There are a plethora of reasons why you might want to start a charity lottery today. One of them is to steadily grow your money reserves. However, making a steady income is half the journey. You need to know how to create the best strategy to raise enough funds for your charity.
This is where many organizations fail or get confused. Or both. The good news is, you can hire a charity raffle provider to help organize a lottery. That way, your lottery will stand a good chance of attracting the right sponsors – ready to support your organization or a worthy cause.
How to set up a charity lottery
Incentivized giving, which is a premise for lotteries, is an innovative way of raising money for a cause while rewarding supporters. To make the most out of your lottery, you need to know how to set one up. You can do this on your own. Even take responsibility for your own marketing.
That means lobbying support from members of the general public and corporate supporters. Meanwhile, you have to come up with prize money for your lottery supporters. This is important because, really, what’s a lottery without prize money? Reward supporters for their monetary donations.
If organizing a charity lottery is challenging, the next best choice is to engage a provider who can plan and take care of the process for you. This removes the need for you to lobby support from sponsors and anyone willing to donate money for your charity.
Drawbacks of a lottery?
Since it’s a predictable way of generating an income, you experience fewer drawbacks (or none) when setting up a charity lottery. After all, it’s just about identifying the number of players for your lottery. The number of times they’ll play. And how many times each will pay each time they play.
Remember, you have to first ensure your supporter base is willing to pay for the lottery before you get things rolling. In most cases, lotteries cost players at least $1 a week, while others cost at least $3 a week to play. In essence, you can generate more money regularly. But you need to plan well ahead.
Large charities and hospices make enviable income every year from well-organized charity lotteries. Never mind they come up with great winner stories that make for great PR (public relations).
Setting up and registering a lottery is quick and easy. You might even be able to apply online depending on the number of players you have on your list. If you want a lottery to create a steady income for your charity, promote it. This is a vital part of marketing. It steers the lottery in the right direction. Use promotional methods like leaflets, flyers, and social media to start with. Hopefully with some great prizes and god marketing, you’ll achieve your financial goals.