About one in 4 donors give to a nonprofit by way of an public sale. Should you’re working your charity auctions on-line, you’ll have numerous information to raised perceive what occurred at your silent public sale.
However what does all of it imply, and how will you apply what you might have realized 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 here 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 Prime Bids
What public sale gadgets acquired essentially the most bids? Those bidding patterns supply perception into the place you elevate a beginning bid to generate extra income. It additionally supplies perception into what public sale gadgets it’s best to preview with subsequent 12 months’s visitors to generate pleasure.
If you may get comparable gadgets subsequent 12 months, see in the event you can supply any as a double-down, providing the identical merchandise to a second or third individual on the worth the shedding bidders had been prepared to pay.
2. Have a look at Public sale Packages with the Fewest Bids
Whereas essentially the most bid-on gadgets inform you a large number — and may profit your donor stewardship — packages with the fewest bids additionally supply nice perception to your occasion crew and committee.
Contemplate what patterns you’ll find with gadgets with the fewest bids. Was the worth level too excessive? Are they a part of a distinct segment class? Was it lots of work to get these gadgets?
By strategically utilizing your bid historical past stories, you may see how few bids an merchandise obtained and filter out gadgets that solely had a number of bids to curate a higher-quality public sale. It’ll additionally assure a higher return on funding (ROI) on your public sale.
3. Run a Report on the Losers
Have a look at the bids report back to see who was enthusiastic about gadgets however didn’t win. Don’t neglect to have a look at what they had been prepared to spend. Particularly if the identical individual misplaced a number of gadgets, they might have walked out of your occasion with cash they wished to offer.
Trying on the losers offers perception into their giving capability and the place you might supply further giving alternatives at your event. Your main giving crew can leverage this information in sponsorship, main giving, and legacy planning conversations.
4. Consider Your Public sale Opening and Closing Occasions
Nonprofit workers 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 will help drive data-driven decision-making for these essential selections.
An extended opening time could be a sensible alternative in the event you solely host a digital public sale with none in-person parts. You probably have a program with a strong reside public sale and paddle elevate, contemplate 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 visitors and donors are solely targeted in your audio system.
Additionally, contemplate your public sale checkout course of. Employees and volunteers can take time to maneuver gadgets and arrange. Individuals are generally keen to choose up their gadgets and depart instantly after the public sale closes. Evaluating your entire occasion and refining your run of present will help generate extra income total on your occasion.
5. Evaluate Common Profitable Bids to Prior 12 months’s Common Profitable Bids
Extra is just not at all times finest. As you take a look at the variety of packages and the typical gross sales worth 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 total.
Leveraging silent public sale information is vital to elevating your total fundraising occasion technique.
By analyzing the gadgets that garnered excessive and low bids, you may refine your choices, regulate pricing, and even uncover hidden donor potential by means of 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 supplies 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 steering on leveraging public sale information? Take a look at GiveSmart’s Final Information-Pushed Public sale Fundraising Information to be taught what you are able to do together with your public sale information as a substitute of guessing.
