4 Keys to Political Fundraising

No matter what happens in any other department of a campaign, the fundraising department is the catalyst for it all. Without money, nothing moves in politics, including the campaign of your preferred candidate. If you are looking to get involved in politics, there are few tasks more important than raising funds. Here are some keys to political fundraising that you should consider as you pursue political management:

Answering the “Why”

You know that you are raising money for a political campaign, but what is the real reason? What does your candidate stand for that people will really gravitate toward? You should learn the marketing narrative that you are actually raising money for. Why? You need to understand why someone would donate to you before you can expect him or her to do so.

Addressing Donor Concerns

You will have to learn how to overcome objections in order to encourage support for a political cause, no matter the cause. Learning to address donor concerns is essential to any business, but especially in politics, and if you know how to do it, then you instantly become an asset to any movement.

Choosing the Right Format

No two campaigns are the same, but most campaigns fall under three basic headings: sales, direct solicitation or events. You can use your personal discretion and skill set here to determine the type of fundraiser that you perform, and you will usually have to develop an expertise in one of the categories before you might be hired onto a campaign.

Costs and Returns Considerations

Setting a budget and understanding how to leverage key performance indicators such as the profit to cost ratio are two of the “under the hood” features that will separate you from your competition as a political fundraiser. There are some industry standards that you can keep in mind: Letter writing campaigns and events should cost only about a third of the profit that you bring in. If you partner with a company that helps with your merchandising, you should receive at least 50% of the commission depending upon the notoriety of your campaign and the reach of your candidate.

Fundraising is just one of many important facets of a campaign. Visit The George Washington University online to learn how a degree can help you define the direction of your political career.