A two-pronged approach: marketing prepaid vs bonds
Recent research commissioned by Foresters Financial provides some interesting guidance about the difference between promoting pre-paid funerals versus funeral bonds.
The research, conducted by consultancy NewFocus, indicates that the motivating factors for purchasers of the two products differ considerably.
Whereas the primary motivation for those purchasing prepaid funerals was to shield family from the financial expense and stress of arranging a funeral, those purchasing bonds tended to be interested in the investment potential of the product.
“It’s a great bit of information for those who are looking at adding some direction to their marketing efforts,’
Noel Woff, General Manager Sales at Foresters Financial commented.
“Firstly, it allows funeral directors to tailor their products to their market; for example, if they consider their clientele to be financially savvy investors, they may wish to create a campaign that focuses on the financial benefits of bonds. Alternatively, they may wish to focus on prepaid funerals and promote the idea of minimising stress and hassle for family members and loved ones.”
It also means funeral directors can tailor their messages around each product.
“A lot of our funeral director clients sell both pre-paid funerals and bonds. Now we have direction on how you can have different promotional messages for both products.”
For more information on how Foresters Financial can support your marketing efforts, contact us today.