Customer behavior and equipment requirement for a leading oil and gas equipment manufacturer
Objective
- An oil and gas equipment manufacturer wanted to assess customer need for multiple user segments
- The client also wanted to understand the drivers of adoption for the brand, reasons for churn, and improvement areas to re-establish engagement
Methodology
- Surveyed 300+ drilling contractors, EPC companies, Oil field services companies, and Pipeline companies in India, Southeast Asia, and MENA
- Conducted 20+ in-depth interviews with churned users to understand factors of promotion/detraction and key pain points with the existing products used
- Analysis of various use cases, type of equipment required, avg. spend on equipment for sub-segments based on geography, placement in the value chain, the scale of the company
- Willingness to pay was analyzed for key service parameters for different customer archetypes
Impact / Outcome
- Oil and gas industry participants segmented into archetypes and drivers/barriers of adoption
- Key identifiers of churn and initiatives that could re-establish engagement were also identified