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Raffle Ticket Pricing – you should read this

Important Tip! #

The Raffle Ticket Generator was originally designed for the ability to create multi- tiered ticket packages with a proven record of increasing the average contribution. This gives your donors and contributors additional chances to win the prize.  At the same time, it increases their donation.  Having helped with thousands of raffles, we have done extensive research and have come to the conclusion that people are much more likely to give a larger donation if their perceived chance of winning the raffle is more likely. For example, more people than not will buy 2 raffle tickets for $15 than one ticket for $10.00.

In the traditional raffle world, tickets were printed up and distributed to the organization members for sale.  There was no way to easily manage multiple tiered ticket pricing, but with the RTG plugin it is automatic.  One question we get alot is what is multi-tiered ticket pricing?

Multi-Tiered tickets pricing is where you offer something like the following:

Over the years of working with online raffle fundraising websites, we built several sites for raffles and we closely watched how people interacted.  We also asked the customers for their previous info.   While the data is far from perfect, we took 113 raffles, and normalized their prices to a single $10 ticket.  So if their price was $5 per ticket – we simply adjusted all dollar values by 2x to come to the $10 mark.  If they had tickets at $20 we cut them in half and so on.   While this is not a perfect analysis, the general results are worth sharing.

The Results: #

When a traditional raffle is selling tickets at $10 each with no incentive to purchase multiples tickets – then then average contribution is $11.18.   Basically only 1 in 10 purchase 2 tickets.  Or 1 in 50 make a $50 contribution.   So for all the hard work you do to bring people to your raffle, you are limiting your potential donation.  There was little variation based on the prize at this offering as well.  If you offered a TV vs a cat, the results were pretty much average, fluctuating between $10.39 and $12.31.But – when you offer online raffle ticket  multi tiered packages, which give an incentive of more chances for a larger donation, the average of the 113 raffles we tracked went to $64.53 per donation.  Now – with these results there was a much larger variation depending on the prize and the types of ticket pricing available.  For example, if the prize was a $1000 Smart Tv, the average donation was $31.83.  Yet when offering a Car with ticket options up to $500, then the average climbed to $80.95.  Regardless, the average result is a significantly larger contribution per customer.

If you put as much effort into promoting your online raffle as your organization did with a traditional raffle – your results will increase dramatically.

But what if we want to limit the tickets to show better odds? #

While it seems that this might be a good thing to do, the fundraising raffles we have witnessed, indicate that it is negligible.  We have seen many customers who did limits the first year and then do tiered tickets the next year and the majority had better success and raised more money without limiting the tickets.  The psychological impact of more tickets for your money seems to have a better result in overall funds raised then offering a limited set of tickets for your fundraiser.