‘Market uncertainty’, ‘rising competition’, ‘regulatory changes’, and ‘responding to pricing pressure’ remain the leading business concerns for the global power industry in 2013.
The average size of the global annual marketing budget for supplier companies in the power industry in 2012 was US$3.4 million, but this rose to US$3.7 million in 2013.
‘Online content sites’ was highlighted as a key investment area by 35% of supplier respondents, while 32% of respondents projected a strong investment growth in ‘social media and networking sites’ and ‘conferences and events’.
Overall, ‘competitor and market intelligence research’, ‘customer intelligence and analytics’, and ‘client acquisition solutions’ were identified as the marketing and sales solutions that most respondents expected to be invested in during 2013.
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