Raffles Are an Incredibly Popular Fundraiser by Torin Vanin

Raffles Are an Incredibly Popular Fundraiser by Torin Vanin

 

Believe it or not, raffles are actually an incredibly popular fundraiser tool. No athletic event, church festival, or school function would be complete with people pacing around rows of tables pouring tickets into bags trying to better their chances to win a gift basket or tickets to a game. To increase the benefit of the raffles, organizations should incentivize ticket sales, and establish a target audience for their prizes. This will increase participation, which in turn increases sales and benefits the organization.

 

If ticket sales are incentivized, this will increase the drive for people to sell tickets. My plan is to establish a system of referrals for ticket sales, as well as establish a reward system for purchasing a certain number of tickets. For example, if a person participating in the raffle refers someone to buy tickets, the first person is rewarded with free tickets. Now it can’t be a 1-to-1 swap, but it should still work. More specifically, if I refer one person who buys 5 tickets, I would then get two free tickets. That gives me motivation to get more people to buy tickets, as well as the people I referred.

 

In addition, offering a rewards program for buying tickets would give people more reason to buy more tickets. For example, if I buy 10 tickets at one time, I receive five bonus tickets. Since the organization doesn’t lose money for a free ticket, they really are only gaining here. This could also lead people to buy more total tickets. Instead of just buying five tickets, they could buy 10 so they get the extra five. People could also buy an extra 10 tickets, equaling a purchase of 20, so they can receive 10 free tickets. If the price for one ticket is a dollar, that means the organization just made $20 on one person. If they can replicate that in just 10 people, that’s a haul of $200. And considering there are often way more participation in raffles than just 20 people, that can add up to a lot of money. Compound that with the fact that some prizes can be donations to the organization, all the money would be going straight to the organization.

 

To further optimize the sales and enlarge the benefit of a raffle, the organization in charge needs to establish a target audience, and gear their raffle prizes towards them to maximize the participation. For example, if a basketball team is having a raffle they should look who is most likely to be attending the games. There will be families, and more specifically, mothers, fathers, and kids. They should feature some sporty prizes and tickets to games because they are at an athletic events. There should be some coffee or spa packages geared towards mothers. There would be golf packages or grilling packages or tools for the fathers. For the families as a whole there could vacation packages or movie night baskets. Since it’s common for families to have pets, there could be pet baskets. If the prizes are focused to the types of people that are there, the attendees of the event will be more inclined to purchase tickets and spend money because it’s for items that they actually want or need.

 

If you couple those two aspects of my plan, I believe that raffle campaigns would be largely more successful and increase the amount of money brought in. Raffles are already a popular way to raise money, but are often run inefficiently, as they don’t maximize their potential profit. By establishing a target audience to decide what to raffle, and instituting a referral reward program, as well a ticket purchasing reward system, organizations can optimize the money they take in and have more money at their disposal.

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Contributed by Torin Vanin

December 29, 2015

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