Media Auctions are great nonprofit fundraising events! Magnus Marketing recently helped the Clearfield Revitalization Corporation (CRC) put on their First Annual Promotion and Media Auction for just that reason.
So what exactly is a media auction? We’ll start at the beginning. Area media suppliers including those from radio, newspaper, tv, and web/online donate media packages valued at a specific price the price that the advertising would cost if a customer bought the package) to the nonprofit . The media donator agrees that the nonprofit can auction off the packages and keep all of the proceeds from auction. Community merchants, businesses, and organizations can then purchase the media packages at a bargain price, often significantly below their face value.
Why are media auctions awesome? Let’s look at it from a few different perspectives.
Nonprofit – Media auctions may require a little bit of work when it comes to getting media packages donated (unless you contact magnus!), but some work can bring a large reward. The ultimate goal is to get 50% of the value of the donated media. At the CRC media auction, over $30,000 worth of media was donated.
Media Donator – Price can be intimidating to a lot of new potential buyers. Some assume that the packages your selling cost too much before they even have the numbers. Donating to an auction is a great way for a media company to meet new clients who wouldn’t have taken the chance with their advertising dollars otherwise.
You then get the chance to show them results and turn them into repeat buyers. Media companies that are prime to donate are local tv stations, radio stations, newspapers, digital media, and online advertising. Don’t forget that donating to a non profit is tax deductible!
Media Buyer – This one is probably the easiest to understand; buy advertising at a reduced price! It’s that simple; get a deal on something you’re likely planning on buying anyway. With all of the different types of media being sold at an auction, buyers can get their whole year of advertising at a significantly reduced cost.
Now that you know more about media auctions, we hope you’ll take advantage. Maybe you’ll even put on the nonprofit fundraising event yourself! Don’t forget that you can contact Magnus to do the footwork for you.