By Leader Contributor OneRoom
As our environment continues to experience frequent change, safeguarding your business by remaining vigilant and adapting to the world around you is becoming increasingly important. Funeral homes are now having to contend with an unpredictable economic climate, regular staff shortages and quickly changing consumer needs. Digitalization is also becoming a bigger part of the industry — digital guests are interacting with services in unique but impactful ways.
Those who remain flexible unlock unique opportunities while avoiding the potential hardships that come with inactivity.
Why Your Business Must Adapt to Change in 2023
Adapting to industry changes can help your business:
- Remain competitive.
- Meet customers’ continually changing needs.
- Weather harsh economic tides.
- Capitalize on new opportunities.
- Expand and grow. Innovation is the key to adapting creatively to unexpected changes.
How to Adapt to Rapid Market Changes
Complacency can hurt your business prospects. Always consider branching out into new directions, as anything from green funerals to virtual services can help you remain ahead of the curve. Proactively moving forward with the changing needs of your staff and customers allows you to move together with industry trends, creating new revenue streams while more effectively serving your customers.
Looking for new, meaningful ways for customers to mourn and remember their loved ones is a great mindset for growth.
Embrace New Technology
Technology has changed the way we interact with almost every facet of our lives, and funerals are certainly no exception. Adopting new technologies can help you streamline operations, saving you time and money while better catering to the needs of your customers.
Your website directly represents your business, and families are going to look at your digital presence — or lack thereof — as an indicator of how well you can meet their needs.
For large or multi-site homes, specialized industry software is well-equipped to simplify services and keep everything organized. Many in the profession find technology scary but demystifying and embracing it can deliver exceptional benefits to the business and your service levels.
Seek new Opportunities and Revenue Streams
As the world changes, new opportunities arise for those who are willing to take them. While the more traditional sources of revenue are receding, developments in the industry create alternative revenue streams, which can fill these gaps.
These could come from value-added services, like memorial items, providing catering services as part of your offering, or live streaming and recording. The key to this is ensuring all options are being shared and presented at arrangement meetings so families have a clear understanding of their choices.
For this, it is important that funeral directors feel comfortable and confident to transparently share these options so that the family can make the best decisions for their situation.
Review Your Processes
As things change, you may find the way you’ve done things in the past is no longer optimal. There is a good chance that a review of your processes or systems could lead to more productive or efficient methods of operation or ways you can better support the families you serve.
This could include adding automation to repetitive tasks done manually or identifying where you are repeatedly experiencing issues or falling short of expectations.
Guide and Support Your Employees
Uncertainty and switching from old processes to new ones can make your employees uncomfortable and hesitant.
To help them step out of their comfort zones, aim to create an environment that motivates them to adapt quickly and efficiently and reward them for positive steps in the right direction. Ensure there is adequate training provided. This will help them adapt to change quickly, feel more comfortable, and minimize errors.
Remember to check in within the first month or two to see how the change is being adopted — be aware of any roadblocks or challenges that have come up where your staff may need your support to get back on track.
When making changes within your business, your ultimate goal is to enact positive developments and avoid negative outcomes. It can be helpful to track your changes and their outcomes to ensure that your actions are having the intended effect.
Ensure that your staff members are clear on their responsibilities and foster a culture of accountability. If your changes are not having the desired effects, revise your strategy regularly until you find the unique adaptations that will help your business succeed.
Flexibility is the key to maintaining profitable business operations in 2023 and beyond. While you cannot control the changing environment, you can adjust your ability to react to unforeseen changes by making sure you are always in the best position possible.
Understand how trends are affecting the deathcare industry and how families’ preferences for deathcare are changing, so you can make proactive adjustments to better serve them.
You will be better equipped to handle economic downturns and take advantage of new opportunities with a flexible stance. Try to keep an open mind when it comes to new technology and industry shifts; they can make a considerable impact on your business.
But remember, building a flexible and adaptable business culture requires leadership, proactivity, and total accountability.
Learn how OneRoom can help you broaden your horizons here.