With the new era of charities changing their fundraising strategies from live gala’s to virtual events, their fundraising strategies must evolve as well. With small businesses taking the brunt of the financial crisis, it now has become much harder for these businesses to donate items.
However, there are businesses or individuals who never get asked to donate anything simply because they have nothing to give. These businesses are the professionals in your areas such as Real Estate Agents, Accountants, Doctors, Consultants etc. They are never approached and asked unlike the local jewelry store.
We must acknowledge that a charity’s supporters are local people, attending or being a part of a local fundraiser (whether it is live or virtual) with items donated by local businesses.
During a virtual fundraising event, charities have items which have mass appeal while also drawing bids from many bidders across the country. They key to this is simply “Consigned Auction Items” such as 100% authentic autographed items, charity travel packages, décor and jewelry.
A year ago, we started teaching charities across North America about the “Secret” to utilizing consignment items and to remove the associated stigma in reference to the use of donated items versus consignment items. The “Secret” is having the consigned items sponsored. The word quickly spread throughout the industry and other companies began addressing this too. It’s a “Win Win” strategy.
Here are the reasons they are much more successful than donated items and the “Secret” to making them incredibly successful:
#1 – High profile items bring much more attention than “Run of the Mill” donated items. Many more people will be drawn to your Silent or Live Auction because of these high-profile items.
#2 – 90% of supporters can not sponsor at high levels such as $1,000.00 and above. However, they can sponsor for much lower levels which equals to the cost to non profit of the consigned items.
#3 – If an item or items are sponsored and they are consigned, the sponsorship payment is given directly to your charity. We recommend starting the bid or setting the “Reserve Bid” at 20% above the cost to nonprofit. If the item receives a bid and no matter how high it goes, the charity profits 100% since the item is sponsored. However, in reverse, if the same sponsored item or items are sponsored and they do not receive bids, the item either is removed from the online auction or if it is a live event, they are returned to the provider and your charity keeps the sponsorship funds.
#4 – Remember that many businesses sponsor for advertising or marketing which you provide by listing their name and business in the listing.
After you choose the items which you would like to utilize, simply create a catalog to show to potential sponsors. This will open up an entirely new fundraising stream and attract many more sponsors while you are able to provide high profile, eye catching items in your next fundraising live or silent auction.
BW Unlimited Charity Fundraising is a North American charity fundraising leader in a convenient “One Stop Shop” setting. For more information about our auction items or how we can help you exceed your fundraising goals, contact us at www.BWUnlimited.com.