The Golden Ticket For Business
Mаnу thаnkѕ and a tір о’ thе hаt tо “Imрасt a Lіfе” ѕсhоlаrѕhір writer Eric Estrada fоr tаkіng оn thе fоllоwіng еѕѕау tоріс ѕо сrеаtіvеlу:
Dеѕсrіbе hоw a buѕіnеѕѕ (іnсludіng rеtаіl аnd ѕеrvісе) саn dеrіvе рrоmоtіоnаl and сuѕtоmеr lоуаltу/rеtеntіоn bеnеfіt bу utіlіzіng a rаfflе in thеіr mаrkеtіng еffоrtѕ.
Eric is planning on attending San Francisco State University. Thаnk уоu ѕо muсh Eric fоr your unique and wеll-dоnе essay – аnd bеѕt оf luсk wіth уоur ѕtudіеѕ!
“Impact a Life” Scholarship contributor: Eric Estrada
Yоu саn hеlр Eric Estrada’s pursuit оf a scholarship award bу сlісkіng the “sharing іѕ саrіng” buttоnѕ bеlоw.
We all wish we could be Charlie from Willy Wonka and the Chocolate Factory and have the golden ticket to a prize beyond one’s wildest dreams. Imagining that is simple, but in reality, no one thinks about why a company holds a raffle. Raffles can use a small prize to generate a big outcome. This game of chance utilizes the idea that anyone that enters can be a winner because there is no skill required. However, for the raffle holder it is a calculated marketing tool used to promote and draw in customers to a business. By incorporating raffles in marketing strategies businesses build familiarity with potential customers, which leads to increased customer interest and brand establishment.
Raffle drawings build familiarity between a business and its customers because it is one way a business creates a relationship with customers. This can be said for both known and unknown companies who are trying to promote their brand. For example, I once attended a PC gaming conference and one of the companies at the conference was the hard drive company Western Digital. While visiting their booth a representative told me about the hard drives on display and how to enter their raffle to win one. The prizes interested me, and although I did not win the raffle it was a perfect opportunity for the representative to familiarize me with Western Digital and their products. The raffle was the start of my customer relationship with Western Digital. Raffles are an easy way for businesses to engage with new customers, tell them how their business can benefit them, and attract other potential customers.
Another thing raffles can do is increase customer interest in a business. An intriguing raffle prize piques customer interest, generates promotional traffic, and increases exposure by word-of-mouth among customers. Once customers are familiar with a business, they are more likely to be attracted to that business. Interested customers will do more research to see what else the business can offer them. This satisfies the customers’ curiosity for the short term and gives the business more potential sales. For instance, at another conference I attended I came across a gaming monitor company called Gaems. I had never heard of Gaems before the conference. At the conference the company was raffling off one of their portable monitors. The raffle introduced me to this company and interested me in the short term. Afterwards I began following their social media pages which have kept me engaged with the company well beyond the conference. This shows that if a company is strategic in its marketing they can generate short and long term interest which can increase sales. By updating customers through emails and social media businesses can retain customer interest and loyalty while continuously exposing their brand.
Furthermore, raffles assist in establishing a business’s brand. If a business has a well-established brand customers are more inclined to trust and buy from that business. For example, Western Digital used the raffles as a tool to interest gamers such as myself to buy and use their products. Then by delivering a quality product, they have built a reputation with their customers and have established themselves as a leader in hard drive development. Not only have they established themselves among their customers, but they have also established themselves among their competitors. Western Digital has become an innovator in their field by developing hardware that their competitors do not offer. Also, raffles help lesser known businesses establish themselves by using a prize to draw in customers. By attracting customers, these businesses can develop and grow their brand. Once a brand becomes known, people will be more attracted to that business’s raffles which can generate more sales.
By using raffles businesses are able to build familiarity with potential customers, increase customer interest and establish their brand. Yet all of these things are a coordinated effort used to promote and ultimately sell customers on a business. Raffles are a game of luck used to draw in potential customers and increase sales. This marketing strategy gives people the opportunity to feel like Charlie from Willy Wonka and the Chocolate
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