Dec 16, 2020

5 Ways to Use Silent Auction Data for Successful Fundraising

A side view on a dark spreadsheet containing encrypted computer data with a glowing graph line in the middle.

At GiveSmart, we see thoughtful and creative fundraisers think #OutsideTheRoom, at every opportunity they have. Virtual silent auctions are a great way to help you meet your fundraising goals, and with a powerful fundraising platform like GiveSmart, you’ll have lots of data at your fingertips to better understand what happened at your silent auction.  But what does it all mean, and how can you apply it to achieve even greater results next time? 

We wanted to highlight how looking at your silent auction data more in-depth can further drive and capture new donor giving. To that end, here are 5 strategic ways to utilize your silent auction data in your fundraising strategy: 

  1. Look at the ones who missed out on the prize, what did their bidding tell you and what price point might they most often bid at? See if you might be able to tie an auction item into meeting that price point to gain those dollars. You can also double down, where you offer the same item to a second or third person at the price they were willing to pay.
     
  2. Use the bids report to see who was interested in an item but did not win that item. This not only enables you to see what they were willing to spend but further will give you insight on their giving capacity.
     
  3. Find the gem items and identify items to avoid. For instance, anyone bid on that safari to Africa? Or did more people than could win the bid on a gem item you can source a higher quantity of in the future?
     
  4. By using your bid history reports strategically you can see how many bids an item received and filter out items that only had a couple of bids.
     
  5. Using the data gathered you can also estimate growth in giving opportunities and benchmark goals based on that growth. 

In the fundraising world, standing out and being able to maximize every opportunity to raise money for your cause is key to your mission success.  With the right data and the knowledge to interpret it, you can help grow your organization with every event. 

Bonus Tips— 

  • Guarantee a sale of an item once again. 
  • Pull a data list for those who were auction watchers, not bidders, and see if there is a way you can entice them to bid on something in the future. What about bringing out an item at the end as a surprise for all those who haven’t bid on something yet? Or consider sending out a separate wrap-up email that targets that specific list after the event? 

Related

August 16, 2021

Empowering your baby boomer donors

If you run a nonprofit organization, it’s wise to set your sights on baby boomer…

Read More
Egyptian pyramid
April 2, 2021

The Fundraising Pyramid and the Donor Life Cycle

Find Your Supporters Wherever They Are! The fundraising pyramid is a traditional starting point for…

Read More
January 11, 2021

How to calculate net gain from your nonprofit event

With in-person events off the table — at least for the time being — many nonprofits have switched…

Read More
clients-B

What our clients say

We needed a platform to make sales online and to track and display ads for our sponsors. GiveSmart was perfect. We ended up making close to $15,000 more than we had hoped for. Definite better ROI than we anticipated. The interface is easy to use and provides plenty of options to get help if needed.

Michelle M.

The Rotary Club of South Whidbey Island

Using GS has created ease in auction bookkeeping, payments, and generating post-event thank you/tax letters. While we were online during COVID, our interactions with our GiveSmart via phone, email, and zoom were seamless. A representative always got back to us within the day. I would recommend GiveSmart to anyone doing a large online event.

Julie G.

MicroFinancing Partners in Africa

GiveSmart is highly flexible - you can use it for [a] simple registration and check-in, to full-scale galas with complex order forms, onsite upsells, live auctions, seating management, and more.

Jamie F.

Hope Chest for Breast Cancer

GiveSmart is easy to use and ideal for virtual events and can be used for in-person events to manage the silent auction, seating charts, and check-in to the event. Being able to use the platform for unlimited events within the contract year is very useful and being able to add other users and volunteers for different levels of access is helpful as well.

Dawn L.

Literacy Coalition of Palm Beach County