I work with a couple of financial advisors on my investments.  I do a lot of research on my own and then visit with the advisor(s) when making changes to my portfolio.

Doing that research led me to read this article from Seeking Alpha (which may have a paywall) where the author suggested that “that weakening consumer brand loyalty is making traditional consumer discretionary stocks less attractive, particularly as products become easier to replicate and digital platforms allow smaller companies to build direct customer relationships.” (Bolded emphasis by Funeral Director Daily)

The author makes the point and claims that Nike and Adidas use the same factories in China and Vietnam and then states, “It seems to be relatively easy if you have a design team that knows how to work with these factories. A newcomer can locate a factory that can turn out reasonably good-running shoes of good quality for a good price.”

Tom Anderson
Funeral Director Daily

That comment made me pause when I thought of Death Care and specifically the cremation process.  To his point, I would argue that a newcomer to the business can find a trade crematory who will fulfill the same end result of cremated remains. . . . .and without the expenses of a branded location and full-time staff, can possibly due it for less cost.  And, the article author is correct when he mentions, “digital platforms” can allow these smaller companies to build direct customer relationships.

That brings me to an intersection where I continue to agree with the author of the article.  His article goes on to say that he is leaving behind stocks of these traditional branded heavyweights for the stocks of companies that provide great customer experiences or CX. . . . . I also think that there are some parallels to Death Care in that statement.  It appears that the leading edge of the next wave of great Death Care providers will be those who provide their service with great experiences to the families that they serve.

That Seeking Alpha author, David H. Lerner, brings it one step closer to Death Care when he states that those in search of great customer experiences are not only young people but seniors as well.  He notes that the seniors are leading in the travel purchase sector and with that travel that is purchased, it is all about “experiences”.

I’d rather have a great “Brand” reputation than operate a business without a great “Brand” reputation.   However, as we continue to move forward in Death Care, I expect that “Brand” will have less and less to do with consumer choice than a “Great Experience” does.  Brand loyalty will go so far, but just as the positive experience of wearing “Hoka” shoes has replaced the brand loyalty of many Nike customers, your funeral home could find the same situation if you don’t provide the “Experience” in how you serve your clientele.

Related — Are you interested in benchmarking your Customer Experiences?  Take a look at this from Johnson Consulting Group.

More news from the world of Death Care: 

• New laws planned to tackle rogue funeral firms.  BBC News (Great Britain)
• Grave Concerns:  Explorng the history of the British cemetery and its uncertain future.  The Past
• Raleigh family finds stranger buried in their plot, cemetery owner stays silent.  Hoodline Raleigh-Durham (NC)
• New funeral establishment regulations going into effect as Colorado works to balance industry, victim concerns.  Video news story and print article.  KKTV Channel 11 – Colorado Springs (CO)

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