Market Research
May 28, 2020
Published by 
Nina Renee on May 28, 2020
Nina Renee on May 28, 2020“Coronavirus Pandemic Forces the Funeral Industry Online” was the top story in CNBC Business News on May 27th, referring to key findings in Foresight’s revolutionary study designed to understand consumer attitudes, perceptions and behaviors about the funeral and cemetery industry prior to, during and after the Covid-19 pandemic. Jane Wells, a prominent reporter for CNBC news, recently interviewed Chris Cruger, Chief Operating Officer of the Foresight Companies, to discuss key findings of The Foresight Companies 2020 Funeral and Cemetery Consumer Behavior Study. CNBC highlighted the fact that the $20 billion funeral and cemetery industry is being forced to meet the challenging desires of the customer. Wells noted that online price transparency and live-streaming of funeral services may be the norm going forward, even as the country begins to open up. She also emphasized that people are increasingly preplanning their funeral […]
May 27, 2020
Published by 
Nicole Vullo on May 27, 2020
Nicole Vullo on May 27, 2020New survey measures transformations to a historically unchanged industry with lasting implications on buying, celebrations, practices, and physical infrastructure The pandemic has significantly altered consumer attitudes and behaviors in three key areas of the funeral and cemetery business – the buying and shopping process, the necessity of physical presence to support loved ones in their time of need, and the influence of technology on both. This according to The Foresight Companies 2020 Funeral and Cemetery Consumer Behavior Study. The pandemic has necessitated consumer use of technology to adapt their behaviors to a business steeped in tradition, and the survey makes clear that these behavior changes are here to stay. For example, 75% of consumers now want pricing online – a practice virtually unheard of today, and many consumers will not do business with providers who do not deliver transparency. In […]
February 10, 2020
Published by 
Dan Isard on February 10, 2020
Dan Isard on February 10, 2020A funeral home is as much about serving families as it is service to the dead. How aftercare and outreach programs can bring you the best results. I have seen many efforts put forth in this profession to influence patronage within a market. Nothing is perfect; there is no magic bullet to marketing. It’s when you try hard not to market and instead adopt a true sense of altruism that you get the best results. That’s what aftercare and outreach do. First, let me establish a universal definition: Aftercare and outreach are the efforts a funeral home makes to help surviving family and community members adjust to the loss of a loved one. While this is a fairly broad definition, different people need different tools to help them continue without that person in their lives. Various programs deal with all […]
May 29, 2019
Published by Dan Isard on May 29, 2019
Dan Isard on May 29, 2019It’s a must-do in today’s world, but it also must be done right so it becomes an asset to your business. The use of social media by funeral homes isn’t a matter of choice anymore, it’s a necessity. Digital media has radically changed our lives: – how we communicate, shop, work and get our news. In the not-too-distant past, funeral homes with websites were a big deal. Social media was just emerging but was not widely adopted by most funeral providers. Fast-forward to today: In most industries, not having an updated website and avoiding social media is considered unusual. In fact, most funeral firms use both mediums to some extent. Yet social media is still widely underutilized in the funeral profession and is, to some degree, misunderstood. This is especially true when considering the effective deployment of this medium for […]
March 20, 2019
Published by Dan Isard on March 20, 2019
Dan Isard on March 20, 2019To market your message for the future, capitalize on the tools and techniques of communication that exist today. As we prepare to reinvent your business with foresight (ahem, it’s just a common word, folks) and vision for 2020, there is nothing more critical than marketing. Because you cannot assume families will simply come to your funeral home, you must address the methods and design of marketing today – not in anticipation for the turn of the 21st century and not stuck in the 20th century. The key elements of marketing have changed. Everything you thought was marketing 20 years ago has been eviscerated, blown up or has died. The one thing that has not changed is your message. Advertising and marketing attempt to transmit your message to those seeking that message. I contend that the message of funeral directors over […]
March 5, 2019
Published by Dan Isard on March 5, 2019
Dan Isard on March 5, 2019We are living through the most amazing of times as we watch our country go from being a burial-oriented society to being a cremation-oriented society. I say “amazing” because we are dealing with a sociological change that has been taking place for more than 5,000 years but has seen its popularity significantly increase in the last 25 years. Cremation is not a new phenomenon. In my book on cremation, I identified that there is clear archaeological proof that Greek and Macedonian cultures, 3,000 years before the birth of Christ, used cremation as a routine choice for helping a body transform to the next life. These people used cremation because their societal leaders told them to use it. We know with the rise of Judaism, which forbade the use of cremation, the dominant societies used burial. The leaders of the early […]
