PACs are facing several fundraising challenges today. First, the broader economic environment has tightened finances for many Americans, making them less inclined to donate. Second, companies facing layoffs mean that some longtime PAC contributors no longer have jobs. And third, millennials and younger generations are increasingly questioning the value of PAC contributions and the impact of their donations.
While these hurdles are significant, they also open the door for innovative fundraising solutions. Here are six strategies to help PAC managers effectively grow their fundraising:
1. Board Contributions
Make sure your board and directors are contributing at a 100% level to the PAC. A best practice here is to include the PAC solicitation form in the same annual paperwork directors complete for their compensation. By making it standard and easy, this can raise between $60,000 to $100,000 annually.
2. Leadership Engagement Events
Drive contributions from the C-suite, EVPs, SVPs, and VPs by hosting exclusive events, like a gathering at the CEO’s home, only accessible to max-out PAC donors. These events create a clear “fear of missing out” and incentivize participation from senior leadership.
3. Exclusive PAC Donor Experiences
Hold special events that highlight the benefits of PAC membership. For example, one organization holds two breakfasts at their annual sales meeting: a modest continental breakfast for non-PAC donors, and a vibrant, DJ-enhanced event with premium food for PAC donors. This clearly demonstrates the perks of participation.
4. Limited-Edition Branded Swag
Create company-branded, must-have items exclusively for PAC members. For instance, one company annually releases a limited-edition tie or shawl featuring its latest consumer product. This swag generates buzz, reinforces company pride, and visibly signifies PAC involvement.
5. Charitable Matching Programs
Attract younger donors by matching PAC contributions with charitable donations. For instance, some organizations offer a two-to-one charitable match for every PAC donation, allowing employees to support their personal causes while contributing to the PAC.
6. Effective Peer-to-Peer Campaigns
Implement a strong peer-to-peer recruiting program. Recognize top recruiters who bring in new PAC donors by offering incentives like special PAC trips, fly-ins, or unique swag packs. Peer recommendations are highly persuasive, making this a powerful method for boosting PAC membership.
By adopting these strategies, PAC managers can overcome current fundraising challenges and ensure sustainable, long-term growth. Modern software like Quorum PAC can help you raise more funds while staying compliant. Plus, you can also take advantage of our PAC Compliance Services, where our team of PAC experts will do all the heavy lifting for you.