6 Keys to Increasing your B2B Software Market Share

The global electronic health and wellness market has been estimated to generate a revenue of $536.6 billion by the end of 2025, up from $193.6 billion in 2017, according to Transparency Marketing research.

Considering that anticipated growth, increased B2B software market share is a problem that many marketing experts face. With more competition in the industry, several companies see their market share decreasing and revenues plateauing or decreasing, as well.

Fortunately, there are strategies that can help attract attention to clinics, hospitals, and health systems, and can also boost your B2B software market share.

1. Get laser-focused on your ideal buyers

To increase your B2B software market share, you should have a clear understanding who you are marketing to. A Buyer Persona is an imaginary personality that represents your target customer. You can build Buyer Personas based on elements like their objectives, difficulties, obligations, demographics, responsibilities, and behaviors. For example, you can have “Private Practitioner Pete,” “Hospital Administrator Adam,” or “Clinician Carol.” By knowing their unique obstacles and resolving them, you are more prepared to develop the best marketing content to engage them and enhance your market share.

2. Identify the buying process of ideal buyers

Beyond creating Buyer Personas, it’s critical to recognize where they are on their Buyer’s Journey. You can do this by mapping out common pathways that your existing customers take when researching their problem, to considering a paid option, to looking for a specific option. There are three phases in the Buyer’s Journey:

Awareness Phase: This is when buyers familiarize a problem they want to fix. Offer them details that will help them understand their situation and plainly identify it.

Consideration Phase: Here, buyers know of their issues and are trying to find ways to solve it. Recommend various methods that can help.

Decision Phase: Buyers at this phase have selected the method they will pursue. They want information on the benefits of particular services or products. This is a good time to advertise your service and demonstrate how it is better than your competition.

Targeting your clients and potential clients with ideal content at each phase will lead to more engagement and therefore greater sales.

3. Use blogs and premium content

One of the best ways to engage ideal customers is through strategic blog writing. Current research by Hubspot found that B2B firms that blog regularly bring in more leads than those that do not. Once you have built clear Buyer Personas and drawn up their Buyer’s Journey, ensure your content addresses their particular needs. This will help build trust and boost the chances of turning site visitors into leads. Make sure to consistently release content, ideally two or more times a week. Include a call-to-action (CTA) in your posts to motivate visitors to join your email list or download more content. Developing a solid partnership with visitors via blogs can help create more sales, therefore boosting your market share.

4. Keep up-to-date on your B2B market to have an edge

There are always new technologies, updates, and changes in any type of industry. To stay ahead of the pack, always stay informed on what is going one. What is the current market share in your industry? What are the leading rivals doing? Who are the new players? What are their current innovations? Where will the market be in five years? Having this information will help you develop more relevant content and Inbound Marketing Plan.

5. Use search engine optimization (SEO) strategies

According to Hubspot research, more than 60% of marketing experts understand the value of SEO for creating organic web traffic. SEO includes tweaking various parts of your website to boost your search engine position. A big way to do this is by researching top search phrases. Take time to find the industry keyword phrases that you want to rank for. Put these words and phrases in your blog headlines and content. Your photo captions and alt-tags should also include these words. Don’t forget to put them in your meta summaries and page URLs. Enhancing your site will help bring in more web traffic and improve the chances of getting more sales.

6. Nurture the leads you create

The goal of lead nurturing is to convert visitors into qualified leads, and then turn them into buyers. The best way to do this is through automated email collection. It’s a good idea to align your emails with the buyer’s journey and develop relevant content for every step. Share links to current posts. Update them on new market growths. Provide details on new deals or special rates. Nevertheless, do not pester them with a lot of emails ahead of time. They might feel overwhelmed and unsubscribe from your list.

The Final Word

Good strategies and application result in good market share. When you bring in many qualified leads using effective marketing strategies, your salespeople will have the chance to close more sales and boost your B2B software market share.

The key strategies laid out above are part of a technique called the Inbound Marketing Methodology. Your B2B SaaS firm can use Inbound to bring in new site visitors, convert them to leads, and nurture them into clients.

We’ve helped countless marketing professionals effectively apply the Inbound Marketing Methodology for their customer base.

If you want to find new ways to help boost your B2B software market share, don’t hesitate to ask for a free strategy session. We are here to help you examine your current methods and identify new ways to pump up your piece of the pie.