Why You Need to Transform Your Funeral Home (Or Get Left Behind)

February 4th, 2013

By Joe Joachim

Feb 5

78 million people in the richest, most powerful demographic in the U.S. are making their way into your client family base. And with them, they bring nearly $3.2 trillion in annual spending power.

This demographic – the Baby Boomers – have already begun to discount the value of funeral service, causing us to redefine what we do, how we do it and why we do it.

These new expectations aren’t news to anyone, but many funeral homes are still hesitating to better fit the evolving needs of the Boomers.This hesitation is making the way we serve our families and market our funeral home less effective and more irrelevant to our families.

And unfortunately, if you don’t transform firm to meet their needs… you’ll simply get left behind.

The Changing Needs of Baby Boomers…

As a funeral professional, your families’ needs come first, and now is the time to tune into them. Boomers expect a much different experience than the families we’re used to serving. And thanks to the Internet, everything from the way Boomers find you funeral home to the way they make purchasing decisions has changed.

Let’s take a closer look at how Boomers can be characterized:

They’re information seekers.
97% of consumers today (particularly Boomers) turn to the web to find a reputable product or service.

They’re not as brand loyal.
Boomers are willing to switch brands for a variety of reasons – but the number one reason is their perceived value. They’re willing to pay more for something that better meets their needs.

They’re NOT as price sensitive as you think.
Boomers will spend more if it means more value – in fact, in a recent study, only 50% them were willing to buy off-brand just because it costs less.

They’re more transient.
This means they will drive a little farther to get the services they want – overlooking the fact that you might be the local firm.

They’re immune to traditional advertising.
Numbers don’t lie – 44% of direct mail is never opened, and 86% of consumers skip television ads. Boomers prefer to research products and services online, not hear about them through an intrusive one-way message.

They’re Internet and social savvy.
Almost 80% of Baby Boomers are online- and spend between 36-40 hours browsing the web every month. In fact, they’re the fastest growing demographic on Facebook.

…And Why You Need to Adapt to Them

If you haven’t noticed a strong correlation between your declining revenues and the rise of the Baby Boomers, it’s time to wake up and smell the coffee.

In a recent study funded by the Funeral Service Foundation, it was revealed that Baby Boomers actually seek liberation from the traditional views of the funeral service industry.

Everything – from our offerings to the way we market them – isn’t hitting the mark with our biggest, wealthiest, most powerful demographic. And what are we doing about it? So far, not a whole lot. As a result, we’re seeing cremation rates rising faster than we can keep up.

But here’s the kicker: in the same study done by the Funeral Service Foundation, out of 150 Boomers interviewed, not one of them said they wanted to do nothing for their end-of-life celebration.

That means the opportunity to put an end to our declining revenues and rising cremation is there. By understanding why it is we do the things we do, and by leveraging technology and the Internet to help us do them better, we’ll have a brighter future than we could ever imagine.

How To Better Serve Baby Boomers

Now that we know change is here to stay, check out these resources to find out how to better serve Baby Boomers:

The Ultimate Guide to Serving Baby Boomers
If you’re looking for better ways to embrace social media, technology and personalization to better serve Boomers, this is the go-to resource for you!

Why Your Families Don’t See Value in Funeral Service (And What to Do About It)
Lajos Szabo explains why Boomer’s don’t see value in our services, and how we can overcome it as a profession.

5 Sure-Fire Ways to Provide More Value to Your Families
In response to Lajos’ blog explaining why Boomers don’t see value in funeral service, this blog offers 5 actionable ways to start offering the kinds of services your families are looking for.

28 Eye-Popping Stats that Reveal the Future of Funeral Marketing
Things are changing… traditional advertising just isn’t attracting families like it used to. Here are some stats to get you well on your way to a new, relevant kind of funeral advertising and marketing.

Boomers are Here to Stay

Baby Boomers are here to stay, and so is the fundamental shift in their perceived value. Now that we know what Boomers are looking for, let’s start embracing change to better serve them.

By leveraging the tools Boomers are using everyday like the Internet, technology and social media, you can achieve the goals you’ve always had… just in a less expensive, efficient and more effective manner.

It’s the firms that are rethinking their business who are remaining relevant and succeeding in these challenging times. And now you can too.

In what ways have you changed your services to better serve the Baby Boomers? Share your thoughts below!

ABOUT THE AUTHOR

Joe Joachim is the CEO and Founder of funeralOne, the first global solutions firm leading a movement of change for the funeral profession. For the past 10 years, he’s developed game-changing solutions that help funeral professionals increase the value of their service offerings, connect with the families of today, and become more profitable. funeralOne’s solutions include: website design, aftercare, funeral eCommerce, and personalization software. Connect with Joe on Google+.