If a family experiences an unexpected death, data shows that many families couldn’t afford the funeral without alternative payment options, like funeral crowdfunding.
Per the most recent Bankrate survey, only 39% of Americans could afford an unexpected expense of $1,000. That’s fewer than four in ten people! Not to mention that $1,000 isn’t even close to enough money to cover the funeral expenses.
To ensure everyone can plan the funeral that their loved one deserves, you can offer crowdfunding as a funeral payment option. Even better, you don’t have to just stop at the funeral payments! Families can use funeral crowdfunding to pay other expenses that come with a loved one’s death, as well.
Not only does funeral crowdfunding have many benefits for your client families, but it also benefits your funeral home. Let’s go over these benefits and some tips below!
Benefits of Funeral Crowdfunding for Your Families
Funeral crowdfunding has many benefits for your client families and community. While families receive financial support, their loved ones have a meaningful way to express their condolences.
Understandably, many people don’t know what to say or are afraid of saying the wrong thing when someone they love is coping with a loss. By donating to a crowdfunding campaign, they can support their loved one emotionally and financially. When grieving a loss, that community support can mean the world to families.
Below are a few other benefits for the families you serve. Feel free to share these with your families if they’re on the fence about crowdfunding!
With this payment option, families can:
- Raise money for the funeral if they’re tight on funds.
- Keep their emergency savings for other expenses that are bound to come up, such as replacing an appliance or buying a new vehicle.
- Raise funds for other expenses besides the funeral, such as a memorial fund, children’s college funds, medical expenses, bills, and other living expenses.
- Plan a funeral that meets and exceeds their loved one’s funeral wishes.
- Gain a sense of control in an uncontrollable situation.
- Get peace of mind that they have funds to properly honor their loved one.
Benefits of Funeral Crowdfunding for Your Funeral Home
In addition to helping your families plan meaningful funeral experiences, there are many other benefits for your funeral home. Most notably, it’s an additional service that you can offer your client families. With the extra revenue, you can reinvest in your funeral home. Check out this article for a few ideas!
Below are some other ways this payment option benefits your business, including:
- You don’t have to turn families away if they can’t afford the funeral expenses out of pocket.
- You can stand out among your competitors who don’t offer convenient funeral payment options.
- When families share the crowdfunding campaign on social media and other platforms, it’s also spreading the word about your funeral home and the services you offer.
Why Your Funeral Home Shouldn’t Use Third-Party Crowdfunding Tools
However, you shouldn’t just use any crowdfunding platform out there. Third-party crowdfunding sites hold your funeral home back, including by:
- Not being in control of the funds raised
- Losing website traffic
- Not being as convenient for families
Now, you may be wondering if we’re suggesting avoiding third-party tools, then what are you supposed to use? Don’t worry, we have a solution for you that will let your funeral home reach your full potential: Tribute Crowdfunding.
A Solution That Lives Directly on Your Funeral Home’s Website
Tribute Crowdfunding lives directly on your Frazer-powered website, so you remain in control of the funds raised. It’s one part of Tribute Pay, which also lets you offer credit card processing, electronic checks, financing, and life insurance assignments as funeral payment.
Below are a few ways that Tribute Crowdfunding works for you and your families:
- Since your funeral home is in control of the funds raised, you get paid right away.
- Your funeral home has control of the campaign start and end dates, as well as pausing the campaign if needed.
- Website traffic stays on your funeral home’s website since families can securely donate directly on their loved one’s Tribute Wall.
- Donating on their loved one’s Tribute Wall is more convenient for families since they don’t need to search around for it during an already stressful time.
- If you exceed the crowdfunding campaign goal, you can write the family a check for the excess amount.
Download our free funeral crowdfunding eBook to learn more about this payment option!
If you’re ready to learn more about Tribute Crowdfunding, schedule your free demo!