Oilfield Loans Blog
Three Roads for Routing Traffic to Your Website
A website doesn't work by itself and it needs to depend on more than search engines to deliver traffic your way and help grow your business. Optimizing your web content for search engine is important, but you want to take advantage of the different routes to drive people to the website.
Websites can do many things to help grow your business including these:
Make a Website Work for Your Business
Business websites need to answer questions, provide information, include calls to action and make it easy for visitors to get what they need. Think about why you want people to visit your website. Of course, you want to grow your business, but it takes smaller steps to get there.
7 Ways Email Marketing Helps Grow Your Oilfield Services Business
Email marketing continues to be a very effective tool in spite of spam and the growing use of social media. The advantage of email marketing is that it can accomplish many things with a single email: generate leads, brand, stay in touch with customers, drive traffic, share knowledge and build credibility.
How to Get Leads from Customers
In Your Customers Are Leads Too, Nadia de Villa outlines three practices for generating leads and boosting retention. de Villa also confirms what I believe in: "Customer retention is far more cost effective than customer acquisition."
The three areas for generating leads and retaining customers de Villa covers include lead scoring, lead nurturing and active/inactive analysis.
Lead Scoring: Ranking prospects and customers
Buying a Company
One way to grow your business is to buy a company with products or services that complement yours. Or you might buy a competitor and merge products or services to create better products or services. Even if both scenarios sound great, there are other parts of the equation to consider that many forget about in their excitement to take business to the next level.
Buying a business not only means more products and resources, but also it means considering:
Don't Mix Business and Personal Credit Card Purchases
No one -- not even a one-person business, should ever use a personal credit card for business purchases. It's important to separate personal and business purchases because your personal purchases will come up during the accounting process. Furthermore, corporations, partnerships, LLCs, and LLPs must have official business accounts. The only ones not required to do this are sole proprietors, but it's beneficial for them to separate the two.
How to Balance Your Cash Flow
Sometimes you might find yourself short on cash when you need it and have plenty available when there are no bills to pay. You can move things around to smooth out uneven cash flow as explained in this Entrepreneur article. In the article, author Scott Gerber tells about his company's struggle with low cash flow two times a year. He figures out part of the problem is that clients have up to 60 days to pay their invoices.
Prepare to Request Financing
So you need more money to buy a building or equipment, scale your services or some other tool that will grow your business? You'll have a better chance of landing working capital when you prepare before meeting with banks and private lenders.
8 Important Business Tools
Owners of successful businesses focus on more than just profits, revenues and the core business. While they may not be experts or the best in all the things that affect a business, they hire the experts and delegate tasks to cover those areas. Furthermore, business owners also need skills in time management, organization and leadership to keep moving forward and ensure everyone is on the same page as they grow the business.
Boost Customer Loyalty
Our team here at Capital Solutions Bancorp Oilfield Services has said this many times: it's cheaper to keep current customers plus they're your source for future customers. If you lose a customer to a competitor, it will take time and money to get them back. With an effective marketing strategy and knowing your customer's worth, you can find new customers. But that still takes time and money.
Hear what our oilfield clients say
What Our Clients Are Saying
- Keri Gray,The HUGE difference I found since we are working with you... is in the day-to-day life... Since Capital Solutions is funding us there is no "fear"... when I talk to a vendor or need to make payroll. You guys have also bent over backwards... to make it work for us. I really appreciate that.
Energy Services
- Brenda and Mark Neufeld,In our very first conversation I noticed that you not only understood our situation, but also the Oil & Gas trade. Capital Solutions has been an invaluable help... We have grown our business exponentially thanks to you. I can now probably qualify for a traditional line of credit (...but I'm not sure I want to).
B.N.M. Piloting Services
- George Del Toro,We were funded [in 10 days] (the approval process was very smooth). The way I spend my time has changed dramatically since then. I can spend as much time as I need visiting with customers and out on the field... In closing I would like to tell you that Capital Solutions has made it possible for GDT Well Service, Inc. to triple (300%) its business in the last year, without any of the "growing pains".
GDT Well Service