With the countdown to Election Day 2024 intensifying, political strategists, media buyers, and campaigns are working to figure out how to maximize the impact of their digital ad dollars.
As part of our 2024 Election Briefing Series, C&E spoke to digital strategists Jenn Colton, senior director of strategic services at Trilogy Interactive, and Andrew Mullins, VP of advertising and data operations at IMGE, about how advertisers can best position themselves to get the most out of their late dollars. Here are some tips that can help guide political campaigns in their final push:
1. Strategize Around Inventory Scarcity
Both Colton and Mullins emphasized the importance of securing premium digital inventory early in the campaign cycle, something that has proven to be especially critical in 2024. High-quality placements, especially on CTV, are fairly limited at this point in the cycle, with big chunks of premium inventory booked far in advance.
For campaigns that didn’t lock in key placements earlier in the cycle, they’re now faced with limited options or they’re paying inflated prices for what does remain available. As Colton noted, “anything premium that we didn’t book last spring or over the summer is very hard to get, or you’re paying an arm and a leg for it.”
One strategy campaigns can use to adapt to the constraints of inventory scarcity is flexibility with creative formats. Shorter 15-second ad slots, for example, both on CTV and other platforms, are more widely available at this stage than are slots for traditional 30-second spots.
Additionally, vertical video formats are generating high engagement. Focusing on shorter format at this stage is one way to maximize your campaign’s ability to secure more affordable placements.
“People are treating vertical video like they treat Netflix,” said Mullins. “They’re sitting on their couch. They’re watching tons of videos on TikTok, Instagram, Facebook reels, whatever. And that’s a format that we’re seeing crush it.”
2. Programmatic Networks and CTV: Available but with Caveats
While premium CTV inventory might be difficult to secure late in the cycle, both experts noted there are still significant opportunities in programmatic. Another place to look when it comes to CTV, noted Mullins, is on free ad-supported TV services like Pluto TV, Tubi, or Samsung: “Those are doing well and that’s an area I’m pushing a lot of money to right now.”
Campaigns need to be savvy, though. Inventory might be available, but the quality could vary, and pricing may be volatile. The biggest caution is not to overspend just.
“While it might not be a premium placement, there are still big screen placements that can be done on programmatic networks, and that inventory is definitely still available for folks,” said Colton.
3. Tread Carefully When It Comes to Cost on Social
A recurring theme: the sharp rise in costs on social media platforms, particularly on Meta. Mullins pointed out that CPMs for Facebook display ads have skyrocketed to $60 in some areas, making it an increasingly inefficient platform for late-cycle advertising.
“That’s way outside of where it should be,” said Mullins. “That’s not really worthwhile. We’re seeing a little bit of CPM fluctuation on the CTV side, especially on FAST and on VOD as well. But it’s not quite as dramatic as paying $60 CPM for something that’s worth maybe $15.”
The biggest question to ask here late in the cycle, according to Colton, is whether you are really reaching your audience when you’re reaching for late placements: “We say Meta, but Facebook is foundationally different than Instagram. So who’s your audience and are they actually on Facebook? Social is sometimes used just a bit too broadly.”
Campaigns may need to reconsider a late reliance on social platforms and instead explore other digital spaces with better returns on investment, especially if they are seeing diminishing returns.
4. Audience Targeting: The Importance of Broadening Reach
The digital advertising world has long been lauded for its ability to precisely target voters through first-party data matching. And that’s still crucial for campaigns. However, both Colton and Mullins cautioned that such precision may not be entirely necessary in every instance at this stage of the campaign.
The reality of first-party data matching, said Colton, is that it’s getting harder and it’s getting more expensive — making a judgment call on how necessary your first-party match is will change your CPMs.
“So if you can and you are comfortable and your audience is broad enough that you can do it demographically or with interest targets, you’re just going to get a better bang for your buck,” according to Colton.
That broader demographic targeting strategy, using demographic and interest-based criteria, can help campaigns stretch their budgets further. That approach aligns with the growing consensus that there is some value in accepting a degree of “waste” in order to reach a wider audience more cost effectively on digital.
Google Search also remains a useful tool for persuasion. Similarly, YouTube is a place political campaigns can effectively reach voters across demographics. YouTube’s growing audio advertising inventory also presents an affordable option for campaigns looking to expand their reach.
5. Don’t Neglect Emerging Formats
As campaigns explore underutilized platforms, digital audio ads are gaining traction. While still somewhat misunderstood, podcasts and platforms like Spotify present a clear opportunity. The level of trust between podcast hosts and their listeners can lead to highly effective ad placements. However, Mullins cautioned that campaigns need to ensure transparency about where their ads are appearing, given the fragmented nature of the digital audio space.
In a hypothetical scenario where a campaign has $20,000 left to spend, both strategists agreed that social media—particularly in vertical video formats—remains one of the obvious choices, despite rising CPMs. YouTube also continues to be a prime platform for both video and audio ads.
“I’d be spending it on YouTube,” said Colton. “It’s the biggest platform. It is still where people are. Pretty much any demographic you want to be talking to you is there. You can get to them. Obviously, it’s not list-matched. So you’re going to have to be comfortable with that, which you should be. But that’s where I would be.”
In the final weeks of the ’24 cycle political campaigns should focus on flexibility across multiple digital channels. By taking advantage of available inventory, especially in emerging digital formats, and steering clear of inflated CPMs on certain platforms, campaigns can maximize their reach and effectiveness in the final weeks of the campaign.
