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Old 11-05-2013, 12:36 PM
Royal Hill Royal Hill is offline
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Join Date: Mar 2011
Location: NW
Posts: 440
Raffles

I've had this discussion a couple times over the last year or so, and as part of helping with an essentially am series, we haven't come up with solid answers to these ones.. But they are good questions (from a strategic perspective)

"when Do you have enough for a raffle table, and when does all the extra stuff not provide additional revenue return?"

The concept behind this is that there seems to be a point where "the table is full enough" and anything extra doesn't translate into additional ticket buying. ie. a diminishing returns scenerio.

The second question below is what the op wishes to know the magic answer to (as does anyone who runs a raffle)

"what dollar cost per ticket will maximize the amount of buy-in?"

In these conversations, I've usually broken it down to a couple components that should be realized about raffles.

First- is the raffle intended to draw event attendance (primary goal to increase interest in your event and look loaded on the flier)?
Or is the primary goal to create fundraising revenue?

Second- you have to view a raffle in the way that you would view a charity fundraising auction... But one that doesn't take credit cards at the end of the night. That means, all the potential buying cash on the day is already in the room - its just up to you to farm it well.

Unless you can influence how much cash is brought to the event. Which comes to PR and hype.

Is it better to kill yourself getting a load of extra stuff at the last minute, or better to spend that time to do a well thought out promotional effort to load the free cash brought?

I know... moree questions than answers, but things to think about.
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