The act of raising funds for a cause has evolved significantly in recent years, with technology playing a crucial role in maximizing participation and donations. One of the biggest game-changers for fundraising organizations, schools, and charities hosting silent auctions is online bidding.
Did you know that digital-first organizations are seeing a 12.7% increase in growth thanks to the revenues generated from online fundraisers?
Organizations no longer need to rely on traditional paper bid sheets or in-person only events. They can now use digital platforms to streamline the auction process, reach a broader audience, and enhance engagement. Consequently, it’s no surprise that organizations see an increase in funds raised!
In this blog, we will explore the many benefits of online bidding and why it is the key to a successful silent auction. We’ll cover how it increases accessibility, enhances competition, simplifies management, and ultimately drives more revenue for fundraisers. If you’re looking to maximize your auction’s success, online bidding is the solution you need.
What is Online Bidding?
Online bidding refers to the process of placing auction bids through a digital platform rather than traditional in-person methods. This approach allows participants to bid on auction items via smartphone, tablet, or computer, eliminating the need for paper bid sheets or live auctioneers.
Online bidding allows auction organizers to list items digitally and set bid increments. They can also enable features such as automatic bidding, real-time notifications, and countdown timers. Therefore, participants can engage in the auction from anywhere, making it easy to monitor and increase their bids as the auction progresses.
Unlike traditional silent auctions, where guests must be physically present to bid, online bidding eliminates geographic limitations, ensuring that more supporters can participate and contribute to the fundraising cause.
The Key Benefits of Online Bidding for Fundraisers
There are many perks that fundraisers gain by adopting a digital-first approach when it comes to silent auctions. Here are 5 key benefits that standout:
1. Increased Participation & Accessibility
One of the most significant advantages of online bidding is the ability to reach a wider audience. Traditional silent auctions require attendees to be physically present, significantly limiting participation to only those who can attend the event.
Online bidding allows supporters with internet access to participate from anywhere in the world. As a result, this increased accessibility means fundraisers can engage more potential bidders, including:
- Remote donors who cannot attend in person.
- Friends and family of the attendees.
- Supporters who prefer the convenience of mobile bidding.
By removing physical and geographical barriers, online bidding expands the pool of potential donors, leading to higher engagement and more bids for your event!
2. Higher Bidding Activity & More Revenue
Online bidding encourages competitive bidding behavior, ultimately driving up final bid prices and increasing revenue for fundraisers. Features such as real-time bid updates, automated bidding, outbid notifications, and countdown timers create a sense of urgency.
This prompts bidders to place higher bids to secure their desired items.
In traditional silent auctions, guests may not always be aware of being outbid, leading to missed opportunities and fewer bidding wars. With online bidding, participants receive instant notifications when they are outbid, encouraging them to act and bid again.
This competitive environment helps maximize the value of auction items and boosts overall fundraising success.
3. Convenient and Mobile-Friendly Experience
With people increasingly using smartphones for daily activities, mobile-friendly online bidding platforms provide a seamless user experience. As of 2024, 98% of Americans own smartphones, facilitating the adoption of digital fundraising strategies.
With a platform like Bid Beacon, participants can browse items, place bids, and receive updates in real time from the palm of their hands.
Online bidding allows users to:
- Bid anytime and anywhere, eliminating the need to hover over paper bid sheets.
- Set maximum bid amounts, letting the system automatically increase their bid up to their set limit.
- Stay informed with optional push notifications and text alerts that guests can opt in and out of quickly.
This level of convenience makes it easier for supporters to stay engaged, even if they are busy or unable to attend an in-person event.
4. Automated & Streamlined Auction Management
Managing a silent auction manually can be time-consuming and prone to errors. Online bidding platforms streamline the entire auction process, reducing administrative burden and ensuring accuracy.
With an online bidding system, organizers can:
- Easily set starting bids and bid increments.
- Automatically track bids and prevent duplicate errors.
- Generate instant winner reports and process payments online through trusted, third-party payment processors.
Automation simplifies auction logistics, allowing organizers to focus more on engaging with their supporters and raising funds rather than managing paperwork.
5. Enhanced Transparency & Trust
Online bidding platforms provide a transparent auction environment where participants can see the latest bids in real time. As well, a countdown timer is always visible, so guests know exactly when the entire auction, or specific items, are closing. Such visibility builds trust among bidders as they can be confident that the auction process is fair and competitive for all.
