OilService Marketing Trends
Over the past year, providers of oilfield services, products and technology have had to adapt to the new realities of the market. Those most able to adapt are those most able to survive and even thrive. In this piece, we highlight four emerging trends leading OilService providers are taking to strengthen their brands and improve the marketing mix, shortening the time between awareness to purchase order action.
Pay for performance. Diamond Offshore Inc. (ticker: DO; DiamondOffshore.com) and GE Oil & Gas (ticker: GE;GEoilandgas.com) have announced a new breed of oil service contract for blowout prevention offshore drilling that will be performance based, a first-of-its-kind for offshore OilService companies. Diamond Offshore will buy eight blowout preventers from GE for approximately $26.25 million. In a joint press release, the companies announced that the deal includes GE’s first-of-its-kind Pressure Control by the Hour™ model, in which Diamond Offshore will compensate GE Oil & Gas only when the BOP is available. Get the full story.
Indirect channels. Some products companies tied to the drill bit are expanding beyond the direct sales model. Superior Drilling Products (ticker: SDPI; SuperiorDrillingProducts.com), for example, recently announced it will supply Baker Hughes with its Strider Drill String Oscillation System. Indirect channels help companies fill gaps in their solutions and quickly provides suppliers an expanded market with a single point of contact. The company described the supply agreement in a press release and held a conference call.
Build awareness and differentiate. Transworld Technologies, a private company headquartered in Golden, Colorado, offering proprietary BioEnhanced Oil Recovery technology solutions, recently announced it was presenting a technical white paper at the 2016 Pan American Mature Fields Congress in Veracruz, Mexico. Roland DeBruyn, Vice President Engineering and Implementation, is scheduled to present the findings at the conference and demonstrate how the company’s BioEnhanced enhanced oil recovery (EOR) solution represents an advancement in microbial EOR. The company promoted the research via a white paper promotion campaign on Oil & Gas 360® to a targeted, energy-centric audience. The white paper promotion generated hundreds of new leads and several inbound inquiries. Get the full story.
Content marketing. Digital marketing is an effective tool for building awareness and driving action to increase revenue. The most effective digital marketing is based on compelling content that buyers want to consume. FEI, a provider of technology solutions to the oil and gas industry, sponsored a video Special Report Whiting’s Wildcatters: Micro Scale, Macro Vision, which was created by EnerCom and distributed on Oil & Gas 360®. This rich content marketing piece generated hundreds of new leads for FEI, and strongly associated their brand with an operator known for its innovation and use of technology. Get the full story.
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