Guide to Create a Healthy Political Campaign Budget

The most important part of any political campaign is the budget. How you spend your money will impact the success or failure of your campaign. A well-thought-out budget will allow you to maximize your resources and get the most bang for your buck.

Creating a budget can be intimidating, but it doesn't have to be. The political consulting firm will help you create a budget that fits your needs and ensures you have the resources to run a successful campaign.

Here are some tips for creating a healthy political campaign budget.

How Do I Create a Campaign Budget?

When finalizing a budget, you first need to consider your campaign goals. What are you trying to achieve? Once you understand your requirements, you can begin allocating funds.

An effective outline should show how much television, mail, online advertising (Instagram, Facebook, and other social media), field voter contact you wish to conduct, and the associated overhead costs required to achieve them.

Keep in mind the amount you believe you can realistically raise while preparing your budget so you can pay for the expenses you identified as essential.

Once you've determined how much money you'll invest in voter contact or political advertising, start entering the overhead expenses. Overhead costs should be kept to a bare minimum, and they should only be incurred when they help your campaign attract more people. After establishing your expenses, you'll know how much money you'll need to raise.

Break down your planned budget into weekly segments for further explanation. This breakdown will allow you to track how far you've gotten in your campaign and whether it's going into the red, pass-through expenses, or how much money you have (COH). To mention a few key metrics that should be included in your campaign budget.

The budget should also be designed to help you track your progress. This means setting up a system to track donations, expenses, and campaign spending.

Why Is It Essential to Budget Correctly for a Campaign?

Budgeting is key to any campaign's success. It allows you to assign your resources in the most efficient way possible and ensures that you have the funds you need when you need them.

A well-executed budget will also help you track your progress and ensure that you are on track to meet your goals. Without a fixed budget, it can be difficult to tell if you are making progress or if your campaign is going off the rails. Political campaign strategies are essential, but they mean nothing if you can't afford to implement them. So, creating a budget is the first step to ensuring that your campaign is successful.

How much Does a Political Campaign Cost?

Depending on a variety of elements, your campaign's budget might vary considerably:

• The kind of race you're competing in
• The competitiveness of the competition
• What you can do with donations, what your fundraising capabilities are, and so on.
• The size of your state or district
• Larger states and districts will generally require more money to reach all potential voters.
• The level of name recognition you have starting the race
• If you are already a well-known figure in your district or state, you will need less money to introduce yourself to voters.

What Are Some Campaign Expenses?

As a rule of thumb, most political campaigns consultants set aside no less than 70% of their budget for voter contact, use no more than 15% on personnel and keep the rest for miscellaneous costs and overhead. Therefore, increase your voter contact budget if spending 15% on personnel or overhead isn't required for your campaign.

While your campaign will incur expenses regularly throughout the election cycle, the bulk of the money you raise should be spent in the final months before voters are most receptive to sponsored communications and contact from your team. Therefore, consider how much money your campaign will spend on voter contact and communications throughout the race, and then set aside a bare minimum amount.

Why Should I Save My Money?

The more money you spend on items that don't reach voters, the fewer votes you will receive. To ensure that your campaign is successful, you should keep operational and discretionary expenditures as low as feasible. Budget only if necessary. For example, it may be tempting to invest your campaign money on plush furniture for your workplace early on. Still, you might be able to locate a volunteer who is willing to give you in-kind leftover office furnishings so that you can spend your campaign funds reaching voters.

In short, every dollar spent on non-essentials is a wasted opportunity to connect with voters and earn their support.

Reconciling Your Budget with Fundraising

Once you've established a budget and financial strategy, you'll want to track income versus the plan to ensure your original strategy is still viable. If the amount you planned at the beginning of the campaign was beyond your fundraising capacity, you should adapt. If you find that your fundraising goals have been met or exceeded, consider whether additional investments in voter contact or other communications will pay off.

Read here to know 8 steps to map out voter contact master plans.

In Conclusion

Budgeting is a critical part of any political campaign. With the help of a political consulting firm, they will understand how much money you need to raise and what your campaign's expenses are. As a result, you can allocate your resources in the most efficient way possible. This will help ensure that your campaign is successful.

Don't forget to regularly track your progress and reconcile your budget with your fundraising efforts to ensure that you are on the path to meeting your goals. You can run a successful political campaign on a shoestring budget with some planning and forethought.