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Have you heard? There is a massive travel budget, or money that people set aside each year for vacations, in North America. According to American Express, well over half of Americans have a travel budget (and we all know that percentage is probably much higher among the guests at a typical charity fundraiser). In fact, a whopping $600 billion is spent on leisure travel each year! For many nonprofits, offering travel in the auction opens the door to a whole new revenue stream—travel budgets completely separate from a donor's 'philanthropic' budget. We could certainly use access to more revenue streams, but I don't think our audience really has the money to buy trips. Valid point. But if you've never offered travel at your fundraising event before, you may be underestimating the giving power and travel budgets of your audience. Surveys show 83% of winning bidders budget $5,000 annually for travel. What's more, 53% budget at least $10,000 per year for vacations. What this means for your nonprofit: An overwhelming majority of your audience has set aside money to spend on a vacation package that they'll spend one way or another... whether through your fundraising event or with a travel agent. Okay, some people in our audience are probably buying at least one trip this year. How do we know where they want to go? While some cities and attractions maintain popularity year after year (think Hawaii and NYC), there are new, up-and-coming destinations and activities poised to become big winners at fundraising auctions this fall. Check out our infographic highlighting the biggest travel trends of 2016 (spa day, anyone?), then learn how to quickly and easily reserve Winspire Experiences that cater to any niche traveler.
Click the full screen icon in the bottom right corner () to view larger One of the most common challenges we hear from event fundraisers is ever-increasing revenue goals. Sound familiar? It is very rare to see a fundraising event’s revenue goals stay flat or decrease the following year. In fact, the revenue goal almost always increases while more resources, more budget and new strategies are rarely deployed. Fairly soon after you experience the high of reaching your goals, reality sets in and the stress starts all over again. What you need: a fresh, emerging revenue strategy. One of the most underutilized strategies is redirecting donor travel budgets with no-risk travel. Surveys show two-thirds of winning bidders take 3 or more trips per year. Almost half take 4 or more trips, and nearly 20% say they take 6 or more trips annually! People want to experience life through travel, and it just so happens the sort of supporters you are trying to identify and develop into major donors travel a lot. What this means for your nonprofit: If you're not already offering travel at your annual auction or fundraising event, you could be missing out on a huge opportunity. Check out just a sampling of the benefits of offering travel: Stand out from the competition. Improve your overall branding. Encourage supporters to spend their annual travel budget at your event. Attract new donors and identify potential major donors. With no-risk travel, you can sell multiples with a guaranteed return on investment. Read on for the 3 step process to including travel in your fundraising event.
With more people packing their bags and looking for adventure, it's no surprise that travel is one of the most popular and best selling charity auction items. Most people who attend charity fundraising events have a substantial travel budget, or money they set aside specifically for leisure travel. In fact, we've surveyed more than 1,000 winning bidders and found that 83% budget at least $5,000 each year for vacation travel.
Strolling through the streets of Paris with your sweetheart is the perfect way to celebrate your anniversary. But your 50th birthday calls for a party… Imagine you and some of your close friends on the beach in Cancun, enjoying an all-inclusive luxury resort. Or maybe your father-in-law is retiring and you want to get the family together to celebrate with a long weekend in Napa, staying in a 3-bedroom cottage at a winery. Point is, there are times when a shared experience is right for the occasion, which is why offering group opportunities for traveling with family and friends to your donors can dramatically increase the money you are able to raise in your live auction. It's a big trend! The latest trend that we’re seeing from nonprofits across the country is more travelers asking about group trips that include four or more people. Why? Because people love traveling in groups! Group experiences are popular for people of all ages - whether it's a couples retreat, family trip or a group of girlfriends celebrating a special life event. A few examples include...
Travel is one of the most popular and best selling charity auction items in North America. Why? Because most people who attend charity fundraising events have a substantial travel budget, which is money they set aside specifically for vacation travel. In fact, according to American Express, 53% of Americans save money each year specifically for travel. To see what that statistic looks for an audience at a charity fundraising event, we surveyed over 1,000 winning bidders and found that of those who bid on travel packages, over 69% budget at least $5,000 each year for vacation travel! This means a vast majority of your charity event patrons already have money set aside for travel that they will be spending one way or another, whether it's at your fundraising event or somewhere else. By offering travel as part of your auction event you are giving them the opportunity to fill two needs with one deed: Spend their travel budget on an incredible Experience while supporting a cause they believe in. Tapping into these travel budgets means offering exciting travel packages with unique locations that people will actually want to buy. When procuring auction trips, consider these four factors to ensure you appeal to donors so they place bids on the perfect vacation. 1. Distance The amount of miles donors have to travel to reach their vacation destination can influence the perceived value of an auction trip. Trips tend to be more expensive than other auction items, and donors may not want to shell out the big bucks to visit a location nearby.
For many years now, experiential travel has been a top seller in charity auctions and raffles. Whether you use a no-risk travel provider or you and your committee put together travel packages yourself, offering donors incredible vacations is a great way to generate excitement and revenue at fundraising events of all sizes. Whether you're hosting a live, silent or online auction, or you are boosting your efforts with a winner's choice raffle, experiential travel is the ultimate incentive to offer your donors. Why? We narrowed it down to three main reasons why travel performs so well at charity auction fundraisers: 1. Travel is Unique With virtually unlimited options for destinations and experiences all over the globe, you have a lot to work with. Travel can mean many things: There's leisure travel, business travel, adventure travel... even interstellar travel! But when it comes to charity auctions, most event patrons are interested in one thing: Experiential Travel. Experiential travel is the kind of highly sought after, hard to find and unique experiences that you usually find on people's life-long bucket lists. An experiential travel package is typically comprised of three things: airfare, lodging and a planned experience at your destination. Examples include: Private behind-the-scenes wine tours in Napa Valley VIP red carpet access at famous Award Shows Race named in your honor at Churchill Downs With such a variety of options (The world is your oyster!) you never have to worry about offering the same old items at your event. This is especially important in today's event fundraising space, where donors are subjected to many of the same charity auction items year after year. The challenge is to stand out and still provide unique opportunities for people to support your cause, which can be difficult as fundraising events continue to increase in attendance and sophistication.
Tapping into your donors’ existing travel budgets is an excellent strategy for raising money. It gives your supporters the chance to use money they already have set aside for vacations to take an exciting trip and support a good cause at the same time.
Special events are the most widely used method for cultivating new major donors. Nonprofits host big events as an entry point for potential high net-value donors to come learn about the cause and meet the people behind the scenes (that's you), planting the seed for a relationship that moves them toward major giving. The toughest piece of this donor cultivation process - especially at a big fundraising event - is building that relationship. If you're busy running around and you only have time to introduce yourself to a few people, who do you spend your time socializing with? How can you tell which new faces in the room may be interested in - or have the resources for - becoming a major donor? Even once you've identified these people, how do you go about setting up a post-event meeting to further discuss their involvement? One of the best ways to zero in on these folks is through offering big-ticket live auction items like Experiential travel packages. Here are 8 steps for cultivating major donors using no-risk auction travel packages:
There are numerous strategies for connecting with potential donors and inspiring them to help your Nonprofit. One resource that organizations often overlook is that of donor travel budgets. Vacation travel is a massive global industry. According to a study by the U.S. Travel Association, $597 billion was spent on leisure travel in 2012.