It’s auction season! Luckily, while we still have to wait a little longer for those fully in person events, there are tons of good ideas and options for hosting an auction or fundraising event online. One thing this massive upheaval of our lives has provided is an environment that rewards creativity and is full of people eager to engage with their community again. Which means, it is the perfect time to try some new strategies for fundraising and expanding the reach of your network across the web.
Virtual Auction’s
Covid won’t be canceling this auction season!
No doubt, after a full year of various degrees of social lock down, your organization has probably already held some virtual announcements, meetings and maybe even concerts or social media selfie parties. But fundraising probably took a dip last year as everyone was adjusting. Here are some tips for how to avoid “garage sale” auctions and actually get some of your money’s worth out of these events, even if they are entirely online!
A big difference between virtual and in person auctions is the timeframe. Virtual actions should last a few days to two weeks. To keep engagement over that length of time, add creative elements to the auction throughout its duration. For example, some of your items could have an extra prize attached to them that you would advertise each day or week, for the first person to bid over a certain amount. Keep the amount they need to bid and the auction item the prize is attached to a mystery. A huge advantage to virtual actions is their length of time. Use this to reach more people and find ways to drive up the bidding.
It is also vital to invest in online auction software with mobile bidding capabilities, to catalog your items (pictures, pictures, pictures) and track event engagement. The good news is if you invest in this software now, virtual events do not have to end once social restrictions are gone. You can host a wider range of fundraising events in the future and virtual events tend to have a lot less overhead costs. Also, remember to look for software that will work well with your other tools if you plan on using live streaming or other virtual elements for your event.
Another tip to get higher attendance and engagement is to encourage early registration and build up excitement for those who have registered. Offer early bird extras like free raffle tickets or early bidding access. Market the fact that your auction software is also mobile compatible and have a contact number before and during your event that can help people troubleshoot technical issues who are trying to attend.
Lastly, silent auctions often have a hard time generating excitement and items go out the door way under value. Mitigate this by setting your starting prices strategically and having a few items a day that are auctioned with livestream bidding and an emcee who can be the auctioneer that adds a bit of urgency and energy.
Not to shamelessly plug ourselves, but it is a good idea to consult with planning professionals if you have never held a virtual auction before. Event planners will be able to make sure your event software has all the elements you need and is user friendly. They can also help with strategizing the best ways to advertise and help with getting the best auction items for your target audience! Happy auctioning!