How Might Bloomberg’s Millions Affect His Presidential Campaign?

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Today’s article comes to us courtesy of Dan Granger, CEO and Founder of Oxford Road, a Los Angeles based ad agency specializing in performance marketing for Direct to Consumer Brands.

Michael Bloomberg speaking as Mayor of New York City in 2012
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Will voting Democrats accept a candidate who appears to be buying his way into the race?

Many will, and with the consensus that they don’t like their options, Bloomberg fills in a role for people who want a formidable choice who represents the promise of being able to outmaneuver Trump and has proven himself in the private sector in a way that no others can.

The question is will it be enough to get the nomination? And the answer is likely no. His Johnny-come-lately approach to entering the race will support a narrative that he is just another elite trying to buy his way in–like a more respectable version of Tom Steyer. This is his key vulnerability and is likely to result in a too little, too late reaction from party loyalists.

Could Bloomberg’s tactic of bypassing debates negatively affect his campaign?

Bypassing the debates has to negatively affect his campaign and feed the narrative that he’s another corporate fat cat who doesn’t want to take the time to play by the rules. At least that is likely to be the perception. Competing candidates may not need to use this argument until his poll numbers show him to be a threat.

Is dumping millions of dollars into advertisements more effective than an honest grass-roots campaign?

These two strategies need to work hand-in-hand. The war chest he is pouring in would likely catapult anyone except Tom Steyer (the Democrat’s least likable candidate). However, in the absence of grass-roots strategy, he has wildly diminished the potential effectiveness of his ad dollars.

Does Bloomberg’s superior wealth compared to Donald Trump give him an advantage with moderate Republicans?

In the general election, absolutely. There are a great number of pragmatic right-leaning voters who will hold their nose and vote for Trump, but all the while wish someone else with a comparable track record and capabilities were up for the position.

Bloomberg is a far better general election candidate than he is a primary candidate. If he’s really committed, he is more likely to be next year’s Ross Perot.