Silent Auction Strategies - 5 Easy Changes for Higher Revenues
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Sherry Truhlar will share practical “how-to” advice so you can transform your auction items into more money. You’ll learn by looking at real-life auction photos from my successful (and not very successful) auctions, so you know what TO do and NOT to do.
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Silent Auction Strategies - 5 Easy Changes for Higher Revenues
- 1. SILENT AUCTION STRATEGIES Five easy changes for higher revenues Presenter: Sherry Truhlar, CMP, BAS, CAI www.RedAppleAuctions.com
- 3. Good ideas get around Television Print Other • ~50 onsite auctions annually in 12 states • Classes, workshops, products • Frequent speaker
- 5. The big picture Who likes to donate? Which items are best? Item Acquisition How do I ask? Where do I get items? What never sells?
- 6. The big picture Why aren’t they buying? Audience Development Item Acquisition How do we get new people? Will people come? Ticket price? How do I change mindset? Seating charts Sponsorship Underwriting
- 7. The big picture Operations Timeline Technology tools, like e-bidding Audience Development Marketing Registration & Check-out Themes / decor Auction set-up Bid sheet preparation Item Acquisition
- 8. The big picture Audience Development Item Acquisition Operations Timeline Technology tools, like e-bidding Marketing Registration & Check-out Themes / decor Auction set-up Bid sheet preparation
- 9. Your mindset? Your gala should be run like a business. And your silent auction is a boutique. Please treat it like one.
- 10. Is this your mindset? ======== “Everything we spend takes away from our bottom line.” ======== This isn’t a business mentality. It’s not even accurate. Businesses invest for payoffs later.
- 11. She treated it like a business... Hear her story under the “Free Resources” tab at www.RedAppleAuctions.com
- 12. She treated it like a business... Listen to them at www.RedAppleAuctions.com/robin/
- 13. Change #1: Sound system (with a wireless microphone) Let’s think like a business... Do stores use sound? ... They do at my supermarket.
- 14. Hotel ceiling sound systems are NOT designed for auctions. www.RedAppleAuctions.com
- 15.
- 22. Change #2: The right lighting Let’s think like a business... Do stores use dim lighting or bright?
- 25. Silent auctions ... from George Washington’s era. www.RedAppleAuctions.com
- 32. Change #3: Adequate space Let’s think like a business... • Cheap items = casual displays • Pricey items = nice displays
- 33. 5 for $20
- 34. 5 for $20 3 for $45
- 35. Does this scream “cheap” or “expensive?” www.RedAppleAuctions.com
- 41. Change #4: Props Let’s think like a business... Guests should be able to experience the item. Entice them to buy.
- 49. Change #5: Guaranteed Bid Let’s think like a business... Let’s make it easy for guests to spend money.
- 50. What is Guaranteed Purchase? An opportunity to buy an item outright.
- 51. www.RedAppleAuctions.com How to implement? The rule of thumb is 150% to 200% of value. But it varies by your program’s timeline, item number and quality, etc. It could be 80% of value ... or 500% of value.
- 52. Why use it? 1. It attracts bidders through psychology 2. Guys like it. 3. It makes it easier for your check-out team www.RedAppleAuctions.com
- 53. Why use it? 1. It attracts bidders through psychology 2. Guys like it. 3. It makes it easier for your check-out team Let me tell you a story about that jewelry tree. www.RedAppleAuctions.com
- 54. Why use it? 1. It attracts bidders through psychology 2. Guys like it. 3. It makes it easier for your check-out team www.RedAppleAuctions.com www.RedAppleAuctions.com
- 55. We covered these ... 1. Sound 2. Lighting 3. Spacing 4. Props 5. Guaranteed Purchase
- 56. The complete silent auction resource Get it at: http://bit.ly/AuctionWebinars Or at this long link: www.RedAppleAuctions.com/benefit-auction-consulting-and-training/auction-summer-school/
- 57. What about items? Any procurement help?
- 58. Free procurement help Grab yours at www.RedAppleAuctions.com
- 59. Where to find me? I work auctions all over the USA, and you can find me online here: www.RedAppleAuctions.com www.Pinterest/SherryTruhlar www.Facebook.com/RedAppleAuctions www.LinkedIn.com/in/SherryTruhlar www.Twitter.com/AuctionExpert Sherry Truhlar, CMP, BAS, CAI