Alex Tremlett, Operations Manager at Insight Data, shares his thoughts on how to respond to the State of the Industry report following this year’s Glazing Summit.
Throughout the pandemic, the home improvement boom helped prop up the glazing industry. However, appetites for improvements have since weakened as further issues disrupt our social, political and economic landscapes.
The impact of the cost-of-living crises, Russia-Ukraine war, and Brexit have all contributed towards the industry compressing. Since 2019, Insight Data have calculated an average of 38.4 companies leaving the industry per month. For most remaining companies, demand and volumes continue to decrease.
Many eager installers have picked up orders from those which have fallen away into dissolution and liquidation. Whilst these quick wins fill their orderbooks, it does not exempt them from the current market conditions. The absorption of these orders gloss over challenges facing the industry like a temporary pain relief. Both small lifestyle installers and large national companies will soon have to contend with the stagnation or decline of new orders that is already a reality for many.
To overcome this, the key is not to win the existing demand given by companies falling away, but to win new business. As such, fenestration companies are called to question how they can create a sustainable stream of lead generation and sales.
An immediate solution is found when utilising a data-centric approach. For businesses of all sizes, using data-driven analytics helps to pinpoint desired customer demographics and personalise marketing initiatives. For the companies who underscore their sales and marketing strategies with data, they are afforded more leads and increased client conversions – protecting them against the stagnation and decline of the industry.
But how? With the support of Insight Data, companies gain access to unprecedented trade and commercial market intelligence that allow them to source high-quality prospects.
Thanks to our fenestration database now holding contact information for over 21,000 decision makers within 13,649 fabricators and installers, access to crucial information is made readily available. Through our innovative technology tool Salestracker, users are supported with contact information, google map integration, document storage, credit profiling and an optional CRM tool to help manage leads and customer accounts – diminishing the threat of an empty orderbook during this challenging time.
Remember, temporary solutions often become permanent problems. If you are concerned that your order book lacks value and opportunity, put to use the power of data today. To win new business with the support of Insight Data’s databases and sales and marketing expertise, call 01934 808 293 or email email@example.com.