Let’s guide you through some of the most important aspects of setting up your raffle properly.
A common mistake we see when people are setting up their raffle is pricing their tickets incorrectly or not using Multiple Ticket Tiers to increase sales.
A huge factor in pricing your tickets correctly is understanding your audience.
Consider these factors:
- Who are the people that are most likely to buy tickets for your raffle?
- Have they already paid for an event ticket and now you are wanting them to buy a raffle ticket?
Pricing is as simple as using some common sense and putting yourself in the shoes of your potential buyers.
It’s also important to match your prize value to your ticket prices. If you have an expensive grand prize to be won, set your ticket price accordingly.
But don't undercut yourself and price your tickets too low! People aren’t just pulling a couple coins out of their pocket to buy a ticket. Plus, people love to support good causes! When people use their credit card for an online transaction they typically feel more comfortable doing so for larger amounts, so don’t be scared of setting a higher ticket price. We suggest a minimum single ticket price of $5 works well and then giving discounts if people buy higher quantities of tickets.
People love getting a deal! Make sure you are offering multiple ticket tier prices! Offering people the option of purchasing higher quantities of tickets for a lower price per ticket is a great way to offer value to the buyer and increase sales.
Our suggested pricing for Split the Pot raffles (e.g. 50/50 draws) is the following: 1 ticket for $5, 3 for $10 and 10 for $20.Ticket prices positioned like this have higher chances that people will spend a bit more to get a better deal!
There are a couple of important things to remember when you are setting your Ticket Sale End date and Final Draw dates for your raffle.
When you set your Ticket Sale End date and Time, it’s good to think about a couple things:
How are people buying their tickets?
- Only online?
- Online and at an event?
- Only at an event?
- When are you planning to draw your winners?
As you set up your raffle you will notice that the system enforces a minimum 15-minute “black out” period after your ticket sale end date during which you will be unable to perform your draw for the winners.
We enforce this “black-out” period in order to ensure that you have, at minimum, 15 minutes to process any final transactions or offer refunds before a final draw. Setting the proper ticket sale end date will ensure your raffle runs smoothly and you’ve got the time necessary to handle any last minute transactions before your draw. We suggest you leave more time than the 15 minutes between your ticket sale end date. Our recommendation is to have ticket sales end the day before you draw for winners.
Final Draw Date
Your Final Draw date is also important to consider. You will be using the Funding Change system to draw winners, so remember that any ticket purchaser has the right to witness the draw.
This means that your final draw date should be a time that works for you while being reasonable for your ticket purchasers.
If you are conducting a purely online raffle (no event sales) then setting your final draw date at a date and time during normal working hours and performing the draw at your offices is the recommended approach.
If you happen to offer online sales and event sales, doing the draw outside of your event time is recommended as it may not be possible for all the ticket purchasers to attend your event (especially if it is a paid event) and should the draw be held during the event time, they would still have the right to witness the draw.
Although announcing the winner at the event is important, please consider that every ticket purchaser has the right to witness the draw and plan accordingly.
As you outline the prizes you are offering for your raffle, it is important to ensure a couple key factors are considered.
When allocating your prizes, you will be required to name the prize and declare the retail value of the prize. Legally, many provincial regulators require this information to be stated to ticket buyers. The amount does not need to include taxes.
The system allows you to enter a brief description of your prize(s), drag and drop them to re-order them, edit them and even move them from one draw to another if necessary.
Keep in mind that your raffle rules will state the order that the prizes will be drawn, so the order you enter the prizes in to our system is the order in which we will draw for them.
For example, if you have multiple prizes and enter them into our system, we number them. The numbers represent the order in which our system will draw for the prize. With number one being the first draw made. If you have multiple prizes and want the "grand prize" drawn last, it should be the highest number in the prize list.
Lastly, when you've set up your raffle, make sure you visit the customize raffle page to upload images and preview what your raffle will look like on desktop, mobile and tablet. If your prize name is too long, it may not show properly on the raffle page. If that is the case, you'll need to go back to your dashboard to the "Edit Raffle" page and edit the prize name.
Important Aspect to Consider
If the prize you are rewarding the winner is from a Split the Pot draw, where they receive a percentage of the total sales, you need to take into account the processing time we require for the final transfer of funds.
We ask that you allow 7 business days between your stated Final Draw date and the time you state in your rules that you will award the prize, to allow for processing and transfer of funds from Funding Change to you.
If you plan to award the prize at an event, you may be required to have some or all of the funds available before the draw in order to fulfill the prize total obligation. When you have completed all the transactions including any refunds (if applicable) you can check the final sales of your raffle by clicking "Raffle Stats". You can work out your Split the Pot Prize total from those stats.
To find more information on the timing and process of raffle funds transfers during and after your raffle, click here.
Did this article answer your questions? We’d love to hear from you! If so, reach out to us online, visit our FAQ page or give us a call if it’s between 9am and 5pm (CST) Monday to Friday at 204-480-4090.