Our weekly Wednesday 9am MT/11am ET Clubhouse chats are full of robust conversation about topics within nonprofit fundraising. As always, please feel free to add and reflect on your learnings and experiences! Here’s some key takeaways from our chat about maximizing the benefits of feasibility studies:
1. It’s about more than just a goal – #feasibilitystudies reveal much more about an organization than just a feasible #fundraising goal. Feedback can offer critical insight around an organization’s programming, internal structure, overall vision/values, #leadership, and more.
2. #Data, data, data! A feasibility study is a great time to clean-up (or create) your donor database. No organization is ready to expand without first having a place where they maintain information about those who are interested/invested in their work, already give to similar orgs, participated in conversation with leadership, etc.
3. Follow-up – no matter the outcome of a feasibility study, be sure to keep all participants and invitees in-the-loop. The best way to do this is a 1-2 page #executivesummary listing bullet points of key takeaways and what that means moving forward. Include a #CTA call to action! Don’t let the momentum die out, use this opportunity to continue conversation and cultivation
4. #vernacular – if a client isn’t thrilled about the idea of a “feasibility study”, call it something different—program analysis, organizational assessment, planning period, health check, donor engagement survey, etc.
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