Weekly lottery is an amazing regular giving product for UK charities to raise more sustainable income for their good causes. It’s rapid rise in popularity as a fundraising product within the third sector has brought both benefits and challenges. As a fundraiser working with weekly lottery you'll constantly be looking for ways to improve your weekly lottery retention and acquisition. Read on for 4 quick and effective considerations to help you achieve more.
If you're a charity fundraiser working in raffles and weekly lottery, you might find our Prize-Led Fundraising Benchmarking and Trends webinar of interest which is now available on-demand.
Of course, the main benefit for charities operating a weekly lottery is the additional unrestricted income generated. It provides charities with a way of communicating with their audiences about good news stories, positive impact and the more joyous side of their work. Running a lottery can also often diversify the supporter demographic away from their traditional supporter audience.
But with the increase in the number of charity lotteries available to the public, combined with impact from the cost of living crisis, there is much more competition for ‘share of wallet’ when it comes to lottery. What’s more, cost per acquisition for new players has also increased in recent years making return on investment more challenging for this product where the minimum value is just £1 per week.
Here's 4 quick and effective ways to do just that.
Possibly the most important element of increasing lifetime value from your weekly lottery is knowing who your player-supporters are.
Use what you have now and plan to build this over time. Whether you find out through data analysis, audience profiling or persona building or direct survey, the information you have will help drive:
By knowing your supporters you will help build stronger relationships, communicate in ways which are relevant to them and show that your care about them leading to higher lifetime value.
The majority of cancellations happen in the first few months. No-show averages, or those that cancel before the first payment is taken, sits at around 8% and cancellations can hit 15-20% before three months on certain channels of recruitment. Knowing your own hot spots, by channel, audience and product, will enable you to build supporter journeys to reduce attrition.
Think about some of the ways you can engage with your RG supporters:
By setting up automated communications through your response handling partner, you can do this through a single set up delivering targeted communications to each of your identified segments.
It's very tempting to think that if we don’t remind players that they’re supporting us, they won’t cancel. But actually, lifetime value is built through lasting, ongoing relationships that take supporters on a journey with you. You will improve retention over time through:
Upgrades, when done well, generate loyalty and a higher lifetime value from your supporters. It’s best to thank and engage alongside the ask. Phone works well, with up to 15% response rates. We find an early upgrade ask can work well when combined with a thank you.
The ideal for most charities is to invite the new lottery player into a wider, longer-term relationship with the charity. Use your data analysis to identify which segments would be interested in which messages and additional ways to give from your charity – and test approaches to engage and build your relationship over time.
We not only recommend that you expand your methods of acquisition for new players, but that you also ensure the message is consistent across all media. This will increase your impact and optimise your overall investment.
Face to Face (F2F) has traditionally been the go-to for lottery acquisition either directly or as a regular giving drop ask – and it’s still the top way to recruit new players to your lottery. But we also know it might not be accessible to all charities. In these cases alternative recruitment methods need to be employed.
By diversifying your acquisition channels you are able to continue to acquire players at a sustainable level alongside, or without, F2F. Think about organic channels such as your own retail outlets, social media, website and volunteer, staff and corporate networks as well as paid channels such as DRTV, social ads and direct mail.
To summarise, the key to successful weekly lottery retention and lifetime value is building a successful two-way personal relationship with your supporters. That starts with acquisition and their first experience of you and continues throughout their lifetime with your charity.
Woods Valldata are specialists in weekly lottery strategy. When you work with us on your weekly lottery you have access to our friendly experts to support your:
Sound good? Drop us a line today to talk through how we can partner with you to enhance your weekly lottery retention and acquisition.