The Perks of Holding a Business Raffle
Raffles aren’t just for non-profit fundraising. Danielle Nicol, a Valencia College student does a wonderful job outlining the many perks a business can reap by holding raffles to boost business.
Raffles serve as a form of advertisement. It makes previous customers visit more, based on the idea that they already shop there a lot so they’d have a good chance of winning that prize. It also sparks the interest of consumers who have never even window-shopped there before.
Raffles are a great way to up-sale for a retail business. The idea behind it being: customers go to stores with the intention of spending money in the first place, and if not, it’s to view items they might be willing to buy – if not now, then eventually. If there is an incentive, such as, for every $25 spent, your name (which would be accompanied by a phone number, email address, and home address) would be entered into the raffle according to the amount in which you spent in total.
If someone were to have picked out $87-worth of items to purchase, it makes sense to spend another $13, assuming that there were more clothes, games, music, movies, food, and/or anything else, for that matter, that they liked at that store. By doing so, they’d have four tickets in the raffle rather than three; their chances of winning would be increased.
Valerie Diard, a server at the Royal Saint Cloud Golf Links, enjoys shopping at stores like the Bealls Outlet for shirts and home décor. Valerie goes on to say, “… it’d be worth it to be entered an extra time to heighten my chances of winning the prize.” It’s customers like her that wouldn’t mind paying the additional $13 for another cute top if it meant that the odds of winning the raffle were more in her favor.
Of course not all customers would have the same outlook as her; some would stick to the original amount they were initially going to pay, which is fine. When it comes down to it, it doesn’t negatively impact the business. For those who do participate, it will only further benefit the company hosting the raffle. The more people spend, the more the business makes.
On top of that, it’s not as though the customer loses any money; they are getting their money’s worth. The raffle offers a little extra something as a spontaneous reward for having spent money in the first place.
OVERALL, the Perks of a Business Hosting a Raffle:
Raffle announcements serve as a form of advertisement.
They draw the attention of loyal customers back to the store.
They even draw the attention of potentially new customers to the store.
It’s a great opportunity to up-sale.
It’s a win-win situation for the customers.
No matter how much the consumer spends, they are getting their money’s-worth; if they win the raffle, it’s a bonus.
It’s a win-win situation for the business. Even if the consumers don’t spend extra money, they’re not losing anything.
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