5 Ways to Get the Most Out of Your Virtual Auction

Hosting an auction is a fun and engaging way to interact with donors in person and raise donation revenue for your nonprofit. With the right auction items and event marketing tactics, your auction can bring your community together and pull some big bids from your supporters.

However, if your supporter base is spread out, it might not be feasible to gather everyone in person for your event. In that case, you can host a virtual auction to accommodate supporters near and far.

Planning and hosting a virtual auction might seem like a daunting task. After all, auctions are highly engaging experiences and require guests to be fully engaged—something that may be difficult to replicate through a digital screen.

If you implement the right auction software solutions and solid best practices, though, planning a virtual auction that’s fun, engaging, and profitable is well within your grasp. In this guide, you’ll learn how to get the most out of your virtual auction and make your event a smashing success. Let’s begin!

1. Carefully procure and promote your auction items.

The success of your virtual auction lies in the items you procure. After all, these items are what your supporters will bid and spend their hard-earned funds on! The items you offer will affect the size and number of bids your participants place.

Procure items that reflect your unique supporters and attendees. Work with your event sponsors to compile bundles and baskets that excite your supporters and resonate with their interests. You may scour your supporter data to choose items based on their demographics or send attendees a pre-event survey asking which items they’d be interested in.

For traditional in-person auctions, guests can often examine items in person or learn about them in a catalog beforehand. When it comes time to bid on an item, the guest already knows what they want and how much they’re willing to bid. In virtual events, your online attendees might miss out on this opportunity to familiarize themselves with the items.

That’s why it’s important to effectively promote your auction items ahead of time. Take photos of the items and post them on your website with detailed descriptions. You can also give supporters a sneak peek of your items on social media before the event. That way, you can encourage people to register for your auction if a specific item catches their eye.

2. Optimize the event registration process.

To facilitate the registration process, leverage event registration software. The right event registration tool can simplify registration, making prospective attendees more likely to sign up.

When selecting a platform, look out for these top event registration tool features:

• Customizable forms to ensure you ask all the necessary questions
• Simple design tools you can use to add branding, logos, colors, and other visual elements
• An integrated payment processor to manage transactions quickly and securely
• Options for attendee discounts and VIP packages to improve the attendee experience

Additionally, your software solution should meet your organization’s unique needs. Bloomerang’s event management software guide recommends looking for a platform that aligns with your event’s size, budget, and format. Read each platform’s reviews to gauge the provider’s typical customers and whether they’ve used the platform specifically for virtual auctions.

3. Personalize event communications.

These days, the average person’s email inbox is flooded with marketing content from different businesses and organizations. You have to work a little harder to make sure your auction communications stand out and aren’t sent straight to spam.

By ensuring your communications are targeted and personalized to each recipient, you can better reach your supporters and encourage them to engage with your content. For instance, small changes like simply including a personalized subject line can increase the chances recipients will open your emails by over 50%.

Consider these strategies to send more targeted virtual auction communications:

• Automate the inclusion of personal details like name and event registration status.
• Segment recipients into relevant groups within your nonprofit CRM to send them more targeted content.
• Contact attendees leading up to the event according to their communication frequency preferences.

When you take the time to personalize your event messages, you show attendees that you care about catering to them as individuals and can build excitement about attending your virtual auction.

4. Equip your attendees with a comprehensive bidding tool.

During traditional auctions, attendees typically bid in person, whether they’re raising a paddle during a live auction or writing on paper bids during a silent auction.

When hosting a virtual auction, consider alternative ways your attendees can bid to build that same competitive environment. Your solution has to be quick, efficient, and easy to use to facilitate a seamless bidding experience. To maximize the results of your auction, we recommend investing in a bidding tool.

While there are options for both mobile app-based and browser-based bidding tools, app-based solutions are the way to go because they’re:

• Intuitive and easier to use. With app-based bidding tools, the bidding experience takes place on users’ mobile devices. This allows them to use device features they’re already familiar with such as the camera, fingerprint technology, and phone gestures.
• More engaging. App-based solutions allow attendees to receive real-time push notifications that alert them when they’ve been outbid. They also offer features like swipe-to-bid and QR scan-to-bid that make the bidding process more interactive and exciting.
• Optimal for user experience. Apps load faster and more consistently on mobile phones than online pages and event systems do on personal computers. With a mobile bidding app, attendees can easily bid on items, build a watch list of their favorite items, and manage the checkout process—all in the palm of their hand.

You can even use an app-based bidding tool for future in-person auctions, too! Replacing paper bids in your silent auctions with a bidding app is a convenient way for guests to participate in the event and smoothly check out at the end.

5. Engage with your donors after the event.

Once your virtual event comes to a close, seize the opportunity to stay in contact with attendees and further engage them. Considering the average donor retention rate is only about 45%, it’s critical to keep your virtual auction participants involved with your nonprofit and build strong relationships with them.

According to Qgiv’s auction guide, you should take the following steps to engage donors after your event:

• Thank attendees. First and foremost, show your attendees you appreciate their participation. Make sure to send your thank-you messages promptly after your event to keep your auction and organization top of mind.
• Explain how people will receive their items. Let winning bidders know where and when they can pick up their items. Alternatively, you may deliver or ship items to bidders outside your local area.
• Share your plans for the items that didn’t sell. Be transparent about the items that didn’t sell at your auction. You may donate them, sell them online, or save them for a future auction.
• Send a survey. Gain feedback on your auction by sending a survey to attendees. Take note of any suggestions you can incorporate into future events.

Continue to engage supporters by sending updates about what their donations helped your organization achieve. For instance, a children’s hospital may share with attendees that the revenue generated from their latest virtual auction allowed them to give new blankets to all their cancer patients.

Hosting a virtual auction is a great way to engage your supporters while raising money for your mission. Make sure to center the attendee experience every step of the way and constantly iterate on your virtual auction strategy for the best results.

Author: Author: Joshua Meyer
VP of Market Engagement at Bloomerang

Joshua Meyer is the VP of Market Engagement at Bloomerang, a nonprofit fundraising software company. He has over 24 years of experience in fundraising, volunteer management, software, and marketing. Josh is passionate about helping nonprofits strive to fulfill their mission. He believes that nonprofits are essential to our communities and that they deserve the best tools and resources to succeed.

In his role at Bloomerang, Josh helps nonprofits acquire and retain donors through innovative marketing and fundraising strategies. He is also a frequent speaker at nonprofit conferences and events and has previously presented at AFP ICON, Nonprofit Marketing Summit, RAISE, Nonprofit Storytelling conference an numerous other nonprofit gatherings. Josh is committed to helping nonprofits make a difference in the world.

https://www.linkedin.com/in/joshuammeyer/