The auction is over, receipts are in and thank you letters sent out. You can breathe a sigh of relief and take a much-deserved break. But as you look back over all the preparation and hard work that went into your auction, do you wonder if it could have been done a little easier and a lot more efficient?
What about that swanky Hawaiian vacation everyone was eyeing? Did it really bring in much revenue? How do you know? Auction software helps you determine which items actually made money and which weren’t worth the effort of procuring them.
When you look around on the evening of your auction, the room looks full; but have you really filled each table? With software, you’ll know. Not only that—you’ll know how many people ordered the chicken or the salmon for dinner, making it easier to plan for next year.
Event software helps you track:
- Which items were most profitable.
- Whether the live auction or the silent auction was more successful.
- How much revenue was generated by admissions versus auction sales.
- Which types of donors contributed the most.
You may discover your audience really loves children’s items but doesn’t care much for health or beauty services. Now you know where to focus your procurement strategy for next year.
Software can’t tell you everything, but it can give you valuable insights to help your committee stratigize for the future. You may discover that the Hawaiian vacation is only 26% profitable, but you know it’s the draw that gets people in the door. Who knows? Maybe if you throw in some scuba gear, you’ll increase the bidding rate. With auction software, it’s no longer a guess.
Have you used auction software for your event? We'd love to hear about it! Leave us a comment with your experience - good or bad - and let us know how the software compares to your old auction binder.