Valuation Mergers and Acquisitions

June 23, 2021

If You’re Not Growing, You’re Dying

One of the sexiest topics out there is always growth. The only question is, what does growing really mean? For the purposes of this discussion, let’s consider growth becoming greater over a period of time. Growth doesn’t necessarily mean an aggressive acquisition binge, but it does mean being in a constant state of evolution. As we have seen in the 2021 Foresight Consumer Behavior Study, 32% of consumers have a different attitude toward the funeral and cemetery profession or their expectations for memorialization have changed as a result of the pandemic. Consumers are embracing a new way of doing things – and they have no intention of going back to the old way of doing things. Technology is rapidly becoming the bedrock of the profession. Over the past year, three groupings have emerged – there have been clear winners and […]
June 23, 2021

Back to the Basics of Leveraging Technology: Building a Robust Website

“When used right, technology becomes an accelerator of momentum, not a creator of it” — Jim Collins, Good to Great The COVID-19 pandemic has forced all of us in the profession—client families, guests, funeral homes, crematories, and cemeteries—into having to adopt new ways of doing things. And once we are open to doing things in a new way, we can never really go back to doing things exactly how they were done before. It is human nature. We have been forced to lean on technology in order to serve families—virtual meetings online (via Zoom, WebEx, etc.) for arrangement conferences, DocuSign to obtain signatures for contracts and approvals, online streaming of services, etc. However, this article is not about pioneering technology in deathcare services, nor is it about technology for tech’s sake. Internet, virtual meetings, and streaming services are no longer […]
June 23, 2021

A Beacon of Hope

Position your firm like Lady Liberty and earn the trust of your community. The year was 1876 and America was celebrating the 100th anniversary of the Declaration of Independence when the French government presented the United States with a gift to honor the celebration. The colossal neoclassical sculpture known as Liberty Enlightening the World (the Statue of Liberty) was created by French sculptor Frédéric-Auguste Bartholdi, who crafted it from sheets of hammered copper. Alexandre Gustave Eiffel, who designed and constructed the Eiffel Tower, created the steel framework that became her endoskeleton. This gift of friendship between two nations was dedicated October 28, 1886 and became known fondly as Lady Liberty. It would become a beacon of hope for millions of immigrants arriving in America via Ellis Island. She also became the epitome of the American dream, one based on the […]
June 22, 2021

Chapter Six: Community Service as Ministry and Marketing

Whether you call this effort aftercare, community service or outreach programming, there are many ways to market the value of your ministry. Imagine you turn on your television and see a barker screaming, “I have a solution that will boost your business, increase average revenue per call, reduce bad debt, grow preneed and increase case count!” (If you’d change the channel, I wouldn’t blame you.) In the 35 years I’ve been researching the topic of community service performed by funeral homes, however, I can tell you straight up that doing community service properly will indeed increase average revenue per call, decrease bad debt, grow preneed services and increase your case count! It will also increase facility utilization (prepandemic, at least). Now, the question: “Why does community service create so many key benefits for my business?” There are three reasons. First, […]
May 21, 2021

The Reimagined Funeral and Cemetery Professional—Post Pandemic

As we were all learning to work the ‘new normal’ into our lexicon The Foresight Companies conducted a study focused on consumer attitudes toward the funeral and cemetery profession in the post-pandemic era. The findings around the role of our profession were simply astonishing. The pandemic has altered not only how funeral homes and cemeteries serve their families today, but it also has produced a reimagined role for funeral and cemetery professionals both in perception and reality. The result is an elevated view as “last responders” in the eyes of the consumer. When a death occurs, most families arrive at funeral and cemetery facilities with unsure expectations. Emotions are high and the need for quick decisions can cause even more stress. Is it that much of a surprise that consumers feel a disconnection between the opinion of our profession and […]
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