The oil and gas industry can be complex, demanding, and difficult to navigate. To be a success, you don’t just need to know the best practices to take; you also need to be aware of what mistakes to avoid. Here is our list for the top 4 biggest mistakes that oil and gas companies should avoid.
4. Resisting modernization
Sticking to tradition may seem noble and may even attract older patrons of your business, but your business should be catering to the up-and-coming crowd, not those soon to retire. Newer customers expect modern technology platforms for correspondence, like websites, social media, and (do we even have to say it) email already. An unanswered phone line won’t cut it.
3. Not using cloud technology
Resisting internal innovation (specifically cloud technology) can set your company back. The cloud will bring your oil and gas company into the stratosphere and give you the ability to organize, schedule, communicate, and do most of your business in general with ease.
2. Focusing too much on cutting expenses
Cutting costs can be necessary at times, especially with fluctuating oil prices, but putting too much emphasis on cutting non-critical expenses can lead to unhappy employees and customers.
1. Underappreciating customer loyalty
This is the big one. Catering to your customers and rewarding them for their loyalty doesn’t mean the occasional promo in their mail. Stop thinking in terms of small infrequent gestures and start thinking about the bigger picture. It’s all about fine tuning your business’s priorities to accommodate what your customers want the most. What do your customers value? Transparency, expedience, good customer service, accessibility? Let your customers see how much you appreciate them by offering what they want most.
If you see yourself doing any of these things, it’s time to break the cycle. It’s not too late to optimize your business plan and get your company on the right track. And when it comes to the #1 mistake, Insta Answer is here to help your course correct. Our 24/7 virtual receptionists are standing by to assist your customers with decades of oil and gas experience and a smile in our voices. Give us a call today.