But Do You Know Why?
Ok, we know electronic bidding is the fastest growing fundraising auction platform around the globe but do we know what is driving its popularity?
Here are some key findings from a focus group study and research reports, stating key motivations behind why guests enjoy engaging in online electronic silent auctions.
Why online mobile auctions are attractive?
The digital age
Think about these key factors and statistics. With a global shift towards an online life, over 90% penetration rate of the internet, and mobile device penetration rate standing well over 80% in Australia, with predictions it will overtake PC’s in 2014, put simply, it’s part of our lives. Everyone has a mobile device and knows how to use the internet.
You have a generation of experienced bidders in the various online auctions sites, so people already know how to use online auction systems.
Research shows with the Gen X, Gen Y and even late Boomers, there is no real learning necessary.
Research found one motivating factor is guests and charity supporters can integrate electronic silent auction bidding in their lifestyles, at the event, on their own terms, within their own schedule. In addition, they can bid for auction items from the comfort of their seats at the event, even from their bedrooms which from research reveal, guests feel it makes the process much easier.
Much research has been done about the competitive factor driving higher bids, excitement and being the key motivation for guests to engage in electronic bidding for charity silent auctions. Once you have bid for an item on your phone, you are sent instant outbid alerts, which is great for engagement. When you win, you are also instantly messaged. This further drives the competitive nature of guests leveraged through electronic bidding technology.
Involving All Bidders
Research shows some women are not as keen on live auctions, where they are competing in the public eye or even against friends.
However women make up the large majority of bidders on average at fundraising auctions, so you would be missing out on potential major contributors.
A focus group report found women prefer silent auctions because it cuts out this barrier, and electronic online bidding allows them to still compete without direct conflict.
This brings all the above factors together. You know how to use your mobile for fundraising auctions, its right in your hand so it’s convenient; it drives your competitive nature by constant alerts. You can avoid competing in the public directly or against friends.
So What Impact Does This Have On Fundraising?
You have guests engaged with a streamlined electronic bidding system that allows multiple bidders engrossed at the event, as well as from multiple locations, increasing efficiency and ultimately generating more funds raised.
From a strategic planning perspective, you see all the data about what items are selling well and to who during the auction in real time, as well as after, where you can see patterns in bidder behavior, can adjust appropriately, and most importantly for selection of items for future fundraising events.
It’s a hassle free option with low investment and proven high returns.