You have likely considered kicking off a major gifts or capital campaign with a feasibility study to examine the factors that could contribute to your campaign’s success or failure, such as leadership, target audience, brand impact, and costs. Some nonprofit leaders do not believe in the value of feasibility studies. James LaRose, founder of the National Development Institute, claims, “the studies… are outmoded and a colossal waste of money.”
In contrast, however, we at The Killoe Group consider feasibility studies to be capital campaigns’ best friends – and incredibly valuable investments.
While LaRose asserts feasibility studies are not worth the time, effort, and money required, these studies have a number of benefits. For example, a feasibility study enables you and your team to analyze your target audience and cultivate a deeper understanding of donor demographics. This information will enable you to more accurately and successfully target your supporters. Other benefits include identifying organizational strengths and weaknesses and creating buzz about your campaign.