Tuesday, October 7, 2014

Do you know the ROI of a memorial?

Stuart McDaniels,
Materials Manager
In the business world, and often in our personal lives as well, we are programmed to think in terms of ROI or “return on investment." Every investment we make should be weighed against the possible return. If we spend money on a new piece of equipment, we should have an expectation of what the return of that investment will be back to our business. If we invest time in a project, we should expect a return on the time spent. It’s a data driven process to help us make important decisions.

How does ROI factor into the families choosing a memorial?  Memorialization is typically an emotional decision, not driven by data. I would argue, however, that families can apply ROI to memorialization and that a memorial done well will have an infinite return. An investment in a memorial will pay back in ways that are not measureable in terms of dollars and cents. Psychologically speaking, memorialization is for the living. Memorialization helps families move forward beyond a difficult time and brings great comfort. It assures the living that a life will never be forgotten.

How do you put a price tag on that? The benefits of memorialization are worth any amount of investment and the return is immeasurable - infinite ROI. That’s something I can believe in. 

This article originally appeared in Modern Memorialization, Trigard Memorials' weekly electronic newsletter featuring information for the funeral industry. Sign up for your free subscription at http://www.trigard.com/thursdays.

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