A staple of many charity events, ranging from live auctions to formal dinners, is the door or raffle prize. These items can serve as great advertising points while also bringing a level of fun and excitement to any occasion. But to really get the most out of having a door or raffle prizes, you have to make sure at least one item is truly spectacular.
So, how do you choose that one item that is sure to draw attention (without necessarily busting the budget)? By focusing on the perception of luxury.
A prize doesn’t have to be expensive to be considered a luxury; all it has to be is highly desirable and not a necessity. For example, many households consider having a coffee pot is be a necessity. It is also a need that can be met with a $20 drip coffee maker from any big box store.
However, some of the new single-serving brewers are seen as a luxury even if they are still under $100. Why? Because it isn’t the version you need to meet the need, and it costs more than some perfectly reasonable solutions. So choosing a nice single-serve coffee maker can be a great prize, and it doesn’t have to bust the budget.
Define the Budget
Now that you understand what makes an item feel like a luxury, you can begin to narrow down your list of potential prizes. The first step is to outline your budget and to determine how it needs to be divided. In some cases, you only intend to give away one prize, so you can dedicate your entire budget to that item. But you may also want to divide your budget across multiple prizes.
In cases where multiple prizes will be awarded, consider dedicating around half of the funds to the biggest prize. That way it will stand out from the other offerings distinctly, which makes it awarding more exciting for the crowd.
How to Choose Great Prizes
Once you have your budget managed, it is time to do some thinking and some research. For example, the idea of giving away a boat would definitely drum up interest, but you don’t have to approach the idea from a traditional angle. Instead, you can look at smaller variants that will still attract attention. Take some time to read some fishing kayak reviews, and you may find an affordable option that still has the luxurious feel of offering a boat as a prize.
Also, don’t be afraid to look for options at store sales, outlet stores, or discount retailers. You may find great pieces that still feel like a luxury even if you get them at a discounted price. Small kitchen appliances and certain electronics can be found for surprisingly reasonable amounts if you put in some effort during the search.
For example, consider finding a reasonably priced tablet computer. Some versions can provide hours of entertainments, and are made by name brands, but can be purchased for well under $100. Since a tablet isn’t a necessity for everyday living, the chance to win a tablet can feel like a real luxury. And advertising that a tablet is available to win is a great point to advertise.
Just take you time when trying to choose and consider what items would be great to own, but often get left out because they aren’t where a typical person will invest their money. Then, you can create a feeling of luxury, even if you buy a bargain.