Strategic Business Analysis

February 26, 2020

Step 2: Marketing With ROI

If you look at marketing and advertising as expenses, you won’t expect a return on your investment and therefore won’t get one. Promoting your services to families has never been more critical. Marketing is the word we use to talk about the subject, but we must understand its definition to confirm that what we do will have the desired outcome. The definition I like to use is, “the act a business takes to promote its services and merchandise.” By deconstructing this definition, we can make sure we’re doing the best job of marketing the business. Many think advertising and marketing are the same. They are not. Marketing is a larger process that includes advertising. Marketing is global communication about your services and products. It includes but is not limited to public relations, publishing, and promoting related third parties and services […]
February 26, 2020

Step 3: The Online Marketing and Service World

Six marketing dimensions to implement now. Last month, I provided to readers the vision to understand key points of marketing and advertising and made reference to some matters the online world addresses. Normally, for an article dealing with technical points, I would do it slowly, giving some basics and then moving to more complicated matters. Unfortunately, we do not have time to go slowly! So, let’s deep-dive into the topic, and keep your eyes open. Following are six key points to implement now or you will miss the proverbial boat. Remember, your competitor is reading this column, too! The funeral service online world is used for communication, marketing, education and service. Have Your Own Website  There are some 19,000 funeral homes in the country, some 14,000 of which are privately owned. I would estimate that about 10,000 of those privately […]
September 6, 2019

Issues Amplified

A Consumer Awareness and Preferences Survey commentary By Daniel M. Isard I will begin my commentary with a quote from Alphonse Karr, which was stolen by George Bernard Shaw, who said, “The more things change, the more they stay the same.” As I pore over the 2019 NFDA consumer survey and compare and contrast it with my memory of earlier versions, I’m amazed and saddened by what I see. Allow me to shed light on five more illuminating and condemning issues amplified this year. Before I start, the pollsters are very clear that this survey reflects a younger age than previous surveys. About 36.1% of respondents are between 40 and 54. Is this important? Keep in mind that almost 80% of all deaths take place after age 65, with the average life expectancy in this country being 78.7 years. That […]
July 24, 2019

Trounce Your Technophobia

By Daniel M. Isard Every dynamic of your operations can be enhanced by technology, and families appreciate the professionalism and ease it provides. Our business focuses on death and the living. This can be said of the tools of our trade as well, as we mourn the death of those things we felt we could never do without. Funeral service has lamented the death of three great tools of the trade. Can you guess what they are? I think they include: 1. Office chalkboard outlining all the cases This device was wonderful until you spilled water on it or leaned up against it and erased important details of upcoming services. Or perhaps you had employees with short arms, so they couldn’t write on the top half of the board. 2. Black velvet open-face message letter board While there is really […]
July 3, 2019

Pricing for Real

When you lose profit by setting your prices incorrectly, your firm loses value as well. Imagine it’s 1984 – prior to the FTC Funeral Rule being instituted – and we’re having a discussion about the method to set prices. It takes all of 12 seconds – the price of your casket times four, five or six, depending on whether you want to be higher or lower than your competitor. It doesn’t require a computer or a consultant. Whew, exhausting! Well, as they say, those were the good old days, and since the FTC required itemized pricing, it has been a tough task to undertake and now requires a computer and a consultant with a computer! Since 1984, funeral home profit has declined from about 15% to about 6% (based on a national accounting firm’s published reports and as computed by […]
Call Now Button