How to Pay for Your Political Campaign

When you run for public office, you will need to pay for your campaign. The money you raise for your campaign will be used to pay your staff, pay for your travel, and pay for your advertising. If you want to pay for your campaign effectively, you will need to hire a qualified financial team to handle your money. In addition, you will need to plan your fundraising strategy, identify targets, and raise the money needed to run a successful campaign.

Part 1

Part 1 of 3:

Creating a Finance Team

1
Hire a qualified treasurer. The money you raise needs to be in the hands of a qualified individual. A treasurer is legally responsible for keeping track of your contributions and expenditures. This post should be filled soon after you start your campaign. When you fill this position, you need to find someone you can trust and who is familiar with handling money.
- If you have a friend who is or was an accountant, call on them first. However, be aware that business finance is different from campaign finance, and if you can find someone with campaign finance experience you should hire them.
- Make sure the person you choose is willing to stay on board for your entire campaign. You do not want to have to transfer these duties to someone else while you are running for office.^{[1]XResearch source}
2
Form a campaign committee. In addition to hiring a treasurer, you should also hire a committee to help achieve your financial goals. The head of this committee should be a fundraising director who will oversee the development and implementation of your fundraising plan. The committee members you put around the director should be a diverse group of people with a large pool of friends (i.e., potential donors). Your committee members should be able and willing to use their contacts to set up meetings and host fundraisers.
- Hire a diverse group with different contacts instead of simply hiring all of your closest friends. You want your committee to reach as many people as possible.^{[2]XResearch source}
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3
Employ compliance experts. Whether you hire one compliance expert or multiple, these individuals are some of the most important members of your campaign team. These people will be responsible for ensuring your campaign finances are managed legally and responsibly. This person needs to understand the laws and regulations surrounding campaign financing.^{[3]XResearch source}
- For example, your compliance team needs to know what types of contributions have to be disclosed and what types of contributions can remain private. In addition, this person needs to know different contribution limits and how much money you can accept and who you can accept it from.^{[4]XResearch source}
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Part 2

Part 2 of 3:

Planning Your Fundraising Strategy

1
Identify a goal. Before you can raise funds effectively, you need to know how much you expect to spend from the day your campaign begins until the day it ends. Your calculations need to be based on facts, which will include how much the last candidate spent on a similar campaign, how much you plan on spending for advertising, how many events you plan on doing, what your travel plans will look like, and how much you will pay your staff.
- This goal will also help you promise donors that their money will be well spent and well managed. If you do not have a realistic goal in mind, donors will not want to give to your campaign.^{[5]XResearch source}
- Once you identify your goal, create a budget that can be passed around to your team so everyone understands how much money is needed and where it will be spent.
2
Assemble a list of financial sources. Start with your closest friends and colleagues. From there, expand your list to include their closest friends and colleagues. Continue this exercise as much as necessary to compile a good list of possible donors. You can also use the internet to search for possible donors. For example, if you are a democrat, search for donors that have given to democrats in the past. You might also search for liberal nonprofit organizations and download their financial statements, which will include donor information.
- However, be aware that federal law prohibits the use of federal campaign reports to solicit contributions.^{[6]XResearch source}
3
Incorporate all the possible methods of fundraising. Your plan must include a diverse list of fundraising methods. You cannot rely on one method to retrieve all the funds you need. If you do this you will be leaving a lot of money on the table. Common methods include events, phone calls, internet contributions, donor clubs, and mailings.
- The key to a successful fundraising campaign is to use methods that are not always thought of.^{[7]XResearch source} When you do this, you tap into funds that others may not be finding. Try using social media and allow people to access donation sites from your social media profiles.
4
Utilize a valuable advertising campaign. Fundraising actions should not be analyzed in a vacuum. In order to be successful, your entire campaign team will need to collaborate. For example, possible donors will not give money to your campaign if they do not know who you are or what your message is. Therefore, it is incredibly important to have a solid advertising campaign to get your face out there. Your advertisements need to convey a message that resonates with individuals that have an ability to write checks.
- In addition, you should work with your scheduling team to make sure you always make time for donors.^{[8]XResearch source}
5
Rank your targets. A successful campaign finance strategy will rank your targets based on their ability to contribute, propensity to contribute, and the fundraising tool needed to reach them. This spreadsheet can then be used to determine the order in which people should be contacted and how they should be contacted.
- For example, try using a coding method to help you rank your possible donors. Use the letters A-D to define the relationship the possible donor has with you. A might connote the person is a close friend while D might indicate the person is a mere acquaintance. You could then use numbers to indicate the donations the individual is good for. If you think someone is willing to donate $100, then use the number 100. Finally, you should indicate how each person likes to be contacted. If someone likes direct mailings, make a note of that.
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Part 3

Part 3 of 3:

Raising Money

1
Find volunteers. When your team is in place and your strategy has been perfected, it is time to put all of your efforts to work. However, you will need a team of people to help raise money on your behalf. The larger your campaign is, the more people you will need. Volunteers become indispensable here. Have your team talk to anyone they know about helping your campaign efforts. While you will not need to pay your volunteers with money, you should take care of them in other ways.
- For example, provide your volunteers with a good meal every so often. Bring in pizzas to your campaign office once a week for the people giving their time to you.
Each type of fundraising activity requires different skills. Try to match each volunteer with a task they are comfortable with. Phone calls are generally reserved for larger donors, so you may have your staff make these calls or you might even make them yourself. Find volunteers that are comfortable holding a conversation with someone. Also, use people that understand your political message and how money will be used to further that message.^{[9]XResearch source}
Mass mailings can be printed cheaply and can provide donors with a quick and easy way to donate to your campaign. This method is often very effective for smaller $5 and $10 contributions. With that said, do not take these donations lightly; they add up quickly and make a big difference in your campaign. In addition, the people donating this type of money are often giving up hard earned money in order to help you. Make sure they feel appreciated.
4
Hold fundraising events. Face-to-face meetings should always be conducted with high dollar donors.^{[10]XResearch source} If individuals are giving you a lot of money, they will often want to meet with you to make sure your goals align with theirs. When you conduct these events, make sure all potential donors feel comfortable and make sure they are being taken care of. Consider holding these events at someone's home where you can speak freely and honestly with a small group of your closest supporters.
- In addition, these events, in part, are held to thank the individuals kind enough to support you with large donations.
5
Write personal letters. Fundraising letters should be clear, concise, and easily readable. Use bullet points, headings, and bold writing to get your message across. Be sure to personalize these letters by using names, "I" and "you" throughout. The letter should always state your campaign is strong but that you need more money to keep it going. Do not be afraid to ask for money multiple times in your letter. Finally, tailor your letter to the people you are sending it to. Your base may not need as much convincing as swing voters.
- When you write these letters, be sure you are not implying that financial support will result in special favors down the road. This is not allowed and will get you into trouble.^{[11]XResearch source}
6
Set up a tracking system. Make sure you keep track of the money coming in, who it is coming from, and how it is being used. Your campaign team will need to know how much money is available and how much is being allocated to each division. This will also help your team know what other possible donations are out there.
- Try using a spreadsheet so you can pull up this information easily and immediately when necessary.^{[12]XResearch source}
7
Say thank you and ask again. As soon as you receive a donation, send a thank you letter or make a phone call to show your appreciation. Donors want to make sure you recognize their efforts, no matter the size. If a donor gives you $25 and receives a thank you, they will be much more likely to donate again.
- In addition, if a donor has contributed the maximum amount allowed by law, a thank you may incentivize that donor to go out and recruit others to donate to your campaign.^{[13]XResearch source}
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