"As I look back at the 2018 year for Renoworks, I’m grateful for the many conversations I had with our clients who see the coming changes in our industry."
The remodeling industry is strong at the moment, and there are signs that it will remain strong in 2019. But there are signs of slowdown for sales of existing homes and the boost to remodeling behavior that they generate. And there may even be indications of a looming bear market that could affect the new home construction and remodeling industry more broadly.
In times like these, it’s important for all of us to innovate while the market is steady, so we can be well-prepared for whatever the future might bring.
The clients I spoke with in 2018 recognize that this is not just a period of relative market stability – It’s an era of transformative change in the industry prompted by the rapid pace of technological innovation. It’s an opportunity to innovate and discover new ways to reach our customers and build brand affinity.
I am continually grateful to work with companies that appreciate this fact and continue to seek answers about how they can drive more innovation within their organizations. For most building material companies, the first wave of this innovation trend appears to be an increased focus in investing more into their website and digital presence going forward.
2018 produced some of the best innovative solutions in the market we’ve seen to date. We’re proud to have played a significant part in bringing some of those experiences to light.
Our clients are engaged with our new visualization platform. Together with our Design Services group, we’ve helped clients provide over 800,000 custom visualization projects to homeowners across North America, and our platform drove almost 16 million building product interactions.
Most impressively, Renoworks impacted over 1.8 million users with visualization experiences in 2018 – an over 37% increase since 2017.
These numbers make us extremely proud and demonstrate that we are fulfilling our mission to make new home construction and remodeling decisions easier for homeowners.
However, our phenomenal success in the past year would not be possible without the hard work and dedication of our employees. They are the core reason for our success and I deeply value the commitment and contributions of each and every one of them.
At Renoworks, one of the cultural values we instill into our employees is to “work like a farmer.”
To those that don’t know any farmers, they might assume this means to work hard, for long hours. But that could not be further from the truth.
Farmers work hard. But they also build with purpose, act with character, and adapt quickly to changing circumstances. Most importantly, farmers give more than is expected of them, without being asked. They are pillars of the community and adopt the burden of responsibility to feed and nurture that community – willingly.
These virtues of the farmer are ingrained into us. They’re in our DNA. And we carry them over to our valued relationships with clients. We know we’re far from perfect and we are actively working on addressing areas where we could be providing more value. But looking into 2019, we will continue to deliver innovation on a new scale while striving to improve our clients’ platform experience with new features and valuable insights.
Last year, we made several key advancements to our platform: We improved our analytics capability to provide valuable data insights to our clients about homeowner behavior; we built integrations to closely tie in with our clients’ businesses and extend their marketing arm; and we continue to improve our platform by incorporating partners into our mix like Geomni.
We have never had a more robust line-up of products and services in our development pipeline and we look forward to continued success with our clients and partners.
Having said that, our success is not an entitlement. It is something we earn by continually proving our value to our client’s and helping them solve their problems. This has been our philosophy during the past 20 years of developing visualization software for the new home construction and remodeling industry and I look forward to carrying on that philosophy with our team, our valued clients and our partners for years to come.
CEO, Renoworks Software Inc.