Sponsored: Why The Future Of Fundraising Is Digital
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Auctions have been an important, if not critical, aspect of non-profit fundraising for nearly half a century. Traditionally auction bids were made on paper. Whether it was sealed bidding or a silent auction, paper determined the success of fundraising auctions.
However, the digital revolution is making paper based fundraising auctions redundant.
While digital fundraising platforms offer an unprecedented experience for fundraisers and auction bidders alike, moving away from traditional paper based systems can be a challenge.
Tried and tested practices can be hard to leave behind, so just how compelling is the argument for digital fundraisers?
- Guests Expect Digital Platforms
“There’s an app for that” is a mantra for the digital generation. Wherever we are and whatever we’re doing, most of us expect information to be accessible via our mobile devices. From restaurant menus to museum guides, we’ll invariably look to an app to tell us what we need to know.
Fundraising auctions are no different. While guests may be used to paper-based systems, harnessing their affinity to digital platforms makes sense.
Because the vast majority of auction guests (young or old) will be digital savvy, digital auctions are a positive experience. The process is kept simple and easy to understand to ensure maximum participation. Plus, technical support can be made available for on-site help with quest queries and registration.
- Digital Fundraising Raises More
The difference with digital as opposed to paper-based bidding is that guests have an opportunity to keep upping their bids for the items they really, really want.
Digital auction technology is designed to get the competition firing on all cylinders. Bidders are notified in real-time when they have been outbid. Rather than being stuck with a one-off bid, digital auctions mean they can keep upping their bid until they secure their item.
There’s also the option to hold pre-event bidding. We find that up to 40% of the auction fundraising takes place during pre-event bidding
All up, this means higher bids and more funds raised for your charity or cause.
Don’t forget that digital also means that guests can see and obtain information on every single auction item. It’s a little tricky to display a Bali holiday on a prize table but guests can see beautiful images and get all the information they need right there on their phone or tablet.
- Digital Auctions Engage Audiences
Don’t worry, just because fundraising guests have their phones out it doesn’t mean you’ll be faced with a room full of people with the noses glued to their screens.
A digital auction makes bidding fun and turns the fundraising into a vibrant event all by itself. The competitive bidding element creates such a buzz around the room. There’s genuine and palpable excitement as guests discuss who’s bidding for what.
The leader board keeps all eyes on the game. Guests can see who’s in the race to get the top items and who’s just outbid them on their favourite item!
Of course, it’s all in good humour and with fundraising in mind. But the addition of digital technology can really inject a lively, positive vibe to the occasion. And there’s genuine transparency in the auction proceedings too with no risk of missed or doctored bids.
- A Digital Auction Is Cost Effective
You may be surprised at just how cost effective a digital auction is to purchase and run, but the key issue is that the investment reaps rewards.
On average, our clients realise a 30% uplift in revenue raised when they make the switch to digital auctions. The ROI means the auction platform effectively pays for itself while still raising more funds for the charity or cause.
Want to know more? Contact us at GalaBid. We’d love to hear from you.
Peter Hair, GalaBid Co-Founder.
