Red state, blue state, purple state – no matter the state of the political confusion this fall, media buying during an election year can be a challenging process for franchise brands as November nears.
As presidential nominees are confirmed following the Democratic and Republican national conventions, and down ballot nominees win their final primaries, these final months for ad spending are about to get, in short, absurd. Why? The dominant political parties will be flush with cash they want to spend between now and Nov. 5 to get their candidates elected.
For franchise brand media plans, that means fewer available ad spots and paying a premium for what is available. Now is the time to get ready. The next few months will be a whirlwind.
Expect More
While 2020 broke many political ad spending records, 2024 is expected to easily break those.
A report from the research firm Insider Intelligence predicts ad spending will rise by 30% to $12.32 billion. Most of that – nearly 72% – will be spent on traditional media, an increase of nearly 8% from the 2020 election cycle.
Spending on digital platforms, which has historically been a smaller chunk of spending in previous election years, is expected to rise 156% from 2020 as advertisers seek the attention of the 18- to 24-year-old market. This demographic represents the country’s newest, more impressionable voters – and those who are more active on Meta, YouTube, Spotify, Google and other digital platforms.
Setting Expectations
There’s no avoiding it: From now until Nov. 5, advertising rates are going to get significantly more expensive and competitive.
If you planned ahead and made your ad buys at the beginning of the year, that’s great – but it’s not a guarantee in an election year. The odds that your purchased spots will run as planned are relatively high, but the threat of getting bumped remains.
During an election year, political ads will almost always be given preferred placement. The reason? Campaigns have more money and are almost always willing to spend it to gain a new voter.
For those who aren’t able to buy so far ahead, all hope isn’t lost, but it’s going to be challenging – especially if you are targeting the coveted 18- to 24-year-old demographic.
The 25- to 54-year-old segment is a secondary market for ads, but it also remains competitive as campaigns try to grab their attention. If you’re targeting an older demo, you’re in luck. Campaigns often view voters as having their minds already made up, so ad space targeting that group won’t be as competitive.
Bumps in demand will also continue through the fall cycle, as debates and town hall meetings are televised. Scheduling between those weeks can help take advantage of lower ad costs and decreases in demand for prime placements.
Also, it’s a good idea to keep in mind how your state leans politically as to how competitive the media landscape will get in the ensuing months. Solid red and blue states that have little fluctuation will be less competitive, relatively speaking, than a purple state, which has many undecided voters.
Alternatives for Ads
Unfortunately, there aren’t many platforms that prohibit political ads. But it doesn’t mean they don’t exist.
PBS is one platform that doesn’t allow paid political advertising. LinkedIn also prohibits political ads and caters to a more professional, career-oriented audience. TikTok, which is a great platform to reach a younger demographic, and Pinterest also do not allow political advertising.
These platforms are largely avoiding the use of ads and political speech to avoid spreading misinformation, reduce divisiveness and foster the digital communities the platforms were intended to serve.
Some platforms that prohibited political advertising in the 2020 election cycle are allowing political ads again. X, formerly Twitter, which once prohibited political advertising, is now allowing political advertising for the first time since 2019. Spotify, which didn’t allow the ads in 2020, has also changed course this year.
While it might be difficult in the short term to keep up your advertising presence, it’s not the time to remove yourself completely from the ad space. This pain point is temporary.
Just remember, come Nov. 6, it’s back to business as usual – just in time for the holiday season.
