The main difference is choice. Name buys give you contact information for students who fit your criteria, but you can’t tell whether they’ve heard of your institution, and the same names are often sold to many other colleges.
With Handraisers, students and parents/guardians who follow you on Scoir choose to share their contact information with you specifically. You start with families who have already shown interest, so your outreach goes to people who actually want to hear from you and already think your school is a good fit.