How Can I Improve Our Marketing
Marketing a Petroleum Products and Equipment Business
A profitable petroleum products and equipment business is about more than supply and demand. It's about designing ways to entice new customers to engage with your products and to encourage existing customers to increase the frequency of their purchases.
Strong and steady wins the race in marketing a petroleum products and equipment business. Industry leaders faithfully adhere to a set of foundational marketing principles.
Some marketing concepts are just common sense. Unfortunately, it's takes more than a basic business mindset to achieve total market visibility. You will also have to become a student of specific marketing strategies for a petroleum products and equipment business.
Bundling
Messaging matters - but only to the degree that it communicates value to cost-conscious consumers. For centuries, entrepreneurs have understood that bundled products reinforce buyers' value concerns while increasing their business's total revenue position. Most petroleum products and equipment businesses can use bundling to communicate value to their base. Will the profit margins be the same as they would be if you sold the bundled products separately? Probably not. But you'll make up for it by achieving higher sales volumes and net profits.
Public Relations Strategies
Public relations is more subtle, but no less powerful than a full-blown marketing push. If you want to send unrestricted marketing messages to your audience, buy a mailing list and perform a direct mail campaign. But if your strategy calls for sophistication, media buy-in and thought leadership, hire a PR consultant. The key to effective PR is to use nuanced messaging to attract the attention of reporters and media representatives. If reporters smell promotional content, they will back off from the story or create their own narrative.
Technological Expertise
To those of us who are familiar with today's marketing landscape, it's clear that technology and strategy have become inextricably linked. One of the things that needs to be considered by petroleum products and equipment businesses is the use of technological solutions to connect with customers, boost visibility and exploit weaknesses in the marketplace. Despite the initial cost associated with many technological solutions, the long-term payoff for the right technologies almost always outweighs the upfront expense.
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