Political experts say this presidential election could have gone either way.
But why couldn't Republicans seal the deal with voters and what does that mean for 2016?
Going into the presidential election, it was anyone's victory.
When the votes were counted President Barack Obama came out the winner.
"His target all along was to build up a firewall key states in the midwest that would be hard for Mitt Romney to crack into places like Ohio this time obviously Wisconsin and then really target a get out the vote campaign that was exceptional," said Chris Borick, Director of the Muhlenberg College Institute of Public Opinion.
Borick says a troubled economy, high unemployment and a controversial health care plan lowered Obama's approval rating among voters but Republicans were still unable to seal the deal with voters.
"Unseating an incumbent is like defeating the heavy wight champion of the world, you have to knock him out and to the president's credit he was able able to avoid the knock out blow," said Lehigh County Republican Chair Wayne Woodman.
Wednesday Republicans are looking back at Mitt Romney's campaign and forward to what needs to be done to prepare for 2016.
Woodman said this election was heavily influenced by social issues.
"Using a message of limited government to someone who may be involved or dependent on government isn't a message that is going to be effective. We have to become engaged with those people," said Woodman.
Woodman says the Republican party must also do more to appeal to a larger group of women, minorities and younger voters.
Understand their values and how the principles of the party can help better the lives of the electorate.