The benefits of 50/50 raffles over straight donations are:
- Increased engagement: A 50/50 raffle creates excitement and a sense of community as people come together to support a cause while also having the chance to win a cash prize.
- Improved return on investment: While straight donations are appreciated, they do not offer the potential for a return like a 50/50 raffle does. In a 50/50 raffle, half of the funds raised goes to the winner, while the other half goes to the organization, providing a better return on investment.
- Increased funds raised: The prospect of winning a large cash prize can incentivize people to purchase tickets, leading to an increase in funds raised for the organization.
- Ability to reach a wider audience: 50/50 raffles can be held in various settings and events, providing organizations with the opportunity to reach a wider audience and raise more funds.
- Simplicity: 50/50 raffles are easy to organize and run, making them a convenient option for organizations with limited resources.
In summary, while straight donations are greatly appreciated, 50/50 raffles provide organizations with the benefits of increased engagement, improved return on investment, increased funds raised, the ability to reach a wider audience, and simplicity.
Beyond what was mentioned above, there is also what I call the “EXPERIENCE-FACTOR” or the “MILLENIAL-FACTOR.”
FACT: We all personally love experiences.
Why do we? Because they are both fun and exciting…
It’s been said that Millennials’ (AKA: GEN Y / GENERATION Y) are some of the most generous of all the generations. It’s also been said that Millennials truly love, appreciate, and value “EXPERIENCES” the most. Interestingly, this giving generation even values experiences over worldly possessions and money. To further drive the point home, back in 2019, Forbes even said that they give more than twice as much of their money and time to charitable causes as either Baby Boomers or Gen X.
The point is, when you combine FUNDRAISING + EXPERIENCES you have a winning combination. A compelling combination. An attractive combination. New found opportunity’s and new donors translates to new found funds to better aid and support you organizations important causes!
If your looking to either elevate, supplement, and/or supercharge your fundraising this 2023, go ahead and do as the Millennials do – stick you toe in the water and get your feet wet!
Go ahead and host your first online raffle fundraiser today! Before you know it you’ll be taking off and reaching new heights.
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