What Is The Market Like?
The way the economy is currently, people are looking to save money where they can. This being said, if cost saving can be coupled in with the environment – then all the better.
There are many areas of renewable energy available:
- Solar Power
- Wind Power
- Geothermal Power
- Hydrogen Power (cars)
- Tidal Power
Many people are looking into the benefits of having their own ‘power plant’ and not having to pay for their energy (whether this would be heating their water at home, creating electricity for their houses etc.) and even in selling surplus energy back to the grid.
The Problem Currently
The fact that the market is ripe for taking on renewable energy is great; however the race is now on to get the business. There are lots of companies now offering solar energy cells, wind turbines and the competition is growing as the market is growing (both industrially and domestically).
Big businesses are looking into cost savings, and getting them signed up to solar/wind power could mean big profits for renewable energy companies. Domestic houses are open to taking on solar energy cells as a way of reducing their energy costs and also in a way to help the environment.
There are a variety of marketing tools available to renewable energy companies, some are expensive and some are very cost efficient.
Advertising on TV is probably the best and most effective form of marketing for any business (whether B2B or B2C) but can be quite an expensive route.
Everyone that companies are targeting, will watch TV at some point during the day, so timing when adverts appear is a crucial point to getting the best exposure and chance for your message to be heard.
PR is a great form of marketing as it is very targeted and very cost effective. As Bill Gates said ‘if I was down to my last dollar, I would spend it on PR’ and there are many businesses that can relate to that. A well positioned PR campaign can do wonders for visibility
Although telemarketing and cold calling is a very effective form of marketing; this type of calling would involve calling people up at home – which is always going to be difficult. No-one likes getting calls at home out of the blue – however it does work.
Mainstream advertising is very effective and would incorporate a range of activities (billboard advertising, radio, social media) but again could be quite expensive.
Around the country there are thousands of marketing companies of all shapes and sizes that can offer advice and help; however it is advised to talk to a marketing company that knows about renewable energy marketing. They will have a good grasp of your products and services before hand (so there is no learning curve) but also they should have a good feel for how to position your company among the competition and create the best marketing springboard for you to get the best return on investment.