Profitable Niche Markets

Selling to Oil Field Pumping Equipment Businesses

Many oil field pumping equipment businesses present possibilities for B2B businesses to earn profits. To succeed in the oil field pumping equipment business industry, you'll need to closely adhere to a handful of sales fundamentals.

In recent years, oil field pumping equipment businesses have become high value targets in the B2B sector.

In any B2B industry, one of the major factors in long-term success is the ability to expand your customer base. Fortunately oil field pumping equipment businesses can be found throughout the nation, but the trick is to acquire and retain new accounts.

Industry Experience

In oil field pumping equipment business sales, industry experience is a huge plus. Although it isn't necessary to have decades of front line experience, it helps to speak the industry language and to understand the pressure points of a typical oil field pumping equipment business.

B2B sellers who lack industry experience can compensate for inexperience by subscribing to trade journals, partnering with industry insiders and immersing themselves in the industry culture. Remember, oil field pumping equipment businesses may also be more friendly to sellers within their network, so it's important to increase the size of your network as quickly as possible.

How to Evaluate Sales Staff

Regular sales force reviews are necessary 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 suffice 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 field pumping equipment businesses.

Effective Marketing Strategies

Effective sales strategies begin with marketing, and the marketing strategies for oil field pumping equipment businesses are as diverse as they come.

Yet in this industry, marketing effectiveness is rooted in the ability to target key decision makers. From traditional marketing to cutting-edge Internet strategies, any initiative that fails to reach decision makers is a waste of time and resources.

In this high stakes game, you can't afford to rely on stale or inaccurate sales leads. Third-party lead lists may be the best bet for making sure your team is equipped with the most up-to-date information possible. If you are new to the lead list market, you may want to consider Experian -- a third-party lead list vendor with a reputation for providing regularly updated and sorted oil field pumping equipment business leads.

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