If you have a large project to fundraise for, you may be inclined to rush straight into trying to raise the money. However, this is not always the best approach. Taking the time undertake research in the form of a Feasibility Study first often leads to a more successful Capital Campaigns or Major Gifts Campaigns.
Here is what Dr. Mark Merry from Yarra Valley Grammar had to say about the Feasibility Study process in their fundraising success.
“As we commence our fundraising efforts it is important for us to understand our community’s inclination and capacity to contribute. The feasibility study conducted by OKP provided us with great insights into the philanthropic profile of our community. It exploded a few myths and preconceived notions about who might or might not be involved and it provided us with a starting point from which to begin a sustainable fundraising campaign.”
Aspects of your campaign that a feasibility study can investigate include:
- How your organisation is perceived
- Perceptions of your fundraising target
- How willing and able your supporters are to donate to the appeal or participate in the fundraising process
- Which external funding sources it would be beneficial to pursue
- The needs, motivations and interests of prospective supporters.
- The ways donors are likely to prefer to give to the campaign. Eg. General donations, dedicated donations, pledges, bequests, grants
- How ready your organization is to start a major fundraising initiative
- What competitive and economic circumstances might impact on your fundraising plans.
Armed with the insights a Feasibility Study provides, you can proceed with confidence knowing that your strategies are sound and your goal is in reach.
Has your organisation laid the foundations for a successful campaign?
With over 25 years of conducting Feasibility Studies, O’Keefe & Partners is well placed with a solid combination of experience and current data on the sector that is produced annually through Giving Trends to partner with your company to deliver timely, cost efficient and effective fundraising and marketing plans. To discuss how a Feasibility Study might be beneficial for your organisation, call us on 1300 721 799. You can also find out more about what we do in the Capital Campaigns Industry Insight.