Strategic Media Buying for the 2024 U.S. Election Season

As we approach the 2024 U.S. Election season, effective media buying strategies are more crucial than ever. Beyond the high-stakes Presidential race, campaigns for U.S. House and Senate seats, along with state gubernatorial elections, are poised to dominate the advertising landscape. Local elections add further complexity, presenting unique opportunities for smaller brands and businesses to engage meaningfully with their communities.

Political advertising will drive substantial spending across various media channels, influencing not only national discourse but also local dynamics. Understanding the diverse voter demographics and their media consumption habits will be key to crafting targeted campaigns that resonate effectively. This election cycle promises to be a defining moment for media buyers, requiring agile strategies that adapt to rapidly evolving political landscapes and consumer behaviors.

Impact of Key Battleground States on Advertising

Key battleground states such as Arizona, Georgia, Michigan, Wisconsin, Pennsylvania, Nevada, and North Carolina significantly impact ad space availability for advertisers. During elections, these states attract intense political campaigning, leading to increased demand for advertising slots. As a result, viewers can expect more interruptions to their regular TV and internet browsing with heightened political coverage. This requires advertisers to adjust their scheduling and preparations for the latter half of the year, leading into the holiday season.

The increasing trend in election ad spending is evident when examining the substantial growth over the past seven years, spanning three election cycles, including midterm elections. This political ad spend growth has more than doubled from 2018 to 2020 alone. Looking ahead to 2024, projections indicate that election ad spending will continue to rise, potentially reaching $10 billion or more.

Surprise, surprise! The bulk of this increased ad spend will primarily flow into Broadcast TV, smashing records for spending in that medium. While Broadcast TV has traditionally dominated political ad placements, digital platforms are now stepping into the spotlight during election seasons. Formerly restricted by stringent guidelines, purchasing ad space in the digital realm has become more accessible. Alongside Broadcast TV, Connected TV (CTV) and other streaming platforms are quickly gaining traction as preferred channels for election advertising.

Let's explore each advertising channel in detail to understand what media buyers should consider:

Broadcast Television

Broadcast television faces a significant influx of political ad scheduling, especially during the Primary (February 3 to March 19) and General Election (September 6 to November 5) periods. In battleground states, expect rates to soar by 30% to 60%, with a more modest 5% increase in non-battleground states. To avoid ad displacement, advertisers should secure non-LUR (Lowest Unit Rate) slots and prioritize :15 ad units when possible for better placement and reduced preemptive risks. 

Dynamic Digital

Digital platforms are bracing for CPM hikes across different formats: expect increases of around 5% for display and search, and up to 10-15% for social media and Connected TV (CTV). These adjustments are crucial amid heightened political spending, requiring daily bid optimizations to  effectively secure ad placements. The intensified scrutiny on creative reviews, especially for content with sensitive or politically adjacent themes, highlights the need for agile strategies on platforms adept at managing news content. Advertisers must also prioritize brand safety measures, employing site allow/block lists and contextual keyword targeting to navigate political content effectively. Leveraging direct publisher relationships and Private Marketplace (PMP) executions can mitigate preemptive challenges. For optimal digital advertising during election cycles, strategic budgeting and tailored social media approaches that align with platform moderation policies are essential.

Radio Centers

Key radio stations are expected to experience a significant uptick in political advertising. To secure ad space, advertisers should book Q3/Q4 campaigns well in advance—ideally two months before the flight date—to mitigate the risk of preemption by political ads, especially in fiercely contested election states. Despite radio receiving a smaller share of political spending overall, formats like news, talk, and sports are likely to be more affected. Advertisers can maintain flexibility with formats and explore alternative strategies such as traffic sponsorships and DJ live reads to diversify placements and minimize competition for ad space.

Out of Home (OOH)

Out of Home (OOH) advertising provides a stable platform that is less prone to disruption by political ads than TV and radio. To secure optimal locations, advertisers should renew existing billboard placements early, as political ads can affect availability. It's also beneficial to negotiate rates for 2024 campaigns before Labor Day to secure favorable pricing and preempt competition for space. Despite the static nature of OOH boards, political advertisers are required to pay full price for their placements, underscoring the importance of strategic planning to maximize inventory use. Booking in advance ensures advertisers can avoid last-minute disruptions and effectively leverage OOH campaigns during election seasons.

Digital CPM Impact

As inventory becomes limited, particularly on platforms like Google and Facebook, CPMs typically increase due to heightened demand. During major election periods, we expect CPMs on these platforms to rise between 5% and 15%. This trend reflects the competitive advertising landscape during elections, where demand for digital ad space intensifies. Below are the observed trends from recent years:

Best Practices for Print Ads

Effective print advertising hinges on proactive strategies tailored to navigate the complexities of election cycles. Securing premium ad placements early is crucial, allowing brands to capitalize on high-visibility opportunities before they are booked. Advertisers can enhance message relevance by aligning placements with editorial content preferences, such as opting for sports sections to avoid contentious news environments. Leveraging newspapers' flexible page management capabilities enables agile adjustments to meet fluctuating demand effectively. Exploring special ad unit options like polybags or post-its provides creative avenues to stand out and engage target audiences amidst competitive election season advertising.

Navigating the Election Advertising Landscape

Strategic planning is key for advertisers to approach ad buying and scheduling during election seasons, mitigating the risk of preemptions by political ads and maximizing campaign impact. For expert guidance on navigating complex advertising landscapes, contact Rise today.