Are you a small or growing business that wants to get its name or brand known to more people. Have you thought about running a small lottery?
A lottery (with a good prize) is a fun way to engage with your customers, as well as to meet new ones and get tour name out there. As a small business owner, you may be worried that running a lottery will be a lengthy and expensive process. However, recent data shows that in the long term, it can help your business to grow quickly.
How exactly does starting a small lottery help your business grow? You may be surprised at the answers!
Increases Customer Engagement
The key way that a lottery system can help small businesses to grow is that these intermittent experiences significantly boost customer engagement with your business. If you are operating a business online, or you are doing it in person, you may notice that during periods of operating a lottery (whether it’s to win money or a voucher), there will be an increase in foot traffic on your site or in your store, as well as higher sales. Why? The reasoning is simple. Lottery systems add an element of excitement as well as anticipation to the shopping experience, especially if you’re offering an extremely high-value prize. Of course, if you offer lotteries all the time, they will lose their significance, so try to aim them around holidays or unique events. You can even get help running your lotteries if you need it, from companies like https://www.woodsvalldata.co.uk/.
Impulse Purchasing
Another aspect to consider is that when you add lottery tickets at a checkout, whether it is in-store or online, you will see an increase in impulsive purchases. This then adds to a boost in overall sales, helping your business to grow.
You can even use this to your direct advantage. By stating something like ‘if you purchase this item, you can get this many entries into a lottery drawing for a reduced price,’ this boosts revenue and will often lead to higher levels of purchasing as well.
Easy Accessibility
If you do not have a mobile app or online platform, you may want to invest in one. Why? By leveraging technology such as websites and apps, you can make it easier for your customers to take part in the lottery that you are offering. Convenience of access will lead to higher rates of participation and revenue for your business. It will also make it easier for people who may not be able to physically visit your store to take part in lotteries, making it more accessible to those who may have mobility issues, which is always good for word of mouth and business growth.
Increase In Your Brands Visibility
Going back to online platforms and apps for a moment, lottery services that are offered by small businesses will typically create a buzz online, which will usually lead to free word-of-mouth marketing. People get extremely excited about lotteries, and this can act as a way to promote your brand and business without you having to spend a fortune on marketing expenses. A lottery also gives you a reason to have a large promotional campaign. This will also increase your brand or business’s visibility both on and offline.
