About one in 4 donors give to a nonprofit by way of an public sale. In case you’re operating your charity auctions on-line, you’ll have a lot of knowledge 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’ve got discovered to realize even better fundraising outcomes together with your public sale subsequent time?
Evaluating your silent public sale knowledge 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 knowledge to enhance your fundraising technique.
1. Take a look at the Public sale Packages with the Prime Bids
What public sale objects bought probably the most bids? Those bidding patterns provide perception into the place you elevate a beginning bid to generate extra income. It additionally gives perception into what public sale objects it is best to preview with subsequent 12 months’s company to generate pleasure.
If you will get related objects subsequent 12 months, see should you can provide any as a double-down, providing the identical merchandise to a second or third particular person on the worth the dropping bidders have been keen to pay.
2. Take a look at Public sale Packages with the Fewest Bids
Whereas probably the most bid-on objects inform you a large number — and might profit your donor stewardship — packages with the fewest bids additionally provide nice perception to your occasion staff and committee.
Think about 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 loads of work to get these objects?
By strategically utilizing your bid historical past studies, you’ll be able to see how few bids an merchandise acquired and filter out objects that solely had a number of bids to curate a higher-quality public sale. It should additionally assure a better return on funding (ROI) to your public sale.
3. Run a Report on the Losers
Take a look at the bids report back to see who was enthusiastic about objects however didn’t win. Don’t neglect to take a look at what they have been keen to spend. Particularly if the identical particular person misplaced a number of objects, they could have walked out of your occasion with cash they wished to present.
Trying on the losers offers perception into their giving capability and the place you can provide further giving alternatives at your event. Your main giving staff can leverage this knowledge 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 may also help drive data-driven decision-making for these vital choices.
An extended opening time is likely to be a sensible alternative should you solely host a digital public sale with none in-person parts. When you have a program with a sturdy dwell public sale and paddle elevate, think about closing your public sale forward of these moments, so donors know the way a lot they’ve already given within the night. When you 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 centered in your audio system.
Additionally, think about your public sale checkout course of. Employees and volunteers can take time to maneuver objects and set up. Persons are typically keen to select up their objects and depart instantly after the public sale closes. Evaluating your entire occasion and refining your run of present may also help generate extra income general to your occasion.
5. Examine Common Successful Bids to Prior Yr’s Common Successful Bids
Extra isn’t all the time finest. As you take a look at the variety of packages and the common 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 might take much less time and will generate extra occasion income general.
Leveraging silent public sale knowledge is essential to elevating your general fundraising occasion technique.
By analyzing the objects that garnered excessive and low bids, you’ll be able to refine your choices, alter pricing, and even uncover hidden donor potential by 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 in opposition to previous outcomes gives a transparent roadmap for steady enchancment. Embracing these data-driven insights sharpens your public sale and lays a stable basis for sustained fundraising occasion success.
Are you searching for extra steerage on leveraging public sale knowledge? Take a look at GiveSmart’s Final Knowledge-Pushed Public sale Fundraising Information to study what you are able to do together with your public sale knowledge as an alternative of guessing.
