> 2016 Clinton campaign raised a lot more $$ than the Trump campaign
> Sanders primary campaign out-fundraised the Clinton one
These are not convincing examples. They are utterly dominated by confounding details. Clinton had the name-recognition of Coca-Cola vs. an unknown Sanders and the less said about the Trump circus the better. To compare advertising spend of brand-name candidates, you need to account for the vast quantity of non-paid marketing they have received before and during the campaign.
Better examples would be between two similarly unknown candidates in city/county elections. I have heard it claimed (reddit) that these races are almost always won by the biggest spender but I don't have a real source.
> Sanders primary campaign out-fundraised the Clinton one
These are not convincing examples. They are utterly dominated by confounding details. Clinton had the name-recognition of Coca-Cola vs. an unknown Sanders and the less said about the Trump circus the better. To compare advertising spend of brand-name candidates, you need to account for the vast quantity of non-paid marketing they have received before and during the campaign.
Better examples would be between two similarly unknown candidates in city/county elections. I have heard it claimed (reddit) that these races are almost always won by the biggest spender but I don't have a real source.