Donovan James Taggart essay
Describe how a business (including retail and service) can derive promotional and customer loyalty/retention benefit by utilizing a raffle in their marketing efforts.
As a consumer, I have seen Sprint and other major retailer brands to conduct in-store promotions with the big tent placed out front with balloon at the storefront. Inside each customer arrives by appointment and fills out a small piece of paper to be entered in to a drawing for random in-store prizes. These promotions certainly seem to bring in their loyal customer base, as my Mom stopped by 2 weekends in a row to help me get my dead phone back up and running.
Any type of retail business (hair & nail salons, boutiques, car repair, spa, etc…) of products and services can use raffles to build momentum to future sales growth by conducting a short spurt event series to be held at the retailer’s brick and mortar location. The event can have a theme; such as, Customer Appreciation, Champagne Fridays, etc. with a special feature to purchase $2.00 ‘affinity cause related’ raffle tickets to A) Opportunity to special discounts on merchandise (5%, 15%, 25%, Buy 1, Get 1 50% Off), B) Customers to write name on the purchased raffle tickets to be entered to a grand prize gift package, which is presented at an in-store finale event. Ongoing promotions at the point of sale & social media would align to the 6-week promotional outreach campaign.
The retailer would devise a 6-week promotional plan that aligns several aspects to become a very engaging campaign to showcase the brand, which can be repeated at any time. Raffles allow chances for customers to increase their odds to win cool prizes, while supporting an affinity cause. If not already social media savvy, then the retailer may take time to build an email blast to announce the overall program in conjunction to the popular affinity cause or during a time when consumers may likely want to support, such as; ‘breast cancer month’, etc.
At the launch event, customers would be offered the opportunity to purchase raffle tickets to be entered into a grand prize package drawing (TBA in 6-weeks finale in-store event). The grand prize can be organized as a co-branded opportunity for another retailer or sponsor to offer a big prize; such as, vacation or TV, etc…
A minimum of 4-weeks prior to the launch, the retailer would begin to build their social media followers by offering a small percentage or gift for signing up the retailers IG & FB at the point of sale location. The retailer will utilize social media to drive their customer base to the exciting in-store events.
The raffle tickets are a catalyst to a win-win for the customer and the retailer with the ‘Buy 1, Get 1 50% Off’ (lesser value product or service) chance. The retailer enables in-store purchasing power, interactive engagement and a viable purpose to repeat the behavior with the organized program. The raffle ticket entry odds to win increases favoritism to the excitement of the grand prize finale event. The store may have opportunity to increase sales revenue with increased customer foot traffic, along with products and/or services purchased items sooner than planned to maximize the buying dollar over the 6-week timeframe where added discounts may apply. The multiple layers to the program add encouragement for customer buy-in to be entered into the branded finale event (red carpet, champagne, etc) widely publicized on social media from 6-weeks out.Place An Order