Model X P90D Raffle Feedback

[geran]

I work for a non-profit in New Mexico that was recently donated a 2016 Model X P90D with ludicrous mode and about 20,000 miles on it. We are considering raffling it off, and I was looking for feedback from the Tesla community on the structure of the raffle. Would you be more likely to purchase a ticket at $1000 dollars if the cap on tickets was 250 (1:250 odds) or a ticket at $75 dollars with a cap at about 15,000 tickets sold? We are also going to cover tax and shipping costs for the winner. Thank you for any and all feedback!

 

[Gwgan]

I think the charity matters. The larger donation would appeal to their charity supporters, smaller donations would appeal to people who just want to try for the car. The real question is who is your target audience? Is it large enough to get enough $75 ticket sales.

 

[hurrrrz]

I am a little confused by the huge difference in targeted money to raise. I think you should start from where you'd like to land in terms of raising money, based off that, you should look at different options in terms of ticket price and spread.

 

[geran]

I am a little confused by the huge difference in targeted money to raise. I think you should start from where you'd like to land in terms of raising money, based off that, you should look at different options in terms of ticket price and spread.

Thanks for the reply and sorry for the confusion. So we have a base amount we would want to hit, which is what those price variances are based off of. I guess my main question is would a higher ticket price with better odds (where we would have sell far fewer tickets) be a better option than a lower ticket price with smaller odds (where we would have to sell quite a few more tickets). I hope that makes sense.

 

[geran]

I think the charity matters. The larger donation would appeal to their charity supporters, smaller donations would appeal to people who just want to try for the car. The real question is who is your target audience? Is it large enough to get enough $75 ticket sales.

Yeah that's a great point and something we are struggling to find out. Honestly our target audience is anyone we can reach. Our non-profit works to end poverty in NM, so obviously people in New Mexico will be more likely to care about the org. But, New Mexico has very little Tesla infrastructure and is not a high population state, so we want to reach people outside of the state as well.

 

[geran]

Also, the $75 ticket should 1:1500 odds not 1:15000. I apologize for the typo

 

[Bogobec]

I think that at 1000$ per ticket, you are targeting a pretty high end class of people. I have the means to buy me a Model X, but I won't invest 1000$ in a lottery ticket for sure.

Maybe something more along the lines of:
1 ticket : 75$
3 tickets : 200$
10 tickets : 500$
etc.

 

[Derek Kessler]

The kind of people who would gamble $1000 are the kind that would just buy a Tesla anyway. $75 tickets will draw a much wider audience; I think you'd have much greater success on the lower end.

 

[geran]

Thanks for all the feedback, it is greatly appreciated!!

 

[tangent]

What is the cause of the charity? Please keep me posted!

 

[geran]

What is the cause of the charity? Please keep me posted!

We are working to end poverty in New Mexico! I will definitely keep you posted thanks for your interest!