OKGlobal | Marketing Strategy 101

Developing a proper business development and marketing plan for oil and gas company is a key component to reach defined sales goals successfully.
When you’re creating a business development and marketing strategy you need to consider factors that differentiate your industry from others. Here are a few key points to keep in mind while developing your strategy or plan:
RELATIONSHIPS AND NETWORKING ARE THE KEYS TO SUCCESS.
This industry was built on relationships. You need to know the ins and outs and the people behind it to get your company ahead.
CONSIDER THE MARKET VOLATILITY.
Diversification is key to stay afloat during the ups and downs of our industry. Be prepared to face the challenge and reach different market segments when needed to ensure continued growth. Have a contingency fund to turn each challenge into an opportunity.
FOCUS ON GEOGRAPHIC LIMITATION.
Keep in mind the wants and needs of customers located in different plays. Different product characteristics, availability of service centers, and warehouses in a specific basin may impact the decision to work with your company
THE INDUSTRY IS HIGH-RISK, HIGH RETURN.
You need to believe that you’re the type of person that can achieve results. Foreseeing the next steps and strategically preparing for action will impact your bottom-line.
PEOPLE IN THE INDUSTRY LIKE TO INTERACT WITH PHYSICAL OBJECTS.
A connection, reference, or proper message can help you get through the door to the desired lead, but you better show that lead a real product or a prototype during the presentation. It will stay with them and will remind them about your product and company. Be prepared to make that lasting impression and remain in their mind and office.
PEOPLE IN THE INDUSTRY LIKE TO HAVE FUN.
By properly organizing happy hours, hunting, golf, pool, baseball, and soccer games and inviting your preferred accounts, strategic partners and more, you can ensure that the deals will move faster.
THE POOL OF CLIENTS IS LIMITED.
Your reputation and relationships are crucial in the oil and gas industry. The equipment may fail but you cannot. You need to be responsive, accessible, and always ready to be on the customer’s side to solve their problems.
CONSIDER MACROECONOMIC FACTORS.
Sanctions, tariffs, new regulations, and laws impact the industry in many ways. You need to stay informed, and OKGlobal can keep you up to date.
ACCESS TO A QUALIFIED WORKFORCE.
It’s getting harder and harder to attract the skilled personnel due to the high chance of getting fired during the next downturn. Millennials are very skeptical about getting involved with the oil and gas industry. Let us help you to attract the desired workforce needed for the efficient operations of your business.
GET LISTED IN APPROVED VENDORS LISTS OF MAJOR CORPORATIONS.
OKGlobal’s knowledge, skills, and abilities can assist you in getting listed and approved.
CERTIFICATION REQUIREMENTS KEEP YOU COMPETITIVE.
To do business with your company, many customers require different certifications and licenses such as ISO, API, and ASNT. Make sure you highlight such advantages when marketing your company.
STAY AHEAD OF THE CHANGES IN INDUSTRY-SPECIFIC REGULATIONS.
Industry regulation bodies impose stricter requirements for the testing and quality control procedures. Acquisition or outsourcing of new types of hardness testing, gauges, and more may significantly impact the bottom line - so you better be ready. You need to react quickly and modify the production processes to survive during the oil price drop and have access to capital.
BUILD RELATIONSHIPS WITH INDUSTRY ORGANIZATIONS
Become an active member of the industry organizations that are serving and supporting your market niche. This will give you an advantage over others by being in a circle and knowing what to expect.
IF YOUR COMPANY IS:
An established business who wants to define its position in the market and build awareness around its values
A growing company who wants to enter a new market or increase its market share
A Start-Up company who wants to educate the market about its offering, run pilot projects, or be introduced to the decision makers.
www.okglobal.us/strategy/