Streamloots Auctions are now available to everyone!
Streamloots Auctions are a brand new feature from Streamloots which allows any streamer to create an Auction in their stream, where their viewers are able to bid for a specific item, action or any other thing defined by the streamer. In the Auctions, only one top bidder will win the reward when the end date of the Auction is reached, which can create unique moments where viewers try to outbid each other and see their support and dedication rewarded with exclusive items or interactions.
In this guide, you’ll learn all steps you need to create your first auction, navigate the platform, receive your revenue, and some important tips and ideas to make sure it creates an unforgettable experience for your viewers.
Before You Start…
The key to running an amazing auction with a lot of community participation is to match a valuable and desirable reward with your audience’s motivation. So, before you create your auction, think about what a perfect prize would be and how it can make your viewers feel special. We recommend you decide on a reward as the first step.
For different Auction rewards, think of costs associated with sending the reward to the buyer, like shipping costs or item price, and you can take them into account in the initial bid amount.
When you run an Auction, the Streamloots platform fee is only 4% for partners and 8% for other users. This gives you a much higher revenue percentage than any creator support platform – take it into account when considering the format of the Auction you’ll run.
Think of what would make a perfect Auction winner and reward. Need help or inspiration? We made a blog post with ideas from streamers running incredible Auctions. Check it out below!
How to Setup Your Auction
Since their public release, you might notice that the new Streamloots Auction feature has appeared on your Dashboard sidebar. To create an Auction, let’s start there.
Streamloots.com > Click on Your Profile Image > Creator Dashboard > Auctions (left sidebar)
Step 1: Create New Auction
On the new menu, click on the + New Auction button to get started.
Step 2: Complete The Auction Details
You’ll be prompted to fill in the requested fields to set up your Auction on this page. Here’s a breakdown of what you’ll need:
- Auction Title: This is the title that will be displayed for your viewers. It’s recommended you mention what the Auction Reward will be.
- Starting Price: This will be the starting bid for your Auction, upon which your viewers can make incremental bids. The minimum starting price is $10 or 10€, depending on the currency setup for your account.
- Language: Choose the language in which the Auction will be displayed. Current options are English and Spanish.
- Description: Write one or two short sentences that describe what’s auctioned and any special settings of the Auction. For example: “Win the Auction to receive an exclusive stream anniversary t-shirt!”
- Start/End Date+Time: Set the time in which your Auction will be active. This is the time in which your viewers are allowed to bid for the Auctioned item. The start date needs to be at least 10 minutes after the setup date, and the maximum end date should be within 7 days from the start date.
- Auction Image: You’re able to upload an image or gif that will illustrate your auction. It is recommended you show the Auction reward here for making it more exciting for your viewers.
- Sound For The Bid: Choose the sound that plays on your stream when someone makes a bid. Default bid sound simulates a hammer sound, but you’re able to upload a custom one.
After you fill in the details, click Save Changes
Step 3: Add The Auction Widget
The Auction Widget allows you to display a dynamic countdown that shows on your stream the time left on your auction and the current top bidder and the respective bid amount. Copy the unique widget link and add it to your broadcasting software like OBS as a browser source.
Step 4: Promote The Auction To Your Viewers
The Streamloots Auction platform also generates an Auction Public Link. With this, your viewers can access your Auction details easily and directly make their bids.
Use this link to post on your socials, on your channels, and use it on your chatbots with an !auction command so that it’s always readily accessible to your viewers.
Make Your First Auction In Style With A Free Auction Design Pack!
To help you focus on managing your first Auction and make it more special, we have created a free design pack with graphical assets that you can use to host and promote the auction, including overlays, banners, and social media templates. Click below to download.
After the Auction Ends
Once your Auction ends and your top bidder has been set, the only thing left to do is contact the winner, receive the bid amount and send the reward. Once the auction is finished, you will check the winner’s details from the auction panel. You will have access to their personal data and email to complete the transaction. The winner will then have 7 days to complete the payment, which is done through the platform.
Do you need help regarding payment from Streamloots Auctions? Check our F.A.Q. below.
Running Your Auctions? Share With Us!
There are multiple ways in which you can run successful Streamloots Auctions, and we want to know your ideas! What plans do you have for your first auction? How do you think streamers should manage it? Please share your tips with our community on Discord! We’ll feature the best ideas in future blog posts to promote your stream and how you’re using Streamloots to grow.