Fundraisers are an essential part of campaigning, regardless if it’s the local election and the candidate is strong. They also allow you to get close to members of the community and land big donors in the process of growing your base. An important factor between a successful fundraiser and a financial flop is the ability to get passionate and engaged people at the event.
The idea of raising big amounts of money in a short time span might seem intimidating, but if a strong plan is set up then the fundraising can prove to be successful and enjoyable at the same time. Besides simply raising funds, the finance team has to do it in a cost-effective manner, and their financial plan has to ensure that the campaign is funded throughout the election cycle, making sure that spending is proportional.
NGP VAN suggests a number of steps in order to make sure the fundraising is a success. NGP VAN is a voter database and hosting service provider, used for Democratic campaigns and other organizations authorized by the Democratic Party. Their platform is ideal for political and social campaigns, their mobile app being used for canvassing, allowing campaigns to contact potential voters and making canvassing more time efficient.
Setting a fundraising goal, planning fundraising tactics, and creating a fundraising calendar are a few of the key elements needed for effective fundraising, according to NGP VAN. The finance plan is the most important strategic tool, which means setting up one has to be first on your priority list. Once you map out your campaign’s goal and how to reach it, you will diminish the risk of costly mistakes along the way.
After you map out your network – in order to know who you will reach out to, it’s time to start actually raising money. This is when you will have to employ your fundraising tactics and get the most out of each tactic you use. Common tactics are direct mails, fundraiser events, telemarketing, and fundraiser events.
In order to plan a fundraising event, NGP VAN suggests that you first determine the time, date and location of the even, and create a budget. Next you will have to recruit a host committee, collect lists of people to invite and finally recruit volunteers which will assist at the event.
Fundraising events can seem like an intimidating venture, but if every step is carefully planned then it can turn into a success. Besides the invites, you will have to coordinate the logistics (food, speakers, etc.), prepare the candidate and ideally do a practice walk-through before the event takes place. Keep in mind that if you want donors to continue to support you throughout the campaign you will have to keep them happy.