There are 171,080 millennials in the Fort Myers-Naples area. The oldest of them turn 40 this year. According to The Pew Research Center, millennials comprise the generation of Americans born between 1981 and 1996.
As a consumer group, millennials account for an outsized percentage of retail spending. This generation represents 17.7% of the Fort Myers area population but almost one-third of metro-area sales.
All in, Southwest Florida millennials are expected to ring up more than $7.9 billion in purchases during 2021. You name it, millennials are planning to buy it.
According to Nielsen, over the next 12 months, Fort Myers-Naples millennials will show up in huge numbers at auto dealerships, furniture stores, mattress stores, appliance stores, home improvement stores, and scores of other area retailers and service providers.
To earn a meaningful share of millennial spending, Fort Myers area retailers and small business owners will need to advertise.
“Think you have a great product?” asks the US Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”
“Advertising, if done correctly," says the SBA, "can do wonders for your product sales, and you know what that means: more revenue and more success for your business.”
By almost any measurements, the best way to reach local millennials with advertising is on Fort Myers radio.
Every week, according to Nielsen, Fort Myers radio reaches nearly 90% of all millennials. This is remarkably more than watch local TV, cable, or streaming video. It's more than use social media sites like Facebook and Instagram. It's more than listen to streaming audio from Pandora and Spotify.
The number of different Fort Myers consumers reached by an advertising 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 Fort Myers 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.
Fort Myers millennials defy the stereotypes foisted upon their generation. They are, in fact, hardworking homeowners with families and jobs. But most importantly, these 25-40-year-olds are shaping Fort Myers's retail economy.
*Study conducted by Nielsen and commissioned by Cumulus/Westwood One
More Advertising Advice For SWFL Small Business Owners
- Who Listens To Fort Myers Radio?
- How Much Do Fort Myers-Naples Business Owners Spend on Advertising?
- Why Audio Advertising In Southwest Florida Drives Purchase Decisions
- Consumers Stick With Fort Myers Radio Despite Pandemic
- SWFL Homeowners Plan To Spend Stimulus Cash On Improvements
