Event Planning - Fundraising Events

Sean Spence
Nov 21, 2024
4 min read

When organizing events, fundraising can be a part of the plan. While individuals may overcomplicate the process, fundraising is straightforward: ask people for money and collect it.

However, in reality, individuals collect funds during events using a diverse range of methods. These methods essentially provide individuals with a reason to donate and make them feel like they are getting something concrete in exchange for their donation.

Below are a few of the typical methods individuals have discovered for fundraising during events:

Silent Auction

Some may argue that the silent auction is excessively used, however, it remains a reliable method for fundraising. Prior to opting for a silent auction, ensure that you can gather a substantial amount of auction items that would appeal to potential buyers. Generally, it is advisable not to proceed with a silent auction unless you can secure a minimum of 20 appealing items (and perhaps a few less desirable ones).

One suggestion is to consolidate multiple smaller items into a single package to make it more appealing to potential buyers.

Live Auction

During a live auction, it is common to have a professional auctioneer present. While this can be enjoyable, having a suitable local celebrity or VIP can enhance the experience even further. The key is to establish a connection with the audience. It is important for individuals to feel involved in the process, and any efforts to strengthen this connection are beneficial.

When it comes to live auctions, it is crucial to focus on attracting individuals who are likely to bid significantly and regularly. Having just two to four enthusiastic participants can inspire the rest of the audience and create a livelier atmosphere.

One essential element for a successful live auction is to feature eye-catching items that will attract high bids. Items that do not meet this criterion can be reserved for a silent auction instead.

Up-sell

Events provide multiple opportunities to boost sales for the cause. You could explore options such as having individuals sell flowers at the tables, serving premium champagne or luxurious after-dinner chocolates, and setting up a booth with t-shirts or other memorabilia.

Fundraising Technology

Just like in almost every part of human life, technology can have an impact on event fundraising.

Registration/Selling Tickets

Online event registration options range from basic services like PayPal, which offer payment functionality without additional event support, to comprehensive platforms like Eventbrite or EverEventGives, which cover all aspects of event registration, payment, online promotion, and organization.

Online Auction

Establishing an online auction can serve as an effective method to engage individuals unable to attend in person but still eager to contribute. Moreover, it can be a strategic approach to initiate bidding on items well before the actual event commences.

Tickets

Many believe that making decisions about tickets is simple, but in reality, it is more complex than commonly understood. The majority tend to make mistakes early on, which ultimately hinders their chances of success even before invitations are issued.

Leveling ticket prices

One common mistake made by event planners and fundraisers, including those with years of experience, is only setting a single ticket price for an event. This choice often results in missing out on potential revenue amounting to hundreds or thousands of dollars, which could have been easily obtained without any additional effort or expense.

It is universally acknowledged that when presented with various payment options, a significant number of individuals will opt to pay either less or more. Often, there is no need to provide additional benefits in exchange for a higher ticket price, although it can be justified in certain cases, particularly for tickets priced in the hundreds or thousands of dollars.

When organizing an event, consider offering three to four ticket price tiers (even five tiers can be acceptable). Start by setting the lowest price at the highest amount you believe is feasible to obtain (avoid setting it at $25 if you think $50 is achievable; likewise, avoid setting it at $50 if you believe $100 is attainable). Subsequently, establish incremental price levels upwards from the initial minimum price. For the highest ticket tier, aim for the highest feasible amount; generally, consider an amount that approximately 20% of your target audience could afford.

Assign names to the ticket levels that reflect their increasing value. For instance, you could use designations like guest, friend, sponsor, patron; or opt for categories such as bronze, silver, gold, and platinum.

Individuals will donate based on their comfort level and in a manner that aligns with their commitment to the cause being supported by the event.

Giving Tickets Away

Occasionally, there may be a need to provide discounted tickets to specific groups such as students, seniors, volunteers from organizations, or selected VIPs. It is important to exercise caution in this practice. It is essential to bear in mind that the primary objective of a fundraising event is to generate funds. The more tickets given away at reduced rates, the lower the overall amount raised. Additionally, it is worth noting that individuals who receive discounts may not necessarily require them. Seniors typically belong to the wealthier demographic; VIPs often have the financial means and should either pay full price or receive complimentary tickets; and consider the amount of money students tend to spend on weekends. In general, barring exceptional circumstances, if someone is genuinely interested in attending an event, they will make the necessary financial arrangements.

Secret to Increasing Ticket Income

When establishing prices, keep in mind that achieving success frequently involves making small adjustments. Instead of opting for a $100 ticket price, consider setting it at $125 - if someone is willing to pay $100, they will likely be willing to pay $125 as well, ultimately resulting in a 25% increase in revenue for you in the long term.

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