Increasing Silent Auction Revenue
- Kevin Pauley
- Oct 27, 2019
- 2 min read
It is all about timing and mindset.
Event timing and participant mindset impact success.
A common myth at fundraising events is that the longer the silent auction is left open, the more money will be raised. The truth is that each fundraising element at an event has a time when it is the most effective, and, after that, not only is its impact minimized, but it could distract from other fundraising elements. Additionally, a small change in language can help silent auction participants feel like donors instead of shoppers and minimize the number of attendees who are at the event looking for a deal!
A strategic, but not silent, way to close the "silent" auction
The silent auction should be open for bidding as soon as guests arrive, or before if using mobile bidding, and should close before the live auction begins. This allows us to focus guests on donating via the silent auction at the beginning of the event and create a similar focus on the live auction, Fund a Cause, etc. as the evening progresses. We can also create a focal point around the closing of the silent auction with a live countdown and perhaps even use the spontaneous mini-live auction technique. If an event is using mobile bidding, then we can coordinate live announcements with text notifications and a visual on the big screen that drives guest to help us exceed our silent auction goals. At an event just a few days ago, we used this combination of energetic announcements, visual cues, and technology to increase the silent auction revenue by 30% in just the last few minutes!
Extra time may not be on your side
Most of the bidding during the silent auction will occur in the last 10-15 minutes. You want those critical minutes to occur at a time during the event when you can create a focal point around the closing of the silent auction as described above. Unnecessarily delaying the closing of the silent auction only pushes back the rest of the program, perhaps negatively impacting the revenue of more profitable fundraising elements like the live auction and fund-a-cause.
Turn shoppers into donors
Everyone loves a good deal; however; if we can shift the mindset of silent auction participants from “bidders” to “donors” during the silent auction, then we can increase silent auction enthusiasm and revenue. When making announcements during the silent auction, address participants as donors. “Ladies and Gentlemen, only 10 minutes remain to donate via the silent auction tonight.” “You can donate by participating in the silent auction.” Shoppers and bidders are often looking for a deal; donors generously support a cause without evaluating what they get in return! You always want more donors at your event.
The final word
Timing is everything at a live fundraising event. Make the most of each fundraising element (silent auction, raffle, live auction, fund-a-cause, etc.) by conducting, promoting, and finishing each of them at the best possible time during the evening. At every opportunity throughout the evening, make guests feel like important donors. Generally, people will rise to the expectations that you set for them, and your revenue will rise as well.
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