Americans consume, produce and supply massive amounts of oil and gas. Due to the country’s world-class innovations and growing consumer demand, it’s no wonder other countries consider the United States a leader in the $6 trillion global energy market.
Statistics bear out the United State's heavy dependence on the oil and gas industry. In 2015 alone, consumption reached 19.4 million barrels per day. Each barrel is made up of 42 gallons, which means that consumers use 814,800,000 gallons in 24 hours.
Obviously, surviving without oil and gas products is not a conceivable option for the United States.
All Things Tech and All Things Oil and Gas
Due to persistent and ever-growing demand in the oil and gas industry, experts and market onlookers once wondered if the need for digital technology would ever reach the oilfield. In 2015, Microsoft and Accenture conducted a survey of 229 professionals to better understand the oil and gas industry’s take on technology trends.
The numbers painted a better picture. Results showed that 91% of oil and gas companies saw the value of investing in technology. The inconsistency of crude oil prices did not stop companies from looking into digital marketing and understanding its benefits for their business.
Digital Marketing in the Oil and Gas Industry
Initially, the ideas of oil and gas and digital marketing don't mix, especially for strangers to either field. How can search engine optimization (SEO) or lead generation make sense in such a depressed market? But industry players are beginning to realize that this combination of oil and gas digital marketing, in fact, makes perfect sense.
One of the biggest benefits for the industry of tapping into all things digital is better operational efficiency. Oil and gas companies depend on technology to improve infrastructure, mobility and collaboration. Aside from the need to take their tools to the next level, these businesses also realize the need for better marketing.
After all, customers matter – and with the help of a good marketing strategy, boosting sales can be easier.
Some oil and gas companies have announced plans to incorporate digital marketing tools into their strategies over the next three to five years. Amid the myriad digital marketing trends out there, finding the right approach is a challenge.
Here are some obvious digital marketing trends the oilfield needs to consider.
One of the biggest benefits of digital marketing is the amount of data available about your customers. Digital channels provide a gold mine of insight on how visitors find your website, how they get there, the type of social media posts they share and the emails they read.
Combining this information with previous customer purchase information and demographics results in refined marketing campaigns using audience marketing— a strategy that focuses on customizing marketing efforts according to the target market’s characteristics.
Turning data into qualified leads requires a hefty amount of analytics. For example:
- Website analytics reveal the search terms people use to visit your site and the amount of time they spend on each page. Google Analytics generates weekly reports that get delivered directly to your inbox.
- Email service providers can also offer data that reveals which users are most likely to open your messages, the offers they respond to, and the links they click.
- Most clients (yes, even oil and gas clients) live on social media right now. The platforms offer better insight on their preferences, locations and most popular posts. Monitoring platforms (with tools like TweetReach and Hootsuite) help analyze audience trends as well.
Most online users are fascinated with videos, which are easily accessible on social platforms. A video also serves as a powerful tool that is capable of changing audiences' perceptions.
High-profile accidents like the Deepwater Horizon oil spill in 2010 have contributed to an overall negative reputation for the oil and gas industry. Informative and educational videos play a vital role in changing customer perceptions. Videos can paint the industry in a positive light while distributing information across communities.
Even with search engine marketing and social media, email remains one of the most important marketing tools energy companies can invest in. Valuable and relevant content regularly delivered through email is one of the most effective ways for B2B companies to care for customers and invite new ones to the fold.
Today’s customers are not big fans of what the company has to offer; instead, they are after information, entertaining content and plenty of choices. For companies to reel in more clients, creating quality content linked to a “call to action” is the best bet. Email marketing encourages potential customers to learn and interact more with the business.
Online social collaboration between partners in a venture is a big perk for oil and gas businesses. Apart from being able to share risks and expertise, it also offers a competitive marketing advantage. Social collaboration marketing re-aligns the company from within, which serves to amplify its message — this is one of the biggest keys to marketing success.
Also, social collaboration solutions focus on managing client expectations in terms of a project’s progress. Through a private and shared space between the client and the business, the latter keeps the former informed with pertinent details, specifications and other issues.
Digital Trends in the Oil and Gas Industry
Digital marketing is not just advantageous for big businesses; small to medium oil and gas companies can benefit from analytics, data and social media statistics. Investing in, understanding and organizing information with digital marketing techniques helps businesses reach audiences whenever, wherever. Not only do these marketing strategies attract and invite more people, they also enable businesses to make more informed decisions.
Lead generation, SEO and other digital marketing efforts add value to businesses while improving workforce productivity at reduced costs.
Not all oilfield companies have climbed on the digital bandwagon, but as the public’s dependence on the internet grows, it will be necessary to survive and stand out in a highly competitive market. Don’t miss out on this opportunity, and don’t allow your marketing efforts to dry up – let digital marketing work for you!
Here at Lean Oilfield, we help companies dedicated to the oil and gas industry improve their online presence and stay on top of digital oil field trends with our lean marketing solutions. We focus on using tactics that will effectively generate the qualified leads your company deserves.