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Tuesday Tips with RiskFree Item Shop

Auctria
October 09, 2023
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Tuesday Tips with RiskFree Item Shop

Auctria

October 09, 2023
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  1. Super-Charge Your
    Auction Fundraiser!
    With Auction Best Practices, AI & Risk-Free Items
    WEBINAR PRESENTED BY
    TRICIA ROSEVEARE
    CEO & CO-FOUNDER OF
    RISKFREEITEMSHOP.COM

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  2. Crafting A Compelling Auction Event: Identify the key buying criteria and best practices in order to source
    the right mix of items and create a compelling experience for your participants
    Mastering Item Selections: Understand the strategy for sourcing items
    Unlocking Risk-Free Items: Learn all about risk-free items, and discover a new way to(instantly) “smart-
    source” vetted, best-selling risk-free items from our shop
    Pricing For Success: Get the scoop on setting starting bids that ensure a profit for you and drive up bidding
    activity
    Thinking Outside The Event: Get ideas on how to fundraise with risk-free items throughout the year
    Q&A
    Super-Charge Your Auction
    In today’s session we will cover:

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  3. Tap into human behavior - get people excited and involved!
    To craft a memorable auction that will generate revenue
    and guarantee your donors will want to return for your
    next event...
    Think of your auction as a party! You want your guests
    to have a fantastic time, to tell their friends all about it -
    and come back next year.
    Crafting A Compelling Auction

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  4. People have a natural desire to compete and win
    How can you craft your
    event to maximize the
    competitive spirit and raise
    more money?
    Crafting A Compelling Auction

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  5. Structure your event to encourage FOMO
    Host your silent and live auction within the span of 1 week
    Offer incentives or “limited” perks to get people registered
    ahead of time and bidding on the silent auction items
    Release new items throughout the week to get people
    coming back and excited!
    Urgency drives interest!
    AUCTION FOMO KILLER:
    Hosting your silent auction for toooooooo long...
    Crafting A Compelling Auction

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  6. Understand the donor mindset.
    Donor Bidding & Buying Criteria:
    (1) Something they would have likely bought anyway
    (2) A once-in-a-lifetime experience or item they’d never have
    access to anywhere else
    (3) A good deal with an accessible starting bid
    Include a mix of items that speak to the “buying criteria” will generate more bidding activity, more revenue for
    you, and - more interest in attending your future events.
    Mastering Item Selection

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  7. Donated Items: Risk-Free Items:
    Something they would be
    likely to purchase anyway
    A 
    once-in-a-lifetime
    experience or specialty item
    A good deal
    Rare
    Unique
    One-of-a-kind
    Not sold in stores
    Exclusive
    Source items that match their bidding and buying criteria.
    Mastering Item Selection

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  8. Donated
    Items
    Risk-Free
    Items
    The right ratio of donated and risk-free items will
    ensure higher participant engagement and more
    revenue for your organization.
    Majority Of Your Items
    Some of your items
    A few of your items
    Speciality
    Risk-Free
    Items
    Ensure the right ratio of donated to risk-free items
    Themed auctions
    are the exception to
    the typical “ratio”
    rule for hosting
    auction items.
    Mastering Item Selection

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  9. Determine the number of items you will need
    Feature 8-12 items for a live auction.
    How many items should we feature at our silent auction?
    How many people will attend?
    100
    For events that attract mainly couples (e.g., fundraising galas, charity dinner events, school auctions).
    25 -30 items
    Actual # of people
    bidding
    How many items
    to feature
    Mastering Item Selection

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  10. Get to know your audience
    Mastering Item Selection
    Here is a real-life example of a
    museum that realized that most
    event participants were under 40
    years old, so they ran our Donor
    Intellligence Report to learn more.
    They subsequently added ‘cool’
    domestic travel experiences and
    increased their event revenue by 51%.
    We will learn more about how to
    run a Donor Intelligence Report -
    available in your shop!

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  11. Risk-free items are goods offered by a third party for the
    purpose of helping nonprofits raise money and boost
    engagement at fundraising events.
    The risk-free concept allows nonprofits to source vacations,
    experiences, jewelry, and memorabilia with NO upfront
    payment.
    Unlocking Risk-Free Items
    We find that organizations who utilize
    our risk-free items typically raise 20%
    more revenue at their event.

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  12. Objection: If my donor purchases an expensive
    risk-free item, they won’t provide an additional
    donation to my charity.
    Based on our experience, most households
    have a separate budget for donations and
    another for vacations and purchases, so it
    won’t be cannibalizing their donation budget.
    Unlocking Risk-Free Items
    Primary objection to using risk-free items
    Some organizations like to add a blurb to the item description such as:
    This item is offered by a third party. Our organization will receive a portion of the sale proceeds.

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  13. Offer a wider variety of items at the event
    Get access to luxury, rare, or high-value items
    No upfront payment - only pay if the item sells
    Enhance fundraising potential
    Delight donors with unique offerings
    Save time and resources
    Benefits
    Unlocking Risk-Free Items
    Benefits of risk-free items

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  14. It can be challenging to know what provider to
    trust:
    Quality items
    Customer service (for you and your winners)
    Favorable pricing structure
    It can be frustrating to call a risk-free provider
    and risk getting up-sold on packages
    Potential Challenges
    Potential challenges with using risk-free items
    Unlocking Risk-Free Items
    We designed our item shop to
    maximize the benefits of risk-free and
    eliminate the potential challenges.

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  15. Give you a tour of the shop - how
    it works
    Provide some guidelines for
    selecting items
    Show how to get additional donor
    insights to help further guide your
    selection - free AI-generated,
    Donor Intelligence Report
    Unlocking Risk-Free Items
    Let’s visit your new risk-free item shop!

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  16. In the case of a donated item, pricing too low will diminish the
    perceived value at your auction, and impact your ability to
    maximize the item's potential to raise money
    Whether your item is donated to you or it is a consignment, risk-
    free item, it is important to manage the perceived value of the
    item.
    Why?
    People who donate an item want you to maximize it’s potential.
    Strategic Pricing For Success
    Perceived Value

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  17. Research the retail value of the donated item (or ask the donatee to provide the value).
    Start the bidding 20% below the retail price of the item.
    Strategic Pricing For Success
    Retail Value: $150
    Starting Bid: $120 (20%
    below retail)
    Bid Increments of $10
    Spa Gift Basket
    Tip: Good to mention the
    brand/business that donated the
    item.
    For donated items

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  18. We recommend that you start the bidding at around 20% +/- above the charity cost.
    Setting a higher price raises the perceived value and increases the interest for the item, and it builds in a profit
    margin for you. A pricing guide is provided in the marketing materials for each item in our shop.
    Strategic Pricing For Success
    For Risk-Free Items
    Charity Cost: $2,595
    Starting Bid: $3,114 (20%
    over)
    Bid Increments of $150
    Fairmont Scottsdale Golf
    For 2
    Charity Cost: $895
    Starting Bid: $1,395
    ($500 over)
    Bid Increments of $100
    Beachfront Mexico Trip

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  19. Ideas to generate revenue throughout the year
    Below are some examples of auctions that nonprofits can host throughout the year. These types of auctions,
    targeted to subgroups in your donor base, lend themselves well to virtual auctions, making them easy and
    inexpensive to host.
    Think Outside The Main Event
    Father’s Day Auction
    (Virtual or in-person)
    Virtual Mother’s Day Themed
    Fundraiser/Mini Auction
    Themed Virtual Auction
    (Major donors)

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  20. Q & A
    Thank You!

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