Fast approaching is the 2024 election. It will have two huge effects on marketers.
The election voting starts in September.
The election is November 5th.
There will be two big impacts on marketers.
- Political messages will overwhelm the marketing channels. Direct mail, radio/TV, email, Facebook, pre-rolls, digital ads—everything—will be a huge mess. Over $12 billion (yes, billion) in political spending is expected to begin hitting. The bottom line: your message will be lost. Your response rates will fall. And…
- The media costs will spike.
Almost all media will increase their costs as inventory declines and insane prices are raised because the political consultants will pay outrageous fees and get bigger commissions.
Media availability will shrink.
Bottom Line: Your cost per lead/cost sale will shoot up as your media costs skyrocket and response rates go down.
The best strategy?
The swing states are:
- Georgia
- Arizona
- Pennsylvania
- Wisconsin
- Nevada
- North Carolina
- Michigan
- North Carolina
- Virginia
Here is what I recommend to our clients:
For digital, social, and pre-roll, watch your ROI carefully. It’s best to cut back and wait until after the election when costs are lower and inventory is more.
September is not good but it’s better than October.
October will hurt.
But after the election in November, it will be great.
Expect to see costs soar higher in certain media—like TV — than in other media. Switching to other media that will not reflect the increased costs, like direct mail, is better.
Direct mail avoids cost increases. But as election day approaches, mailboxes will be flooded.
This change in marketing will also mean adjusting your budget to spend heavily on marketing after November 5th.
Don’t take risks. Don’t waste money. Don’t get lower responses. Market smart.
Need some ideas or a plan for direct marketing for the upcoming election season in evaluating your next steps?
Give Michael a call at 615-933-4647 or email him at [email protected].