Ty Sadowski
The raffle system is a great promotional tool used by for profit businesses and nonprofit organizations around the country. It is also an efficient and lower cost means of creating prospective customer excitement, loyalty, and a broader market for a business, product and/or service. The raffle system should therefore be considered part of any strategic marketing plan.
All of us share the desire to win and the thrill that comes with the pursuit of a prize. The raffle system provides exactly this element and expectation. Raffles give customers the hope of gain in return for their simple participation, a relatively small investment of time, information, and sometimes money for the expectation of greater return. In this instance, both sides stand to gain. Furthermore, because of the desire to win, customers are very likely driven to buy multiple raffle tickets. When properly promoted, a raffle can easily pay for itself. The right mix of promotion and customer expectation beget a successful raffle event.
One popular raffle system method does not even require customers to pay for a ticket. In exchange for a raffle ticket and the chance to win a prize, customers will provide information like their email addresses and phone numbers. Personal information is an extremely valuable resource to a business’s marketing team, making it easy to advertise directly to people who may be interested in the good or service the business provides. These advertisements could be information on sales or even coupons. The shoe and apparel retail giant Footlocker, uses the raffle system to give customers the chance to buy their new hot release. By using raffling they not only create excitement over the chance to buy a rare shoe, Footlocker also gains the customer’s personal information and which is used to sign up for the raffle. A business can never have enough potential customers and the raffle system is a great way to increase that number.
Another commodity that is just as important as information, is customer loyalty and retention. As many businesses will attest, the current customer is the best customer and the best, most reliable source of repeat business and profits. Loyal customers beget new customer generation by way of positive testimonials and word of mouth advertising, thus helping drive business growth. Because they like your business, it is very likely, if asked, they will recommend it to their friends and families. The raffle system is a great way to inspire that loyalty. Winners of raffles will show their gratitude by continued business. Even losers that enjoyed the pursuit of the prize will stick around. Using the raffle as a tool to get a business’s name out there and generate buzz is an excellent marketing strategy to create new customers and retain customers that have had experience with the business.
Raffles are looked at as something only used by churches and non-profits. Raffles are an excellent method for non-profits to raise money, especially if the raffle prizes are donated and the cost of printing ticket is economical such as those prices found on raffleticket.com, but in reality they are a great marketing tool for all types of businesses. It is very easy for a business to derive excitement, loyalty, and a larger market from a simple raffle. Ongoing brand loyalty and new customer referral are value added results. All types of businesses should therefore keep the raffle system in mind when thinking of new ways to expand their business.