Swing states with large Hispanic populations are generating higher mobile ad prices for political advertisers than other 2012 election battleground states. Though it's not clear that the desire to reach Hispanic voters is driving up prices, the data from mobile ad firm Pontiflex suggests it could cost campaigns more to target mobile ads to them.

Political candidates and groups using the firm's mobile signup ads are spending nearly $1 more per lead on average in Nevada and $2 more per lead on average in New Mexico, compared with average costs of the same types of ads targeting people in other swing states.

The battleground state prices, however, are highest in Montana, which has the smallest population of all the states measured, and where the Hispanic population is tiny in comparison to Nevada and New Mexico.

"The more populous a state is, the lower the cost per lead," said Zephrin Lasker, co-founder and CEO of Pontiflex. "Though prices will go up in more sought-after states due to increased demand at some point in the future - as we get closer to the election - this has not happened yet," he said.

Pontiflex serves ads in mobile apps that allow users to signup with campaigns by providing email addresses, names and Zip codes without leaving the app. The company charges advertisers when people signup via the app ads.

Rather than targeting ads to certain types of mobile apps, or based on demographic data, political advertisers mainly are targeting the Pontiflex ads geographically in the hopes of building their lists in key locales, said Lasker.

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