The political culture and landscape is continually in flux. These dynamics can change overnight without warning.
Whether your cause or issue is at the local, state, or federal level, this is one area where what you know is as important as who you know. Understanding the issues and measures that elected officials are vetting as possible fixes are just as important as connecting with the decision-makers equipped to influence the outcome.
Here’s what professional lobbying can do for your business.
The Value of Professional Lobbying
Some companies believe they can effectively handle their government relations efforts internally. Maybe they have friends with connections, or they are acquainted with a particular elected official that has shown interest in a matter that’s important to them.
That’s a valid way to have your voice heard. However, while it never hurts to network with influencers, professional lobbyists have been shown to provide the strongest outcomes and return on investment for businesses.
In one study, researchers found that companies lobbying passage of the American Jobs Creation Act of 2004 received a 22,000 percent on their investment. This was due to being granted a tax holiday for repatriated earnings. And the ROI has sometimes climbed even higher – drug companies have been known to earn a 77,000 percent return on their lobbying dollars.
What makes a professional lobbyist so valuable? In addition to their valuable connections to influencers and lawmakers, a professional lobbyist also comes armed with a strategic government relations plan and a team to make it happen.
Consider the fact that elected officials are inundated with constituents and their concerns on a daily basis. A skilled lobbyist is a trusted source to filter through the noise to identify the critical issues and possible solutions, and can even become a strategic partner on legislation!
Collaboration on Legislation
You’re probably aware that lobbyists can propose ideas for new legislation or request changes to bills under consideration – but did you know that lobbyists can help compose legislation too?
Well-composed legislation can be as beneficial for a member of a legislative body as it is to private businesses. Legislative members are voted into office to legislate, which means passing effective bills. Constituents often equate a member’s success to the quantity and quality of legislation that they pass. Consequently, businesses and organizations can boost a member’s favorables when they use their expertise in collaboration with lobbyists to write or collaborate on effective legislation.
From proposing ideas to actually composing favorable pieces of legislation, a professional lobbyist can have a powerful effect on your business’s bottom line.
Embrace the Potential of Lobbying
Is your business doing as much as it could be to influence the legislative process? With a strong government relations program, your business could see a potential impact in the ten-of-thousands of percentage points. Where else can you get that kind of return?