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For the past few years, it has been quite "doom and gloom" in regards to the oilfield down here in south Louisiana.
Most companies had to either downsize significantly, merge with larger companies, or shut their doors altogether.
So, what does that mean for most oilfield businesses?
Growth and Scaling!
But, as bright as the near future is looking, it can present a few problems for the "shellshocked" business owner or board, that now has to look to putting more money into a business that they so desperately protected for the past few years.
And for those that were only responsible for running their large companies before the downturn, scaling up can seem like quite a daunting task.
But, that's why we are here reading and learning together, right?
Below are a few of the suggested bases and tools that oilfield companies would be wise to look into in order to scale and grow their bottom line efficaciously.
Well, I am sure we can all agree that this isn't just an oilfield problem, but it is detrimental nonetheless.
It is the marketing and sales teams' greatest fear: they sell services that production and operations can't support.
What if too many customers call?
What if our staff isn't trained on answering the phone?
(Check out our article on Effective Telephone Communication Skills here!)
How do we make sure that the problem on the other end of the line gets handle by the right party?
That is where partnering with a professional answering service comes in awfully handy.
What is worse; the phone not ringing or an urgent matter not getting handled appropriately once the call is answered?
That's why choosing the right answering service is key for growth!
Back in the 90's, if you were on a billboard, you were going places.
I mean, how else were you going to market to the I-10 corridor.
If you wanted to be seen from Lafayette to Port Fourchon, you called up Lamar and placed your beautiful face on his billboards.
Is that the best way to reach your market today?
Besides, there are none left. McKernan and Bernard are arm wrestling for the last remaining few as we speak.
So, how do you get your message out to willing audiences?
You post your services where their attention is: on the internet.
Marketing has changed drastically in the past two years, let alone in the past decade.
Instead of continuing to throw money at the same ineffective marketing ploys, why not consult marketing experts to help target your ideal customer?
The oilfield is one of the most demanding fields there is and its workers are called "salty" for a reason.
You won't find these guys calling in with a stuffy nose or a fever.
But you know what most oilfield workers are not great at?
Hosting Servers and IT Infrastructure. (Here is the technology every oilfield manufacturing company needs in today's market.)
You will need more skills besides Outlook Email and Google Chrome.
Leave the software and network care to the experts. Don't try and wing something as important as your data and encryption, yourself.
There's only one thing worse than an inefficient process in your organization, and that is incompetent employees attempting to improve that process or investigate how to perform a new process effectively.
That's where hiring effective consultants comes in handy.
Whether you need to build out your office space, need better automation, or looking for financing advice, or are in desperate need of excellent engineering services, the ROI and time saved on hiring experts is much cheaper and less risky than thinking your existing people can "figure it out."
So, there you have it. If you are in the oilfield and find yourself in need of growth in order to keep up with demand, make sure you are using the right tools for the job.
Just because you don't have a drill doesn't mean that a hammer can get it done.
Be strategic and build a foundation so that your growing business can stably excel!