Silent Auctions: Benefit Auctions Are No Place For Bargains
Two BIG mistakes are hurting your auction profits!!
We’re talking THOUSANDS of dollars left on the table.
Here’s the breakdown…
When some folks hear the word “Auction,” they think it will be their ticket to scoring SWEET DEALS on fan-tab-u-lous items that they want to take home.
In other words, BARGAINS.
But for successful Fundraising, we always want to create a culture of giving. Giving and bargains just don’t go together.
So listen up fundraisers!! We’re going to learn why Benefits Are No Place For Bargains!
When people come to your benefit auction, you want to do everything you can to get them in a GIVING frame of mind.
You want them giving and giving GENEROUSLY because they love your organization and genuinely want to support it.
That’s what benefit auctions are all about. But you may be hurting your profits by making easily preventable mistakes...
Huge Mistake #1 “More For Less”
When I attend events, one of the first mistakes I see is a Wall of Wine with the “added benefit” of buying multiples to get “more for less.”
Right from the beginning, you’ve got your attendees thinking about how to get a DEAL, and once they’re in a bargain-hunting mindset, it’s far too likely to continue throughout the night.
Easy Solution #1
Instead of offering options for multiples at a discount, make all bottles the same price.
If you have 100 bottles at $20 each, you could make up to $2,000.
But if you ALSO offer 2 bottles for $30, you may sell them ALL in pairs and only make $1,500.
Why leave $500 on the table when you don’t have to??
Huge Mistake #2
This idea of avoiding the discount mentality is EVEN MORE important when you’re selling raffle tickets.
When you offer raffle tickets for $100 each OR 2 FOR $150!
...Not only are you creating a needlessly difficult situation for tracking ticket sales, you’re making it harder to reach your maximum potential for that raffle.
Offering more than one price on raffle tickets creates a lot of unnecessary work that can be streamlined by offering them at one price only.
AND when you have a predetermined NUMBER of tickets to sell at a predetermined PRICE, it’s much easier to set realistic fundraising GOALS.
Easy Solution #2
Make all the raffle tickets the same price.
The Ultimate Consequence of Bargain Hunting Mentality...
When you’re selling a big ticket Trip to Greece, a bargain-hunting mentality could cost you THOUSANDS of dollars.
Now that you know the quickest way to eliminate those blasted bargains...
Let's go raise some money!