WorldWide Drilling Resource

The Asset of Effective Marketing Compiled by Caleb Whitaker, Associate Editor WorldWide Drilling Resource ® Marketing is always at the forefront of every business, but it can also be one of the least understood and most undervalued aspects of growing a busi- ness. Many times, circumstances arise where cutting cost is needed and ad- vertising seems to be the most logical place to start. While it may be good to cut costs, marketing might not be the best place to do it. More than anything, marketing is an investment which generates a financial return in terms of sales and customers. When fewer people are buying products and services, it’s easy to see only the money being spent on marketing and it seems natural to cut back on that important part of the investment in their company. However, a big budget isn’t needed to make an impact and move the busi- ness forward through advertising. Even in the worst of economic t imes, the drilling industry still purchases products and services. While customers might be more selective over which products or services to buy, businesses can have success if they a use a keen marketing prowess to effectively promote them- selves. When it comes to the marketing campaign itself, the message is almost always the hardest part to get right. Oftentimes, there simply is no message at all; instead, only a list of services and products are provided. People want to know what they are looking at when viewing an advertisement. If there is nothing being said, why should people listen? If used effectively, messages can be powerful tools. Keeping it simple is the key because an advertisement, by nature, should be short and clear- ly expressed . Complexity will add clut- ter and irrelevant noise, which will often just confuse people. It can sometimes be difficult for a business to look at what they have to offer and distill all the intricate parts down into one simple message, but it is an essential part to marketing effectively. Target ing the market wi l l al so increase advert ising success. It is important to be well informed of the lat- est industry trends and developments. If direct competition is a factor, keeping a file with competitive intelligence can be useful. Businesses should seek out new ways to talk about the products and services they offer and present a unique proposition, which should stand out from the competition. This will pique interest and aid in building the brand for the business. The goal is to keep things fresh so customers see progress and feel they’re working with a Effective Marketing cont’d on page 54. 40 FEBRUARY 2017 WorldWide Drilling Resource ®