Do political ads work?

At the Tufnel Gameday Command Center yesterday, I had four TVs going (yes, I know I have a problem). As such, I was inundated with political ads - two per commercial break, often more. They are all on mute, but there they are. I must have seen hundreds yesterday.

Here in OH, every ad was in regards to our Governor and US Senate race. Every ad that I saw was a slam piece against a person. I did not see a single ad that simple said - this is me, i am a good person who will do good things for OH, here is why I want your vote. On both sides, the claims made were absurd - just hyperbolic nonsense.

I am extraordinarily intelligent and knowledgeable and not swayed by such pap, but these things must be effective, or so much would not be spent running this crap, right? Has a TV ad ever swayed anyone? (And to a lesser degree, has a yard sign ever had any impact, other than to announce to the world who that household supports?).

Seems like wasted money to me.