Moving to online software with mobile device users has not only offered convenience and a much wider network of people, but it has also offered a wealth of data. Information on users, products, and much much more is at the tips of the software customer’s fingers—but it is often ignored. With online auction software, even just one fundraiser can provide beneficial, if not vital, data that you can use to plan your future events. What data is this, and how do you use it?
Since bidders are registering on their own mobile devices in order to view items and make bids, software can track their demographics. This means you can find out how many participants you have total, when they joined, where they’re from, and even other details such as ages or male to female ratios. Depending on the software, these details can cover a variety of demographic information that is ultimately helpful for you to predict how many participants (or what type of participants, like an older age group) to expect next time. It can also help you set goals for increasing bidders or drawing in bidders with certain demographics, like more dads in a school auction.
Staff and Volunteers
Online auction software can help you manage staff and volunteer workflows. If you want to keep better track of volunteer numbers, or schedule staff more equally, or just delegate tasks more evenly, you can consult the data to build an even stronger, more productive team when the next fundraiser comes around. Online auction software keeps everyone on the same page, and the ability to look at the data of how everything is getting done can help you improve both your current and future auction events.
Perhaps one of the best features of auction software data is analyzing your auction item inventory and how those items sold. If certain items sold more than others, whether based on starting price range or popularity of items, like baskets or tickets to fun events, you can decide on what items to invest in more in the future. In this way, you can track trends and also be on top of how much money the auction raised. If you’re integrating a live auction with your online one, consider how you can track the live auction data to assist you with your online auction, too.
Time and Scheduling
Since you can track bids, you can also track what time of day or what day of the week bidding was at its peak. This can provide insight into when to advertise the items or remind bidders to log on and make their bids. You might even find that, if the number of bidders isn’t what you had hoped for, you can plan the next fundraiser for another week, month, or season that will likely increase participation.
These are just a few ways to utilize the ready-available data that comes with online auction software. Data is used constantly in big and small businesses, so why not use it for fundraising, as well?