Looking for ways to squeeze more revenue from your silent auction? Your tried and tested formula has probably produced great results in the past, but it's always good to find new ways to raise more for your cause or organisation. Here are three ways you can reinvigorate your fundraising efforts to deliver impressive results:
Tablets on tables revolutionised silent auctions. They dispensed with the need for paper and allowed fundraisers to maximise returns via new technology. However, the returns from table tablets are being outstripped by mobile technology that allows guests to download auction platforms straight to their mobile device. Mobile bidding means guests can bid from wherever they are (even at the bar!). Table tablets have to stay at the table. That means if guests need to nip to the bathroom, or chat to a guest at another table, they could miss out. Payments can also be made via the same mobile device. No more queuing at the end of the night to finalise payments (which is tiresome if your guests are ready to leave). Successful bidders can pay for their items on their own mobile device and head home without delay.
Opening up your silent auction to supporters who can't attend the event is a brilliant way to raise more revenue. Attendees at your fundraising event are likely to be limited to local supporters. There are also only so many tickets available so a sell-out event means some potential bidders will miss out. But what if you can enable supporters who can't be at the event to still take part in the silent auction? Online bidding means anyone (potentially anywhere) can place a bid at your silent auction.Â Â Just a few bids from key supporters can make a huge difference to the amount raised.
Selling multiple lots of the same item can yield big returns. Multi-sell items capatalise on bidders' enthusiasm for certain prizes. Think luxury holidays or exciting adventure packages â€“ prizes that are likely to appeal to lots of bidders (and can be sold multiple times). GalaBid recently sold the same item 7 times which generated over Â£1,500 (AUS $2,000) in additional profit for the charity.
Adding a just a few fresh elements to your silent auction can give your fundraising revenue a big boost.