Raffles Help Your Business by Gema Macote

Raffles Help Your Business by Gema Macote

 

Businesses try to achieve their bottom lines as efficiently as they can. The majority of them try to do so by increasing revenues while decreasing costs. However, it is important for businesses around the world to realize that everything should be done with a long term vision, rather than just looking at quarterly performance. Therefore, spending some resources into marketing efforts that will retain and create more foot traffic for future consumers is something companies should incorporate in their business models. Raffles are an effective marketing tool for increasing revenues and consumer retention.

 

Currently, we live in a world where one gets happy when something free is given to them. We look for ways in which we can save money. Therefore, many of us become excited when the opportunity arises for entering a raffle. Raffles can increase cash in a myriad of ways for a business. First and foremost, raffles can increase foot traffic if you are a retailer. If businesses have products that are good, there will always be a demand for them. However, what about new consumers that have never tried the product? How should these be targeted? I believe for this reason, raffles are the answer. Business can provide a goody bag with items that they know consumers like. If the person is satisfied with the products and the services delivered to them, they will come back regardless of a raffle or not. As a result, the business has welcomed new consumers to their stores.

Another aspect in which raffles can help businesses is via client retention. Consumers may develop a loyalty to the products and services provided by a business, making them less likely to change or go to the competitors. Consumers should be rewarded back with a form of gratitude by allowing them to participate in a chance to win something of free value as a thank you for their business. Raffles are the tools that can be used to show the consumer this sort of gratitude. Myself for an instance, loves going to my favorite Vitamin Shoppe and seeing a raffle taking place. In my case, I become excited at the idea that after spending cash for their products, I might have a chance to win their products for free. This is the thinking of many of us when we see a raffles, the idea of having a chance to win gets many of us excited.

There are many instances where people just go from place to place to take a chance to win those raffles without being regular customers. Business should be very aware of the right time and the right event where these free raffles take place. The use of raffles is to create awareness about the products that businesses provide. Once awareness is established, new consumers would come back to buy the actual products since they know the products and have tried them.  In this instance, raffles have created both awareness and have brought new customers into the business model.

Spending some cash resources into raffles as a way of marketing can be extremely useful if used correctly. Not only does it brings more foot traffic, but creates awareness as per what the store sales and the services they offer. Once those are achieved, businesses become more than just a cash generating model, but one that empowers their consumers and looks at their businesses with a long term in mind.  

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Contributed by Gema Macote

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