What is an electronic silent auction? Electronic silent auctions are electronic versions of traditional paper-based auction formats. Simply put, an electronic silent auction is where you can bid on items in real-time online or through email.
How does the bidding process works? Bidding Options for electronic silent auctions may be offered by either adding a PayPal button to your item description or using another payment processing service like BidWoo (which we use and recommend).
The service provider will provide instructions on adding their buttons/tracking codes into your digital signage content management system. Typically, this means copying and pasting code provided directly from the vendor’s website into the HTML Editor section of your Digital Signage CMS under “Manage Widgets” within each playlist contains the video with electronic silent auction items.
Many electronic silent auctions have been run successfully using BidWoo’s payment processing service.
- When participants click on “Bid Now,” a PayPal window opens where they can enter the amount of their bid and submit it to you through your electronic bidding system.
- Don’t forget to remind people about all bidding options available when promoting your electronic silent auction!
Electronic silent auctions are becoming increasingly popular. However, the electronic world can be a little tricky to navigate. If you’re thinking about bidding on an electronic auction and don’t know where to start, we’ve got you covered! Let’s discuss 3 things to help prepare for your electronic silent auction: creating a bid, setting up, and knowing what to do once the auction has ended.
Create a Bid: It’s always great to make a bid on electronic auctions. However, there is one thing you need to be careful of your max bidding price! Once the auction has begun, and bidders start dropping out (aka losing), some people will increase their bids up towards or above that maximum amount they’re willing to pay for the product. This can cause issues if other users aren’t prepared for it…
Setting Up: Setting up an electronic silent auction can take time, so planning is important, especially when adding images and descriptions. Make sure you have all materials ready before beginning because this step could add more than 20 minutes to how long it takes you to get everything set up correctly.
Know what to do the Auction Has Ended: The items are put away when the electronic silent auction has ended. This process can take up to half an hour, so bidders will need to be patient with this step for everything to go smoothly.
In conclusion, electronic silent auctions are a great way to raise money for your cause.
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