I received raises like that, in a very conventional corporate environment and with strict cost controls in place, because I was basically saving my manager's bacon -- as I was internally hired to do -- and doing it a significantly less cost than the "conventional" (big iron) route. He had significant seniority within our part of the org and used it to get this done.
But, that was fairly exceptional.
In another role at another corporation, I was repeatedly lauded by my coworkers -- the ones with whom I actually worked and who had real technical chops. But my immediate org structure was more than a bit political, and my role was defined by corporate as a fairly mundane and low-level role. 4% was the cap, and almost no one got that. Ability didn't rule the decision: Executive-level budgets and politics did.
So... You've better assessed your value. Be prepared to move one, before and when asking for it. You may have to. If you have a solid competing offer, this may also strengthen your argument/negotiation with your existing employer. Don't "threaten" them; rather, an offer shows that someone -- an "independent party" or even a "competitor" -- considers that valuation to be fair.
A final caveat: If you get to the point of having that offer, it may be best to leave and take it. As others, I seem to recall, have pointed out, here, causing your existing employer to match a competitor's offer may breed unexpressed resentment on the part of your management. And, regardless of that, they will worry about whether they will end up having to explain and justify the bump to other employees if and when asked about it and without facing wholesale escalation in their wage structure.
TL;DR: Having stuck out assignments having low raises, I'd say you may have to -- and ultimately want to -- change jobs/employers.