Two key social media levers that have nothing to do with technology With all the recent buzz about social media, I think it is important to remember that social media is not new. In fact, there are a few practitioners who mastered social media decades ago and built veritable "competitive fortresses" on the concept. There [...]
In order to properly determine EBITDA you first have to present your financial statements correctly. If you are not using an accounting service that specializes in the funeral or cemetery industry then it is highly likely that your financial statements are not presented in a manner that makes ratio analysis meaningful. For instance: the way [...]
for the past 4 weeks I have been attempting to spark a conversation about Pricing Strategy against the backdrop of a recent Harvard Business Review article: "How to Stop Customers From Fixating on Price." Candace Franco responded with great insight: "Very thought provoking … but here is one I’d like to talk over with someone [...]
Partition Prices to Highlight Overlooked Benefits This is the 4th and last in a series on pricing strategy based on an article from Harvard Business Review of the same title. The purpose of this series is to stimulate thought and conversation among practitioners about pricing as a strategy rather than simply as a way of [...]
Part 3 Willfully Overpricing to Stimulate Curiosity Last week we discussed the commoditized customer and the second of 4 pricing strategies: “Using Price Structure to Clarify Your Advantage.” If you didn’t think I was certifiable last week there is a good chance you will be thinking about sending me for treatment this week. Please remember: [...]
Part 2: “Using Price to Clarify Your Advantage” Increasingly, funeral markets are being commoditized. This series is adapted from an article in Harvard Business Review entitled “How to Stop Customers from Fixating on Price.” You can purchase a pdf copy directly by clicking on the link. In the article the authors point out that: “Most [...]
As I was preparing this week's article my friend, Dale Clock, posted this question and a followup on his blog Dale Time. (please click on the highlighted words and read his full comments) This is a phenomenon that has become all too familiar and one that deserves discussion and feedback. How do you handle price shoppers? [...]
Why it is so important that you practice Critical Thinking I am concerned that we, as a profession, are making vital decisions about our future largely on the basis of opinion and conjecture. Worse, we are allowing ourselves to be influenced by strong personalities or companies who have a need to fit their product into our solution. [...]
Breaking The Cycle DeathCare is in its 13th year of declining profitability. Last year is reported as our worst year ever and it's beginning to tell. Answer these questions: ___Do you sometimes feel trapped? ___Do you sometimes dread going to work? ___Is it easier to do it yourself than tell someone how to do it? [...]
How a part time hostess taught me the most valuable lesson. It was late 1989. Rachel was then in her mid 70’s. A retired school teacher, she had worked for us for about 6 or 7 years. She was a quiet, unassuming and gracious woman who had that gift of always making you feel welcome. [...]