Operating a small business can be rewarding, but also overwhelming at times.
Promoting your brand and creating awareness of your funeral business can be expensive. Many funeral home business owners in today’s climate of COVID-19 are substantially reducing their marketing budget. And, it’s understandable that directors will want to audit their budgets and reduce any excess spending, but now is not the time to slash the one area that actually can contribute to future business growth.
We know that most funeral home operators are small business owners, so it’s easy to look at your marketing budget and wonder if it’s worth continuing to invest in one. Advertising costs can rapidly add up and those numbers can certainly give you serious sticker shock, especially if you’re seeing less of a return because of the current environment. However, don’t be too quick to stop your outreach marketing efforts. Once you look a little closer, it’s clear that investing in marketing is one of the wisest choices you can make as a funeral home business owner.
Think on this: Who will know your funeral home business exists if you don’t put some effort into getting it seen?
Not everyone understands the nature of marketing, the many outlets available and the costs associated so it’s always best to speak to a trusted marketing professional about your options. A marketing professional will provide you with insight into the current market, what the going rates are for different marketing programs, and answer any questions about marketing services that might be giving you pause.
And, while marketing can feel like a non-essential expense, it’s not when it comes to standard business operations. There is a reason that your business marketing and advertising expenses are tax deductible.
Proceed With Caution
When a business completely cuts its marketing budget, it also reduces the chance of getting new customers. When a company’s marketing endeavors completely stop, so does much of the communication between the business and its customers. This will leave customers wondering about the stability of the business and how much they care about customer retention. Being out of sight, out of mind, will lead to your funeral business becoming altogether, forgettable.
Here’s what could happen if you cut your marketing budget entirely:
- Your competition could overshadow you.
- You’re communicating a lack of company stability.
- New customers won’t find your brand.
- You’ll see a large decrease in business overall.
- Eventually, your business could shut down.
If you can afford it, you shouldn’t completely cut your marketing budget during a recession or economic shift if you can help it. Now, cost cutting when times are tough isn’t unreasonable, especially when you have salaries to pay, but think long-term and look to not just the next month, but the next 12 months. If you need to, pivot expenses where you can, make adjustments to specific marketing initiatives and maybe defer some objectives – just avoid shutting down all efforts to reach new customers if you can. Reach out to a marketing professional, read up on some of the latest marketing trends, and maybe take a free online course on social media. Just remember to keep your eyes open for creative and affordable ways to advertise on a budget and you will benefit in the long run.
Since our inception, Osiris Software has been helping funeral homes, cemetery and crematory businesses prosper through innovative solutions and world class customer service.