One of the most effective ways a charity can make money is through the charity lotto. It may also be a good idea to run a prize competition for charity with a trusted site such as Reign Competitions. It helps the organization reach out to new supporters who through the use of incentives, can turn into staunch supporters of the organization.
A monthly charity lottery, in particular, is enticing due to the big and attractive rewards involved. But if not properly planned, it could lead to losses.
How to Attract Participants
To succeed with your lottery here is how to go about it.
Reduce the cost of tickets
When the price of the ticket is small and the prizes are of high value, it can bring in more returns. The goal will appear more achievable, attracting participants with each buying more than one ticket.
Increase the likelihood of winning
The incentive of a charitable lottery is the prize, and unless you convince a participant of their chance in winning, they are unlikely to buy a ticket. Any small win is better than multiple losses. Provide many small prizes daily and weekly that keep the participants interested even after losing the monthly draw.
Focus on attention-grabbing prizes
Picture yourself as a potential ticket buyer. What would motivate you to buy a ticket, the possibility of winning a trip to Bora Bora or a 24-inch television?
The sweeter the deal, the more participants you will get.
Market the lottery
If the lottery does not have enough participants, it is at risk of operating at a loss. Gathering participants requires aggressive marketing. Reach out to potential participants through warm and cold emails, use telesales, social media advertising, and any effective method that can send the word out on the upcoming charity lottery. Launch it three months before the first draw to ensure that you attain the target membership levels before then.
Use Lottery Management Services
It is always beneficial to outsource the most critical tasks to experts such as a lottery management company while you concentrate on other issues. With their experience in the field of lotteries and fundraising, they can ensure that you don’t experience losses, or go against the law.
The Benefit of Working with a Monthly Charity Lottery
The main advantage of the monthly charity lottery is the time factor. Participants have more time to buy tickets, and this encourages them to invest more money.
A major monthly draw, especially when properly marketed, builds anticipation and suspense that makes the game more interesting.
Even as you offer the daily and weekly prizes, the participant’s eye is still on the grand monthly prize. Holding their attention for a month gives you a chance to build awareness of your charitable causes, which makes it simpler to raise funds in the future in ways other than the lottery.
Holding a successful monthly charity lottery is not an easy task. It requires that you work around the emotions of your participants, keep them interested with daily and weekly prizes, and ensure that the anticipated prize is worth attention.
Offer the tickets at a low cost to encourage many purchases, market the lottery effectively, and ensure adequate management of the lottery. By applying these tips, you are sure to realize better profits.