radio also delivers an extraordinary return-on-investment.
Between April 30 and May 27 of last year, Nielsen analyzed the sales results of a retailer who conducted an advertising campaign during that period using both radio and TV.*
The bottom line of this study: Radio advertising produced a $28,000 increase in sales for every $1000 the retailer spent.
These findings confirm 21 previous studies by Nielsen, which demonstrate that, on average, radio advertising returns $10,000 in advertising for every $1000 invested. The chart below shows the range of returns from each study.
For Charlotte area veterinarians, pet store owners, dog groomers, and grocers, who are considering advertising, radio's ROI is nothing to bark at.
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.