As the 2024 US election season heats up, you might be wondering how this political whirlwind will affect your digital advertising strategy.
Let's break it down so you know what to expect without getting lost in the chaos.
Higher Ad Costs
First things first: ad costs are likely to rise.
During election season, political campaigns flood the digital space with ads, which means more competition for ad slots. This increased demand creates more competition for ad slots, particularly on popular platforms like Facebook, Instagram, and Google.
As a result, you can expect CPMs (cost per thousand impressions) to increase by 15-50%, especially as the election date gets closer
So, if you've noticed your usual CPC or CPM creeping up, you're not alone!
Increased Competition for Attention
It's not just about the money; it's also about eyeballs.
With an influx of political ads, there's more noise to cut through. Which means you'll need to work a little harder to stand out and get your customers to convert.
Creative and engaging content is key to making sure your ads don't get lost in the shuffle.
Shifts in Audience and Consumer Behaviour
Election season often brings a noticeable shift in both audience behaviour and consumer spending.
People become more engrossed with political news and discussions, which can pull their attention away from shopping. This means your usual ads might not perform as well since they're competing with a high volume of political content.
However, it's not only about attention—economic uncertainty can also make consumers think twice before making purchases, leading to a dip in sales.
So, what can you do? Be consistent when it comes to keeping an eye on your metrics and be ready to optimise when things aren’t ideal. Maybe even pausing down and laying low for a bit. Depending on your performance. Staying flexible is key to keeping up with these changes!
How Should Marketers Adjust Their Campaigns During Election Season?
Plan Ahead
To handle the intense competition of the election season, it's essential to be proactive in your advertising strategy. Here are some ways to do it:
Early Spending: Begin increasing your ad spend around two months before the peak election period to avoid high costs. Focus on prospecting to build a retargeting pool for the holiday and election season.
Strategic Reduction: As mid-October approaches, shift focus primarily to retargeting, minimizing spend around November 3–4 when political ad competition is highest.
Adjust Content Calendars: Avoid major election dates for your organic and paid content to prevent getting overshadowed by political ads.
Anticipate higher costs and increased competition. Set your budgets accordingly and be prepared for potential fluctuations in ad performance.
Work On Your Messaging
To connect with your audience during economic uncertainty, adjust your messaging strategy. Focus on themes like convenience, affordability, and long-term value to address their concerns.
Here are some words you can use:
Highlight Savings: If you’ve been planning on doing a sale, now is probably the right time to execute it. Try offering deals like “Get X% off your first order” to attract attention and purchases
Promote Subscription Discounts: Encourage customers to commit long-term with offers like “Enjoy X% off when you sign up for a subscription today.”
Acknowledge Financial Concerns: Use empathetic language, such as, “We understand times are tough…”
Focus on Durability and Value: Highlight messages like, “Buy quality that will last for a lifetime.”
Also, avoid terms like “luxury” or “high-end,” which might deter cost-conscious consumers, and instead emphasise value and quality.
Stay Flexible
In an unpredictable election year, it’s super important to be flexible with your strategy and execution. Being adaptable can help you achieve better results and save money compared to sticking with a rigid plan.
Keep Your Budget Flexible Across Channels: Don’t lock yourself into fixed budgets for each channel. Instead, be ready to move your budget around to focus on the channels that are performing best.
Save Some Budget for After the Election: Set aside part of your budget to invest heavily after November 5th. Black Friday and Cyber Monday are golden opportunities to gain back momentum once the election buzz dies down.
Regularly Check Placement Performance: Keep an eye on how different placements are doing. While it’s usually a good idea to let the algorithm spread your budget, during high-competition times, it’s smart to cut back on placements where costs are spiking.
Stay Informed: Keep Up with Platform Updates and Restrictions
During election season, staying on top of platform updates and restrictions is more crucial than ever. Here’s why it matters and how you can keep yourself in the know:
Understand the Latest Rules: With all the changes and heightened scrutiny during election season, platforms like Facebook and Google often update their rules and policies. Knowing these updates helps you avoid issues like ad rejections or unexpected changes in performance.
Be Prepared to Pivot: Platforms might introduce new guidelines or features related to election ads. You need to be able to quickly adapt your strategy to meet these new requirements and make the most of any new opportunities.
Avoid Unwanted Challenges: If you’re not up to date with the latest regulations, you might face unexpected challenges, like your ads being taken down or not performing as expected. Regularly checking for changes helps you stay ahead of potential problems.
What NOT to Do
Don't Test New Creatives: With ad costs on the rise and increased competition, this isn't the ideal time to test new creatives or ads. The high costs can make it expensive to experiment, and you might not get accurate readouts due to the noisy environment. Stick with what's proven to work until things settle down.
Avoid Drastic Budget Cuts: While it's tempting to cut back on spending to save costs, slashing your budget too much can backfire. You could lose visibility and miss out on potential customers. Instead, consider reallocating your budget to your best-performing campaigns.
Don't Ignore Your Analytics: Now is not the time to go on autopilot. With so many changes happening, keeping a close eye on your performance metrics is important. Ignoring your data could mean missing important trends or opportunities to pivot.
In a nutshell, election season can be a bit of a wild ride for digital advertisers, but with some preparation and strategies, you can get through it unscathed!
SO, WHERE DO YOU FIND THIS PARTNER?
Well, aren’t we glad you asked! We at DigiCom are obsessive data-driven marketers pulling from multi-disciplinary strategies to unlock scale. We buy media across all platforms and placements and provide creative solutions alongside content creation, and conversion rate optimizations. We pride ourselves on your successes and will stop at nothing to help you grow.
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