Kris Qiu, Co-Founder and CEO at IQM.
If you’ve turned on a TV or scrolled social media anytime in the last six months, you likely saw a political ad for the 2024 election. This year was a game-changer, with a record-breaking price tag of almost $11 billion spent on political campaigns. Clearly, no matter the political landscape, the stakes keep climbing when it comes to campaign ad spending.
For advertising technology partners like my company, working within the strict parameters of highly regulated verticals such as politics means tackling challenges head-on, emerging with clearer strategies and writing a playbook for future success.
In order to achieve that future success in an ever-evolving industry and in verticals such as politics that are never certain, it’s important to carefully evaluate insights where you can so you can develop cutting-edge strategies.
Let’s walk through five big hurdles political advertisers on both sides of the aisle faced this election season and how the right strategies, like a solid conditioning program, helped them leap over them to meet their campaign objectives.
1. Limited Partners Willing To Accept Political Ad Business
Tensions were high this year. As a result, many players in the industry were understandably cautious. With some platforms outright banning political advertising and others tightening restrictions, political advertisers were forced to find new ways to scale campaigns. For advertisers, this means finding a partner who is not only willing to take the spend but is also capable of scaling, pacing and deploying these strategies effectively.
It’s important to be strategic about finding the right partner. When it comes to scaling, it’s not always easy. Inventory is scarce, and even more so in the political space. In order to be successful in the partnerships you commit to, look for partners who are experts in verticalization. Find the people who know the space through and through. This is one way to ensure scaled success.
Additionally, evaluate whether or not they have a proven track record in that vertical. You can do this by pre-vetting the inventory and creating a structure that includes owned and partnered data. Having owned and partnered, data makes it that much easier to target and reach voters. Taking it a step further, in order to connect with voters, find partners that have the ability to leverage that pool of data and have the foresight to connect the dots.
2. AI And Regulatory Changes
AI has become a buzzword across every vertical, but the political sphere brings unique risks. And a massive topic of discussion in this year’s race was whether or not consumers could decipher authentic advertising from AI-generated ads. As a result, new guidelines in California were introduced to mitigate the use of AI-generated and potentially malicious content.
While not yet widespread, regulations regarding the use of AI in advertising could have broader implications in the coming year. The key is to take a proactive approach—quickly spotting and removing fraudulent ads and staying ahead of evolving regulations. This year’s election underscored just how important it is for campaigns to have strategies that ensure authenticity and transparency.
3. Rapidly Shifting News Cycles
Social media’s influence on the news cycle has only intensified, making rapid-response adaptability essential for any successful ad strategy.
As campaigns shift, often at lightning speed, it’s vital to have a team and platform ready to pivot. Being able to update strategies in real time can mean the difference between a missed opportunity and a winning message.
4. Connecting With Voters Online And Offline
The omnichannel strategy is a classic for a reason, but this year, taking it further proved invaluable in political advertising. The ability to connect and not just mix traditional methods like door-knocking with digital tactics can create a well-rounded and specific approach that resonates with voters.
When done right, this blend allows campaigns to not just tap into the right moments but personalize them across both old-school and digital channels.
5. Restrictive Parameters And Supply Scarcity
This year, new challenges in connected TV (CTV) inventory were widespread. As walled gardens grow, the chances of “reserved” inventory turning into promised makegoods grow as well. While many consumer brands feel little impact from making up missed spots at a later date, in politics, timing is everything. Dollars spent post-election are wasted.
Advertisers looking to deliver campaigns during critical election windows used vertical DSP partners to scale their CTV campaigns within the premium inventory and against actionable audiences.
The biggest problem I see when it comes to scaling campaigns stems from limited inventory. Time and time again, there are instances where inventory, particularly in CTV, is pre-sold, and dollars are taken without the follow-through of filling the buys. A simple way to avoid this challenge is by working with providers who have a diversified supply. When you do this, you eliminate the scarcity issue of putting all of your buys in one basket. A diversified buy is a smart buy.
I think it’s unlikely that any of the challenges listed above will be going away anytime soon, and having a playbook to overcome them will be critical for future political campaigns. A refined strategy and learning the ins and outs of this unique vertical will make it that much easier to achieve campaign goals and win with your ad spend.
Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Read the full article here
