A very common question people asked when it comes to election season is, how politicians are able to fund their campaign and to where it comes from? Just as with businesses in different industries such as MehrBartwuchs, it is important to prepare a budget for the campaign. This makes it critically important to have a well-strategized political campaign budget.
Resources are Limited
After all, not everyone has unlimited resources and everything has to be accounted for. Believe it or not, a lot of campaigns fail for not having a strong budget plan on where its resources should be directed. In the next lines, it will show the guiding principles on how to build a sound and effective campaign budget.
Check Past Campaign Budget
A great way of answering the question of how much should be raised for the campaign is by looking at other similar campaigns. Additionally, it is essential to take into account the past campaign’s budget. Did they have a general/primary election? Was it for a multicandidate field or just intended for 1-on-1 race?
Focus with Your Goal in terms of Vote
The ideal place to draft the budget for your political campaign is by having a forecast of the vote numbers. It is imperative to research of the previous vote history. From there, try to find out how many votes you need in order to win the election and then, calculate your vote goal.
Once everything is set and done, you may now start creating your budget that’ll help in getting these numbers. Throughout the process, you have to ask who will be the voters that’ll make a winning coalition and to what would be the best way of reaching them.
Different Budgets for Different Activities
In the initial process of drafting your political campaign budget, it is strongly recommended to prepare 3-budget levels which would be the:
- Cadillac or your best-case scenario budget
- Middle budget which is more of the realistic expectations and lastly
- Your worst-case scenario budget if ever the fundraising does not go as planned
From there, it must give you an idea of how you should be spending your money for your political campaign depending on each budgetary level.