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4 min

4 aspects of an Oil and Gas B2B survey

A deep dive into three aspects of an Oil and Gas B2B survey for your business needs

GrapeData
Nov 4, 2022
B2B market research
Industrials

Introduction

If you're looking to survey Oil and Gas b2b executives, a well-designed survey with a large enough sample size will provide you with better-quality data. There are several factors that can affect the quality of your Oil and Gas b2b survey. These include the type of questions asked, how many people take part in your study, and how effective your recruitment methods are at getting those people into your sample. In this post, we'll cover these three aspects in detail so that you can design an effective survey for your own business needs.

4 aspects of an oil and gas B2B survey explained

A b2b survey can be a useful process for oil and gas companies. Understanding the needs of their clients will allow them to provide better service, which in turn will increase customer satisfaction. B2B market research is a method used by businesses to gather information about their target market’s needs, wants, and preferences. It allows you to listen directly to your customers through surveys. These surveys can be conducted over the phone or online. This element depends on how many people you want to reach out to at one time and what type of information you are trying to collect from those people.

There are several reasons why it's important that oil & gas companies conduct these surveys:

-They help understand their industry and customers better

-They help improve the services and products that are provided to those customers

1. How to design an Oil and Gas B2B survey

It is important to keep in mind the purpose of your survey and how you plan on using the data. If you are conducting a research project, then it may be useful to ask questions about certain topics. However, if your survey is for market research purposes and you intend to use it as part of an oil and gas b2b marketing campaign, then asking questions that are more specific might be more appropriate.

The type of questions that you ask will also depend on what type of information you want to collect. For example, if someone wants to know how to enter the Oil and Gas market or develop an investment strategy in 2023, then this would require specific information from respondents. First, respondents would need to provide their level within an organisation or investment experience with particular industries. On the other hand, perhaps someone wants feedback on a new product line they've launched into the marketplace. They would want to know how likely people would be willing to buy their product. This could involve multiple choice answers like:

  • "Extremely likely,"
  • "Likely,"
  • "Not sure,"
  • "Unlikely," etcetera

Even open-ended text responses where respondents can provide comments at length about why they feel this way, can be included.

2. How to build your B2B respondent list

Before you can begin your survey, you need to build a respondent list. There are many ways to do this, including:

  • Database of contacts: You can have a database of contacts that you can export and then import back into your system after the survey is complete. It might be easy to use this method as long as the number of records in your database doesn’t get too big.
  • List of companies: If you have a list of oil and gas companies, it will be more cost-effective than buying new data from third-party vendors. However, if there are only 50 companies on this list and they all happen to work in different segments within the industry then you may not have enough responses for good insights. In these cases, we always recommend supplementing with another source. This source could be an industry association or trade group membership directory which includes hundreds if not thousands more contacts at a fractional cost per contact.
  • List of individuals: This approach works great when building an online panel. The reason behind this is that there's no limit on how many responders they'd like included on their panel. However, be careful about how much information gets shared during registration emails since some people may opt out due to privacy concerns.

A good approach for building a panel is to start with an industry list and supplement it with a list of individuals that can be used as a control group. For example, if you are building an Oil and Gas survey we recommend starting with a list of companies that operate in the industry, then adding respondents from a data collection panel so you have more people available to respond to your survey. For more on b2b survey respondents, check out our article titled 'Different Types of B2B Survey Respondents That You Should Know About'.

3. How to maximise your sample size for your Oil and Gas B2B survey

If you’re planning on conducting a survey for your organisation, it’s important to keep in mind that the larger the sample size, the more reliable and accurate your results will be. However, with certain types of surveys (such as internet-based ones), it may not be possible to get a large enough sample size without making your survey prohibitively expensive. In these cases, we recommend using a smaller sample size with higher confidence intervals.

In addition to cost considerations (which are typically lower for smaller sample size), you should also consider how long it will take for respondents to complete their survey. For example, say that you want to conduct an email-based b2b survey about oil and gas equipment maintenance services in South America. However, if you only have 500 people who fit the profile available as potential respondents during that time period, then it won't matter how much money or effort goes into soliciting those 500 people because they simply wouldn't be enough for a sample size. In order to receive actionable results, you can consider partnering with a survey research specialist. The specialist can ensure that you get high-quality data within your ideal timeframe. To know more about how it works, check our page linked here. 

Therefore make sure that whatever method(s) you choose will allow participants to complete their response(s) within an acceptable time frame before moving forward with any plans related thereof.

4. Recruiting oil and gas executives

Recruiting oil and gas executives is an important part of any b2b survey. How do you get them to participate in your survey? Yes, it can be difficult to get an executive to complete a survey. But here are some tips:

  • The first thing you need to do is determine who your target audience is going to be. Is it all senior-level people or just managers? Who will have access to the data that you want? You need to know this before you can create a good plan for recruiting them.
  • Think about how much time each person has on their hands. This will help you decide how long each survey should take and what kind of questions might work best for them depending on if they're busy.

A well-designed survey with a large enough sample size will provide you with better-quality data

An effective Oil and Gas B2B survey is one with a large enough sample size. This is because the people who take your survey are more likely to be representative of the general population. For example, a small business owner might not have access to high-quality tools like market research software or the funds needed to hire a professional market research company. Yet they may want to conduct their own surveys. This might be because it's cheaper and faster than outsourcing their research efforts to an outside company. However, if they don't use these tools correctly, if they don't do enough fact-checking before conducting their own survey, their results won't tell them anything useful.

Conclusion

The oil and gas industry is a large and rapidly growing industry. It is therefore important to understand how the sector is changing so that you can stay ahead of your competitors. A well-designed survey can provide you with high-quality data which will help you make informed decisions on how best to serve this growing market segment.