If your organization hosts a spring or summer fundraising event, we hope you're getting more and more excited as the day approaches, donations roll in and plans begin falling into place.
But we know for many, the planning period is very stressful.
As we prepare for next week's webinar all about crafting strategic live auction timelines, we want to address the webinar attendees who have asked, "How do I refresh my 14 year event?"..."Our auction used to pull in five times what we got last year. What can we do?"..."Is it time to give up and move on to another type of event?"
Our quick response: Never give up. Fundraising auctions are still a fun, fast, and efficient way to generate a lot of money for your cause. But they must be done properly.
In today’s post, we'll focus on the quickest way to cure a stagnating event: revitalizing the auction catalog. Many factors can influence bidding and revenue, but the quality and fit of items offered is priority number one.
Read on for 4 practical cures to restore your auction to good health, including:
- Evaluate sales history
- Apply a hefty dose of "WOW" factor
- Start from the ground up
- Consider bestselling items
Best of all, these tips are perfect for getting a first-time auction off to a roaring start. Let's begin!
Whether your auction is live, silent or online, it’s critical to put out the right items for your audience.
The best auction items appeal to many people in your audience, complement the event theme, and have high potential for significant bids.
How can you determine what's right for your audience?
First, look carefully at past revenue. What items have sold like hotcakes in the past? Which ones were duds? Focus your procurement efforts on items with a history of good sales.
(Important note: Anything that didn’t get a bid last year, should not be put out again this year.)