How important are prize raffles and giveaways at corporate events?

by Ed Graziano, Corporate Event Interactive
Having produced interactive and team experiences for meetings and events for 20+ years I have seen and participated in a lot of prize raffles and giveaways at events. But at a networking reception last week, with a completely stuffed raffle drum and attendees feverously separating more raffle tickets to enter the drawing, it was the first time I spent quality time considering the value of prize raffles and giveaways at events. It was also at that moment that I realized that probably 95% of events I have ever attended offered some type of prize raffle or “swag” for attending.

Is this because the only reason people will stay at an event is if there is a chance to win something? Are we all that fickle? Wouldn’t we stay and tune into the event hosts message without a prize being the “carrot on the stick” keeping us there? As an event planner shouldn’t we just try to focus on having a great event, or do we lack so much confidence in our events that we need the allure of a Starbuck’s gift card or the latest electronic gadget to get people to listen to our message?
I notice now even at sporting events (the Chicago Bulls being my example) that t-shirts are shot from “cannons” or parachuted from the rafters. Maybe it is as simple as the potential of winning something adds to the fun. I know my son was appreciative when I snagged one of these parachuting t-shirts, even though at age 5 he would never fit into the men’s extra large t-shirt that was snagged. Or maybe the Chicago Bulls organization just realized we would have left the building without buying another soda or snack with the team down by 20 in the third quarter unless the possibility of “winning big” was still in play.
I am interested in your thoughts on the subject.