For more than a decade, the Pre-need Motivators report has provided exclusive insights about the motivations and experiences of people who make advance funeral plans. The newly released fifth edition, which you can download now for free, continues to offer information to help you better understand the preferences of the people who are most likely to prearrange and fund funerals. This data is an excellent starting point to help you effectively communicate with people in your community about the benefits of this valuable service.
Here are five important takeaways from the most recent survey of Homesteaders policy owners as published in Pre-need Motivators – statistics to keep in mind as you consider ways to better serve your pre-need client families.
1. Most policy owners learned about pre-need from someone who had already prearranged.
More than half of the respondents (56%) first found out about prearranging because they knew someone who had already made advance funeral plans.
What this means for you: Earning word-of-mouth referrals continues to be incredibly valuable for your firm. One of the best ways to share your story is to have your brand advocates tell their friends and family members about the outstanding experiences you provided for them.
2. It can take a while to decide to make advance funeral plans.
More than a quarter of the survey respondents said that more than two years passed between when they first thought about prearranging and when they completed the paperwork.
What this means for you: Know that advance funeral planning isn’t likely to be top of mind for potential clients, even after learning that it is available. Continue to share the benefits of prearranging and closely monitor the effectiveness of your funeral home marketing messages.
3. Most policy owners considered only one funeral home when making prearrangements.
More than 70% of pre-need policy owners only considered one funeral home for their advance funeral plans.
What this means for you: Your firm should strive to be the go-to resource for advance funeral planning in your community. Today’s consumers want to be informed, and by providing information about the benefits and choices that prearranging provides, you’ll be more likely to be the firm they call when they’re ready to put those plans in place.
4. Nearly all policy owners are “completely” or “very” satisfied with their decision to prearrange.
Ninety-six percent of policy owners selected one of these top two indicators of satisfaction, and all of the respondents indicated some satisfaction with their decision.
What this means for you: Advance funeral planning presents an opportunity to enhance your funeral home brand by providing an experience that is highly likely to result in satisfaction for your client families. A strong pre-need program can offer benefits for your entire business.
5. Policy owners are very likely to recommend prearranging to someone else.
Nearly all policy owners would at least consider recommending prearranging, and more than 40 percent of them had already recommended it within a few weeks of making their own arrangements.
What this means for you: This data further reinforces that pre-need continues to be a service that is highly likely to generate those valuable word-of-mouth referrals. Make it easy for clients to share their experiences with others who could benefit from advance funeral planning.
To learn more about the reasons behind consumers’ decisions to prearrange, and about their experiences before, during and after they finalize their advance funeral plans, download your free digital copy of our Pre-need Motivators report.
The information in this article is based on the results of a 2017 Homesteaders policy owner survey. Download the report for additional survey details.