Insight Data, the specialist data supplier for the fenestration and building industry, has identified a number of new trends in its recent Fabricator and Installer Report, including a significant shift in suppliers diversifying into new markets.
With every company on the hunt for new business, many are turning their attentions to other sectors such as trade, commercial, new-build and trade counters in order to increase sales opportunities.
Sonia Punter, Insight Data’s sales manager, comments on why the philosophy ‘diversify or die’, is still very much alive within the window industry:
“The days of companies specialising in one particular sector of the market are numbered. Generating new business can be a difficult process, especially in a shrinking market, so companies need a way to attract a wider range of customers.”
But it’s not just the lure of new business that has seen so many companies diversify into other sectors, the need to spread risk during harsh market conditions is a primary goal for many, and having multiple distribution channels means companies are more likely to succeed should one of these markets depress.
Insight Data has developed a range of databases specifically to help suppliers target new markets. In the commercial sector, this includes the UK’s most comprehensive database of architects and main contractors. Meanwhile, the Insight House-builders database helps suppliers engage with decision makers at leading house-builders and property developers.
Another route to market is trade-counters or small builders, and the Insight builders database contains over 22,000 contacts with over 10,000 email addresses.
“Putting all your eggs in one basket is a risky strategy so having a presence in other sectors is a natural progression. Insight Data can help suppliers successfully grow in these sectors by engaging with the right contacts in the right organisations” adds Sonia.
The Insight architects, house-builders, main contractors and local builders databases are all available on Salestracker, so users gain access to the latest information live in real-time.