Alejandro Ortega Jr essay
In business, the most important aspect is the revenue gained from the sales or a business’s product or service. Sales come from having a product and/or service that is affordable however, in order to continue to see the same revenue gained from new products companies need to establish a loyal customer base to ensure that the products remain desirable. A great example of this is Apple and their strong, loyal customer base. While some companies obtain consumer loyalty through the reliability of their products, such as Apple, others may need to compete in other aspects to help maintain their current customer base or attract new customers. Providing raffles and contests is a highly effective tool for companies to increase brand recognition and begin to build a pool of loyal consumers.
One thing that business has become lately is the loss of a personal touch. After speaking with Baby Boomers for some time and interacting with them, one common theme that has come up in conversation is the remembrance of walking into a grocery store and the clerks knew the name of the customer. In today’s business world, very rarely do employees know who they’re dealing with on a personal level which creates the image that the customer is in fact just a customer and not valued. By companies having raffles for their products or services, you are giving the customer a chance to interact with employees on a personal level other than just, “will that be credit or debit?” Besides being able to learn more about the customer base, by providing raffles a company is able to build on their reputation as a brand by offering their products or services for free. How this builds reputation is not by the product itself but allowing the company to reinforce their mission statement. If talking about non-profits, they’re goal is to give back so what better way to help establish reputation and brand by offering a chance to give their services to someone in need and having a raffle.
In today’s society, by offering raffles online, it can provide a big following of potential customers through social media. By the use of clever marketing material, a company is able to obtain, at the very least, an email to be able to send promotional offers in the future. One email is a huge benefit for a company that allows them to follow up with the customer to eventually earn a sale. One raffle is an easy way to obtain the email simply by saying in the initial raffle email that in order to participate, the participant needs to provide a name, phone number and email. The advantages of such an approach far surpass the disadvantages in a way that the biggest advantage through this method of social media raffle opportunities is that this is just a simple step for an entry without any stipulation which customers want. Customers do not want to feel like they are completing an application for a home loan just for a free item. By making a simple raffle entry, companies will already begin to build a rapport because they are understanding that customers look for simplicity.