

We finance caskets CLICK HERE and send it directly to the funeral home of your choice.
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We finance caskets CLICK HERE and send it directly to the funeral home of your choice. Or go directly to the application HERE.
Smart companies look for “Line Extention” to help them grow. I learned a little about “Line Extension” in the late 1990’s and early 2000’s when I served on a Board of Wells Fargo. At that time, CEO Richard Kovacevich realized that Wells Fargo had satisfied customers in the banking business. He realized that they were already our customers and that Wells Fargo could grow greatly if we simply gave our already “satisfied customers” more products.
The average banking customer has 16 financial products — savings account, checking account, mortgage, line of credit, auto loan, IRA, insurance policies, and on and on. Kovacevich wanted Wells Fargo not to just be their checking or savings account bank, but to get all 16 products if possible.
Kovacevich used to say, “We have great banking market share, but we don’t have our customer’s wallet share of products”. That’s when the concept of “cross selling” came to Wells Fargo. Tellers were instructed, depending on the current transaction being done, to mention to clients “Have you ever thought of having one of our financial planners look at your investments” or “Have you thought of re-doing your mortgage with us”.
We finance caskets CLICK HERE and send it directly to the funeral home of your choice. Or go directly to the application HERE.
The whole situation and goal was all about having our satisfied customers do more business with Wells Fargo in lines of business that they didn’t currently use Wells Fargo. The secret, in Kovacevich’s mind was that they were already satisfied customers so Wells Fargo would have very low customer acquisition costs. Wells Fargo became the standard for cross-selling. . . Here’s a couple of articles that I found on their success:
We finance caskets CLICK HERE and send it directly to the funeral home of your choice. Or go directly to the application HERE.
You do it. Funeral homes use line extension every day. We’ve extended our product lines from giving funeral service to selling caskets, to selling vaults, to selling monuments, and some funeral homes continue to extend and sell into estate help. And, on the other side of the death, we’ve extended our line extension into pre-need. And even with our facilities we are extending their business lines from simply being funeral facilities to event centers which include non-death care related events.

Tom Anderson
Funeral Director Daily
And, funeral homes are no different than Wells Fargo was. Once they get a satisfied client it is pretty easy to move that client along the line extension into different products. This was one of Wells Fargo’s main tenents about customer retention, “The more services you sell to individuals, the more profitable those customers are (even with discount bundles for multiple services)—and the harder it is for them to break away.”
So, cross-selling and line extension becomes a customer retenton tool as well.
Have you ever thought about what business or industry has a line extension that butts right up against Death Care. . . . .and could that business move into Death Care? Today’s “Out of the Box” Death Care idea brings you an idea of who one of those potential industries might be.
In my way of thinking the most likely business to “extend” into Death Care would be hospice providers. Think about it — they spend the last 90 to 180 days of the client’s life with the family. . . . many of the nurses becoming trusted advisors. And for many of those on hospice the hospice company was probably a provider of home health, nursing home, or assisted living to the client prior to the hospice care. In essence, they have already become a valued client of the hospice provider. . .would they count on them for cremation services if offered or would they prefer to go online with an unknown provider?
With the high numbers of cremations, and with the ability to put transfer care specialists and celebrants or death doulas on staff in addition to chaplains already on staff by many hospice providers they are almost ready to provide death care cremation services today. Service planners or arrangers employed by the hospice would be able to schedule and conduct cremation or memorial services in many venues, including churches.
It may not happen today and it may not be hospice, but I think traditional funeral home owners should always be watching their flanks on who might become competitors in the near future.
Funeral Director Daily take: There are already some “Out-of-the=Box” providers that have entered Death Care. The Salvation Army operates about a dozen locations in Australia. Here’s an article on how their funeral services had a positive impact on one family. . . .and, here’s the website for Salvos Funerals of Australia.
More news from the world of Death Care:
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