Top 10 Online Fundraising Auction Tips for 2010

With more organizations incorporating online fundraising auctions into their fundraising repertoire, maximizing this fundraising strategy in 2010 is paramount. Here are the top 10 online fundraising auction tips for 2010.

1. Market Your Auction Online – Use multiple communication channels to market your auction online. Be sure to incorporate email, social media, and local TV and radio stations to help market your auction online.

2. Apply for sponsorships – Income generated from sponsorships is exempt from any fees and can help offset your online auction expenses. Remember that you can give back to your backers by putting your name and logo in front of desirable followers, on the auction landing page, and in your emails.

3. Find the Right People – List the job functions required for your online auction, then enlist the help of people with skills that match your requirements.

4. Creative and informative article descriptions – Make sure your article names are descriptive, but also intriguing and interesting. Remember to also include detailed descriptions that include all terms and conditions.

5. Set reasonable initial offers – Inflating offers and initial values ​​will not generate higher offers or income if they are not reasonable. Typically, it’s best to start your bid at about a third of the item’s actual value.

6. Stagger the addition of new items: Instead of listing all the auction items when the online auction opens, try staggering the addition of new items. This encourages subsequent visits to the auction site and also allows you to stagger the opening and closing dates.

7. Promote Your Auction Online – For the duration of your online auction, be sure to constantly promote your auction to your followers, donors, and members via email and social media platforms.

8. Request Specific Auction Items – Tell people what auction items you are looking for and the approximate value range you want.

9. Use reserve prices on key items – Be sure to set reserve prices on any items purchased or on consignment so you don’t lose money. Also, always set reserve prices on any items that a donor requires that cannot be sold for less than a certain amount.

10. Recognize Donors: Show your appreciation to donors by giving them recognition and links to the items they have donated.

Sadly, many organizations will lose fundraising revenue by not incorporating these online fundraising auction tips this year.