Here’s what we know – Fundraising & Event Professionals have limited time and resources to maximize their profits while simultaneously creating an incredibly high donor event experience. As someone who has worked side-by-side with hundreds of nonprofits over my 14+ year career, I’m currently seeing something incredible happen. Those who are being bold, creative and highly INNOVATIVE, are seeing their fundraising revenue soar! Are you ready to up your fundraising game? Below are my five tips to help maximize your revenue.
1. Take a deep dive into fundraising learning opportunities
Fundraising (like anything else) gets easier with increased knowledge and experience. By investing in learning opportunities within the space, you’ll inevitably take your skills to the next level. I know, I know…how am I supposed to find the time to research, learn, etc when I can barely handle my workload as it is? Trust me when I say, if you make the time for learning opportunities now, you will have the tools to maximize your resources (and your funds) for your next fundraising event. Speak to those nonprofit professionals who have had tremendous success post-2019. How did they adapt? Where did they take creative risks and succeed? Learn from industry professionals who have been in the trenches over the past few years and who’ve adjusted to cater and respond to new realities.
Not sure where to start? On March 28-29 in partnership with Trellis Social Enterprise Inc. I’m hosting a fundraising masterclass. This masterclass will include an interactive, hands-on experience with tangible takeaways to learn how to stand out in all the right ways, raise more, and save time from none other than the very best in the fundraising space. Learn more here.
2. Data driven decisions & demographics for silent auction and live auction offerings
To find the right silent auction items that will create a buzz & revenue, dig into your data! What are the top 10 categories in your silent auction? GIVE THEM WHAT THEY WANT! Don’t bother going after silent auction packages that don’t sell. If you are offering top-selling categories at varying price ranges, you should never see a NO BID item ever again and watch your revenue rise!
Great Live Auction packages are all about having the RIGHT items, at the RIGHT time, for the RIGHT people at the RIGHT price! What does that mean? SELL & CELEBRATE!
Only 3%-5% of the guest population will bid in the live auction, so consider the following:
- What do they want to bid on? Live auction trends change like fashion, and we saw that during the pandemic.
- Know your live auction product: What is HOT and what is NOT!
- Keep the item’s broad appeal to motivate as many bidders as possible.
- Varying package values to entice more bidders to join in.
- Wallet capacity- don’t offer a $20,000 package if the financial capacity is not in the room. The last thing anyone wants is for the charity, the donor of the item and your room to feel disappointed if the auctioneer can’t get the bids.
- R-Rated: if there are too many RESTRICTIONS, REPEAT items (you offer them every year) or if they are simply the WRONG item, don’t do it!
- Double it Up! Double revenue by offering a double-sell of a live auction package- just make sure to choose the right one!
3. Incorporate a novelty starter and golden ticket in the live auction
The benefit auctioneer announces an unexpected, novelty item to kick off the live auction. Maybe it’s a child’s backpack or homemade butter tarts made by a sweet volunteer. The item is mission-connected or event-themed and it’s of low value ($50-$100). Your benefit auctioneer kicks off bidding at $1 or $2. A perfect way to get everyone’s hands up in the air and get the room excited!
Golden Ticket? What’s that? There are limited tickets available onsite. Only 100 at $100 each. Right before the live auction starts, the Golden Ticket winner is drawn. They select ANY of the live auction packages as their prize! BAM! That item is removed from the live auction lineup. Fair warning: The live auction must have 2-3 TOP tier packages to entice the purchase of a $100 raffle ticket!
4. Fund-A-Need raises $1000s of dollars in mere minutes and connects the audience to the cause
Impact stories are vital to raising money for a cause. A well-planned Fund-A-Need (or FAN as I lovingly call it) with a compelling call to action motivates donors to immediately raise cumulative donations for a vital program or defined need at your organization.
Fund-A-Need (FAN) is the pinnacle of the event; a “mission moment” that will raise thousands of dollars in just a few minutes. It requires forethought and advanced strategy to achieve success. A purposefully designed Fund-A-Need Appeal inspires untold generosity, drives long-term revenue strategy at your organization and will make your next event a record-breaking night.
Our upcoming masterclass features a Fund-A-Need case study from John Gilbert (Carpenter Hospice). He has seen firsthand how important Fund-A-Need can be to achieving revenue goals and creating memorable event moments. Learn more here.
5. Donor tracking is easier than ever – don’t forget about it!
Digital marketing plays a huge factor in registration and pre-event communication. We know that. But, what so many don’t seem to get is that if done right, it prepares your audiences for giving on the event day.
By using a mobile giving platform for your event, you are being set up for donor tracking success. From registration to post-event mailouts, you have your donors at your fingertips. You know how much they gave on the night and you know where you can change things for future events. You’ll also be able to use the data collected to determine which marketing channels were the most effective for your organization, which will allow you to determine where to focus your time and resources for future events.
No matter what type of fundraising event you’re planning on running don’t miss out on our Making the Impossible Possible Fundraising Masterclass. This is the Masterclass where you, an impossible-tackler learn how to make it possible. Because what you do matters.
