Kelly Krumm essay
The question every consumer looks to answer is this: “How much can I get for this much money?” When they go to the grocery store, they look for sales to try and get a better bargain. They will search for a gas station with the lowest listed price per gallon. Each person is always looking to maximize the value of their money, as they should. Making money takes hard work and dedication. People also love winning. Even more than this, they love having the chance to win. This reasoning is why millions play the lottery, even though the chance to win is infinitely small. Having a chance, no matter how small, makes it seem possible. When you apply these two philosophies to raising money for a non-profit, it makes perfect sense why a raffle is so effective. Not only do donators feel like they are helping a good cause, they also feel that same possibility of winning, and getting return on their purchase. All these factors create a strong incentive to buy the tickets, leading to increased donations for the cause. However, in order to maximize the benefit of a raffle, strategies need to be put in place along every step of the way, from the ticket sales, to the prizes, to the volunteers selling the tickets.
To maximize ticket sales to donators, there are a few ways to encourage purchasing. The simplest way to do so is give a discount on purchasing bulk amounts of tickets. For example, while it may generally be one dollar per ticket, a deal could be run of twenty tickets for fifteen dollars. This falls back on the idea of the consumer getting the most value out of their money. With a deal, they feel like they are getting a better value, and as such are more incentivized to purchase more tickets. Another way of implementing this could be rephrasing it as a “buy one, get one free” setup. For example, it could be buy fifteen tickets, get five tickets free. While this is the same basic deal as the previous, the inclusion of “free” in it gains people’s attention, and again, making them feel like they are getting a great value for their money.
When it comes to prizes, it is important to keep in mind the subject of the event, the size, and the expected donators. These factors greatly impact the value, type, and number of whatever prizes a raffle will have. For example, a small dinner raffle probably should not be giving away an expensive home gym, however it would work perfectly for a large fitness conference. Keeping this in mind will ensure that the donators are even interested in buying tickets. Similarly, keeping the cost of the prize relative to the expected amount of donations, and chance of winning, ensures that funds are raised. Having the prize donated is the best scenario, and ensures even greater funds for the sponsoring organization. To increase interest in the prize, the organization can split it into multiple prizes of smaller value. This increases the number of winners for the same value, which will encourage donators even more. Another option is to remove any physical prize from the raffle, and make it a 50/50 or equivalent. A cash prize ensures that it will work for every possible donator, however, may not pique the interest of them all in the same way.
However, no tickets will be sold unless volunteers are motivated to do so. Volunteers that have friendly, positive relations with donators will leave a lasting impression and increase sales. As such, encouraging volunteers to output their absolute best is vital. One way to do so is to use a reward-based system. One such way could be rewarding the volunteers with their own raffle tickets for every certain amount of tickets sold or dollars raised. Finding the right balance of dollars per ticket will be up to the organization, but using rewards to encourage sales is always an effective motivator. Another option is to have separate prizes specifically for the best sellers, making a more certain reward for the volunteers only. Using these strategies and others will help motivate the volunteers and increase donations in the raffle.
When deciding to organize a raffle for an event, an organization needs to ensure they consider the donators, the prizes, and who is selling the tickets. Making specials for buying more tickets, having relevant and enough prizes, and ways of motivating sellers all ensure the most possible tickets will be sold during the raffle and ensure that the most money possible is raised. Applying these strategies and more will bring out the most value for the organization, as well as giving the best possible value to the donators.Place An Order