Many organizations canceled their spring 2020 galas, hoping to reschedule them for the fall. The ability to hold in-person galas may not return as soon as we had hoped. But that doesn't mean you have to wait to raise funds for your organization.
All SchoolAuction.net, Tofino Auctions, and PartySupporters customers can run pure online auctions. If this is of interest to you, here's how to get started.
While online-only events can't replicate the energy that drives up bidding at in-person events, there are some steps you can take to maximize their fundraising potential.
Run your online auction in stages, starting with a well-curated Silent auction.
A well-curated auction includes items that have broad appeal, display well in your catalog, and are likely to generate lots of bidding interest. If you have a large selection of gift cards, be aware that these don't often yield much online income. But you may be able to combine some of those gift cards with other items and create more interesting auction packages. For instance, if you've received a lot of restaurant gift cards, you could create a Give the Cook a Month Off package.
When it comes to online auctions: less is more. Ideally, you want to get 5 - 9 bids per silent item, in order to maximize earnings. This means offering fewer items. Think about the number of people likely to bid in your online auction, and limit the number of items you're offering to 35% of that amount. That means if you expect 100 people to bid, you'll want about 35 Silent online items in your catalog. If you've already procured more items than you need, set some aside for a future event and/or combine some of them into more appealing packages.
Plus and Premium customers can also run a Virtual Live Auction - a low-latency, livestream event in which an auctioneer sells items to online bidders/viewers.
Standard customers can follow up their Silent auctions with an online Live auction. Convert your Live auction items to Silent items and set up a separate bidding group for them, so that they open after your regular Silent auction closes.
Promote the heck out of your online items. Be sure to send your supporters an invitation to bid. Remind them to bid high and bid often to support the good work your organization does. Update and resend your invitation to bid daily with a list of who leads the bidding for your most competitive items. Include a list of items that are too-good-to-be-true deals to goose bidding on those. The goal is to spur a sense of heightened competition among your bidders.
Use the Extended Bidding feature, so that any item with active bidding near closing time automatically remains open to capture last-minute bids.
Use Max Bidding so that bids are placed faster.
Be sure to turn on outbid notices! (Plus/Premium subscribers can enable outbid text messaging.)
After your online Live auction closes, tally up what you've earned from your Silent and Live items. How close are you to meeting your goal, or to what you typically earn at your gala auction?
Now its time to launch an online invitation to give. You can either include an online paddle raise in your catalog or direct your supporters to your Give Page to serve as your virtual Paddle Raise. For the Give page option: Edit your invitation to give to thank everyone for their support thus far. Let them know how much they've raised already, and how much your organization still needs to meet its goals. Remind them of all the great things their donations support.
You can raise money for a single fund or for multiple funds. And Plus and Premium subscribers can set up recurring donations on their sites.
We hope this helps.
Stay healthy out there.