Global Information Inc. would like to present a new market research report, "Global Construction Supplier Industry Outlook Survey 2012-2013: Industry Dynamics, Market Trends and Opportunities, Marketing Spend and Sales Strategies in the Construction Industry" by Timetric.
Out of the survey respondents across the global construction industry, 44% are more optimistic about revenue growth for their company over the next 12 months than the previous 12 months. The main reasons for this optimism include the rising number of infrastructure construction projects, such as tunnel, warehouses and road constructions, as well as the growth in residential construction in several geographical regions.
Timetrics industry survey revealed that, on average, the marketing budgets of construction industry suppliers are expected to rise by 7% over the next 12 months, in comparison to the expected rise of 6.4% indentified in the 2011 construction industry survey. The construction equipment and material supplier companies marketing budgets are expected to increase by 7.9% in 2012, while the marketing budgets of other construction industry supplier companies are expected to increase by 6.1%. Overall, the average size of the annual marketing budget for global construction industry supplier companies increased from around US$1 million in 2011 to around US$3.0 million for 2012. However, 58% of respondents from the construction equipment and materials supplier companies spend less than US$250,000 on marketing and 21% spend between US$250,000 US$1 million.
The types of marketing that are expected to receive the largest proportion of future expenditure in 2012 are social media and networking sites, corporate and brand websites and email and newsletters. This indicates that marketers expect to allocate a higher proportion of their marketing budgets into new media such as email and newsletters, internet searches, webcasting and corporate or brand websites. A director-level respondent of a construction equipment and materials supplier company in North America comments: "Our company believes in maintaining a loyal customer base, and our interactive company website helps us to maintain this relationship." Market intelligence research and competitor intelligence research emerged as the two marketing and sales solutions that will receive the most investment in 2012. In contrast, marketing and sales solutions such as direct internet distribution systems and loyalty solutions are expected to register the least amount of investment in 2012
Customer retention, brand building or awareness and customer acquisition are the three leading marketing objectives for construction equipment and material supplier respondents. Market uncertainty is identified as the leading concern of the industry in section 5.1. During difficult economic circumstances, companies are keen to ensure they have undertaken all possible measures to maintain their existing customer base before implementing plans to acquire new customers. Of all respondents, 60% of other construction industry supplier respondents consider customer retention to be a very important marketing strategy, while only 41% consider customer acquisition to be very important
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