Live Auctions: Raise More Money FAST with a Rapid Raffle
Rapid Raffle, Rapid Raffle, Rapid Raffle, Rapid Raffle, Rapid Raffle, Rapid Raffle...
Say that 5 times fast.
I’ve got a lightning fast way to bring in 3, 4, 5, even 10 times an item’s value at your next benefit auction.
You have to set it up just right, but the returns are SO WORTH IT.
It’s the fastest raffle around… It’s Rapid Raffle!!!
I’m going to teach you how to raise thousands more with The Rapid Raffle.
When bidders check in at your event, they get 4 raffle tickets attached to their bidder number.
Literally 4 tickets attached.
Then, at some point in your program, the auctioneer will make the following announcement:
“It’s time for the Rapid Raffle - tonight you have the opportunity to win this delightfully irresistible item! With the 4 raffle tickets attached to your bid card, you can enter one ticket, two tickets, three tickets, or all four. The cost to enter each raffle ticket is only $25. But think fast! We’re going to start the basket around the room NOW, and as soon as it makes it to the stage with all the entries, we will draw a winner. Ready?? Here we go!”
The idea is that people who are interested will impulsively add their raffle tickets into the basket because the cost of entry feels so low.
We generally suggest setting the cost of each ticket around $25 to $50.
$50 for a $500 necklace is a steal!
We’ve seen clients succeed at both price points, just be sure you match your crowd’s capacity to bid.
Now for the logistic side of things. There are a couple of pitfalls to Rapid Raffle, but they’re easy to avoid.
First, LABEL YOUR TICKETS CAREFULLY.
You must make sure that all 4 raffle tickets are labeled properly with the correct bid number.
This is a perfect task for a team of volunteers armed with sharpies.
Because when the winning ticket gets pulled from the basket, there should be no question that the item is going to the rightful winner.
Next, PREPARE FOR SMOOTH DATA ENTRY.
During your event, immediately after the winning ticket is drawn, it is SUPER important that you have a volunteer ready to take not only the winning ticket to data entry, but also the still-full basket of non-winning tickets.
Then at data entry they can tally everyone’s tickets and add that cost onto their final receipts.
Each ticket must be tallied one by one and entered into your software.
This can get time consuming, so to help this go quickly, I recommend setting up two teams of two people: one person READS the ticket numbers and the other person ENTERS each ticket purchase.
And remember, each bidder can buy up to 4 tickets.
Lastly, let’s talk about THE IMPULSE FACTOR.
Rapid Raffle works best when you choose a prize that interests your guests enough to spend $25-$50 on impulse.
I think the best type of prizes for a Rapid Raffle are valued between $400-500: Think a weekend at the beach, a beautiful diamond necklace, a wine and dine date night out…
Our clients who have added The Rapid Raffle to their program, we’ve seen them raise up to 10 times an item’s value. That’s the kind of ROI that makes me smile!