No arithmetic needed: the world of nonprofit fundraising has always been a veritable equation of heart, effort, and passion. Master the math of fundraising and you’ll discover that the numbers can add up to a whole lot more than just simple sums. One of the most exciting ways to boost your fundraising is by selling multiples—selling one item to multiple interested bidders in a live or silent auction. For this guide, we're going to explore selling multiples of a risk-free, premier consignment travel package as they are designed for exactly that. Imagine a world where your donors can escape the grind and enjoy a well-deserved getaway while contributing to your cause. Now that would mean a world of difference.
Let’s unpack how to leverage these enticing travel experiences for maximum impact in order to ensure that your fundraising equation will be greater than the sum of its parts.
When forward-thinking fundraisers decide to multiply their efforts, it’s not just about selling one travel package. Selling multiples of a consignment travel package can exponentially increase your revenue if you choose the right package for your donor base. Why settle for just one happy donor when you can have any number of supporters enjoying that same dream vacation? Picture it: a room filled with enthusiastic bidders, each one wanting a piece of paradise and your organization ready and able to provide.
Before the event, you'll want to divide and conquer. A little calculus of collaboration between your team can pave the way to multiplying interest and it all starts with setting your equation and adding to the hype.
Creating an irresistible consignment travel package starts with the right equation:
Destination: Choose a fabulous, unique location that has global appeal for a general donor base or has niche appeal for your specific supporters. Like Pi, the possibilities are endless when it comes to AP's world-class experiences.
Duration: Determine the length of the trip; 3 to 7 nights is ideal. Not too long, not too short—think of the Goldilocks principle.
Details: Involve additional perks like meals, excursions, or first-class air travel if at all possible. The more you offer, the bigger the draw!
Like any good product, your consignment travel package needs to generate buzz leading up to the event. One way to do this is through promotional math—drum up excitement on social media plus newsletters by showcasing exclusive sneak peeks. Auction Packages provides Promotional Materials for exactly this reason! Promotional Materials are a full suite of professional media marketing for every package you reserve including 4K video, printable posters, social media, and more.
However, it's important to note that while promoting your packages, we strongly advise that you do not advertise that you will be selling multiples. If donors know there are two available, there is no incentive for them to be the top bidder and their second place bid might be significantly lower. Additionally, we do not advise opening your auction with an item you intend to sell multiple times as you will lose the trust of the audience and subsequent items will be met with lower bids overall by bidders hoping to have their lower price win or be matched.
Selling multiples during a live auction requires an auctioneer well-versed in reading the room, engaging in energy, and thinking on their feet.
Time for a textbook example of how an experienced auctioneer equals the total package for your event.
Problem: Greg is auctioning off a Mexico Caribbean Resort Collection travel package at his live auction. The bidding reaches $3,000 and it's come down to two bidders battling it out. Bidder A is willing to go to $3,500 but Bidder B indicates they’re about to drop out. Greg realizes that his organization is about to lose out on the $3,000 donation that Bidder B was willing to pay for the trip. What should Greg do?
Solution: Greg can authorize the auctioneer to sell the travel package multiple times! Rather than having a single winner and netting just one $3,500 bid, the nonprofit can have two winners and rake in either $6,500 or $6,000 depending on the auctioneer's preferred strategy for selling multiples.
But what are these preferred strategies? Generally, there are two approaches that professional auctioneers find success with:
During the auction, the auctioneer will encourage increased bidding for consignment travel packages and will announce the winning bid. Following this, they may present an opportunity to lower the price to match what the second-highest bidder was willing to pay, but only if the second bidder agrees to buy the package as well.
If the energy of the room is right, the auctioneer may attempt to persuade the second highest bidder to match the top bid. With the cheers of the crowd behind them, the second-highest bidder may feel more moved to agree—especially if the auctioneer points out that it will double the donation to their organization.
If you're holding a silent auction, there's a way to sell multiples that you're likely already using: The Buy-it-Now option on your silent auction bid sheets. The Buy-it-Now allows multiple donors to bid on the same item, which is perfect when you're offering consignment travel packages.
Ask your Auction Packages Fundraising Specialist to suggest a Buy-it-Now price for any package you intend to sell multiples of and they can help you account for the bid differentiation between live auction atmospheres and silent auction strategies.
As your event unfolds, be sure to keep track of all attendees who show interest in the highlighted trips and motivate your auction monitors to do the same. After the event concludes, follow up with those guests to extend the opportunity to purchase the trip at the final bid amount. It's possible that some bidders who withdrew during the competitive bidding may reconsider or seize a second chance to acquire the trip if it is presented to them once more.
By now, you’re well aware that the potential benefits of selling multiple consignment travel packages at nonprofit fundraisers are vast and varied. The strategy of creating a buzz, engaging your bidders, presenting persuasive pricing, and intertwining fun and impact can yield exponential results. So go ahead—multiply your efforts, incorporate all the adjectives and puns you can muster, and watch your revenue reach new heights.
A well-planned fundraiser is more than just a numbers game but hopefully, this guide on selling multiples will add up to something more for you and your cause.