Last Updated on July 8, 2022
If you‚re wondering how to increase cemetery sales, here are a few helpful tips. Streaming video technologies and cemetery software can help. You can even invest in perpetual care trusts. These are great ways to increase your cemetery‚s sales and retain top-notch staff. Many cemeteries host events throughout the year to attract new customers. In addition, consider investing in cemetery CRM to retain top-notch staff and attract great salespeople.
Streaming video technologies
While COVID-19 has forced many cemeteries to look for new ways to keep customers informed, some have embraced streamed video technologies to reach their target market. These new tools allow loved ones to attend funerals without risking their own health and safety. For example, Jenny Crespo, a licensed funeral director and former manager of a large combination location, has seen a sharp increase in sales thanks to her innovative streaming video solutions.
Streaming video technologies are a great way for cemeteries and funeral homes to engage customers with a variety of information, including new services and memorials. A recent survey found that nearly 60% of viewers watch funeral home explainer videos, which help them make a decision. Using live videos to introduce onsite facilities is another effective way to gain trust. Videos also attract attention, as viewers spend 8.1x more time on videos compared to static ads.
Cemeteries faced challenges in the early 2000s, as interest rates on fixed-income investments plunged, and 50% of Americans now choose cremation over traditional casket burials. In addition, labor and energy costs continued to rise, reducing endowment and trust income streams. In the meantime, a new revenue stream has emerged to meet the challenges facing cemeteries. And streaming video technologies are the key to making the most of these new opportunities.
Investing in cemetery software
Today‚s market is saturated with competing products and services. But what can cemetery managers do to stand out and attract more business? One solution is to invest in cemetery software. Investing in cemetery software allows cemetery managers to track sales data, make adjustments, and analyze performance. Then, they can use that data to improve cemetery operations and boost sales. Cemetery owners should also take advantage of cemetery software‚s automated sales reporting.
A comprehensive cemetery software market report will provide insights into the competitive landscape, the key players, and market size and growth. It will also include a discussion of Porter‚s Five Forces and key revenue-generating regions. You‚ll be able to plan your marketing strategy, sourcing strategy, and pricing strategy, based on these findings. This report will help you stay on top of the competition in the cemetery software market.
The cost of a cemetery‚s prepaid services could increase if customers have to pay upfront. However, preneed services don‚t pay much upfront, so prepaid graves can be a valuable asset. Prepaid graves provide lot owners with protection against inflation and vault costs, while the cemetery receives revenue when the grave is delivered. Additionally, prepaid graves are tracked, so cemetery managers can easily identify them when they are not being used.
Marketing campaigns
There are several different types of marketing campaigns for cemetery owners to utilize. One type of marketing campaign will focus on generating a higher level of sales. Another type of marketing campaign will concentrate on building relationships with people who may have connections to the deceased. For example, many cemeteries will host events and offer headstone cleaning services. A third type of marketing campaign may focus on attracting customers by offering unique products. Whether you sell live floral arrangements, Christmas wreath arrangements or even offer holiday services, there is likely a cemetery that is perfect for it.
Incorporating the use of technology and the environment into a cemetery marketing campaign can make a huge difference in the success of your cemetery business. For example, consider offering a green option for your customers. Another way to engage with your existing customer base is by using data. You can also integrate your email marketing campaign with your social media presence. Share virtual tours and notable burials to engage existing customers. Lastly, consider implementing a brand-awareness program.
While traditional marketing strategies involve spending a large amount of money to reach a large audience, the most effective cemetery marketing campaigns are focused on the emotional attachment that people have to the deceased. Try to address these concerns and create marketing campaigns that reflect those values. You can also try putting faces to your brand by participating in farmers markets and other local events. This way, you can attract the attention of environmentally conscious families, which will help increase your cemetery‚s overall sales.
The rising population is another way to grow your cemetery business. According to industry analysts, a growing elderly population is expected to increase cemetery revenue by X.X percent annually. In addition, the increase in per capita income of American consumers will allow cemetery operators to offer value-added services like cremation. Funeral directors can profit from the rising popularity of cremation. Some cemeteries offer limousine services and flowers, as these are high-profit items.
Investing in perpetual care trusts
While short-term interest rates are near zero, and the 10-year Treasury Note is at an all-time low, investing in perpetual care trusts can offer cemetery owners a way to significantly increase their investment returns. The key is to balance the desire to see immediate income with a higher long-term rate of return. Luckily, there are many options for cemetery owners to take advantage of perpetual care trusts.
Creating a perpetual care trust (PCT) can add up to a lot of money. An average cemetery requires $100,000 in water per year and three maintenance crews that cost about $150,000 annually. Not only does this cost money, but a cemetery needs about $50,000 in proactive maintenance and repairs each year. Lastly, it must pay insurance, accounting, and other costs, all of which can add up to more than $400,000 a year.
In addition to creating perpetual care trusts, cemetery operators can also invest in a preneed trust. A preneed trust, for example, allows the deceased‚s wishes to be communicated to a cemetery manager. This type of trust is used to facilitate preneed planning, which enables a funeral home to make more money. Using the money from preneed trusts will help the cemetery make more money and improve its reputation among potential customers.
The investment in perpetual care trusts will help a cemetery maintain its operations and provide services to the public. Without perpetual care trusts, cemeteries would struggle to survive. Moreover, without the funds provided by perpetual care funds, a cemetery will be closed to additional interments. Historically, cemeteries have tried to charge families annually to maintain the grounds. However, this is ineffective as relatives begin to pass away. The perpetual care fund is a much more effective way to cover these expenses.
Investing in perpetual care trusts will also ensure a stable source of revenue for cemeteries. In addition to ensuring that at-need families and pre-need customers have peace of mind, perpetual care also helps to increase cemetery sales by promoting traditional burial services and funerals. Furthermore, many states require cemeteries to use perpetual care trusts in order to provide long-term revenue.
About The Author
Scarlett Aguilar is an infuriatingly humble troublemaker. She's always up for a good time, and loves nothing more than reading evil books and playing typical video games. Scarlett also writes for fun, and finds everything about outer space fascinating. She's proud of her work, but would never brag about it - that's just not her style.