You may have noticed that online fundraising has gained popularity in recent years, with people abandoning the traditional forms like car washes, elegant dinners, and concerts.
People are now using GoFundMe and other forms to raise funds as individuals or organizations. The outbreak of the coronavirus made online fundraising not only the preferred form of raising funds but also the easiest, cheapest and most convenient.
People needed ways to support individuals, families and communities that could not cover the fees that came with medical care for the coronavirus and other basic necessities.
If you are reading this article, chances are that you are interested in generating a steady stream of funds for your non-profit. Well, today is your lucky day! We will share invaluable information on how to raise funds for a non-profit using the Catch the Ace.
Catch the Ace is simply an online raffle-based fundraising method. We will share how it works, the benefits of using it, and a simple step-by-step method to get started.
Whether you are just starting your non-profit or already established in this field, you will greatly benefit from this article. So, grab your pen and note-pad.
What is an online fundraiser
An online fundraiser is a funding event held entirely online to raise money for a charity.
While there are many ways to raise money online like virtual auctions and webinars, today, our primary focus will be on online raffle-based fundraising, specifically, Catch the Ace.
What is Catch the Ace
Catch the Ace is a multiple-draw lottery in which players buy tickets for a chance to win big.
Catch the Ace is associated with a wide variety of names, including Queen of Hearts and Chase the Ace – You are pretty much chasing the Ace of Spades to win big.
A player buys a ticket for a shot at winning both the weekly and progressive jackpots. The bearer of the winning ticket selects a card from a 52-card deck with the hopes of picking the Ace of Spades. This raffle could go up to 52 weeks, or until the Ace of spades is retrieved.
How does it work
Every week, a draw is arranged in which one ticket is randomly picked as the winning ticket.
The winning ticket holder in each draw is given a chance to choose one playing card from a single deck. If the participant is lucky enough to choose the Ace of Spades, they win a percentage of the proceeds from the weekly draw and the entire progressive jackpot.
However, if the drawn card is not the Ace of Spades, the participant goes away with the proceeds from the first draw. The chosen card is removed, and the progressive jackpot portion of the ticket sales is carried over to the progressive jackpot for the next slated draw.
The lottery will run until the Ace of Spades is selected (which can be for a duration of 52 weeks) by one lucky participant, and the progressive jackpot is finally won.
How are the wins split
You might be wondering how the wins are distributed or how your non-profit will benefit. Typically, 20% of the wins are awarded to the winning participant, 30% for the progressive jackpot for that week and 50% to the non-profit organization.
Benefits of implementing a Catch the Ace program
There is no cap on the number of tickets you can purchase as the raffle holder. The more tickets you buy, the lower the price per ticket, which reduces your overall costs.
In addition, players can buy as many tickets as possible to raise their chances of winning. The more tickets people buy, the larger your total funds are raised.
The possibility of a double win
Catch the Ace allows participants to win more than once. A winner of the weekly draw can also bag the progressive jackpot which makes it a an enthralling experience for participants.
With each draw, your odds of winning big increase
If the card disclosed after the weekly draw is not the Ace of Spades, it is discarded from the deck because there are fewer cards to pick from, the odds of snagging the Ace of Spades and winning the progressive jackpot increase each week.
How to get started with your very own Catch the Ace
Consider the legal requirements
Even if your online raffle-based fundraising is for a good cause, it is still considered gambling. For this reason, most jurisdictions in the United States and Canada regulate charitable raffles and lotteries, which means you’ll need to apply for a licence to hold one.
Before lodging your application, you should have concrete and detailed information on the type of raffle you intend to hold, including the ticket price, the prize to be presented to the winners, the raffle activity calendar and the technology solutions company for a licence.
Ascend can help you with all the paperwork you need to get a licence to hold your raffle.
Choose a raffle service provider
The raffle solutions provider you choose can determine how well your raffle does. Whether you are an established or budding non-profit organization, you need to choose a service provider offering as many services as possible to reduce the tasks you have to undertake.
Ascend Fundraising Solutions offers extensive services like marketing, promotions, licensing, analytics and running the entire online raffle-based fundraising. It is the only company that can offer a sweeping package for a non-profit looking to host an online raffle.
Establish a fundraising goal
The vital part of organizing an online raffle-based fundraiser is setting a goal. This will dictate your spending decisions, like ticket prices and the number of donors you intend to reach.
Identify your target audience
Identifying your core demographic, their media consumption patterns, and others will make planning and promoting your fundraising simpler. You should pinpoint which media channels to focus on during promotion and the kind of promotion that will most pique their interest.
Create a budget and a fundraiser calendar
Fundraisers are easier to put together by breaking them down into tasks and timelines. First, list all the activities to be completed and then organize them in order, with deadlines, timelines and possible costs. Set aside contingency funds for expenses that may arise along the way.
Deploy the tech platform and the event portal
An efficient technology platform, an attractive and compelling event website and a robust marketing campaign are critical elements for a successful online raffle-based fundraiser.
Event automation takes away the stress of event planning. It also allows you to thoroughly track analytics, which can be incredibly valuable during future online-based fundraisers.
Marketing and promos
To hit your financial target, you have to reach as many donors as possible. Consequently, your marketing has to be as intensive and extensive as possible.
You do not have to use every channel available. Instead, concentrate on the channels your target audience uses, such as email marketing, print, radio, and social media.
Determine success indicators
This fundraiser probably won’t be the last one you ever hold.
Therefore, you need to know how well it went to know your strengths and weaknesses and how to improve in the future. Success metrics can include but are not limited to ticket sales, social media mentions, clicks, engagement metrics, conversion rate, return on investment.
Once everything is ready, promotions are underway on the chosen channels, go live. You can launch your online gaming-based fundraising event with just a click thanks to technology.
Ascend Fundraising Solutions can handle the launch of your raffle and procedures like payment processing, collecting participant information and random selection of winners.
With their first-ever online Catch the Ace campaign, the Ontario Federation of Anglers and Hunters (OFAH) achieved enormous success after an enthralling campaign.
The raffle brought in over $400,000 in net donations, a 44% sharp rise in membership year over year and helped them reach thousands of new donors with their vision of conservation.
The raffle lasted 24 weeks. Ticket sales totaled more than $1.24m. It paid out $230,000 in weekly prizes and an almost $400,000 jackpot to the lucky Ace of Spades champion.
Online charitable gaming is a fun, engaging and compelling way to raise vast funds without injecting large sums of money into the campaign. Are you interested in scaling up your fundraising game, lack the expertise and experience?
Then, schedule a call with Ascend Fundraising Solutions and learn how it all works– We offer a cutting-edge platform and technological solution to guide you throughout your journey.
Gerald Ainomugisha is a freelance Content Solutions Provider (CSP) offering both content and copy writing services for businesses of all kinds, especially in the niches of management, marketing and technology.