By Corey Mann
A Year in Review: Windows and Doors Replacement in 2022
It’s been a year to remember for windows and doors replacement companies in 2022. Overall, the market has continued to grow, and revenues have reached new highs. Demand for new windows and doors is also growing. More Americans are renovating their current homes instead of moving due to high mortgage rates and inflation. Let’s take a closer look at the key takeaways for windows and doors replacement companies over the past year.
Biggest Trends for Windows and Doors Replacement in 2022
The windows and doors sector of the home improvement industry is booming. According to IBIS World, the market size measured by revenue is $6.5 billion for window installation alone. In fact, the same report notes that the market size has grown by 2.8% per year on average from 2017-2022.
It’s clear there’s a growing demand for new windows and doors from homeowners. There’s also a push for more energy efficient windows to save money on electric bills.
This is all great news for your business. And we’re seeing new trends within the industry that are helping window companies close more deals and build trust within their service areas. Specifically, the top five key takeaways for windows and doors replacement companies in 2022 are:
Sales is the name of the game. However, customers want a modernized experience with a company they can trust. That’s why the current trends show a focus on new technology and software that is bridging the gap between the business and its customer base. Let’s dig into each of these takeaways a little further.
A Shift to Estimating Software
Business operations became more efficient and effective for windows and doors replacement companies in 2022. And a lot of these improvements were due to an industry-wide transition to sales automation.
New software is being implemented across the country to streamline the entire sales process. For instance, you can now complete an inspection, create an estimate, present pricing options, and sign contracts in one easy-to-use application.
Paper materials and contracts have caused problems for sales reps over the years. It was common for reps to make pricing errors that cut into profit margins. Even unintelligible handwriting often leads to errors that cost companies time and money.
Now you can eliminate these errors by implementing estimating and sales software into your business. With Leap, the entire sales journey is organized and at your disposal. All your customer information is in one place, including home measurements, product selections, contracts, and the work timeline.
You can also track your daily schedule of tasks and create alerts to check-in with current jobs. In general, you can take back control of your operations and create a repeatable sales process.
Pricing Packages Resonate with Homeowners
The more options, the better. Homeowners are more likely to work with you if you give them tiered pricing packages. Windows and doors replacement companies are now implementing the “good-better-best” strategy to sell more jobs.
Good-better-best pricing helps you differentiate your products based on the value each brings to a homeowner. This tiered strategy includes three options at gradually increasing prices. You have a “good” option, a “better” option, and the “best” option.
With this approach, you are putting the power into the hands of the homeowner for them to determine value. Each customer can now decide which product is the best fit for their home and budget. This helps build connections with customers and book more jobs for your business.
Instant Financing to Close More Deals
Windows and doors replacement can be very expensive. That’s no secret. According to Florida Window & Door, 80% of their customers require some form of financing to complete a project!
Instant financing provides more affordable options for homeowners. And growth-minded business owners will implement financing and tie it into their sales strategy.
With Leap, you can build financing directly into your estimates for customers to consider. Now your sales reps can start discussing monthly payments and promotional-based options with homeowners.
Make Your Sales Training Easier
The modern homeowner wants to be informed and confident in your company. That’s why sales training became a major focus for windows and doors replacement in 2022.
Your sales reps need to build trust with customers and have a complete understanding of your products and services. You don’t want your reps going into a home unprepared and uninformed.
This is another reason why software integration is so valuable. With a repeatable sales process and clear pricing, you can easily onboard new hires. You don’t have to spend weeks training new employees. Instead, you can plug them directly into the software, easily demonstrate how it works, and start scheduling appointments in no time.
Signs of Impressive Industry Growth
According to the IBIS World report mentioned above, the industry is growing at an impressive rate. As a matter of fact, it’s growing faster than many high-profile services, including specialist engineering, infrastructure, and the contractor’s sector.
The report also notes that a lot of this growth is due to a rise in disposable household income. Private spending on home improvements is increasing. Renovations, remodels, and everything in-between has become a more likely choice over buying a new home due to the current economy.
Building Towards a Better 2023
With 2022 behind us, it’s time to turn our focus to the future. Yet, the current trends can tell you a lot about the industry and how you can improve your business.
If you’re ready to go digital and automate your sales, look no further than Leap’s point-of-sale software. At Leap, our team of experts understands the home improvement industry. And better yet, we have a network of partners that are industry leaders in their own right. This includes technology that complements Leap software, such as measurement tools, CRMs, marketing, financing, and manufacturers.
To learn how Leap can help your business thrive, fill out the form below and schedule a 15-minute demo with one of our experts. Windows and doors replacement trends in 2022 suggest we are heading towards another successful year for the industry in 2023.