How Smart School Fundraisers Improve their Profits

How Smart School Fundraisers Improve their Profits

 

Learn what the experts do and how they succeed

Organizations need money now more than ever. It seems that district budgets are being cut on a regular basis. Even things previously paid for are now the school’s responsibility. Schools use fundraising for essential things like text books and even teacher salaries.

This puts extra pressure on school fundraisers to perform. Money can no longer only be earmarked for extracurricular activities like field trips. You’re also limited on the number of sales you can have.

These are things that make achieving your sales goals of utmost importance. While crucial, too many sponsors think the product alone will get them to the promised land. Or, if they offer a great incentive, students will get excited and the sales will come in.

Discover 2 ways good sponsors overcome hurdles and improve their profits anyway.

1. Choose Your Incentives Wisely

At least your incentives won’t hurt you. That is, unless you had to pay for them and you still don’t reach your goal. Many sponsors are under the impression that students shouldn’t need prizes. The mission alone is enough to get sales.

That may be the case for a few older student groups. Some will feel compelled, otherwise they won’t get to experience the benefits of being a part of the group. But tell that to an elementary school student. They’re going to sell because they want the prizes.

A good place to start is to look at what the company is offering. Most offer similar prizes. The cheap stuff requires little selling but the better prizes need some effort.

Will students want what you’re offering? Hopefully, everyone gets a prize for selling something. It’s important to analyze how many more items students must sell to get to each higher level. Is the prize at the next level worth the extra effort?

To answer this question, there’s actually a delicate balance. You want your students to see the value in striving for that next level. But you don’t want to make it too easy either. Yet, if the goal is too high, students won’t try for it. Keep in mind, your ultimate aim is to raise money, not have students win prizes.

You can improve sales by supplementing with extra prizes. There’s a variety of ways to do this but there are generally 3 main categories:

  1. Top seller prize
  2. Grand prize drawing
  3. Prizes during your sale

The top seller and grand prize is usually something big and exciting. It should be worthwhile enough to make everyone want it. The advantage to rewarding the top seller is the one who sells the most gets the spoils. The disadvantage is most will tune out except for a persistent few.

The grand prize drawing gives more students the feeling that they can win. But there’s also a certain level of uncertainty. One great way to help this is to allow students who sell more to enter their names more often. Fir example, sell 5 items and your in the drawing. Sell 10 and you get to put your name in twice, and so on.

Yet, even though they more improve their chances of winning, there’s no guarantee. Students whose name is in only once can still win. But this is also what makes the drawing intriguing.

Speaking of drawings, you can do periodic drawings during your sale as well. Seeing other students win prizes can prove to be a great motivator for their peers.

There are even ways to reward these prizes without spending money. Special school privileges can work just as well as tangible prizes. There are tons of unique school fundraising ideas that can make a difference in your results.

 2. School Fundraisers Need Kickoffs

You now have your incentive program in place. Once implemented, you’re hoping for a boost in sales. How do you now convey your plan to your students? It will be important to meet and go over your goals and objectives.

To succeed, students need to know what they need to do and what you expect from them. Your meeting also allows you to build enthusiasm and create sales momentum.

Be sure to tell your students about the proper way to approach potential customers. The 2 most important things to communicate are who they represent and the purpose. This is a great starting point.

Sellers should also have a good understanding of their product. This makes it easier to sell. What’s in the brochure and what do the items cost? It’s also important to think about products they may want to highlight. Since they already know the people they plan to talk to, this should be easy.

If you have high school students, ask them to create prospect lists. These are people who they plan to approach first and are most likely to buy. Having a list will help them get out of the gate quickly.

You’ll also want to emphasize sales accountability. Meet with your sellers at specific times during your sale to check on their progress. Continuous tracking and feedback is important, and will help them reach their goals.

With the right plan, sponsors will help take school fundraisers to an even higher level.

Check out Elementary School Fundraising Ideas for Great Kickoffs

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