The silent auction vs. raffle fundraiser debate is one that many organizations have when figuring out what their best option is for raising money. Both are great options for engaging with your audience, but is one ever better than the other?
That depends on several factors, including the resources available to fund a fundraiser and the target audience you’re looking to engage with. There are numerous opportunities to increase the funds raised by hosting silent auctions and raffle fundraisers simultaneously. These two types of fundraisers work incredibly well together.
Let’s explore the differences between silent auctions and raffle fundraisers, along with some important information you should know.
Types of Raffles
There are three popular types of raffles that fundraisers can host, each with distinct advantages. Selecting the right type of raffle fundraiser can help significantly elevate your efforts to reach your fundraising goals.
- 50/50 Draw: The premise of these popular raffle fundraisers is simple: The winner gets half the total money raised from all tickets purchased, and the organizer will donate the rest to the raffle cause. The more tickets are purchased, the bigger the prize.
- Non-Cash Prize Draw: With Raffle Rocket, you can raffle up to five prizes at a time, with participants buying tickets for the chance to win raffle prizes like exclusive vacation packages or gift baskets.
- Cash Raffle: Instead of giving out half the funds you raise through ticket sales, like a 50/50 draw, a cash raffle fundraiser involves a set amount of money that can be won.
Raffle Items
The types of items you would include in a raffle fundraiser can vary, including everything from airline tickets and hotel stays to gift baskets and local gift cards.
You can find out more about how to do a raffle successfully here.
Advantages of Raffles
- Low cost of entry: One of the great things about raffles is that when the price of a ticket is kept low, everyone can participate. People can buy in bulk to increase their chances of winning, or they can buy one or two tickets and hope for the best.
- Easy to plan: Organizing a raffle with an online platform like Raffle Rocket means setting up your fundraiser is simple. It’s ideal for organizations on tight timelines, or that have limited staff resources to devote to their fundraisers.
- Easy to participate: Raffle participants buy tickets and then check back at the time of draw to see if they won a prize. It’s fun, straightforward, and allows participants to help raise funds without much effort.
- Reach a wide audience: For all the reasons listed above, raffles appeal to just about everyone. They don’t require a big investment in time or money, and the simplicity of online raffles means there are few barriers to entry.
Types of Silent Auctions
There are typically two types of silent auctions:
- In-Person Silent Auctions: Guests must be present at your auction venue for an in-person silent auction. You’ll set up stations showcasing auction items and include a bid sheet where guests write down their names and bids.
- Online Silent Auctions: All bidding is done virtually with online silent auctions. Items will be showcased on a bidding platform, where guests can log in and bid from anywhere in the world.
Silent Auction Items
Some silent auctions are themed and, in this case, contain correlating auction items. However, no matter the theme of your silent auction, certain auction items tend to be more appealing to guests than others, including experience-based items, art and collectibles, luxury items, and trendy tech and gadgets.
Advantages of Silent Auctions
- High-value items bring in high revenue: Having the right items at a silent auction can significantly increase the revenue your fundraiser brings in. High-value or one-of-a-kind items like vacations or experiences will entice higher bids and help your organization meet its fundraising goals.
- Ease of participation with online apps: A silent auction app like Bid Beacon makes everything from registration to payment straightforward for bidders, who can even get real-time updates on how their bids are performing.
- Fun, competitive events: Events like the Ottawa Art Gallery’s auctions have combined mobile bidding with live, in-person events, driving competitive bidding as participants get excited about items they see with their own eyes and then continue bidding throughout the weekend that follows.
Should I Run a Raffle Fundraiser, a Silent Auction, or Both?
When deciding on silent auctions vs. raffles, it’s important to consider the specifics of your fundraiser. Who is your target audience? What are your goals? How many resources do you have to devote to organizing your fundraiser?
When to Run a Raffle
Raffles are an effective way of reaching the widest possible audience. The low cost of entry makes them easy for just about everyone to participate in, and they’re ideal for community events, schools, art shows, and sports games where there might be a big crowd.
Raffles fundraisers are great for when you:
- Have a broad audience: Raffle fundraisers are easy to participate in and don’t often cost much to enter.
- Have limited time or resources to organize your fundraiser: Raffles are easy to organize. Your jurisdiction may require a license, but otherwise, when you use a platform like Raffle Rocket, you can promote your raffle easily through social media or at your event. Then, it’s as simple as selling tickets and drawing a winner.
- Want an additional fundraising element: If you’re hosting a fundraising dinner or silent auction, having a raffle is a great way to add a little excitement and raise more funds. At community events and festivals, the ease of participation makes raffle fundraisers extremely popular.
When to Run a Silent Auction
Silent auctions can require a little more time to organize than raffle fundraisers, as it’s important to have items that participants will want to bid on. They’re an engaging way to bring fun, competitive energy to events like golf tournaments, gala dinners, and annual fundraisers.
Silent auctions are great for when you:
- Have high-value items: Unique, one-of-a-kind items like vacations, memorabilia, or other luxury items can bring in high bids and major revenue at silent auctions.
- Are hosting an in-person or hybrid event: Bidders love to see items with their own two eyes, but a mobile bidding platform like Bid Beacon allows them to get a look at items beforehand. Online silent auctions can extend beyond the end of an in-person event, too, giving participants more time to bid.
- Have an audience with discretionary income: Events attended by professionals or business owners with money to spend on luxury items are a great way to drive fundraising efforts.
When to Run Both
When you’re deciding between silent auction vs. raffle, the great thing is there’s really no reason why you can’t do both at the same time.
For big events, in particular, some attendees may want to spend big and make high bids on silent auction items. Others may be more inclined to buy tickets for a less expensive raffle.
Bid Beacon and Raffle Rocket can be integrated together to make it easy and convenient for participants to place bids and purchase raffle tickets. This makes it effortless to cross promote your fundraiser. If you are looking for even more fundraising integrations, check out CommuniBee Suite to request donations, sell merchandise and event tickets, and more!
Case Study: The Edmonton Riverhawks
Throughout 2024, the Edmonton Riverhawks Baseball Club and the Riverhawks Community Foundation used Bid Beacon, Raffle Rocket, and the CommuniBee Suite to raise $131,006.
How?
- Using Raffle Rocket: The Riverhawks ran 50/50 raffles at each of their 26 home games and wound up raising $121,495, with half of that going to the winners and the other half going to the community foundation and its community partner, the Rotary Club of Edmonton.
- Using Bid Beacon: The Riverhawks Community Foundation hosted three silent auctions throughout the season, each spanning multiple games. All bidding was done online. In total, 39 items were auctioned off, raising an additional $9,451.
- The CommuniBee Suite: As a central hub for fundraising efforts, CommuniBee made it simple for participants to enjoy the silent auctions and raffles while also getting informed about opportunities to participate in future fundraisers.
Silent Auctions & Raffle Fundraisers: A Winning Combo
There are advantages to both silent auctions and raffle fundraisers, and running both can be a great way to meet your organization’s fundraising goals.
Bid Beacon’s dynamic mobile bidding platform makes organizing and running a silent auction straightforward and efficient, while Raffle Rocket provides everything you need to run a smooth and straightforward raffle fundraiser.
If you want your next silent auction or raffle fundraiser to be a success, e-mail us at [email protected] or visit raffle-rocket.com.
