Posts Tagged ‘Fundraising’

Choosing the Right Lt Gov can be a Game Changer

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Over the next 17 months, there will be 37 governors who will either be elected or reelected. In many of these states the candidates running for governor will have to choose a Lieutenant Governor candidate. One of the key factors to consider is the fundraising support they can add to the ticket.

Here is my analysis of what kind of candidates might exist out there for a gubernatorial candidate to help maximize his or hers’ fundraising potential heading into a general election.

  • The Millionaire – any candidate who has the ability to self-fund can instantly change the fundraising ability of a gubernatorial candidate and his ticket. This would likely be the best match for a candidate who needs cash fast in order to level the playing field. Any Lt Gov who can quickly infuse a few hundred thousand into a close race could be a game changer.
  • The War Chest – some politicians have been around for years stockpiling huge sums of cash. Anyone that has done this would be a great person to add to the ticket as instantly bring cold, hard cash ready to be used. Only a few potential candidates have significant war chests that could make them a good candidate.
  • The Instigator – in recent years we have seen many politicians become very successful fundraisers by always being at the center of controversy. “Wingnuts” as many of them are referred to as; usually make great fundraisers but terrible candidates. Think Michelle Bachman, Alan Grayson, or even Sarah Palin.

While there are many, many ways for a good Lieutenant Governor candidate to add to their tickets fundraising successes these are just a few categories that they might want to consider before deciding on who to slate with them for next election.

By Nick Daggers, Vice President, Fundraising

 

Free Advice: Start Raising Money Yesterday

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Whenever an aspiring candidate asks the question, “when do you think I should start raising money?”  my answer is always the same – yesterday!

I cannot begin to count the times I have joined a campaign right before a critical fundraising deadline. And yet there are countless reasons why raising money early on can be pivotal.  For example, in order to build a successful fundraising operation you must first create a good infrastructure of data and lists. Moreover, early money can create other opportunities that will give you the greatest chance at success.

A good fundraising operation can very easily built if the campaign has a good base of data. Almost any good fundraising operation will start by organizing and sorting (hopefully) hundreds of personal contacts of the candidate. This step can take a considerable amount of time, in many cases candidates will hand their fundraiser a stack full of business cards, their holiday list, (and my favorite) cocktail napkins with notes scribbled on them. Deciphering this data can take a great deal of time and detective work. Usually, this work can be done months before a candidate is ready to announce his or her candidacy. Once some sort of manageable list is in order, the candidate is ready to hit the phones!

By getting a head start on fundraising, the candidate do things other than just spend hours in a dark room on the phone. Many candidates quickly grow tired of call time and want to get to meet voters and campaign for office. However, if they cannot do this until they hit some of the early fundraising benchmarks. By buckling down early and spending hours of the phone can definitely free up the candidates schedule to spend a few more hours a week shaking hands and kissing babies.

Finally, the greatest reason a candidate should start raising money sooner than later is that it will give them the greatest chance at victory. This should be reason enough to convince candidates to start raising money in April instead of June, but that is not always the case. The facts do not lie in many cases the candidate who jumps in early and raises money the fastest can have a greater chance at victory. Early money is a demonstration of strength to both potential opponents and pundits. An early start will also give you a chance to jump out to an early cash advantage, that in some cases your opponent might never be able to catch.

Every candidate could use some free advice, so to those of you thinking about running for office in 2014, 2015 or even 2016, remember it is never to early to start fundraising. An early fundraising start will give the opportunity to build a solid infrastructure, allow the candidate more time to campaign, and most importantly give you the greatest chance at victory.

By Nick Daggers, Vice President, Fundraising

What Can We See in Q1 Reports?

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In addition to being tax day, April 15 was the deadline for federal campaign committees to file their first fundraising report of 2014.

The amount of activity contained in these reports helps us speculate about what implications these numbers may have with respect to the 2014 elections.

Power of Incumbency – One of the most obvious signs of these early reports demonstrates is the advantage of being an incumbent. This past January, eighty-one freshman members of the US House were sworn in. Of those eighty-one, twenty-five raised over $250,000 in the first quarter of this year. Many of these incumbents are expected to be somewhat vulnerable heading into the next election.    Challengers simply do not have the resources and apparatus to  raise the kind of money that incumbents can at such an early point in the election cycle; many of them have yet to even declare their candidacy.

Therefore,  incumbents have the benefit of a de facto head-start in the fundraising race. Only a handful of vulnerable members have opponents eighteen months before the next election.   This means that  incumbents often have somewhere between a  $300,000-$500,000 head start before they even have a declared opponent.

A Glimpse of the Future – These numbers may also provide insight into whether an incumbent is considering a run for higher office in 2014.

House members Gary Peters (D-MI) and Tom Cotton (R-AR) are two potential examples of this. Peters proved his fundraising ability by netting $371,000, and in turn, demonstrated that his legitimacy as a possible contender to replace the retiring Senator Carl Levin (D-MI). Cotton is rumored to be considering a challenge to Senator Mark Pryor (D-AR); he raised $526,000 over the past three months, which places him at the front of the pack for Senate challengers.

These reports also show the opposite; that some incumbents are not ready or willing to make a run for higher office. Many in the Tea Party had dreams of Steve King (R-IA) running for the open Senate seat in his state, even though the Republican establishment was rooting for his colleague Tom Latham (R-IA). Latham seems to have won this round by raising $300,000 – more than three times what King raised(amounting to just under $93,000).

Thinking about a Comeback? – We can also look at the reports of members who lost in November to see who is plotting a comeback bid. The quickest way to identify a candidate not considering a bid is to look at who has terminated their campaign committees. Already over 100 campaign committees from 2012 have closed including defeated incumbents on both sides of the aisle.

We can also look at committees that remain open to see who might be thinking of a comeback or considering retirement. The outspoken former Congressman Allen West is likely not considering another bid; his committee transferred $400,000 from his committee to his non-profit foundation. There are also signs from losing candidates that might be considering another bid. Those committees tend to hold onto as much of their cash-on-hand as possible and spend on some limited expenses like polling, fundraising, and paying down debt that could inhibit a future run.

By Nick Daggers, Vice President, Fundraising