3 Tips for Holding a Successful Online Auction

By CIO Applications| Monday, November 25, 2019

Online AuctionPlanning ahead for an online bidding extravaganza? Here is everything that auction planners should know.

FREMONT, CA: While traditional auctions have been around for quite some time, online auction is taking over and becoming more popular. Online auctions have picked up and grown in the thriving digital world. To maximize the benefits of using an online auction—where perks range from extended auction duration to a wider bidding audience— firms need to develop a careful strategy that best suits their needs. Here are some tips for auction pros for taking bid online.

Knowing the Audience

To best determine which type of auction to use for a particular event, auction pros should analyze their guests and take careful consideration of the crowd's size. Organizers should also keep in mind how tech-savvy the clients are, and they should employ staffers accordingly. When there are plenty of trained volunteers around, clients will be happy with using an online bidding platform.

Expanding the Auction’s Reach

The majority of auction pros agree that one of the significant perks of an online platform is a sense of competition among bidders. Using an online platform allows firms to tap into a global network of supporters, extending the fundraising base far beyond the audience in the room at an event. Through social media, digital marketing, and other PR efforts, bidding planners must increase their event’s reach to a wider net of participants.

Engaging Bidders with Rare Offerings and Experiences

It is crucial to develop an engagement plan that keeps the audience interested in bidding online. With both collectables and experiences, items that are easily found online or in stores do not create the wow element that a bidder is seeking. It should be strategized in a way that everyone participating in the bid should be able to bid something. Strong visuals are also an essential part of the auction, so auction planners can use high-resolution images and descriptions that tell the story of each item.