by InvestorPlace Staff | July 23, 2012 11:32 am
If recent polling is any indication, all the campaign ads and candidate visits that Mitt Romney and Barack Obama have rolled out are preaching to the choir.
A recent poll conducted by The Washington Post and ABC News found there are fewer undecided voters than there were in the past three elections.
Only 6% of those polled said there was a good chance they would change their mind on who they were voting for. Another 13% said it was possible they might change their mind, but unlikely. That leaves less than 1 in 5 voters who say there’s any chance they will change their mind.
Compare this to 2004 or 2008. In 2004, 12% said there was a good chance they would switch who they supported, although this was a mid-June survey. By mid-July, that number had dropped to 7%. In 2008, a mid-July poll found 10% of voters saying they were likely to change their minds.
In 2004 and 2008, the number of people who said their vote might change, no matter how small of a chance, was bigger than it is today. In 2004, 21% indicated their minds had not been made up, while 25% said they were still deciding in 2008.
What this means is that the candidates are shelling out a lot of money to reach a shrinking amount of the population. With estimates that $3 billion will be spent in this campaign, that means Obama, Romney, and their supporters will have spent $400 per undecided voter.
— Benjamin Nanamaker, InvestorPlace Money & Politics Editor
The opinions contained in this column are solely those of the writer.
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