Silent Auction Fundraising

Why the Traditional Silent Auction Fundraising Model Reduces Outcomes?

Standard silent auction fundraising events are migrating to the web in order to eliminate inherent inefficiencies and invite an entirely new audience of cause-minded consumers to participate in this growing marketplace.

Silent Auction Fundraising

The 7 Inefficiencies of Silent Auctions Fundraising:

  1. Non attendees, typically 70% of a constituency, cant (and don't) bid at silent auction fundraising events
  2. Suppressed competition - clipboards don't exactly follow you around a room when you have been outbid
  3. Many bidders are reluctant to be aggressive enough to fight it to the bitter end, thus leaving money on the table
  4. Social distractions suppress bidding at silent auction fundraisers
  5. Many attendees are put off by being forced to "fight the crowd" which suppresses bidding
  6. Item performance data is not tracked and stored
  7. The minimal (unmeasured) marketing value to item donors means less items in a increasingly competitive item acquisition environment

According to Jon Carson, CEO of BiddingForGood, "Silent auction fundraising puts a damper on bidding and by limiting bidding with artificial time and place constraints of the event many constituents are simply unable to bid." Carson adds, "These bidders are often affluent consumers who have real purchasing power who can help drive up the price of any number of items."

Top reasons why silent auction fundraising should be brought online:

  1. 100% of donors can bid from anywhere 24 x 7 (more bids = more money)
  2. No fighting the crowd - no awkward ending (more competition = more money)
  3. Item donors get added and measureable marketing exposure in a competitive economy giving them one more reason to donate (more items = more money)
  4. Online sponsorships offer existing sponsors more marketing value, or an upgrade opportunity for more/better items (= more money)
  5. All bidding data is organized into reports, compared with other like organizations, and stored for next time
  6. Constituents can email the auction to friends and family expanding the bidding pool
  7. Email addresses of winning AND losing bidders can be stored for next year

In the years ahead, nonprofit fundraisers will need the very best fundraising toolbox possible and an online auction fundraiser will increasingly be a standard tool in that toolbox. The e-commerce trend is too strong and the advantages vs. inefficiencies of online vs. silent fundriasing auctions is too obvious. Conclusion; over time most silent auction fundraising in whole, or in part, will be held online.

Would you like to learn more and start planning your next fundraising event with the help of our experienced auction team? Schedule a 15 minute call now!