As the United States of America gears up for the most anticipated election year, the race is heating up, with both major political parties pouring tremendous resources into their campaigns. Budgets totaling millions of dollars are being allocated, and recent reports from Time News highlight that Kamala Harris, a Democratic candidate, is outspending Donald Trump by nearly $5 million a day. This trend of heavy campaign spending is not just in the U.S, just last year, Nigeria witnessed a remarkable display of financial might as one of its presidential candidates Bola Tinubu, now the president, spent over 1 billion naira (approximately $2.6 million) daily during the peak of his campaign.
In this climate of massive spending, entrepreneurs should take a moment to seize the opportunity to their advantage, as one of young political enthusiasts from Malawi who is currently working with a major political party ,Mr. blessings white puts it
"During campaigns,politicians dont really care about how much money they are spending and where it is going and for what purpose, all they really care about is winning, so its not a question of where the money goes but who wants it" .
So the surge in political advertising, public rallies, and grassroots movements creates a unique landscape for businesses to thrive.
One business that stands out is digital marketing. As candidates enhance their online presence, businesses can leverage social media and digital marketing strategies to connect with voters. For instance, a popular platform in Malawi, Zodiac Online, offers advertising services to various political parties and broadcasts campaign events live. Additionally, targeted advertising and influencer partnerships can help brands tap into the political conversation and engage a broader audience. Notably, during elections, media influencers, including artists, often endorse political candidates and participate in campaign advertising, further expanding their reach and getting money out of it.
Additionally,Party-themed merchandise has long been a key of election campaigns. These products, which now include T-shirts, hats, bottles, cups, and wrappers, are vital resources for endorsing political figures and parties. However, a large amount of these products is outsourced from overseas in several nations. For instance, in Zambia, a large number of campaign textiles for various parties were imported from China. For local business owners, this dependence on imports from elsewhere offers a significant opportunity. They may access a profitable market and keep earnings inside their own economy if they were to create these goods domestically in response to this demand. Through the utilization of local resources and production capacities, business people may not only satisfy the increasing market but also generate employment opportunities and booster the nation's economy. This change could lead to a decrease in reliance on foreign suppliers and the establishment of a strong domestic election campaign sector.
Exclusively taking advantage of the election period to boost business is one of the most significant strategies every business individual and entrepreneur can employ. While there are numerous ideas that can thrive, such as selling food or beverages during rallies, it is essential to consider the broader picture and identify ideas that have the potential to generate substantial profits. One of the most lucrative opportunities is event organizing. During the campaign season, we frequently see stages and podiums being built for rallies, and it is easy to assume the political parties themselves arrange these setups. However, these are often the work of independent businesspeople whose services are in high demand during this time due to the sheer volume of rallies and events.
Speaking with one of the event organizers at Liri Architecture Technology Co. Ltd., they highlighted the importance of adopting a broader perspective. They emphasized that businesses should look beyond the immediate opportunities and focus on the full spectrum of services that can be offered. This includes not only constructing stages and podiums but also providing sound systems, lighting, and other infrastructure required for large-scale political events. As campaign seasons tend to attract massive crowds, there is a continuous need for logistical support, entertainment, and security services, all of which present lucrative opportunities for. By tapping into these diverse avenues, businesses can maximize their profits during election time while ensuring long-term relationships with clients that extend beyond the campaign season.
