The global health care marketing b2b market has been estimated to rake in a revenue of $536.6 billion by the end of 2025 from $196.3 billion in 2017, according to Transparency Market Research. Use these key health care marketing b2b strategies to increase your market share.
Given that expected expansion, growing market share in Healthcare Technology is a challenge that many marketers are increasingly faced with. With the increasing number of competitors in the industry, many find their market share shrinking and profits plateauing or diminishing.
The good news is that there are strategies that, if well implemented, can help you stand out to Health Systems, Insurance Providers, Private Practices, Etc. and increase your market share.
Here are some keys to growing your market share with health care marketing b2b:
1. Get laser focused on your most important buyers
To increase your market share with health care marketing b2b, you need to have a clear idea of who you are selling to. A Buyer Persona is a fictional character that represents your target customer. You can create Buyer Personas based on very specific factors such as goals, challenges, responsibilities, demographics, motivations, roles and behavioral patterns. For instance, you could have ‘Private Practitioner Peter ‘, ‘Hospital Administrator Adam‘ or ‘Clinician Chris‘. By understanding their unique challenges and addressing them, you are more equipped to create the right marketing content to engage them and increase market share.
2. Define the purchasing process of ideal buyers
Besides creating Buyer Personas, it’s important to understand where they are on their Buyer’s Journey. You can do this by mapping out common paths your existing customers traveled when researching an issue they were having, to entertaining the idea of a paid solution, to actively seeking a solution. There are three stages in the Buyer’s Journey to map out:
- Awareness stage – This is where buyers become aware of a problem that they would want to solve. Provide them with information which will help them understand their situation and clearly identify their problem
- Consideration stage – Here, buyers have a clear understanding of their challenge and are looking for ways to solve it. Suggest different methods or techniques which are available for solving the problem
- Decision stage – Buyers at this stage have already decided on the approach they would want to use in solving their problem. They now want information on the pros and cons of specific solutions before making a decision. This is the time to promote your product or service and show how it is better than that of your competitor’s
Targeting your customers and prospects with appropriate content at each stage will result in more engagement and subsequently higher sales. Which brings us the the next point…
3. Leverage blogging and premium content
One of the best ways engaging ideal customers is through strategic blogging. A recent study by Hubspot showed that B2B companies that use health care marketing b2b tactics to create content often attract more leads than those that don’t. After you developed very clear Buyer Personas, and mapped out their Buyer’s Journey, make sure your content addresses their specific challenges and questions. This will help build trust and increase chances of converting visitors to leads. Be sure to consistently publish fresh content on a regular basis, preferably twice per week or more. Don’t forget to include calls to action (CTA) in your blog posts encouraging visitors to join your mailing list or download more content. Building a strong relationship with people through blogging can generate more sales, thus increasing your market share.
4. Stay updated on your industry to keep an edge
There are always new innovations, updates and changes in any industry. To stay ahead of the pack, you need to always stay informed on what is going on. What are the market share statistics for your market niche? What are the leading competitors doing that you can learn from? Who are the latest entrants in the industry? What are the latest technologies? Where is your industry headed in the next five years? Having such information at your fingertips will help you create a more effective Content and Inbound Marketing Plan.
5. Use search engine optimization (SEO) techniques
According to a HubSpot study, more than 60% of marketers acknowledge the importance of SEO for generating organic traffic. SEO involves tweaking different elements on your website in order to improve your search engine ranking. One of the most important factors that determine ranking is keywords. Take time to research on the industry keywords which you would want to rank for. Be sure to include these keywords in your blog headers and content. Your image names and alt-tags should also contain your target keywords. Don’t forget to place your keywords in your meta descriptions and page URL. Optimizing your site will attract more traffic and enhance chances of making more sales.
6. Nurture the leads you generate
The aim of lead nurturing is to convert leads into qualified leads, and eventually into buyers. The best way of doing this is through an automated email series. It would be advisable to segment your list according to the buyer’s journey and create relevant content for each segment. Share links to your recent blog posts. Update them on recent industry developments. Give them firsthand information about new offers or discounts. However, don’t bombard them with too many emails too soon. They might get overwhelmed and unsubscribe from your list.
The final word
Just as good parenting results in good children, good strategies and implementation result in good market share. When you attract many qualified leads using effective marketing strategies, your salespeople will in turn be able to close many more sales and improve the market share of your Healthcare Technology company.
The key strategies outlined above are part of what is known as the Inbound Marketing Methodology. Your healthcare technology company can utilize Inbound to attract new visitors to your website, convert them into leads, and nurture these leads into loyal customers.
We’ve helped numerous marketing pros outline and implement the powerful Inbound Marketing Methodology for their unique customer base.
If you’d like to find new ways to help your Healthcare Technology company increase market share, feel free to request a free strategy session now. We’re happy to spend time, 1-on-1, helping you evaluate your assets and offer free insights and suggestions to guide you in the right direction.