January is the right time for contractors to pay attention to developing their 2022 pipeline for new window and door projects. Here are some reasons why it’s time to start generating leads, and what steps to take now.
1. Consumer interest in home improvement projects rebounds sharply in January
Historically, the beginning of the new year brings a surge of homeowner interest for window and door work. Why? With family obligations and holiday travel driving attention from Thanksgiving through New Year’s, most homeowners do not have the bandwidth to think about and budget for home improvement. But after the holiday craze, New Year’s resolutions kick in, including replacing drafty windows and doors.
2. Booming values provide new equity that homeowners can tap into
Homeowners are well aware of the recent boom in home values, and many are ready to put that value back into improvements. Fortune reported that between August 2020 and August 2021, U.S. home prices rose 19.8 percent—the largest uptick on record. Although that makes things harder for first-time home buyers, the latest Modernize Home Services survey shows that 57 percent of window and door prospects have been in the same home for more than 10 years. With homeowners having more equity to borrow against, contractors should expect strong demand going into 2022.
3. Homeowners are adjusting expectations about “getting in line”
The pandemic has altered so many facets of our lives, including timelines and expectations. After years of becoming accustomed to near-instant gratification from companies like Amazon, consumers must now tolerate supply chain challenges.
If homeowners are hesitant to begin their projects because of the long lead times, reassure them that they should place their orders as soon as possible so contractors can secure their materials. Some contractors also find success by offering incentives for homeowners to be patient, such as extended warranties, a price freeze or rebates applicable to add-on services.
4. Stay ahead of your optimistic and aggressive competitors
Do not let your competitors go unchallenged in taking advantage of homeowner interest this January. An early look at research we’re currently running shows a large majority of contractors feel optimistic about their business outlook. Don’t let other contractors steal market share from you.
What you can do now
1. Nurture your late-2021 leads
While demand for new home improvement projects slows during the holidays, some homeowners did signal interest in beginning their projects as soon as possible. Homeowners who started exploring the improvement process just before or during the holidays are ideal prospects to start with in early 2022.
When homeowners make inquiries in December, it is easy for them to get distracted. Too often contractors drop those leads when there’s no immediate appointment or specific progress. A study from our partner Hatch showed that 15 percent of window replacement inquiries take longer than 30 days to close. Put those leads back in the oven and see what crisps up.
2. Use digital marketing to turn on lead flow quickly, affordably and easily
Whether it’s through your own purchase of Google search terms, locally oriented display ads, or leads from a service, digital marketing is one of the fastest ways to turn on your lead flow. Telesales take time to gear up, and door-knocking is especially tough to undertake in cold winter weather. Implementing a digital marketing strategy now while demand is high is a quick and scalable way to help you stay ahead of the competition.
So, start this year off strong, lean in and capture as much business as you can handle!