Maximizing Raffle Sales by Noah Tasse
Maximizing Raffle Sales by Noah Tasse
Increasing profit margins when conducting a raffle becomes fairly easy when approached with incentives and practicality in mind. Incentives will maximizes sales while practicality will minimize costs, and, in the end, the non-profit organization will reap excellent earnings. Careful preparation will increase efficiency and also make the raffle more effective. Planning must include familiarizing volunteers with sales techniques, knowing the targeted demographic if there is one, setting a budget, and obtaining the supplies needed to run a successful raffle.
The main goal of a raffle is to sell as many tickets as possible, but in order to do that there must be a group of properly motivated volunteers. The most effective way to get volunteers to sell a lot is to offer incentives for those who sell many tickets. For example you may offer the volunteers one free ticket for the raffle if they sell five tickets. This is a good way to offer prize incentives without digging into the budget. If the money that is being raised is going to benefit the volunteers emphasize that fact before sending them out on their sales. They will work harder if they reap the rewards.
After the sales team is properly incentivized the next step is to offer raffle prizes that people will actually want. In order to know what prizes people will want the organization must understand who their targeted demographic is for sales. If they are looking to sell more tickets to younger people a good prize would probably be video games or sports equipment. If the targeted demographic is adults then a good prize would be some sort of home appliance, but if there is no primary group of people to sell to a good middle of the road prize is a television or laptop, but it all depends on the organizations budget. Another way to motivate people to buy raffle tickets is to offer prizes to second and third place winners. These can be something smaller and simple like a gift card. If there is more chance of someone winning a prize the more likely he or she is to participate.
There are other variables that a non-profit has to take into account before beginning the sales process if they plan on maximizing their sales. One way to increase profits at the end of the raffle is to decrease spending. The prizes are probably the most expensive part of running a raffle. The organization could speak with local businesses to see if they are willing to provide the prizes in exchange for advertisement. The organization could then print the businesses name on the raffle tickets. Strong advertisement will build sales. Social media is an excellent way to present the opportunity to participate in a raffle. Utilizing networks like Facebook, Twitter, and Tumblr is a much cheaper alternative as opposed to posting up fliers, and the internet will reach a broader audience without any cost.
If the organization is selling the raffle tickets at a specific location, there must be a constant flow of people through the sales area. It must also be a place where people are not busy; a place where they are looking for entertainment or leisure. Malls are preferable over grocery stores because malls are a place where people go to splurge, and grocery stores are a places where people go as a chore so they want make their visit as quick as possible and not get distracted by volunteers selling raffle tickets. If the organization is allowing their volunteers to sell the tickets anywhere, then it is best to begin selling in large group of their peers. Kids could sell tickets to their friends at school, and adults can sell tickets to their coworkers at the office.
When volunteers are actually selling tickets they should emphasize the reason for the raffle. People are more inclined to spend money if it is for a good cause. People are also more likely to buy tickets if they are allowed multiple entries. There might be someone who wants the prize so badly that they are willing to buy as much as a quarter of your sales. Many people will take advantage of that opportunity. People have a tendency to put off purchases they plan to make if there is no deadline. When selling tickets it is important to make it known that there is deadline for ticket sales, but also be willing to push the deadline back if there is a chance it will increase sales. Also charge more for purchases made after the initial deadline.
Conducting a raffle or any other fundraiser is similar to starting a small temporary business. The same procedures that a business owner would take to maximize profits should also be taken the individuals running the raffle. Minimizing costs by being practical and efficient, and motivating volunteers to become fully invested in the profitability of the fundraiser are the keys to success for running raffle.
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Contributed by Noah Tasse
September 24, 2015Place An Order