Guest post by SchoolAuction.net

When it comes to raising money for your group, why settle for just one fundraiser when you can run several at the same time? By planning multiple events at once, you can welcome a larger fundraising impact and make the most of your donor engagement.

Combining different fundraising ideas allows you to tap into the power of giving people more options to support your cause, which not only helps raise more money but also engages several donor interests at once. In this quick guide, we’ll explore concurrent fundraising ideas that can save your organization time and money while maximizing your donor engagement opportunities. Let’s get started!

Live Auction and Raffle

Live auctions and raffles are a winning fundraising combination because live auctions cater to the thrill of bidding while raffles still appeal to those who’d like to win without the high risk. At a live auction, participants are kept on the edge of their seats by an auctioneer’s quick pace of selling prized items. Some supporters thrive in a live auction environment, while others might be intimidated or prefer to watch.

On the other hand, raffles are popular because they’re accessible to everyone. Unlike auctions, where the highest bidder wins, raffles give everyone who buys a ticket an equal chance to win, regardless of how much they can afford to spend. When deciding which item to raffle off, choose an auction item you’d normally sell at a silent auction and see if you can use a raffle to exceed the item’s fair market value.

Here are a few types of raffles organizations can run:

• Standard raffle: Participants buy low-cost tickets for a chance to win a prize, with winners chosen at random from the pool of entries. 

• Golden ticket: This type of raffle offers a limited number of higher-priced tickets for a chance to win a high-value prize, typically the choice of any live auction item.  

• Tricky tray: Also known as a basket raffle, this involves participants buying tickets to place bids on baskets of items or services that are displayed on trays or tables. Each basket has its own mini raffle, with participants placing their tickets in containers next to the baskets they want to win.

Combining live auctions with raffles creates a dynamic fundraising duo that caters to a broad audience, blending the excitement of live bidding wars with the accessible, low-risk appeal of raffles. 

Live Auction and Online Auction

Sometimes a live auction will leave you with more items than you originally planned. That’s okay, in this case, you can use it to your advantage by running an online auction afterward. SchoolAuction.net explains how this works—combine live and online auctions to maximize revenue. First, host an engaging live auction gala. Then once the event is over, host an online auction for the remaining items that were not bid on.

Here are the benefits of combining these two:

• Maximized revenue: Combining the two auction types expands your bidder pool, allowing participants from different locations to bid. More bidders equals more revenue. 

• Less item waste: Items that didn’t sell at your in-person auction now get another chance to be sold during your online auction. Since online auctions allow for a broader audience to view and bid on items, this increases the likelihood of each item being sold.  

• Re-engaging donors: Combining a live auction with an online auction offers a dynamic and flexible participation experience, accommodating those who cannot attend in person but wish to contribute online. This can renew interest among previous donors by providing them with a convenient way to engage.

• No need to plan a separate event: An organization can maximize fundraising efforts with this combination since it removes the need to plan and execute separate events, which reduces both logistical complexities and costs.    

Combining live and online auctions is a strategic and efficient approach to enhance your fundraising. By leveraging both formats, you can capitalize on unsold items and expand the reach to a wider audience, in turn maximizing revenue.    

Silent Auction and Entertainment Night

Planning an entertainment night alongside your silent auction is a great way to keep attendees engaged while they browse items. Silent auctions pair well with planned entertainment to boost funds and liven up the quieter atmosphere. Main entertainment ideas include music, a talent showcase, or a cause-related speaker or presentation.

However, you aren’t limited to solely relying on raising money through the silent auction. With the right software, you can also execute the following:

• Online merchandise stores offer an additional revenue stream by giving supporters an option to purchase branded merchandise at their convenience. Merchandise from online stores also increases your organization’s visibility.

• Text-to-Give allows supporters to contribute instantly with just a few taps on their cell phones. 

• Crowdfunding enables your organization to tap into the power of community fundraising and social sharing, reaching beyond your auction attendees to a wider audience.

By diversifying how funds are raised, nonprofits can capitalize on the enthusiasm of a live event to drive donations, while also capturing additional revenue opportunities from supporters at home. 

Peer-to-Peer Fundraising and Matching Gifts

For nonprofits especially, matching gifts provide a game-changing opportunity to double the impact of donations. You can take advantage of them by partnering with a corporate sponsor or other philanthropic entity to run a matching gift donation challenge. 

Then, you can launch your matching gift challenge with peer-to-peer fundraising to effectively combine the power of a community-driven platform with the financial leverage provided by corporate matching. 360MatchPro explains how you can get started in four steps:

1. Identify potential donors. Start by locating a generous corporate sponsor who will back your cause in exchange for public recognition. Look for a partner with a robust CSR program that shares the same values as your nonprofit.

2. Define the challenge’s terms and match ratio. Set the match ratio to define how much the corporate sponsor will give for every dollar individual donors contribute. For example, a 1:1 match ratio means the sponsor will match donations dollar for dollar, doubling every gift. Then, list out your challenge’s total fundraising goal and time frame.

3. Promote the challenge to your network using a dedicated website landing page. Use SMS messaging, email marketing, and social media outreach to link to your matching gift landing page. By using a multichannel marketing strategy, you’ll reach more donors and get your donations matched more quickly.

4. Track progress toward your fundraising goal. Update your supporters as more matches roll in to encourage them to reach your fundraising goal before the time runs out. You can do this with dedicated tracking tools to monitor real-time progress. 

After your donation challenge comes to a close, don’t forget to follow up with the results and acknowledge the supporters who made it happen. Craft thoughtful emails, hand-written thank you cards, or social media shoutouts to recognize your donors’ generosity. 

Running concurrent fundraisers significantly amplifies a nonprofit’s ability to engage different segments of its audience and maximize revenue. Be sure to assess your audience's preferences beforehand to tailor your fundraising strategy effectively.

The preceding post was provided by a guest author unaffiliated with DonationMatch. The views expressed within do not directly reflect the thoughts or opinions of DonationMatch.