About one in 4 donors give to a nonprofit by way of an public sale. If you happen to’re operating your charity auctions on-line, you’ll have plenty of information to raised perceive what occurred at your silent public sale.
However what does all of it imply, and how are you going to apply what you could have discovered to realize even higher fundraising outcomes together with your public sale subsequent time?
Evaluating your silent public sale information in-depth can additional develop giving and even seize new donor giving. Listed below are 5 methods to make the most of your silent public sale information to enhance your fundraising technique.
1. Have a look at the Public sale Packages with the High Bids
What public sale objects obtained probably the most bids? Those bidding patterns supply perception into the place you increase a beginning bid to generate extra income. It additionally offers perception into what public sale objects you need to preview with subsequent 12 months’s company to generate pleasure.
If you will get related objects subsequent 12 months, see for those who can supply any as a double-down, providing the identical merchandise to a second or third individual on the value the dropping bidders have been keen to pay.
2. Have a look at Public sale Packages with the Fewest Bids
Whereas probably the most bid-on objects inform you a large number — and may profit your donor stewardship — packages with the fewest bids additionally supply nice perception to your occasion workforce and committee.
Take into account what patterns you will discover with objects with the fewest bids. Was the value level too excessive? Are they a part of a distinct segment class? Was it a whole lot of work to get these objects?
By strategically utilizing your bid historical past studies, you possibly can see how few bids an merchandise obtained and filter out objects that solely had a number of bids to curate a higher-quality public sale. It should additionally assure a higher return on funding (ROI) in your public sale.
3. Run a Report on the Losers
Have a look at the bids report back to see who was all in favour of objects however didn’t win. Don’t overlook to have a look at what they have been keen to spend. Particularly if the identical individual misplaced a number of objects, they could have walked out of your occasion with cash they wished to present.
Wanting on the losers provides perception into their giving capability and the place you possibly can supply further giving alternatives at your event. Your main giving workforce can leverage this information in sponsorship, main giving, and legacy planning conversations.
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4. Consider Your Public sale Opening and Closing Occasions
Nonprofit employees and committees have opinions on how lengthy to maintain an public sale open and when to shut it. Taking a look at previous public sale efficiency might help drive data-driven decision-making for these important selections.
An extended opening time could be a wise selection for those who solely host a digital public sale with none in-person components. You probably have a program with a strong reside public sale and paddle increase, take into account closing your public sale forward of these moments, so donors know the way a lot they’ve already given within the night. You probably have a speaker and impactful mission moments, you don’t need your public sale to shut throughout these moments in order that company and donors are solely targeted in your audio system.
Additionally, take into account your public sale checkout course of. Employees and volunteers can take time to maneuver objects and manage. Persons are generally keen to select up their objects and go away instantly after the public sale closes. Evaluating your complete occasion and refining your run of present might help generate extra income general in your occasion.
5. Examine Common Successful Bids to Prior Yr’s Common Successful Bids
Extra shouldn’t be at all times greatest. As you have a look at the variety of packages and the typical gross sales value throughout event-post-mortem, compare it to prior years.
Auctions take a substantial quantity of labor. Suppose 50 public sale packages yielded you marginally lower than 75 public sale packages. In that case, different turn-key wrap-around fundraisers or income enhancers could take much less time and will generate extra occasion income general.
Leveraging silent public sale information is vital to elevating your general fundraising occasion technique.
By analyzing the objects that garnered excessive and low bids, you possibly can refine your choices, modify pricing, and even uncover hidden donor potential via those that got here shut however didn’t win. Moreover, fine-tuning your occasion’s timing—from public sale openings to closings—ensures that each second is optimized for donor engagement and income era.
Benchmarking your present public sale efficiency towards previous outcomes offers a transparent roadmap for steady enchancment. Embracing these data-driven insights sharpens your public sale and lays a strong basis for sustained fundraising occasion success.
Are you on the lookout for extra steerage on leveraging public sale information? Take a look at GiveSmart’s Final Information-Pushed Public sale Fundraising Information to study what you are able to do together with your public sale information as an alternative of guessing.
