Your destination for insight into the world of event fundraising and charity auctions.
When it comes to fundraising events, the live auction is almost always the "meat and potatoes" of the night, hauling in an estimated two-thirds of your total revenue. In addition to the fundraising main course, many events both large and small benefit from employing a variety of revenue enhancers. These are the "appetizers, sides, drinks and dessert" that can translate to tens of thousands of additional dollars for your cause - or at the very least, more fun and participation for all your guests.
The best silent auction items generate a flurry of back-and-forth bidding until one winner is crowned. Indeed, the competitive nature of bidding is what makes charity auctions such an entertaining fundraiser - and what drives bids higher and higher. However, what happens to 2nd and 3rd place bidders? When they don't win that coveted Date Night basket or flat-screen TV... those once-pledged dollars often end up walking right out the door at the end of the night.
Successful charity auctions require high quality auction items. Step one: assembling your procurement team. Like any legendary group of heroes - think Avengers, X-Men, Fantastic Four and Super Friends - your committee is faced with a seemingly insurmountable task. To succeed, you'll need driven, creative people who demonstrate tenacity and come from all different backgrounds. Most importantly, they must be willing to step up for your cause when it counts.
In last week's post, we discussed a simple yet often overlooked principle of fundraising auctions: analyzing the different spending tiers of bidders at your event. Today we share 4 practical steps to use this information by customizing your live auction with top tier spenders in mind.
When nonprofits have hosted the same event for years, it's common to reach a plateau. Wondering how you can break through a slump and once again generate record profits?
We recently received the following email from a Winspire webinar attendee... EMAIL WINSPIRE NEWS Dear Winspire, My board feels that paying $2,500 for a professional, highly-trained benefit auctioneer is out of line, considering a local personality has offered to facilitate the live auction for $250. How should I respond? ~ Lisa Lisa, this is one of the most common concerns we hear from auction organizers across the country, and it's easy to understand why. The number one priority at a fundraising event is to raise money for your cause. When an opportunity to trim costs by 90 percent comes along, you want to consider it! That said, we've found it's more effective to focus on generating more revenue first - then trim costs where you can.
Do you post retail values on your auction items' bid sheets, display sheets, auction catalog and more? Do you leave them off? Does it matter? There's a wide range of opinions, and the decision can have big implications on how much you're able to raise. Read on to learn why and how organizations determine an item's fair market value; the pros and cons of sharing those values with your donors; and our suggestions on when to display and when to omit prices.
Whether it's your first or fiftieth auction, chances are you could benefit from employing some new techniques to extract money from the audience. There's virtually always money left to give, and new strategies give you the tools to raise more without making guests feel nickel-and-dimed. Today we're joined by Nelson Jay, the "Bowtie Benefit Auctioneer" based in Seattle, Wash. In a recent episode of our podcast Events with Benefits, Jay provided a bevy of ideas from the cutting edge of event fundraising.
When it comes to charity auctions, many organizers simply "don't know what they don't know." Unfortunately, a lack of professional expertise is the #1 reason events fall short of their revenue goals. To help provide the expertise needed for success, we interviewed Cheryl Parker, certified benefit auctioneer specialist in San Diego, Calif., for a recent episode of event fundraising podcast Events with Benefits. Parker shares her simple - yet often overlooked - strategies for generating as much revenue as possible at auction events.
Spring may have only begun last week, but it's already time to start thinking about fundraising ideas for the summer. Thanks to a slew of holidays and more relaxed schedules, summer is the perfect opportunity to engage donors with smaller events and short giving campaigns. Even better, you'll be competing with less competition from other nonprofits to stand out in a crowded space. One strategy is hosting a charity golf tournament. Why are they so popular?