A Prize Raffle is an Amazing Way to Promote Business
If you are looking for a unique and exciting way to promote your business, youâ€™ve come to the right place!Â Jonathan Love lays out the â€œwhyâ€™sâ€ and â€œhowâ€™sâ€ in his thought-provoking â€œImpact a Lifeâ€ college scholarship essay.
Jonathan is a student at Georgia Southern University and his major is Logistics and Operations Management.
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â€œImpact a Lifeâ€ Scholarship contributor:Â Jonathan Love
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In today’s time owning a business can be very exciting and very fulfilling. You can ask any CEO or owner of a company either in service or product and retail and they will tell you they enjoy what they do. A big part of your business, of course, is generating money and with this, you will need sales. If you are in retail this is the only way you will generate income and if you are a service provider you need sales for your service. That being said for your company to still create money and be a competitor in your market you must obtain and keep customers.
An amazing way that you can obtain new customers or keep your loyal customers is a prize raffle. You can have either a cash prize or discount on your product or even buy something to give away in the raffle i.e. (new car, TV,). By doing this it will generate an interest in the customers because consumers love winning things. You can also increase your presence on social media by this saying you must follow the company to see who will win the contest so this is an added bonus.
One way you can get people to enter the raffle is they must purchase a product or purchase your service. This is a good route to take when doing the raffle because you are generating sales while creating opportunities to give back to customers. Also, set the time you can purchase in a small window so that you create a sense of urgency and the customer will purchase an item or service to enter.
Also when doing the raffle give lower winning prizes for the second and third winner. The reason you would want to do this is that it gives the customer the incentive and idea that they will at least something. Also, it increases the probability that someone will win something. So for instance, if the prize is a $1000, USD you may have a second place for 800USD and third for 600USD.
Another way this could increase advertising with a raffle is reward people who share or recommend the contest. For instance, you get have them enter on the business website and everyone who enters a gets referral code. When they get the referral code if people use their code they get an extra draw or more chances to win. This will put new viewers on your page which could possibly convert into sales if they stay on the site long enough so this is another bonus.
Also from the website RaffleTicket.Com, it brings out that you should make this a recurring event. You can do this yearly or maybe even quarterly if you feel that it is benefiting your business enough. When you do this it brings back the same customers and contestants and creates a lottery effect. A customer may get very close to winning and it will bring the back hoping they will win the contest. It also can attract past winners and will bring out the excitement to do the raffle.