You don't mention much about your job: level of experience, skill required, industry, size of the company, etc. These are factors that impact the raise situation.
That said, I'll just assume that your job has a reasonable amount of skill required and that you are at least at an average level of experience and that you have other employment opportunities.
As a number of people mentioned, some companies will not give substantial raises unless the "have to". Getting an offer from another company would help you get a raise. But at that point, why wouldn't you just take the other offer? This is especially true if you are relatively junior, since diversifying experience is really good. Even if your company matches the offer, they likely won't be offering big raises until you find another offer down the road.
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