Everyone Loves to Win
Who doesn’t like to win? A question many customers ask themselves, as well as many businesses when offering unpredictable payoffs. Business can derive promotional and customer loyalty/ retention benefits by utilizing a raffle in their marketing efforts and tapping into the psychology of winning.
Reciprocity is the thought that people respond to a positive action with another positive action. In regards to business the positive actions are things like: signing up for a mailing list, making a certain number of purchases, or spending over a specific amount.
All very positive actions to the bottom line of the business and rewarding the customers with raffle tickets. For the customers, they are given a chance and a psychological influence to “push” them to keep trying to obtain the prize. The selective attention and selective recall or “ I only see what I want to see” drives customers to continue to participate and makes the use of raffle tickets beneficial.
Other factors that businesses utilize raffle tickets for are for the optimistic customers who enjoy the thrill and are positive about their win. There are some customers who are driven by the near miss belief, and those that have the illusion of control by purchasing a large amount of tickets to try to sway the odds in their favor. Everyone loves to win and through businesses making a game out of it, raffle tickets help utilize this influence.
I have seen companies marketing campaigns where the purchase of a raffle ticket would enter the buyer into a lottery for a brand new car. Another lottery was for a vacation at a five star resort, and yet another for a free membership that had valued at a very high price point.
Prizes with high consumer value serve as an escape for life’s worries and that mentality of “if I could only win”. Such thoughts are healthy, as stress can be very challenging and taxing on the body and mind.
I personally have participated in paying for raffle tickets from a company and found myself excited over “the chase”, or the trill and mentality of what I would do if I won. The cost of the raffle tickets involved the purchase of small items and the more I purchased the better my chances.
Looking back as a customer, and I made some pretty foolish mistakes. Where as now thinking as a business owner, as the owner of my own company one day, raffle tickets are useful for promotional and marketing campaigns. They engage customers, have the potential to ensure continuous customer loyalty and even bring in prospect customers.
If implemented correctly as to not “rob” their customers, businesses have the potential to create effective and profitable campaigns that give customers chances at being a winner. I reiterate my opening statement, who doesn’t want to win? Customers sure do and business should also, especially with the resources and benefits accessible today.
Being creative with prizes and means of obtaining the raffle tickets will create winners on both sides. Reciprocity or being a winner, the psychology behind raffle tickets is a sure winning decision.