Being the first to adopt a new technology can be a bit scary, but it also can pay off big time.
Don’t sit back and watch your competitors reap the benefits of a new technology while you’re left playing catch-up; be bold, be first, and reap the rewards.
If a business doesn’t evolve with the changing trends of their market, it stands to lose a lot. They will lose their reputation to competitors, and also can lose loyal employees and customers. The more forward-thinking your funeral home is, the easier it can adapt to changes — such as cremation becoming the new norm.
Here are some other benefits of being first:
Become the Talk of the Town
If your funeral home is the first in your town to adopt an innovative technology, there might be a lot of free press that comes along with it. The local paper might be interested in writing about how your funeral home is the first to offer a new service. By the time a competitor adopts it, it’s going to be yesterday’s news.
Free Up Time
New technology is about doing more with less. Adopting technology that can cut back on administrative tasks and filling out paperwork means you’ll have more time to focus on your client families and yourself.
The First, and the Best
Adopting new technology early shows your innovative side. But it also gives your funeral home time to experiment with the best ways to use and market a new technology. When other funeral homes start to adopt similar tech, you’ll be way ahead of them while they are still struggling with learning curves.
You’ll Be the “Voice” of Innovation
Once you’ve adopted a new technology, you get to be the thought leader on the topic. You can publish blog posts, hold seminars, and have unique advertising points over competitors. Thought leadership is key to standing out in a competitive funeral business. Developing thought leadership also establishes trust with families in your community by showcasing your expertise in the business.
Help Develop the New Technology
Being one of the first to adopt a new technology means you can have some input into what works best for your funeral home and ideas for future updates. Early adoption also means you can get a more personalized one-on-one training experience when your funeral home first implements it.
Overall Better Business Outcomes
A study by the Harvard Business Review found that early adoption of technology leads to an overall competitive business advantage. The study found that companies that pursue quick adoption of newer technologies enjoy a “first-mover advantage” over their competitors.
This first-mover advantage includes a growth in both revenue and market position. In a Verizon analysis of the Harvard Business Review report, Clare Ward wrote that the growth of early adopters, “is more than twice the growth experienced by companies identified as technology ‘Followers’ (those that watch and invest once benefits are proven) and three times the growth experienced by ‘Cautious’ technology adopters (those that wait until a technology is well-established).”
The benefits of early adoption can put your funeral home at the head of the pack. But how do you know which technology provider to go for? Here are three quick tips:
- Go with a provider that has good support in place. Most of the time, new technology means you’ll have questions. Make sure there is a personal support team to help you get answers.
- Go with a provider that’s always innovating. A new technology can quickly become obsolete if it’s not updated. You’ll want a provider that continues to invest in technology through new features, updates, and security patches.
- Go with a provider that has a reputation for caring. You want to make sure you’re investing in technology that helps make your job of providing care to client families easier.