Big, splashy events can be a fun way to bring in money and raise awareness and excitement about charities and non-profits, but fundraising is a year-round challenge. Having an annual fundraising plan ensures that organizations have the necessary funds for not only major capital projects but also for small, everyday expenses.
Quarterly mini online auctions are a great way to keep your organization front-of-mind with donors while also bringing in the money you need not only to survive, but also to thrive.
Key Takeaways
- An annual fundraising plan provides consistent revenue and avoids donor fatigue.
- Quarterly mini auctions keep donors engaged year-round.
- Smaller auctions allow flexible participation for donors at different giving levels.
- Regular auctions provide steady income, not just one big fundraising push.
- They offer trial-and-error opportunities to test which items drive bids.
- Hosting auctions online increases participation, competitiveness, and ease of management.
- Success tips: Run auctions 7–10 days, promote early/often, offer varied items, and make payment simple.
What Is An Annual Fundraising Plan?
An annual fundraising plan provides an organization with a detailed roadmap of all its money-raising activities throughout the year. It enables organizations to maintain a steady stream of funds while distributing their fundraising activities over a longer period, ensuring they don’t overextend donors.
Why Quarterly Mini Auctions Benefit Your Annual Fundraising Plan
Silent auctions are a great way to raise money for non-profits and charities, and with the rise of mobile and online bidding, they can be hosted independently or as part of a larger fundraising event. While a large-scale online silent auction with rare, expensive items can be the centerpiece of your annual fundraising plans, smaller silent auctions that are held every 3 months or so should also be a part of your fundraising campaign planning.
Why? There are a few key reasons:
- Donor flexibility: Quarterly silent auctions keep donors engaged with your work year-round, but they also allow people who may not be able to spend big at a one-off auction the ability to contribute by bidding on items at smaller online silent auctions.
- Consistent revenue: Holding regular auctions throughout the year means you’re getting consistent injections of funds, not just relying on one big event. This is important for any annual fundraising plan, as it provides a steady stream of income to cover recurring expenses.
- Trial and error: What sort of items will drive bidders to spend? If you’re relying on the revenue brought in from silent auctions for your annual fundraising plan, you need to know what items get people excited. Hosting quarterly mini-auctions allows you to see what works and adapt on the fly.
Why Host Quarterly Mini Auctions Online?
If you’re considering hosting quarterly mini-auctions as part of your annual fundraising plan, hosting them online is the clear way to go. While traditional paper bid sheets still have their place and can be fun, they generally need to be held as part of an event where people can attend in person.
Getting donors together 4 times a year is a lot to ask for any non-profit or charity. Hosting online with Bid Beacon makes it considerably easier to hold quarterly mini-auctions that still engage with the people who can drive your fundraising goals.
Mobile bidding allows for:
- Increased participation: Participants can log into your Bid Beacon auction site to browse items and place bids from anywhere. They can participate from any device, such as a desktop, laptop, tablet, and even from their phone.
- Higher bidding: Built-in features like countdown timers, notifications when you’ve been outbid, and automatic bidding drive competitiveness and make it easy to participate.
- Streamlined management: For your organization, mini online auctions can be considerably easier to manage. You can set up minimum starting bids, bid increments and instantly process payments when winners have been determined.
Bid Beacon’s online platform makes it easy to promote your online auction and raise awareness through email and social media, too. This allows donors to get notified that there’s another silent auction for them to participate in, so that they can help your organization reach the goals of its annual fundraising plan.
How to Successfully Run Quarterly Mini Auctions That Align With Your Annual Fundraising Plan
Running silent auctions at regular intervals throughout the year can be a great way for your organization to meet and surpass the goals set out in its annual fundraising plan. At Bid Beacon, we’ve helped organizations sell over 150,000 items and raise more than $32 million, and have learned a few helpful tricks along the way.
- Choosing duration: Your online silent auction should run for 7 to 10 days, allowing bidders the opportunity to increase their bids and potentially create bidding wars.
- Promote early and often: It’s essential to inform your donors about the upcoming quarterly mini auction. Use all the tools at your disposal to promote your events.
- Variety of items: Think hard about your audience and what sort of items will drive them to bid. Having items that come from a variety of price ranges will encourage a more diverse range of bidders.
- Make payment easy: Bid Beacon’s platform streamlines bidding and payment collection, so you won’t have to chase down winners to get them to pay when they win an item. It makes it easier for bidders, too.
Invigorate Your Annual Fundraising Plan with Bid Beacon
Your fundraising plan is one of the most important documents a non-profit or charity has. A fundraising plan allows you to highlight opportunities for bringing in revenue while ensuring you have a steady stream of money coming in to cover all your expenses.
Quarterly mini-auctions are a great way to engage with donors and keep the funds coming in, and Bid Beacon’s dynamic online platform makes it easier than ever to host.
Start raising more by contacting us online today.
FAQ
How can I invite guests to my silent auction?
Bid Beacon allows you to import a list of your supporters so that you can e-mail them, but you can also share a link through e-mail or social media posts or set up QR codes on marketing materials, among other options. The more people know about your auction, the better, and Bid Beacon will help you reach as many people as possible.
Who can join my silent auction?
This is entirely up to you. If you share your link on social media, anyone who clicks on it will be able to join. Sharing it only with invited guests will limit who can participate.
