Regardless of your institution's reliance on strategic planning as a regular part of institutional governance and management, your case for support will be far stronger if it is based on a recent and thorough review of direction and priorities.
Additionally, many institutions have a difficult time getting their board members to focus on the need for a campaign, and their respective roles in making it a success. Often, this is because the board is put in a reactive position to the institutional objectives presented rather than having a sense of ownership, as their fundamental role requires.
By engaging your board at the front end of the planning process, and offering members the chance to reiterate their understanding and agreement about the mission, vision, values and the long range goals for your institution, they will become more energized about the need to identify achievable targets in the near term. And when overall funding considerations lead to inevitable discussions of trade-offs and capital campaigns, they will be the ones supporting moving forward.
TW&B often helps institutions with such strategic planning activities, as well as their campaigns.