Introduction: Feasibility studies have long been a cornerstone of major fundraising campaigns, offering insights into potential donor support and providing a roadmap for success. But as times change, so do the tools and methods we rely on. This raises an important question: have feasibility studies outlived their usefulness?
The Case for Feasibility Studies: Traditionally, a feasibility study, conducted by an outside consultant, has been seen as a way to gauge the likelihood of a campaign’s success before fully committing to it. These studies typically involve confidential interviews with key prospects to assess their willingness to support a campaign and to identify any potential obstacles.
Proponents argue that despite their cost, feasibility studies can save organizations from launching campaigns doomed to fail. They provide a reality check, revealing how donors truly perceive the organization and its proposed initiatives. As Robert Stuber, an experienced fundraiser, pointed out, “Feasibility studies are cheaper than launching a campaign that is doomed!”
The Growing Criticism: However, not everyone is convinced that feasibility studies are still effective. Critics argue that these studies have become formulaic, predictable, and, in some cases, even disingenuous. Some donors feel they are being used as a “trick” to gain access to their wallets under the guise of research. Moreover, there’s a growing sentiment that feasibility studies no longer reveal anything new—especially in an era where donor fatigue is increasingly prevalent.
A significant concern is the cost. Feasibility studies are expensive, and in an environment where fundraising dollars are tight, many wonder if this investment is worth it. Is it still prudent to conduct a feasibility study when donors are growing weary of them, and the insights they provide are becoming less valuable?
Is There a Better Way? Given these criticisms, it’s worth asking: is there a better way to assess the viability of a campaign without relying on a traditional feasibility study? Some fundraisers suggest experimenting with smaller, more targeted initiatives to gauge donor interest before launching a full-scale campaign. Others recommend using data-driven approaches to understand donor behavior and preferences more accurately.
Conclusion: While feasibility studies have their place, it’s clear that they are not without their drawbacks. The challenge for today’s fundraisers is to determine whether these studies still offer value or if alternative methods could be more effective in today’s fundraising landscape. The debate is far from settled, and as fundraising strategies continue to evolve, so too must our tools and approaches.
