Just as any sound marketing campaign begins with market research, any significant fundraising campaign should begin with a feasibility study. Over the years, the output of these studies has evolved from a simple go/no go assessment for the campaign to a much more comprehensive campaign planning tool.
Specifically, a feasibility study should be a combination of quantitative and qualitative data that provides insights into:
- Overall image of the organization
- Recognition and impression of the key leadership, including the board
- Thoughts on the proposed project, specifically what may be missing, cost and community support
- The giving capacity of interviewees and overall constituency
- Campaign leadership and volunteers
A sound study should not only spot potential red flags, but also provide recommendations on how to address them, where possible. It should deliver a roadmap of the key activities that need to be done prior to a campaign.
Conducting over 90 feasibility studies has provided Amperage with not only experience, but valuable data to use in conjunction with a feasibility study. This data creates a powerful benchmarking tool to assess whether an organization is above or below average by asking questions related to self-reported giving, potential volunteers, and many other factors.
The volume of studies also allows Amperage to perform in-depth analysis of the aggregated data and discern which questions are more indicative of a campaign’s potential for success. Identifying potential trouble spots early allows Amperage to craft creative solutions before you undertake a campaign.
You only get one chance to make a first impression with donors. Bringing in key stakeholders to gather input and shape the project significantly reduces the risk of running into major roadblocks once a campaign is undertaken. Feasibility study interviews also serve as an important cultivation step for donors. Taking this into consideration, the feasibility study is an important first step, and wise investment, for any organization considering an endowment or capital campaign.
