Your Best Bet in the 2024 Election Cycle

As we head into the ever-so-hectic 2024 election cycle, you might be noticing something: advertising space is becoming tighter and more expensive. This isn’t just your imagination—it’s a reality that’s hitting marketers across the board.

With political races dominating ad inventory at every level—local, state, and national—this year’s ad spend is predicted to surge. According to the “2024 CMO State of the Union Report” by Wunderkind and studioID, a staggering 94% of marketers are bracing for higher advertising costs in 2024. (And that’s on top of the already-climbing ad prices they’ve been grappling with.) What’s more, 72% of retail marketing executives are seriously worried about how to cut through the election noise with effective ad strategies.

Political ad spending is projected to hit $12 billion this year, and that means brands, especially those in battleground states, will have to dig deep into their pockets. We’re talking about a 10% to 20% increase in advertising costs in non-battleground states and up to 50% more in the battleground areas compared to non-election years. It’s a classic case of supply and demand, where traditional advertising becomes more expensive simply because there’s less of it available.

This is where influencer marketing honestly shines as a cost-effective and impactful solution. As traditional advertising gets pricier, influencer marketing remains a smart alternative, especially over the next 90 days. With influencers, you can bypass the overcrowded traditional ad spaces and connect directly with your target audience in a more authentic, relatable way.

Micro-influencers in particular offer a unique advantage. These creators have smaller, yet highly engaged followings, which often leads to higher conversion rates. Their audiences trust them, see them as peers, and are more likely to act on their recommendations. Plus, micro-influencers are typically more affordable than their larger counterparts, giving you more bang for your buck in this competitive ad climate.

As we approach the height of the election madness, consider shifting your budget towards influencer partnerships. Not only will you be saving money, but you’ll also be tapping into a marketing strategy that builds genuine connections and drives real results.