Additionally, digital platforms like Bid Beacon help organizers access accurate auction data for any reporting needs during or after the event. Through exportable reports that are accessible at any time, admins can view their guest list, items, bidding activity, and more from their dashboard.
How Online Bidding Boosts Fundraising Events
To illustrate the power of online bidding, let’s look at a real-world example. Fundraising events that incorporate online bidding often see an increase in total funds raised compared to traditional silent auctions.
For instance, KMG Events moved away from using physical bid sheets for a golf tournament fundraiser. Using Bid Beacon’s online bidding platform, KMG Events reported a huge turnout of golfers participating in the auction. More importantly, most of the funds raised were when participants were on the golf course!
Traditionally, bidding activity would be at its lowest while participants are golfing, but not this time. Kate Gallagher, founder of KMG Events, attributed their success to:
- Higher participation due to remote accessibility.
- Being able to start the silent auction prior to the tournament beginning, significantly increasing bidding activity.
- A more engaging experience that kept bidders actively involved until the auction closed.
Such success stories highlight the importance of integrating online bidding into fundraising strategies.
Best Practices for Maximizing Success with Online Bidding
To get the most out of online bidding, consider these best practices:
- Choose the Right Platform – Select an online bidding platform like Bid Beacon that offers user-friendly features, mobile compatibility, and secure payment processing options to meet any organization’s needs.
- Set Strategic Starting Bids – Ensure your opening bid amounts are attractive enough to encourage initial participation. A general rule of thumb is to set the starting bid anywhere from 25% to 40% of the item’s market value.
- Promote the Auction Effectively – Use email campaigns, social media, and donor outreach to maximize awareness and engagement. Promote early and often!
- Keep Guests Informed – Using Bid Beacon’s notifications feature, admins can inform guests of any important details in an instant. Popular use cases include promoting a specific item or sending out a final reminder before the auction closes.
- Follow Up with Bidders – Send thank-you messages, share auction results, and maintain donor relationships for future fundraising success. For future silent auctions on Bid Beacon, you can easily reinvite guests from your past auctions.
Why Bid Beacon is the Best Choice for Online Bidding
Now that we’ve explored the benefits of online bidding, the next step is choosing the right platform. Not all online bidding solutions are created equal, and selecting one with the right features can make all the difference. This is where Bid Beacon excels.
Bid Beacon is a leading online bidding platform designed to help organizations run successful silent auctions with ease. To date, over $30 million dollars has been raised through online auctions on Bid Beacon.
With a user-friendly interface, mobile compatibility, and powerful automation features, Bid Beacon simplifies auction management while maximizing fundraising potential.
Key features of Bid Beacon include:
- Mobile Bidding: Supporters can place bids from any device.
- Real-Time Notifications: Bidders stay updated instantly throughout the event.
- Secure Payments: Easy and secure checkout for winners.
- Automated Bid Tracking: Eliminates manual errors and simplifies reporting for auction administrators.
- Risk-Free Consignment Items: In collaboration with Risk Free Item Shop, add high-value vacation packages, jewelry, tours and experiences to any auction. Best of all, there’s no upfront cost to your organization!
Integrating Additional Fundraising Tools
To further enhance fundraising efforts, integrating platforms like CommuniBee Suite and Raffle Rocket with your online bidding strategy can provide a comprehensive approach to community engagement and revenue generation.
CommuniBee Suite
Our flagship product, CommuniBee Suite, is an all-in-one fundraising and community engagement platform. It helps organizations coordinate fundraising campaigns, sell event tickets and merchandise, support sponsors, manage members, and oversee all fundraising activities—all within a secure, cloud-based application.
Raffle Rocket
Raffle Rocket is designed to help organizations run successful, cost-effective raffles with ease. Supporting 50/50 draws, cash and non-cash prizes, and early bird draws, Raffle Rocket provides a seamless experience while offering significant savings over other platforms—so more of the funds you raise go directly to your cause.
Getting Started Is Easy!
Online bidding is transforming the way fundraisers host silent auctions, offering greater accessibility, increased revenue potential, and a seamless user experience. By embracing digital solutions like Bid Beacon, organizations can enhance bidder participation, simplify auction management, and ultimately raise more funds for their cause.
If you’re planning a silent auction, now is the time to leverage online bidding. Start your journey with Bid Beacon and experience the future of fundraising. Sign up today!
