As the industry plans for recovery, Insight Data’s Jade Greenhow explains how market intelligence can help companies make faster, better decisions.
The Coronavirus crisis has thrown the UK into economic meltdown and as the glazing industry turns to recovery, the entire supply chain will be counting the cost of the lock-down.
Sadly, not all companies will survive this turbulent time, even with government support. Indeed, our recent analysis of 9,075 fabricators and installers showed a staggering 1038 companies with poor or very poor credit rating – and that was before the Coronavirus struck.
It is likely to take months (maybe longer) for the market to rebound fully and some of your existing trade customers may see a drop in volume, so suppliers may need to review their strategy to regain revenue levels and minimise risk.
Having a clear view of the market can help suppliers assess potential opportunities, pin-point new revenue streams and monitor customers and competitors – and be in a position to move quickly when it is the right time.
Insight Data’s online database, Salestracker, provides the industry with in-depth market intelligence on over 14,000 fabricators, installers and trade-counters. This includes information such as products, suppliers, volumes and whether they manufacture, install or distribute, as well as financial data such as credit rating and net worth.
It enables marketing and sales teams to instantly access and filter data using dozens of options and target new customers in a much faster and more efficient way, using the direct contact information provided. This saves time and money, and avoids chasing customers who have moved, gone bust or pose a high credit risk.
The system is cloud-based and users can access it from home, office or on-the-go. Behind the scenes a team of researchers continuously update and validate information, while a number of external data feeds enrich the information.
Optional features enable users to maximise their time and results. This includes a CRM module designed specifically for the industry so that busy sales and marketing teams can keep track of leads and prospects. Users can create and send email campaigns from within the system and follow-up leads with a telesales feature.
As a full remote-working platform, Salestracker has built-in document storage ideal for quotes and proposals so that users can access key information at any time.
Opportunities to diversify
For some companies, spreading the risk across sectors may be a better option, or chasing larger volume orders may be a more attractive proposition.
Insight Data gives suppliers the opportunity to connect with thousands of new customers across the building industry.
Over 22,000 local builders are refurbishing properties, building extensions, or constructing exclusive new-build properties and they are buying materials from builders merchants, trade-counters or directly from fabricators.
Meanwhile, larger house-builders, main-contractors and national maintenance contractors are working on larger-scale projects. Indeed, according to the trade body ‘Builders Conference’ £8 billion of projects were awarded in March and £9.7 billion in April despite the Coronavirus pandemic.
Insight Data provides the key business information to help companies contact decision makers directly across the building industry, while the Insight architect’s database allows companies to provide technical data and product information to architects and specifiers via the Insight architects database.
Builders Merchants are another route to drive product sales through the construction supply chain and Insight provides detailed information on both national chains and local independent merchants.
In fact, the Insight database gives users access to over 60,000 trade and commercial customers with 88,000 named decision makers.
Your New Game Plan
As business leaders move to recover revenue streams as quickly as possible there will inevitably be winners and losers.
Insight Data gives you the in-depth information and technology to make informed decisions, minimise credit risks and help you fight back and protect your business. In short, it is a complete game-plan ready to go.
There’s no question that the next few months are going to be challenging for every sector of the economy, not just fenestration, but taking a pro-active approach and partnering with Insight Data could help you successfully navigate these unchartered waters.
Interested in learning more? Call 01934 808293 or via email at firstname.lastname@example.org..