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 September 22, 2010

Money Bomb 101
Money Bomb Trivia
Ron Paul's 2008 presidential campaign was the first to use the money bomb and coin the name.
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Hello Friend! ,
 

Money BombWe're in the final weeks of the campaign and coming to the end of the quarter, which means the end of the FEC reporting period.  Do you need to add some oomph to your fundraising?  How about a money bomb? 

 

Money bombs can raise a lot of money in a short period of time and infuse new enthusiasm into a campaign.  Well run, they can generate $100,000 to over a million dollars for congressional candidates in a couple of days!

If you want to run money bomb, here are some tips to consider.

·         Schedule the money bomb for a short, finite period of time.  24-48 hours is probably best, but some run for as long as a week.  You want to create a sense of urgency for supporters to donate.

·         If possible, coordinate the money bomb with an event to help promote it.  For example, the event can be something like the end of the quarter (let supporters know that you need them to help the campaign demonstrate strength) or a national or local holiday or a campaign appearance.

·         Set a fundraising goal.  Make it achievable - better to make the goal too low than too high.  People like to be part of a success.  And, if you exceed the goal, you can always increase the goal midway through, due to "overwhelming response".

·         Suggest an amount for people to donate.  Depending on the size of your audience and your goals, you might suggest as little as $5 or $25, but make it doable.  You might associate the suggested donation with a number significant to the campaign.  For example, "we have 32 fundraising days left - can you help with a dollar a day, $32?"

·         Track your progress against your goal visibly on the home page of your website to help generate enthusiasm.  Add it to your Facebook page.  Tweet about it.

·         In each appeal for donations, succinctly remind people what you stand for.  Make sure they know why they should click over to your website immediately to donate.

·         Develop a promotional plan.  This is key.  Promote it in advance to build awareness and excitement.  Use multiple online media to be sure that your targeted supporters see your message and are inspired to act.  Email messages to your in-house list are a must, but not enough.  Develop a plan that includes targeted online ads (text and banner), ads in targeted newsletters (e.g., Townhall.com, gopusa.com, etc.), dedicated messages to third party lists.  The more visibility and excitement you create, the more likely people are to donate to help you reach your goal.

  
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