8 Rules for Selling Oil in 2019
If you want to sell oil in 2019, you want to set yourself apart from your competition. You have a valuable product: get the most for it by following these rules for selling oil in 2019.
Use Big Data
You can't make any sort of strategy for selling oil until you have all the necessary information. In 2019, this is even more important, and thankfully, the rise of big data makes it possible to know a lot more than we ever did about products, sales, and competition. Make sure you consider all of the following as you set up how to analyze and use big data:
Size and scope of the sale
Cost to your business and the one you're selling to
Cost to their business if you don't fix their problem
Names of all the decision-making team and where they're located
Timeframe for the buying decision
Who your competition is
All your metrics from a current client or previous clients in similar situations
Steps in the buying process
Precisely which business unit you're dealing with if you're working with a larger company
Business First
It's not about the oil. It's about what the oil does for the business. Instead of talking about what your product is like, figure out how your product solves the customer's pain point. Align your sale to the larger business issue at hand and make sure you're discussing the business side of the case, where all the actual buying decisions are usually done.
Stay in Charge
Don't wait for companies to come to you. Instead, go hunting for problems that you can solve. You might be able to offer just the thing in terms of price, logistics of delivery, size of delivery, quality of the oil, or any other issues. Keep everyone focused on the problem at hand and the solution you're offering and don't let anyone get sidetracked.
Consult, Don't Sell
People hate salesmen; they love consultants. The worst kind of salesman doesn't really understand a client's business, or even care beyond signing the deal. If you want to do business, it pays to take time to get to know those you work with. Understand their needs and how they make money, and then get a grasp of their challenges, KPIs, and general business culture. If you lead with detailed information about the company, you have a better chance of getting a foot in the door and building a solid relationship.
Talk Upwards
Every company has an organizational chart, but not every organizational chart is equally helpful in communicating the true power structure in an oil and gas company. Sometimes the person who seems highest in the buying side of things is actually quite low on the totem pole. Sometimes, someone in another country entirely is actually calling the shots. It always pays to learn who's on top and connect with them directly.
Keep Risks Minimum
When you're selling, the greatest risk is in the people you choose to make the sale. Never keep someone on your team just because they have a powerful personality or "should be there" because of seniority or expertise. Just one moment of arrogance or one person bad at listening can completely tank your negotiations with a client.
Know Your Enemy
Keep on top of your competition. The less you know about them, the bigger risk you take. Make sure you know their strengths and weaknesses and remember that knowing these is just as important as knowing your own.
Move Your Fuel
When you are ready to sell your oil and work out the logistics for moving it, contact BlackRock Midstream for the right selling partner. We have years of experience in purchasing and moving hydrocarbons and offer safe and reliable service you can count on.