The Benefits of Having a Business Raffle
Raffles and raffle tickets are not only for non-profit fundraisers! “Impact a Life” college scholarship essayist Sara Foster details some innovative ways to incorporate a raffle into your business marketing strategy. Good work and good luck Sara!
The benefits of any business having a fundraising raffle would be the amount of tickets that would be purchased. A business could host a raffle just to get the company off the ground and get consumers to buy purchase their products. They could also use the fundraiser to help out a local charity. People may not want the prize that is handed out, but they would still buy a ticket to give money for the charity.
Some businesses do raffles to attract people to their place of business. The raffle prize is often something the business sells. I assume they do this because if the raffle ticket winner likes what they have won they will eventually come back to that business and actually buy their products. They may also tell their peers about the business as well. This contributes to brand awareness.
Raffle fundraisers are also especially beneficial during the holiday seasons. For example, my neighborhood does a raffle every Thanksgiving. The winner of the raffle gets a free turkey to enjoy on Thanksgiving Day. If the prize is outstanding enough a person might also purchase multiple tickets to increase their chances of winning. If the prize is appealing enough and the business actually sells that product the people who did not win the raffle might just buy it from the business based on what they saw.
Raffles can also be used as promotional enhancers. I first experienced a raffle at the age of ten. The winning prize was a state of the art blender that the company was selling. My mother gave me money for my ticket. There were demonstrations on all the fantastic things that the blender could do. They had it make smoothies and salsa, passing it out to the audience afterwards. Every time they used the blender to make something it was handed out to more people who purchased a raffle ticket, and some even purchased more than one.
Another way raffle tickets are a help to businesses would be if there were 2nd and 3rd place winners allowed. There would be more people entering the raffle because there would be more prizes handed out. Food franchises can also use the raffle idea. If they offer the winner of the raffle a year supply of their food way more people would enter their raffle. This is especially so if the food franchise is already very successful.
Raffle promotions are also a good way to get loyal customers. For example, if a business does a specific raffle every year then the same people would enter that raffle and they would tell more people to increase awareness through word of mouth. Even if the prize changes and people leave, the loyal ones will stay. Raffles that have a specific theme and come at the same time every year have become traditions to some families. They have made it a tradition in that family to enter that raffle. I knew a family that entered the same raffle annually around Christmas. A raffle was held and the winner won a laptop. Each year everyone in that family entered, and when they had extended family over they entered as well.
The strongest benefits to holding a raffle are the word of mouth benefits that come along with the contest. With more people talking about the raffle, more prospects are looking at your business, and this is sure to bring a strong return on the investment for the prizes.
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