A Raffle Based Reward System For Your Businesses by Sarah Vanderpool

 A Raffle Based Reward System For Your Businesses by Sarah Vanderpool

 

In this day of age, businesses are all about profit motive. Whoever can get the most amount of money in exchange for the least amount of money spent will reign superior. These businesses be they retail or service, can develop promotional and consumer loyalty benefits by using a raffle based reward system in th eir marketing efforts. Not only will they increase their customer fidelity, they will also entice new members to join because of their boost in publicity benefits.

Raffle tickets are normally shown in a good light. Unlike other types of gambling, more people are apt to place a bet on winning in a raffle. Not only do they think that their stakes are lower, they also believe that they can win more often. This mind set is good to have them buy more tickets as well. The business gets revenue from the people buying the tickets and in turn, the patron gets the satisfaction that they have a chance at not going home empty handed. If there is incentive to stay and win “free” money or prizes, it is almost impossible by human nature to pass up that probability.

These tickets will also bring in new members. The hardest part of getting a customer in the door, is getting them in the door. Once you have them in, however, then is the time to promote your product. The initial thrill of giving free things away is ingrained in many human beings. Having a reward system inside a store, business, or website lures in the unsuspecting consumer. Billboards and television shows are great, but what is more alluring is the thought that the audience can benefit themselves. Match those two together and you have the possibility of reaching tens of thousands of people that are clamoring to your businesses. If they can get something good for themselves out of it, they are more apt to look into it. There never once has been a commercial that wants you to spend money on something you won’t get a good deal for. They are always flashing a big FREE sign with a smaller font beside it reading: with a purchase of two or more items, an arm and a leg, and your first born child. Raffle tickets are the same way. It is like dangling a carrot in front of a donkey. The appeal makes it seems like, with only one small purchase, you can get so much more out of your investment. People are greedy by nature, so if they can get more out of less, they’ll jump on it.

These are just a few reasons why using a raffle based reward system in a businesses would be a reasonable thing to do. Not only would it bring in more customers increasing profit, it would keep the members it already has. Gone would be the days where members leave to another company because of extra benefits. This would be a good way to also cater to the younger generation. College kids and young adults that are not very well off will want to look into a business that allows them to possibly get more money or items then they paid for. This will be incentive to look at a business and stay with it. Profit maximization and customer service will be positively affected if raffle tickets are implemented in businesses’ marketing efforts.

 

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Contributed by Sarah Vanderpool

November 5, 2015

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