Commentary Dodging the Crossfire of Political Advertising

 

Commentary

Dodging The Crossfire of Political Advertising

• by Phil Case , September 4, 2024

Marketers have front-row seats to arguably the most digitally charged presidential election in political history. This year’s political spending will gluttonize digital ad inventory, ripping deeper into an assortment of media that brands typically rely on to drive high-converting traffic. Keeping any brand visible despite limited ad space and consumer fatigue requires well-timed, segmented media placements and a renewed focus on creativity and resonance.

With 2024 political ad spending estimated to reach a record high of nearly $13B, we predict that about 35% of that spending ($4.6B) will be allocated to digital media. The digital economy will be most noticeably impacted by higher CPM’s (about a 20% to 45% increase) during the six weeks leading up to the election.

Brands can expect political advertising to be concentrated on awareness-driving channels such as CTV, YouTube, and Programmatic Display starting in late September with a ramp-up of social media advertising on platforms such as Facebook, Instagram, and X in October.

Targeting will be centered around the usual swing states with an emphasis on the influx of 16 million first-time Gen Z voters.

For brands to engage this demographic, they could prioritize organic interactions that provide relief from the bombardment of political ads. Light-hearted social media posts or personalized promo emails are a few ways to cut through the noise. Alternatively, brands could consider shifting advertising budgets to TikTok, where political advertising is banned and Gen Zs are easy to reach.

Despite the pressures of political advertising, brands can maintain favorable ad costs with a full-funnel marketing approach that segments media prioritizations month-by-month.

Here’s how: During August and September, brands can prioritize spending on awareness media like programmatic display or YouTube preroll. If timed correctly, brands can multiply the volume of prospects entering the top of the marketing funnel while dodging the heightened CP’s that will plague these platforms in the election heat of October.

Then, shifting spending in October and November to prioritize mid and bottom-funnel media can retarget and nurture a pool of new prospects from awareness to conversion. This enables ad spend to be maximized on channels that are less contested by politicians while simultaneously engaging a wealth of prospects with initial exposure to a brand.

Inevitably, all target markets will be overstimulated by the onslaught of political ads come October; ad fatigue will set in, and engagement rates will fall. Avoiding adjacency with political ad spaces will be insufficient for capturing and retaining the attention of tiresome consumers.

To maintain optimal engagement rates, brands should renew their focus on creativity and resonance within their messaging, which will provide consumers with a much-needed diversion from the chaotic political landscape. Seek to contrast with ads that build connection amid the chaos. Consider building ads that champion consumer stories or showcase how a product can improve life.

Amid these difficulties, we predict that some brands will completely pause their ad spend during October, only to reflood the market with increased spending in the election aftermath of November and December. Combined with the fact that retail brands will be competing for additional advertising space during those same months, don’t expect normalcy to return to advertising rates anytime soon.