Five Tips for Online Auctions

4. Promotions

Remember that you can never promote your auction enough. The most successful online auctions have a life cycle of three to four weeks, and in that time (and well beforehand) you need to do everything you can to generate buzz about the auction — on your organization’s Web site, on sponsors’ Web sites and through a highly aggressive e-mail campaign.

5. Keep on top of things

Finally, you need to be constantly vigilant of your auction’s progress, especially keeping close watch over items that might need additional buzz. And don’t forget to conduct a review of your auction when it’s all over; a close analysis of your virtual auction’s results will tell you what worked, what didn’t and ways in which you can improve your performance with the next auction.

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