Market Research
November 22, 2021
Published by 
Dan Isard on November 22, 2021
Dan Isard on November 22, 2021Estimating case count during/after a pandemic. Creating and implementing a strategic plan starts with estimating your revenue. While calculating revenue involves a simple formula, estimating it during a pandemic is very difficult. More on that later in the article. So, as I said, revenue involves a simple formula, R = C x $, in which revenue equals calls multiplied by $ or average dollars/call. For example, if you expect to serve 100 families annually and your average dollars/call is $6,000, then your revenue will be $600,000. Now, during normal, non-pandemic times, you would need to make two basic assumptions to calculate your revenue: Normal Assumption 1: Upon how many calls should I build my budget? Most people use a three-year average, while others look for trends up or down and make a pro forma estimate based on those trends. I […]
October 6, 2021
Published by 
Foresight on October 6, 2021
Foresight on October 6, 20212021 Funeral and Cemetery Consumer Behavior Study Insights Summary DOWNLOAD NOW The future is NOW for the funeral and cemetery profession. The question is, are you planning to adapt and evolve your business or plan your succession? If you are staying in the profession, we encourage you to download our Insights Summary on the results of our 2021 Funeral & Cemetery Consumer Behavior Study. You will discover how to embrace and implement the new changes that are vital to your future business success.
August 24, 2021
Published by 
Chris Cruger on August 24, 2021
Chris Cruger on August 24, 2021It’s time to decide whether you’ll evolve your business or prepare for succession. The reference to “growth” in the business world does not necessarily coincide with multiple acquisitions. What it does pair with is the word “evolve.” The Foresight Companies’ 2021 Funeral and Cemetery Consumer Behavior Study revealed that consumers are embracing completely new ways of doing things and have no intention of going back to the old ways. They are evolving, and so should we. Empirical insights from the study show this clearly: 74% of consumers expect to find prices online (66% expect to see products online as well). 47% of consumers will not do business with a firm if it does not provide pricing online (if there is an alternative). 32% of consumers’ attitudes about the profession have changed because of COVID. Consumer attitudes about the profession’s ability […]
June 23, 2021
Published by Chris Cruger on June 23, 2021
Chris Cruger on June 23, 2021One 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
Published by 
Gabriel Ngo on June 23, 2021
Gabriel Ngo on June 23, 2021“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
Published by 
John McQueen on June 23, 2021
John McQueen on June 23, 2021Position 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 […]
May 21, 2021
Published by Chris Cruger on May 21, 2021
Chris Cruger on May 21, 2021As 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 […]
May 12, 2021
Published by Foresight on May 12, 2021
Foresight on May 12, 2021In what was undeniably the most transformative time in generations, The Foresight Companies conducted a study of consumers to put empirical data behind the speculative trends about how COVID-19 will impact the funeral and cemetery profession, both in the short-term and the long-term. None of us could have imagined that almost one year after debuting this groundbreaking study, we would still be faced with the challenges of the pandemic. In 2021, the consumers were still talking, and we were listening! Our follow-up 2021 Funeral and Cemetery Consumer Behavior Study not only builds upon many of the key insights that we shared in 2020, but it also delivers new and fascinating findings into the mind of the consumer as we start to move beyond the pandemic. It will also address the opportunities that lie ahead in funeral service including reinstituting consultative […]
May 10, 2021
Published by Foresight on May 10, 2021
Foresight on May 10, 2021New experiences, technologies, and changing expectations have even the oldest Americans embracing non-traditional ways of mourning Phoenix, Arizona – May 10, 2021 – As a result of the global pandemic, consumers have experienced new ways of mourning the loss of their friends and family, and that has permanently changed the way they mourn, this according to The Foresight Companies 2021 Funeral and Cemetery Consumer Behavior Study. Nearly 1/3 (32%) of survey respondents say their attitudes have changed as a result of new experiences, including using new technologies and adopting non-traditional approaches to celebration. The global pandemic has necessitated adoption of new technologies and behaviors to the highly traditional funeral and cemetery business, and the FCCBS survey, now in its second year, continues to show that consumers are re-examining even the most fundamental ways consumers mourn. This includes even those groups […]
April 22, 2021
Published by John McQueen on April 22, 2021
John McQueen on April 22, 2021Technology has taken the world by storm, especially in the areas of communication. Today, we have a multitude of ways in which to connect with our customers, from email to text to instant message to FaceTime and more. Yet, the number one form of customer contact is still the telephone. Although 82% of our communication is done telephonically, it is also the single largest means of communication that lacks staff training. Professional telephone etiquette can impact a positive first impression, influencing a customer’s behavior and actions toward a business. As my father always said, “you never get a second chance to make a great first impression!” If the first interaction most customers have with your firm is over the phone, should you dedicate ample time to train your team to make that impression the best one possible. According to the […]
March 22, 2021
Published by Gabriel Ngo on March 22, 2021
Gabriel Ngo on March 22, 2021“Funerals just don’t happen by themselves.” – said every Funeral Director ever No, funerals simply do not happen by themselves. They require expertise, planning, coordination, teamwork, management, and leadership in order to successfully serve a family and perform a funeral service—not to mention the consistency to do this over and over again at the highest level of performance. So why is it then, that the same typically does not occur in succession planning for most funeral home owners? In a November 2020 Funeral Business Planning Survey published by an outside research firm in partnership with the National Funeral Directors Association (NFDA), nearly three out of four (73%) respondents do not currently have an exit strategy or succession plan, despite more than one-third planning on retiring within the next five-years. Now, I won’t get into the reasons why this typically is […]
February 21, 2021
Published by Gabriel Ngo on February 21, 2021
Gabriel Ngo on February 21, 2021“Do the best you can until you know better. Then when you know better, do better” – Maya Angelou (Poet/Activist) This quote above seems so simple, does it not? Do better when you know better. But as often is the case, simple things are incredibly difficult to do…especially when everything has been changed by a world that has experienced Covid-19. Dealing with and adapting to change is difficult enough for most, much less dealing with and adapting to a change that has forced its way into literally every space of our lives. In continuing to spotlight various perspectives of interest from our 2020 Foresight Funeral and Cemetery Consumer Behavior Study (FCCBS), Foresight Focus recently published a third White Paper entitled, How Covid-19 Changed The Role Of The Funeral And Cemetery Professional. In it, we examined what wants the consumer revealed […]