Introducing the New Engen 2024 Election Insights Dashboard for Brands & Digital Marketers

2024 is an election year, which means unique challenges for marketers, from ad cost volatility to heightened brand safety concerns (political advertisers and otherwise). In our Election Guidance Strategy Briefing, we mapped out key considerations and measures that every brand should take in anticipation of the year ahead. Now, we’re doubling down with the launch of our 2024 Election Insights Dashboard, brought to you by the advanced analytics experts at New Engen.

How It Works and How We Use It

We created this dashboard to equip New Engen clients with dynamic insights into the digital advertising trends of election years past. It allows us to better anticipate market behavior and proactively address potential headwinds and opportunities. By dissecting the data across various dimensions, including industry-specific insights, we aim to offer a comprehensive understanding and tailored strategies to optimize outcomes for every type of brand. The dashboard uses data from Pathmatics, a Sensor Tower product, and ranges from January 1st, 2019, to 1 to 2 weeks within the viewing date (ending on Sundays). The dashboard will be refreshed on Mondays on a bi-weekly basis.

At New Engen, we are actively leveraging the dashboard to support clients across our portfolio. The primary concern for many of our clients is how to manage costs within the unique climate of an election year, which, in 2024, is compounded by the Paris Summer Olympics and increased digital ad spending from global players like Temu. Ultimately, our dashboard insights will empower brands to monitor CPM fluctuations as political spending escalates, assess industry-specific impacts, and analyze channel performance - all of which will support tailored responses to heightened competition and market dynamics as they arise.

Notable Trends

Keep in mind that the New Engen 2024 Election Insights Dashboard highlights a historical reliance on highly visual channels, like social media, video, and display, which could influence a higher affectation of CPMs in these channels. However, digital marketing trends have varied significantly year over year, so it's crucial to closely monitor overall costs and utilize this dashboard to differentiate between market trends and brand-specific factors affecting ad spend.

Based on trends observed in 2020, we anticipate a surge in advertising spend throughout the year, resulting in heightened advertising costs across industries. Unlike 2020, however, the increased saturation of advertisers may lead to differences in observed patterns, such as sustained, high CPMs post-election and during peak shopping periods like Black Friday/Cyber Monday. To navigate these challenges effectively, brands should be vigilant and adjust their Q4 campaigns accordingly.

In the latter half of the year, we anticipate an increase in CPMs alongside potential volatility in conversion rates, particularly during key events like the presidential debates, which could divert audience attention away from advertising channels. Being mindful of these dates and fluctuations will be crucial for optimizing campaign performance and maximizing ROI.

Dashboard Tips & Tricks

Here are a few pointers to help you navigate the dashboard and unlock tailored insights for your brand.

1. Navigate between category-level dashboards in the main menu panel.
2. Adjust the time frame using fixed and custom lookback windows.
3. View industry-specific insights (and use the arrow in the search bar to select and de-select all options).
4. Tables with this icon can be adjusted by metrics like Spend, CPM, or Impressions