Profitable Niche Markets
Selling to Oil Brokerages
The landscape of oil brokerages is fertile soil for ramping up sales. This is the approach that will help you get started selling to this market.
In recent years, oil brokerages have become high value targets in the B2B sector.
For B2B professionals that sell to these companies, the industry's positive growth outlook makes the solid execution of fundamental sales principles more important than ever.
How to Evaluate Sales Staff
Frequent employee evaluations are a must for companies that sell in this industry. Businesses that achieve significant market share hire quality candidates and routinely evaluate them against performance goals and benchmarks.
Although annual reviews may be acceptable for other business units, sales units should be evaluated quarterly with monthly or weekly reviews of sales totals. Training, coaching and sales incentives can be useful for improving performance and revenues. In some instances, it may be appropriate to team underperforming sales reps with reps that have more experience selling to oil brokerages.
Know Your Products
In reality, most oil brokerages aren't interested in middle of the road products. Before they commit to a purchase, they want to know everything there is to know about your product.
In this industry, a unique value proposition can be the deciding factor between a close and your prospect going with a competitor's product. It's imperative for your sales team to be knowledgeable and informed. If you're selling a service to oil brokerages, your sales force should understand granular details of the service contract and be prepared to resolve customer concerns during the sales cycle.
Marketing Tips
In a B2B environment, sales and marketing are connected business activities. To succeed in the oil brokerage industry, you'll need to gain a solid foothold with buyers. Leading sellers strategically utilize their resources to establish and maintain a strong industry presence. Cost is a factor, but any channel that can raise your visibility with prospects is worth considering.
Make sure you invest in a first-rate website. These days, oil brokerages frequently access vendors through online channels. An investment in an attractive and user-friendly website is a must.
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