Businesses are going bust, prices of everyday commodities are rising and companies are about to hastily welcome a 6% rise in corporation tax, and with a 3rd Prime Minister in as many months, times remain uncertain.
There is no doubt this has been reflected in the construction and fenestration industry, with 13,736 window, door and conservatory companies across the UK. This is 204 less than at the same point in 2021, a 1.4% decrease.
The rise in tax is also compiled by the scheduled hike in interest rates, with repaying loans likely to become a tough ask for many. This has prompted a worrying response, with the UK’s manufacturing output having recorded a huge fall since May.
The manufacturing PMI – which records the performance of the sector – has seen new orders drop the most in two-and-a-half years, with new export business decreasing for the ninth month running on the back of weaker domestic and external demand.
Business leaders and decision-makers are having to re-evaluate plans within the current environment, meaning it’s more important than ever for them to have a strong and reliable sales and marketing strategy.
A drop in demand
A pre-Glazing Summit industry survey conducted by Insight Data asked installers across the country how enquiry levels faired compared to the same month in 2021. The results show that demand across the glass and glazing sector has dropped off significantly over the past 12 months, when the market experienced a ‘boom’ following the removal of Covid measures.
How are enquiry levels now compared to pre-pandemic levels?
The feedback from across the industry shows a large dip in the number of businesses experiencing higher demand than before the pandemic, showing perhaps how the cost-of-living crisis is affecting consumers across the nation. Rising mortgage rates along with the price of fuel has perhaps put a cap on the number of renovations and upgrades deemed affordable by the public.
Alongside this, 27% of installers have reported some degree of a decrease in enquiry levels, which further reflects the idea that the UK may be heading into a recession.
The data carries a daunting but helpful message, businesses must ensure they have an accurate and concise marketing plan or fall to a sorry fate.
Pinpoint high-quality prospects during these challenging times
Insight Data’s specialist Salestracker platform is the world’s first fully-integrated sales and marketing platform, designed exclusively for the building and fenestration industry.
With an inbuilt CRM and email marketing platform, the real secret lies within the real-time prospect data. With a fenestration database that includes over 20,500 carefully researched contacts, finding your ideal customers has never been easier.
A range of details including profile system, credit score and personal email addresses are also available to view, with a comprehensive roundup of details all collected by a team of dedicated researchers.
Making over 20,000 calls a month, the research team frequently update the five Salestracker databases, with over 50,000 records in total.
The platform paves the way for a clearer view of the market, improving clarity and perspective on a whole industry through its unique database of information.
To learn more about Salestracker please click here.
