If you’re a charity or not-for-profit and have a weekly lottery then you need to know more about Parallel Expansion Testing (PET).
PET is important to you because it could revolutionise the amount your organisation earns from lottery.
We know your traditional £1 weekly lottery is facing pressure from rising costs.
Unfortunately, it costs more to run your organisation and more to market your lottery. That means the positive impact of your lottery is slowly eroding.
The solution to the problem is simple: charge more for your lottery ticket and therefore keep pace with inflation.
Some organisations may see that move as high risk and a step too far without proof a price rise can work.
But if you want to build your confidence and find that vital evidence, we recommend Parallel Expansion Testing.
So, what is PET?
PET is a lottery testing program run on our unique community platform – a kind of A/B testing.
By joining the BeeSMART lottery platform for FREE, you can run a high value monthly lottery in parallel to your existing £1 weekly offering.
Your new £10 a month lottery will be clearly differentiated from your weekly lottery because:
· It carries a completely different name like ‘Monthly Superdraw’, or a title of your choice
· There is a completely different draw frequency and ticket price
· It has a membership package that includes attractive player enhancements (Gourmet Society and Coffee Club – worth £60)
Parallel Expansion Testing will allow you to quickly discover the value of the £10 a month model to your organisation. It’s a new approach which can more than double your lottery revenue.
And we have proof it works.
Our £10 monthly model now powers the UK’s biggest single cause lottery, with 215,000 people signing up since launch.
Testing can be conducted at your own pace but we recommend splitting your marketing budget between your weekly and monthly solutions for a set period of time, up to six months. This allows for attrition monitoring and provide a true comparison on your return on investment.
We’re confident your new marketing approach will quickly establish that there’s no customer barrier to a higher monthly ticket and hugely increased lottery revenue.
Parallel Expansion Testing is the gateway to future-proofing your revenues.
“PET is your chance to test new strategies without the risk – it’s the dream scenario.
The incredible success of our £10 monthly lottery model has resulted in 215,000 people signing up.
It’s a question that needs answering: why ask for just £1 a week when your kind supporters are prepared to give more?
At some stage, the costs of managing and marketing a £1 weekly lottery will hit your ‘percentage to good causes’ which could draw unwanted publicity and act as a red flag to supporters.
It is better to test today and prepare for tomorrow.”
Emily Hannan – Business Development Manager, Bee Ethical.