Building A Successful Online Auction
There is an increasing number of online auctions available to people both seeking to sell and to buy
. These auctions are tailored to different types of people as these auctions are run in a variety of different ways.
Each auction site has its own rules, specifications for duration of an auction, and shipping regulations. These auctions sites have all been developed due to a variety of difference reasons.
One of these reasons that many auction sites formed is that an online auction is a great way to raise money for a purpose or cause. There are many ways you can maximize your profits through an online auction.
The first thing you should do is advertising your online auction. Different groups of people receive messages in different ways.
For example, the older generations would read the newspapers for news while the younger generations will not touch a newspaper. Instead the younger generations will go online to find out what is going on in the world.
Homemakers may look in magazines and happen to see ads while they are reading an article. However, the father of the home probably will never look at this magazine.
Instead, he will receive exposure to advertisements in the middle of his football game. As a result of all these different methods of receiving this information, it is vitally important that you advertise your online auction in many more places than one so that you reach enough people.
Email, social media, local radio stations, and local TV stations should all be on your list of mediums through which to advertise. Posters in schools or churches may also be effective.
The point of advertising is to reach as many people who may be interested in the auction as possible. When you are striving to raise funds, you need it to be successful.
It is likely that there will fees associated with your advertising. Instead of taking away from the money you earn through the fundraiser, you will want to ask local businesses if they are willing to sponsor your effort.
In exchange, you can offer to advertise for them on your website and in your emails. The funds you receive should be enough to pay for all of your expenses.
The next thing you will need to do is make a list of all of the jobs that need to be done concerning your fundraiser. Ask for volunteers to help you with your effort, but you should select who performs what task carefully.
People are talented at various, specific things. Assign them to the tasks that they are good at.
There should be enough to do that there will be a spot for everyone to help in some way. Only assign people to specific tasks that are qualified to perform the task.
The next thing you should turn your attention to is the written descriptions of each item. The descriptions should be accurate, information, and creative.
The more fun your website is the more often people will want to come back. Make your description interesting and captivating.
Your detailed descriptions should also detail the rules of the auction as well as the terms and conditions. Be sure to review the starting bids as well.
Make sure the starting bids are reasonable for the item. Contrary to initial thought for most people, setting the initial bidding prices higher does not result in more bids and higher final selling prices.
The best starting bid value should be about 1/3 of the actual value of the item. Once you have done all of these things you will be ready to begin your online auction.
As you continue your auction you are going to need to add new items. It is a good idea to save a variety items by not posting them online at the beginning of the auction.
When several other items are sold, stagger the introduction of some of the reserved items. This will encourage people to visit your auction site over and over, which will continue your sales.
As your online auction continues, you will want to continue your marketing efforts. You should also continually advertise for your donors, supporters, members, and other contributors.
Be sure to keep an eye out for things that you would be able to sell at a marketable price in your auction. Ask for donations of various items as well.
You may be surprised how many people are willing to donate to a good cause. By keeping these things in mind, your online auction is destined to find success.
by: Tommy Greene
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