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Enhanced Statistics Enhance Your Business Success

Posted By Bob Boetticher, Jr., Tuesday, July 18, 2017
Updated: Tuesday, July 18, 2017
Enhanced Statistics Enhance Your Business Success

 

CANA is well respected for a lot of things, but, hands down, one of the most valuable assets produced by the association is CANA's Annual Cremation Statistic Report. For the past five years, I’ve been privileged to work as a member of CANA’s statistics committee, and I’ve always seen it as an amazingly powerful tool for analyzing current and future consumer trends and creating a strategy for building and growing my business.

I'm particularly excited about this year's statistics report. In addition to the usual numbers, the report addresses why cremation has grown at such disparate rates in various regions of the U.S. It examines the influence geography has on the percentage of the population that cremates, constructing a model to describe the growth patterns in detail.

CANA also examines the speed at which cremation rates rise, tracking how the velocity of growth speeds and slows as the numbers climb. Here’s some of what they found:

When the cremation growth rate over time is measured, an interesting pattern develops. It can take decades for the cremation rate to hit 5%—in the U.S. it took nearly 100 years from the legalization of cremation in 1876 for the rate to reach 5% in 1972 —but once it reaches 5%, the growth rate is more predictable.

Once you hit 5%, the cremation growth rate speeds up. CANA lays out a statistical model to describe a particular pattern in the rate of growth, beginning with the "Starting Point" of 5% and ending with a "Plateau Period," once an 80% cremation rate is attained.

The good news here—the BIG takeaway—is that we’re entering a period of great stability as far as business planning.

In other words, when cremation reaches 40% growth, you know that things will be moving really fast. This is the prime time to execute forcefully and decisively so as to diminish any disruption to your business. Knowing what lies ahead, you can avoid the panic or knee-jerk reactions that killed the businesses of so many death care providers in the geographic regions that have already experienced the rapid growth phase.

The third research component models demographic traits that correlate strongly with cremation rates. You can apply this information directly to your business.

… people of all races, genders, and ages choose cremation. Other demographic data demonstrate an interesting pattern with potential implications for your business.
Whether compelled by circumstance or eagerly searching for new opportunity, more and more of the U.S. population has chosen to roam across the country and around the world. Many have loosened their connections to their geographic origins and increased their exposure to new traditions. Conversely, there are significant portions of the population who are rooted to their hometowns and remain deeply connected to the traditions they grew up with.

CANA’s report found various traits associated with these "roaming" or "rooted" segments of the population:

RoamingHigher Cremation Rate
Areas with a high concentration of small businesses and businesses owned by women, less religious affiliation or affiliation with religions other than Christianity, higher incomes, lower home ownership but higher home values, higher education levels achieved on average, more immigrants and populations that speak a language other than English in the home.
RootedLower Cremation Rate
Areas with higher concentration of manufacturing businesses and output, high affiliation with Christianity, lower income, higher home ownership rates but lower home values, lower education rates achieved on average.

You can see how important it is to understand your community demographics. If you know which segments of the community you currently reach, you can hone your message even further. You can also find ways to increase your market share when you identify new segments to target.

Come out to see my statistics presentation at some point in the future. I’d love to show you how you can choose to be profitable. It’s empowering to know that you can use these facts, models, and numbers to make educated choices about how to lead your business.

Want to know more about the way statistics can help you? Join me for my presentation on Using Cremation Statistics to Enhance Business Success for Cemeteries and Funeral Homes at CANA’s upcoming 99th Annual Cremation Innovation in New York City, August 16-18, 2017. Register here to take advantage of this illuminating workshop.


Bob Boetticher, Jr.

Bob Boetticher, Jr., a Past President of CANA, is on the CANA Statistics Committee and presents CANA statistics across North America to show how anyone can transform their business with data. A second-generation funeral director and a Market Director at Service Corporation International, he has over 30 years of industry experience. Bob is a funeral, cemetery, and cremation expert who is dedicated to improving the funeral profession.

For more information, take a look at CANA's Industry Statistics brief. Members can access the full Annual Statistics Report and archives by logging in.

Not a member? Consider joining your business to access tools, techniques, statistics, and advice to help you understand how to grow the range of services and products you can offer, ensuring your business is a good fit for every member of your community – only $470!

Tags:  consumers  statistics  tips and tools 

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