Welcome to the first issue of the new-and-improved (but not lemon-scented) Fundraising Hot Tips e-newsletter.
Let’s get right down to it.
Whether you’re a seasoned campaigner or a still-wet-behind-the-ears “newbie,” here are the three biggest mistakes I see candidates make when it comes to fundraising.
1.) No Path to Victory
A prospective donor might agree with you on 100% of your issues. But unless you can demonstrate a viable, credible path to victory…fuggetaboutit.
You may be anti-tax, pro-gun, and love babies. But if you’re a Republican running in a district with a 2-1 Democrat registration advantage against an entrenched incumbent with a bottomless warchest – good luck getting donors to pry open their checkbooks.
To make your case – and you must if you expect donors to part with their cash – you need to know exactly how many votes you need to win and be able to demonstrate a credible plan for getting them.
When it comes to fundraising, it’s not so much about the issues as it is the math. And as they say on Shark Tank, you better know your numbers and be able to justify them.
2.) You vs. Them
I call it the “I-Disease.”
Candidates who constantly talk about themselves – I did this, I did that, I stand for this, I stand for that, I got this, I got that, I, I, I, I, I.
No. Voters are tuned into WIFM: What’s in it for ME?
You’re the candidate. Great. They know what YOU want. They know what YOU need. Their money.
But what do THEY get? How to THEY benefit?
Crack that code. Refocus your attention on THEM – and THEY will be far more likely to give to you.
3.) ASK!
The #1 reason people don’t give to a candidate or a campaign is very simple: Nobody asked them.
Very few people wake up in the morning and ask themselves, “Hey, I wonder if Joe Smith could use a contribution today?”
It’s almost biblical: “Ask, and ye shall receive.”
This is why I like candidates with a strong, successful background in commission sales: real estate, cars, insurance, etc.
They’re used to “asking for the sale” and aren’t dissuaded by the “No’s.”
Again, it’s all about the numbers. And if you have a credible path to victory and make your pitch about them and not you, the more you ASK, the more you’ll hear “Yes.”
It’s not a question of whether you can do it. It’s whether you will.
Much more on this – in detail – coming in the weeks and months ahead. Have a great weekend.
Cheers!
Dr. Chuck Muth, PsD*
Professor of Psephology
(homeschooled)
* Psephology (n): The study of campaigns and elections.