The Economics of Purpose

HOW TO MAINTAIN FUNDRAISING SUCCESS IN SPITE OF THE ECONOMY

There is no more prevalent concern being raised in my consultations than the impact of our current economy on fund raising events…

Well, here’s the good news.   On October 10, hours after the newspapers were describing the stock markets worst decline since Black Monday, Rock the Gavel achieved its clients’ auction revenue goals on the first of two consecutive nights of successes.

How is this possible and what can you do to achieve similar success in spite of the economy?  Here are a few essential tips…

Connect with and communicate your organization’s purpose.
The most important thing to remember at a time like this, is that the people who support your organization do so because they believe in your cause and your approach to service the cause.  When times are tough for most, they are typically tougher for the causes we are supporting.  This is often a call to action for supporters, often in spite of their own personal hardships.  But to ensure this, is to communicate your organization’s needs and re-inspire your supporters by communicating your purpose.  Here are a few ways to do so:

• Clarify your purpose in a single inspiring and telling statement.
• Distribute this purpose statement to all involved in your event planning to convey when procuring, selling ads or sponsorships, inviting friends/family, etc.
• Ensure this purpose is communicated in verbal, written, non-verbal and non-written ways throughout the event (i.e. use of photos, presenters, carefully crafted themes, thoughtfully selected honorees and emcees, etc.)
• Tell your story and the support will follow…

Be an Effective Marketer.
To market effectively means to create your event to cater to the specific interests of the market that you are serving.  This requires thought and planning far in advance of your event, and may require some changes to ‘how things have been done.’  Consider the following:

• Who will be attending the event
• Who is the primary support base of the organization
• What is the economic climate of supporters and attendees
• What are current needs and interests of supporters and attendees
• Factor this information in determining your events theme, location, timing, etc.
• Consider more carefully the items you will be including to cater more precisely to buying interests.  Big spenders will still step up, but they may be more inclined towards items that fit their particular interests and less inclined towards spontaneous, frivolous expenditures.

Bring your ‘A’ Game.
Regardless of the market, non-profit organizations do compete for the hearts and pocket books of their support base.  When times are tough, like everything else, this competitive reality is more noticeable.  So how do you compete? It’s easier than you think, just show your supporters you care…

• Spend money wisely at your events.  This does not mean ‘skimp’, but be cautious not to appear frivolous in your event spending.  In the minds of supporters, frivolous spending at events may translate into frivolous use of their donations.
• Show appreciation.  Greet your guests, pamper your guests, communicate the night’s agenda, be respectful of their time, provide a smooth evening from check-in through check-out, thank them and thank them again.
• Pay attention to details.  There are many small details that add up to success for both silent and live auctions.  Be careful not to miss some of the details.  When times are good and everyone has money to ‘throw around’, it’s easy to take some of the small stuff for granted, but as money tightens up, you cannot risk missing some of the details.  These include bid sheet best practices, description best practices, auction closing best practices, use of proper sound systems, creation of an effective event timeline, etc.

For more information on Charity Auction Best Practices, read previous blog posts, go to the Rock the Gavel website and/or contact us for consultation, services or referral to an auctioneer near you.