A Raffle Can Be A Very Effective Way to Market Your Business
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Josh is a student at J Sargeant Reynolds Community College , and is working towards a degree in Mechanical Engineering. ThÐ°nk ÑƒÐ¾u so muÑh Josh fÐ¾r ÑƒÐ¾ur excellent ÐµÑ•Ñ•Ð°Ñƒ – Ð°nd bÐµÑ•t Ð¾f luÑk with your Ñ•tudÑ–ÐµÑ•!
â€œImpact a Lifeâ€ Scholarship contributor:Â Josh Keeler
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Using a raffle is can be a very effective way to market ones business. The first and most important aspect being going into any raffle type event however, is to ensure the business has a solid quality product. If the product is not quality and effective, then the business is failing right there. With a great product however, a raffle can easily be used to both boost product sales, as well as customer retention rates.
With that being said, we can get into the details of the raffle. With any raffle the first step is to get people to buy tickets in order to be entered into the raffle. For the retail sector this would be anything they sell. The way they can count entries is by saying every $5 or whichever they prefer, would equal one entry into the raffle. This ensure that while the business is giving something away in the end, all the people buying entries to try and win the raffle would more than make up the cost of the give-away prize. This may seem obvious but the prize canâ€™t be just one small thing, it has to be something of decent value otherwise the customers may not see it as being worth the shot. If the business has a really amazing and worthy prize, itâ€™ll entice people to want to buy more from their business in order to get more entries. A prize for retail stores could be something simple as a gift card but one with some value on it. If itâ€™s a business such as a drone retail shop, maybe offer up a free drone. If you have a service business, possibly offer up one of your services for someoneâ€™s home up to a certain value.
When these customers are shopping for products to buy in order to get entries, it may seem like theyâ€™re just buying things in order to get entries but what itâ€™s also doing is drawing them into your store or website and thus showing the various product line the business offers. Once receiving what they bought in order to get entries, your products (which ideally would be of great quality and satisfying) are then being advertised to that person friends and also showing that customer how nice your products also are. This process described here ensure that not only the initial buyer will want to come back and buy more products, but will also tell their friends about the business as well. Then those friends can see the offer going on which will make them want to also buy some products to get some entries for themselves. Not only will all of this earn the business some income, but it will also get the products out more for advertising purposes. These all go hand in hand with each other.
In conclusion, the first step when using a raffle as a marketing tool is to ensure a quality product/service is being offered. Next the business must set up how entries are determined (buy a certain number of products and for every x amount of dollars you get one entry). Another way the business can draw more entries and thus more customers to buy products is to offer x amount of entries every time that person refers a friend and they buy at least one product. After the entry deadline is met and the winner is chosen, this is where the business can market themselves even more. Instead of just giving the winner the prize, make a video of the product giveaway and make sure to get the winners reaction. This can be used to show off your product while including a customer to help show that it is all real. Market that video on something like a tv commercial or even just the business website and that will be sure to draw more people to your business and want to buy more products for entries on the next giveaway/raffle. Last of course, if the business has a decent product(s) that in it self should carry out the job of bringing customers back to buy more and keep them from going to other competitors. Also, other competitors may not be as involved with their customers to do something such as a raffle so this will help to draw people to the business. Customers will also see this as the company wanting to be a part of how their customers are feeling rather than just selling a product to them to get the money and being done with it.