Not only do silent auctions bring in money for your cause, they can also be a great marketing idea for nonprofits seeking new donors. Because you’ll need to do a little pavement-pounding to collect the items up for bid, you’ll have the opportunity to forge new relationships within the local retail community, leading to future revenue.
Putting together a silent auction is a lot of work, but it isn’t as hard as you may think. The first steps are to organize your mission statement, write a letter to potential donors, and create a form through which they can submit donations of merchandise or gift certificates. Set up deadlines on when the items need to be collected and when the auction will begin and end. All this information should be in the cover letter handed out to local business owners and managers.
Next, you’ll need to take a walk. Have two or three of your employees canvas several retail strips within your community. Make sure they can speak intelligently and passionately about your cause. Widen your search for items by advertising the auction on social media and Craig’s List. In your online advertisement, you’ll have the opportunity to reach out to potential bidders, too. As donations roll in, take a photo of each and share them on Facebook, Twitter, or your nonprofit’s website to further entice the bargain-hunters and philanthropists you aim to reach.
Select the Venue
An essential part of a successful silent auction is finding one high-traffic venue willing to host a board of items for a few days to a couple weeks. Small, locally-owned coffee shops and organic grocery stores are both excellent options. Typically charitable, they’ll also be hungrier for cross-promotion.
Promote, Promote, Promote
Once you have a bevy of items, a venue, and a schedule, continue to promote via print and social media. Customers can register online, receiving a bidding identification number in the process. Set up your auction board with attached photographs and space for bidders to write their I.D. number and bid amount. Don’t forget to supply pencils.
Let Them Know Who Won
Once the auction has ended, collect the bids, and notify all winners by the contact information required for registration. Appoint a time and place to pick up and pay–perhaps your non-profit headquarters over the course of a week. After that week, if a winner has not collected his item, default to the next highest bidder. This part of the process usually takes a while, with winners floating in and out over the course of several days.
Now Go Launch Your Silent Auction
A successful silent auction can bring in hundreds, even thousands of dollars depending on what type of items you receive and how many you collect. While a fair amount of hard work, it’s an excellent way to spread awareness of your cause and pull in revenue at the same time.
Contact us for more advice on how to make your small business or nonprofit a success.