February 26, 2019
Published by Dan Isard on February 26, 2019
Dan Isard on February 26, 2019A firm has a tremendous advantage if it studies its community and understands that most consumers simply have not yet decided on a funeral provider First Things First Prior to beginning development of any marketing plan, it’s wise to analyze funeral home performance to ensure proper initiative deployment and allocation of financial resources. Consider when you’re not feeling well. Do you visit a physician who only listens to your symptoms and doesn’t perform any diagnostic tests? Interestingly, tests can reveal not only the original source of your symptoms but possibly other and more serious health issues. When was the last time your funeral home underwent a complete financial health assessment? This doesn’t mean a scan of your annual profit and loss statement or year-end balance sheet. Understanding the financial strengths and weaknesses underlying your monthly P&L reports will assist with […]
December 19, 2018
Published by Dan Isard on December 19, 2018
Dan Isard on December 19, 2018When looking to purchase another firm, a SWOT analysis is a critical step in evaluating your firm’s and your market’s strengths, weaknesses, opportunities and threats. Dear Dan, I recently bought a funeral home in the next town. I think I did everything right. For years, I clipped your articles, and they helped prepare me for the big purchase. I got a business valuation (from a competitor of yours), secured financing by using my existing real estate and the new real estate, and got a Covenant Not to Compete (CNC) with the owner. I assigned the key man who had been there to a CNC as part of his employment agreement and am paying him an extra $10,000 a year for 10 years to promise not to compete. Everything was locked up tight at closing. Since the closing, however, a new […]
December 18, 2018
Published by Dan Isard on December 18, 2018
Dan Isard on December 18, 2018To successfully move their firms to a secure future, owners must have clarity of vision. Begin by answering these four important questions. Being a successful business owner requires vision, and the clarity of that vision will provide the best chance of success into the future. You must see – or predict – the future and be prepared to address its issues sooner rather than later. You also must communicate your vision for the future to the many stakeholders who rely on your decision-making, some of which are more reliant on your prognostication than others. Your community, employees, lenders/investors and family all have a vested interest in your ability to make good decisions. Of course, you rely on your decision-making as well. Experience is one of the best teachers; it shows you what can happen and the kinds of decisions you […]
December 14, 2018
Published by Dan Isard on December 14, 2018
Dan Isard on December 14, 2018Dear Dan, About 20 years ago my wife and decided to start a cemetery with two other couples. We knew nothing about the cemetery business before this venture began. We found land and a landscape architect. We hired companies to build some above-ground crypts and niches. We invested some of our cash and borrowed heavily from a local bank. We invested $2 million in 50 acres of land, but due to local ordinances, we can only develop half of our total space. We have 25 acres of land for cemetery use and 25 acres that must be left in its natural condition. From the beginning of this business venture, we have been losing money and sleep. We have not been cash-flow positive in any year. Now, all six of us are retiring and we don’t want the hemorrhaging of cash […]
November 5, 2018
Published by Dan Isard on November 5, 2018
Dan Isard on November 5, 2018Do you understand why your business has a profit? It is simple math. Revenue, minus Cost of Goods Sold, minus Operating Expenses equals Profit. If profit is as simple as a 3 entry math equation, then why have profits declined 60% or more during the past 30 years of the funeral profession? The simple reason is: profit is simple math but analyzing how to maximize profit is complex. OGR has enlisted Dan Isard’s The Foresight Companies to help its members with The Strategic Business Analysis (“SBA”) that requires heavy analysis. The average profit margin of a funeral home is less than 7%. The average Foresight client profit is anywhere from 28% to 32%. The reason is our deductive intelligent tools that help clients understand their operating metrics, set prices and manage their operations to a revenue and profit goal. Now, […]
November 2, 2018
Published by Dan Isard on November 2, 2018
Dan Isard on November 2, 2018Relationships and reputation are the keys to convincing undecided consumers to choose your funeral home. Make sure your marketing is based on that fact. Funeral service professionals continue to face challenges as consumers shift away from “traditional funerals.” In fact, “traditional funeral” is jargon specific to funeral directors which often evokes misty eyes and wistful thoughts of yesteryear. The reality is that a “traditional funeral” is becoming as extinct as those who continue to use the jargon. Positioning a funeral home in today’s market and educating consumers requires a multifaceted marketing approach. Like it or not, services and products are for sale; there is a price for each and a consumer must choose to make a purchase. Creating the message to attract “buyers” is more important now than ever before. Even though most consumers understand that funeral homes care for […]