Live Auctions: How To Attract BIGGER Bidders with Strategic Planning
Are you looking at how to attract bigger bidders to your benefit auction?
I’ve had many conversations with clients who are looking to get bigger bidders in the room, but aren’t doing what it takes to attract them yet, because they’re stuck in some old thinking.
But don’t worry, I’m here to help!
How do you know if you have the right types of bidders at your event?
We shared a little on the 4 Types of Donors in a previous post, and once you know who'll be there, you can use your knowledge to attract big bidder to your event year after year.
The truth is, attracting bigger bidders always goes back to the question...
Are you throwing a Fundraiser or a Friendraiser?
If you want to have an event that’s geared towards large donors and large donations, you’ll want to attract Philanthropists and Competitive Bidders. And that means you’ll need to focus your efforts on creating a top-notch Live Auction and Special Appeal, and you’ll need bidders who are ready to spend their money on things like luxury vacations.
If you offer loads of small-ish items like gift certificates in your Silent Auction, you’re more likely to attract lower-bidding Bargain Shoppers, and you’ll lose your Philanthropists and Competitive Bidders, because gift certificates just aren’t likely to pique their interest.
It may feel counterintuitive, but you don’t have to “include something for everyone” by always having a silent auction, a live auction, a special appeal, and a raffle.
Many organizations choose to eliminate their silent auctions altogether, so they can focus on putting their energy where it will yield a higher Return On their Investment of TIME.
Some organizations have gone so far as to only host a Special Appeal / Fund-A-Need because they know the only thing their donors require in order to give generously is a fun night out.
Whatever you decide, remember that when the event is done, whichever type of bidders you cater to the most will be the ones who are likely to return in the future.