5 Mistakes oil and gas service companies make in their marketing
In the competitive world of oil and gas services, marketing plays a crucial role in business success. However, several companies in this sector often stumble in their marketing efforts. Here are five key mistakes they make and how to avoid them. (Number 1 and 5 are the biggest mistakes I see.)
Lack of a Defined Strategy: Many oil and gas service companies jump into marketing without a clear plan. They are unsure about where to focus their efforts and budget to achieve a good return on investment. Should you focus on SEO? Mailers? The website? Email marketing? Trust me I know how overwhelming it can be. That’s why it's vital to have a strategy in place, One that outlines specific goals, target audience, and the best channels to reach them. There are some great resources out there for this. One I recommend to my DIY clients is The 1-Page Marketing Plan by Allan Dib. This book is great for building a solid marketing foundation.
No Sales Funnel: A surprising number of service companies put all their eggs in one basket. That basket is the sales department. Why? “That’s what we’ve always done.” We all know that’s a terrible mindset for growth. A proper sales funnel will bring sales while your sales staff sleeps. They need a break from playing golf anyways. I recommend my clients use an email sales funnel. Statistics show that email marketing can produce up to $42 for every dollar spent, it's a highly effective tool that shouldn't be ignored. Marketing Made Simple is a great book for learning the basics of a sales funnel.
Not Defining the Customer Precisely: Understanding your customer is key. Many companies fail to define their target customer in detail, leading to generic marketing efforts that don't resonate with any specific audience. A detailed customer profile helps in creating more focused and effective marketing messages. This can completely change the way you sell to your customer. Most service companies are in the race to the bottom on price. The second cheapest is the biggest loser. Knowing what your customer is looking for outside of pricing and creating a marketing plan around that is a game changer. To help my clients with this we do a detailed customer archetype guide and persona. I want my clients to know their customer down to a psychological level. The Hero and the Outlaw is a good resources for this.
Neglecting External Consultation: Sticking to an internal perspective can limit a company's marketing potency. Bringing in a third-party consultant can provide fresh insights and strategies that are not influenced by the company's internal culture. The best marketers are the ones who can channel what it’s like to be your customer. This isn’t easy for those who are submerged in the same think tank. If you need an outside voice, book a discovery call with me.
Making Themselves the Hero: The most common mistake I see is service companies positioning themselves as the hero of the story. Go to any oil and gas service company website and all they talk about is themselves and why they’re worthy of their clients business. This comes across as insecure and needy. The best websites have a messaging framework behind them that make their customer feel like the hero. This is attracts more attention, keeps the attention and sets up sales meetings for success. When working on any of my clients messaging we position the company as the guide and the customer as the hero. There’s a lot more to it but the lack of a messaging strategy can cost you millions of dollars in business. The best resource for this is Building a StoryBrand by Donald Miller. The strategy in this book is so good that I dropped a 5 figure check on the certification just so I could teach it.
If you can implement what I’ve laid out here you’re going to have:
A competitive advantage in your market
A higher lead rate
A more compelling reason for your client to do business with you
A sales machine that makes moves for you while you sleep
Don’t want to do this on your own or need someone to help your marketing team? Book a discovery call with me. I’d love to help.
“It’s been a fantastic experience collaborating with Rick. His expertise in Marketing really shines through. He attentively listens to our requirements and provides valuable insights, even pushing us to rethink certain aspects when necessary. His responsiveness and adherence to deadlines have been impeccable. I highly recommend him and would definitely hire him again.”