window and Door News
|6 min read
Today's homeowners are increasingly looking for products that fit into a "smart home" ecosystem. Products such as voice-controlled thermostats, robotic vacuums, and automated lighting systems offer convenience, security, and technological innovation that appeals to many Millennial and Gen-Z customers. Smart windows and doors fall into this category, too.
Earlier this month, Masonite Internation Corporation announced the arrival of its brand new “M-Pwr Smart Doors.” This product is truly one of the most advanced on the market. It’s the first–ever door to combine power, a smart lock, LED lights, and a Ring video doorbell into the actual hardware - creating a true single-door system.
The doors hardwire to your home’s existing electrical system and internet network. Plus, in the event of an emergency like a hurricane or power outage, the doors stay in an “always on” mode and use a built-in backup battery that can last for 24 hours.
Builders offering these doors will establish their position as leaders in the smart home space. Beyond that, they will solve major pain points for homeowners.
Home Depot and other major retailers have already signed on the stock the M-Pwr door when it ships later this year. Your company should check out these next-gen doors too.
Other Important Window and Door News
1) The 2023 Glass TEXpo Event Has Been Announced for May
As the window and door industry continues to be shaky as we begin the new year, there’s no better time to grow in your industry skills and education. You will have to work harder to fortify your position in a down economy.
One great educational opportunity is Glass TEXpo ‘23, which is coming to San Antonio on May 11th and 12th.
The event is co-sponsored by the Texas Glass Association, USGlass magazine, and the US Glass News Network. If you attend, you’ll get access to exciting opportunities to learn the latest industry trends, product innovations, and marketing strategies from the leaders in the industry.
It’s also a great chance to get involved, network with industry peers, and expand your business. You can sign up at glasstexpo.com or click the link in our show notes.
2) New Home Sales Are BEGINNING to Climb as Mortgage Rates Drop
2022 was a wild ride for the housing industry, and it directly impacted the window and door industry. Mortgage rates steadily increased until they reached their peak this last November at just above 7%.
However, since December 2022, rates have begun dropping and hovering around 6%. The result has triggered a slow but steady increase in new home sales.
Yes, the housing market is still shaky due to an unstable economy, supply chain issues, and increased construction costs. But there are positive signs for window and door pros.
As home sales continue to rise, homeowners will start investing in products to up their property’s sale values. We’ll see builders start increasing supplies for new construction projects too. We’ve discussed the economy a lot on this show, and we felt this latest forecast was worth covering to encourage you to “hang in there.”
Focus Story: The Glazing Industry Continues Facing Hiring Challenges in 2023
Glazing companies are facing several challenges in 2023. We discussed economic uncertainty and still-high construction costs. However, one more issue they must deal with is labor shortages.
According to the AGC—or the Associated General Contractors of America - roughly 72% of glazing businesses increased base pay rates to attract and keep existing staff in 2022. This was even higher in the South part of the United States, where 76% of companies increased base pay last year.
In the same survey, only 15% of companies predicted easier efforts to hire staff in 2023. While labor shortages have been a challenge for everyone in recent year, the glazing industry has had an especially tough time getting people into the trade since the pandemic.
Thomas Cornellier is the CEO of TSI Corp, a company that specializes in envelope glass systems, stated in a recent interview that,
“It’s tough to get younger people into the trades despite the great benefits that come with it and the skills that you learn.”
Debbie Baker is the director of human resources at Binswanger, an architectural glass & aluminum products retailer. She believes the key to finding and securing new talent will be to get people engaged and motivated by promising regular pay raises and sign-on bonuses.
The bottom line is that window and door companies must be proactive about attracting and developing talent. The trades are hurting, and kids often don’t even know about these jobs and their financial benefits.
Consider making appearances at career fairs at your local high schools and colleges. Run job listings on popular online hiring sites like Indeed. You have to get the word out and make your job openings attractive and, most importantly, a long-term investment for job seekers.
Growing Your Window and Door Business
1) Why You Should Add a CRM to your Tech Stack in 2023
As mentioned previously, the unstable economy and labor shortages make it challenging for window and door businesses to experience steady growth. A strong marketing plan is important for building awareness and attracting new customers.
Let’s face it - even if it’s less than last year, homes are still being built and upgraded. Window and door companies are still getting hired. You just have to figure out how to ensure you’re the window and door dealer getting the contract.
One of the best ways to get your business noticed is by using technology to boost your marketing efforts. One of the best digital tools you can invest in is a CRM, or customer relationship management platform.
A CRM is a software platform that collects, stores, and organizes customer data, allowing your team to easily track sales leads and manage customer relationships. It also helps you automate tasks such as follow-ups, order tracking, and other activities related to client management.
While we’re big fans of Hubspot here at GoRizen, there are multiple options to choose from. Our goal is to get you using a CRM because we really believe it can help your sales team and support staff get more organized, save more time, and, most importantly, generate more leads and revenue.
So take a moment to check out our two guides:
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