Winning a Raffle; Part I

Our goal with this series is to prepare you to run a professional campaign to give you the best chance of meeting or surpassing your fundraising goals.

HOW? You might ask – Easy. We have broken it down into 8 categories and will walk you through each one in the following blog posts:

  1. Setting realistic goals
  2. Picking the proper “ask” with a meaningful cause
  3. Setting the length (duration) of your event
  4. Choosing and enabling your staff
  5. Marketing and promoting your campaign
  6. The sales process
  7. Back office management
  8. The Raffle Ready Difference

So, let’s get started

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1. Setting realistic goals:

SET A REALISTIC TICKET PRICE AND CAMPAIGN GOALS

a) GOALS – Setting unrealistic goals is a sure way to kill a campaign. If you’ve run raffles before, analyze your historical success. Understand the reasons you either failed or succeeded in earlier campaigns. Decide what you’re going to do differently this time. For a first-time campaign it helps to do some research. Check similar groups and get ideas about scope of results. Make sure you compare apples-to-apples: if you have a group of 200 members, compare organizations that are similar in size to yours. If you do not know of other organizations that have used raffles in the past or if they are not open to sharing their data, find a company who facilitates raffles, like Raffle Ready, who will have all of that data available to you.

b) DO THE MATH – The value of your prize dictates your ticket price. If you set a low price and undersell, you run the risk of not meeting your goal. If you set your price too high less people may participate and you will not meet your goal either.

c) PERCEIVED VALUE – A vacation package although valued at $3,000 has a much higher perceived value than a $3,000 cash prize.

d) CAMPAIGN LENGTH – Your goals must take into account the duration of your campaign. The longer your campaign, the larger the goal.

e) DEMOGRAPHICS – Who is your primary target audience? A campaign for boy scouts is different than raising money for a school or cancer center. Demographics are also critical from an income standpoint.

 

Stay tuned for the next category in Winning A Raffle next week!

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