Many organizations depend on fundraising to help them operate and reach their goals. However, organizing successful fundraising events can become hit or miss over time, especially when an organization is small and stretched thin.
A popular fundraising event for organizations of all sizes is a silent auction. Research, planning, and hard work are all necessary for a silent auction event to run smoothly and produce a positive return on your investment. However, since a silent auction takes less human resources than other events, it can inject much-needed funds into any organization’s budget.
Let’s look at the essential components of running a successful silent auction fundraising event.
Choosing The Platform For Your Silent Auction Fund Raising Event
Today, there are options for how you will run your silent auction fundraising event that extends beyond the old self-made bid sheet. While the premise of a bid sheet is still an integral part of a silent auction, technology has elevated the process to extend beyond a physical event.
Auction websites allow you to host an online silent auction event capable of reaching audiences outside the physical boundaries of your organization’s location. This online platform is suited for any organization and provides a template for a successful event.
Pricing The Items Listed On Your Silent Auction
The pricing of the items offered on your silent auction fundraising event is essential to ultimately accumulating higher bids. You can choose to price the object at its retail value if known or place a value on the item based on what you feel it is worth. Remember that the minimum starting bid is meant to be a launching point incrementally increased until the end of the auction timeline.
Item Title And Description
Your guests will be drawn to an item’s title and description, which will prompt them to place a bid. Ensure that you make the title big, bold, and catchy to generate excitement. Likewise, the item’s description needs to support the identification and offer vital information such as expiration dates, exclusions, price caps, and details of the item itself.
Recognize The Donors Of Your Items Up For Auction
A successful silent auction even recognizes the donors of items auctioned and donated to your cause. Each item should be listed with its donor’s information on your bid sheet, and if possible, other places on your event’s website. Donors who feel appreciated will be more likely to participate in your next silent auction or other future fundraising events.