Lynnette Mitchell-Grady 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.
A business utilizing raffles in their marketing efforts can derive promotional and customer loyalty/retention benefits. For example, I plan to start my own credit repair (service) business in 2018 and one good technique to promote my business to the public is to have a raffle that everyone can participate in. My raffle marketing can be a promotional effort to introduce my new business to the public as well as let the public know that my business is engaged in giving back to the community and helping to raise awareness to issues that has a negative impact in today’s society. The funds from my raffle will be donated to charities and/or foundations that supports:
- programs that raises awareness and address drug addiction and abuse in our communities
- survivors of natural disasters
- HUD home projects to build and/or renovate homes to in order to address and tackle homelessness in our communities
- job training and work placement programs for individuals who have been incarcerated
Winners of the raffles can receive the following incentives, depending on how I will setup the raffle:
- Raffle 1: 50/50 raffle where the winner will get half of the money raised and the other half will be donated to the charity/foundation of choice
- Raffle 2: 100% of the proceeds from the raffle will go to the charity/foundation of choice and the 1st place raffle winner will receive 12 months of free credit repair and credit monitoring services which is valued at $760.00
- 2nd place raffle winner will receive 6 months of free credit repair and credit monitoring services which is valued at $400.00
My promotional raffles will be done twice a year, one being done as a 50/50 raffle, and the other done where a raffle winner will receive 6-12 months of free credit repair services. To make this raffle as successful as possible to promote my business and gain/retain customer loyalty, my business will partner with many non-profit organizations, schools, clubs, and businesses to raise awareness for the many causes and issues we need to address within our communities. Partnering with these organizations for the raffle marketing campaign will allow for me to form a network with many different people and other businesses.
From a retail business perspective, the same can be applied as above when running a raffle marketing campaign to promote your business. The extra edge that a retail business may have is offering a greater variety of free products and/or services as an incentive for the winner of the raffle. Implementing a raffle marketing campaign that serves a greater good will attract as well as retain customers. For consumers who shops regularly at a certain store, and/or are subscribed monthly for a particular service, they like to see the business that they support give back to the community. Other businesses will see how engaged your business is to giving back and bringing awareness to issues that needs to be addressed and may want to not only learn more about your business, but partner with you for promotional purposes as well. They can also learn from your marketing campaign and incorporate raffles in their marketing plans to promote their business. The more businesses and organizations you are affiliated with and can get citations on their personal website, the more your business name will be exposed to a much larger audience, especially online.
Raffle marketing can also be done online to reach a broader range of people and get as much exposure for your business as possible. I would prefer to implement my raffles both locally and online. Having and maintaining a very strong raffle marketing campaign and being known for doing good raffles will also increase your chances of really optimizing good search engine optimization online. When someone types in raffles, charities, and/or a cause that they are looking to donate money to, your website may be the first to come up. This will give the prospective consumer or client a chance to learn more about your company, the products and/or services your business offers that may peek their interest, and the charities and organizations you support.