According to Transparency Market Research, the global digital health and wellness market has been estimated to have earnings of $536.6 billion by the end of 2025, up from $196.3 billion in 2017.
If you take into account this anticipated growth, scaling the market share in your Learning Management System (LMS) is a difficulty that many online marketers face. With so many competitors entering the industry, many professionals find their market share decreasing, along with their earnings.
The bright side is there are strategies that, if applied correctly, could help you stand out to companies or educational institutions and also enhance your market share.
Here are some tricks to growing your Learning Management System (LMS) market share:
To boost your market share, you need to have a clear idea of who you are marketing to. A Buyer Persona is an imaginary personality that represents your target customer. You could build Buyer Personas based on specific aspects like their goals, difficulties, duties, demographics, and behavior patterns. For example, you can have ‘Private Practitioner Peter ‘, ‘Hospital Administrator Adam’ or ‘Clinician Chris.’ By understanding their specific issues and resolving them, you are more able to develop the best marketing content to engage them and enhance your market share.
Beyond producing Buyer Personas, it is important to understand where they are on their Buyer’s Journey. You can do this by drawing up typical paths your existing clients take when looking into a problem they have, to considering a way to solve it, to actively looking for a specific solution.
There are 3 phases in the Buyer’s Journey:
Awareness phase: This is where buyers recognize they have an issue that needs fixed. Give them details that will help them understand their situation and their issue.
Consideration phase: Here, buyers have a clear understanding of their obstacles and are looking for ways to solve it. Recommend different approaches or strategies that could help fix the issue.
Decision phase: Buyers in this phase have decided on how they want to fix their issue. They now want details on the advantages and disadvantages of different services. This is when you should advertise your product or service and demonstrate how it is better than your competition.
Targeting your clients and potential customers with ideal content at each phase will lead to even more engagement and ultimately greater sales.
One of the best ways to engage ideal customers is with strategic blog writing. Current research by Hubspot found that B2B firms that regularly blog bring in more leads compared to those that do now. Once you establish your Buyer Personas, and map out the Buyer’s Journey, make sure your content addresses their specific difficulties and concerns. This will help develop their trust in you and boost your chances of transforming site visitors to leads. Be sure to release new content often, ideally two or more times a week. Remember to include a call-to-action (CTA) in your posts, urging visitors to join your newsletter or download even more content. Developing a solid connection with individuals with blog writing could help produce more sales, enhancing your market share.
There are always new developments, updates, and innovations in any type of industry. To keep ahead of the pack, you need to always be aware of what’s going on. What are the current market share stats for your niche? Who are the leading competitors and what can you learn from them? Who are the current players in the market? What are the most up-to-date modern technologies? Where is the industry going in five years? Having this information will help you develop a more effective Content and Inbound Marketing Plan.
According to Hubspot, more than 60% of marketing professionals recognize the significance of SEO for creating organic web traffic. SEO requires tweaking various parts of your website to enhance your search engine position. Take some time to research the key phrases that you can place with. Make sure to include these words and phrases in your blog headlines and content. Your photo names and alt-tags also need to have targeted key phrases. Don’t forget to use your keywords in your meta summaries and URL. Optimizing your site will bring in even more web traffic and improve opportunities of making more sales.
You want to nurture leads to turn them into qualified leads, and then into buyers. The most effective method of doing this is with automated emails. It is a good idea to segment your list to align with the buyer’s journey and create appropriate content for each section. Share links to your current posts. Update them on current market advancements. Provide details on new deals and specials. Be sure to not send them too many emails too soon. They may be overloaded and unsubscribe from your list.
Just as good parenting leads to good kids, great strategies and execution lead to good market share. When you bring in a lot of qualified leads using reliable marketing strategies, your sales team will have the ability to close even more sales and enhance the market share of your Learning Management System (LMS) business.
The key strategies laid out above belong to what is called the Inbound Marketing Methodology. Your Learning Management System (LMS) business could make use of Inbound to bring in brand-new visitors to your website, convert them right into leads, and then nurture them into happy customers.
We’ve helped many marketing pros detail and apply the effective Inbound Marketing Methodology for their customer base. If you want to discover brand-new means in order to help your Learning Management System (LMS) business rise market share, do not hesitate to ask for a cost-free strategy session. We are happy to talk one-on-one to help you review your strategies and offer free advice on how to enhance your market share.