According to Transparency Market Research, the worldwide digital health and wellness market is predicted to garner profits of $536.6 billion by the end of 2025, up from $196.3 billion in 2017.
This expansion means that a growing remote care monitoring market share is an issue often confronted by remote monitoring and family care management companies. With the increased competition in the industry, companies often find their market share diminishing and their profits stalling or decreasing.
Fortunately, there are strategies, when well-executed, that can help your company stand apart to your doctor and health systems customers, and also raise your market share.
Here are some tips for increasing your remote care monitoring market share:
1. Make your most important buyers your top priority
If you want to enhance your remote care monitoring market share, you need to have a clear concept of your audience. A Buyer Persona is a fictional personality that represents your target customer. You can develop Buyer Personas using a variety of elements, such as their goals, problem areas, motivations, demographics, jobs, and behavioral patterns. For example, you can have ‘Private Practitioner Peter ‘, ‘Hospital Administrator Adam,’ or ‘Clinician Chris.’ By recognizing their one-of-a-kind obstacles and also fixing them, you are much more prepared to develop the ideal marketing content to engage them and also raise market share.
2. Outline the buyer’s journey for ideal customers
Beyond developing Buyer Personas, it’s essential to understand their position on the Buyer’s Journey. To do this, you can outline buyer paths of existing customers, including the information they sought out, their consideration of making a purchase, and then their final step in actively seeking a solution/buying the service. There are three phases in the Buyer’s Journey to include:
- Awareness phase– This is where buyers identify an issue they wish to resolve. Offer them with information that will help them better understand their situation and recognize their problem.
- Consideration phase– Here, buyers have a clear understanding of their difficulty as well as a desire to address it. Recommend various approaches or methods to resolve the issue.
- Decision phase– Buyers at this phase have selected the strategy they want to use to address their problem. They want information on the benefits and drawbacks of particular remedies prior to deciding. This is the moment to advertise your services or product and demonstrate how it outperforms your competitors.
Targeting your clients and leads with accurate information at each phase will lead to even more engagement and ultimately greater sales.
3. Capitalize on high-quality content and blogs
One of the best methods to engage top customers it through intentional, strategic blog writing. A Hubspot research study found that B2B firms that consistently blog attract more leads than those companies that do not. After you establish clear Buyer Personas, and have outlined their Buyer’s Journey, ensure your content addresses their needs and concerns. This will increase trust in your brand and will help convert visitors into leads. Frequent new content is important, ideally two or more times each week. Remember to include a call to action (CTA) in all your content to motivate the audience to take the next step, whether that be signing up for your newsletter or downloading more content. Building a strong connection with potential customers through your blog can help produce more sales, ultimately raising your market share.
4. Keep on top of industry updates to stay ahead of the competition
New technologies, updates, and changes occur in any market. If you want to stay ahead of your competition, you need to diligently educate yourself on new advancements and industry information. For instance, what are the marketplace share statistics for your particular market? What can you learn from leading companies in the industry? Who are the current players? What are the most up-to-date innovations? Where is your market headed in the next five years? Being aware of these details will help you develop a robust and informed Content and Inbound Marketing Plan.
5. Follow search engine optimization (SEO) strategies
Hubspot research recently found that more than 60% of marketing professionals recognize the value of SEO for producing website traffic. SEO includes tweaking various components on your website to boost your search engine position. One of the most vital variables that identify this position is search phrases. Spend time researching market key phrases that you can include on your site. Use these phrases in your blog titles and content. You can also include these phrases in your photo captions and alt-tags. Remember to put your keywords in your meta summaries and URL. Enhancing your site will certainly bring in even more web traffic and also boost possibilities of making even more sales.
6. Nurture your generated leads
Spend time nurturing your leads to convert them into qualified leads, and, hopefully, buyers. To do this, use an automated email series. Segment your email lists by the lead’s position on the buyer’s journey in order to send each lead relevant content. Share blog posts, update them on current industry news, and provide details on new deals and price-cuts. Be sure to not overwhelm them with too many emails. This could cause email fatigue and could possibly cause them to unsubscribe.
The Final Word
Just as you must water a plant for it to grow, you must use effective strategies to increase your market share. When you develop a growing group of qualified leads with these strategies, your salespeople will have more opportunities to close deals and boost the market share of your remote monitoring and family care management business.
The key strategies laid out above are components of the Inbound Marketing Methodology. Your remote monitoring and family care management business could use Inbound Marketing to attract brand new visitors to your website, convert them right into leads, and also turn these leads into loyal customers.
Responsify has helped a variety of marketing pros develop and apply an effective Inbound Marketing Methodology strategy for their own individual customer base.
You can discover brand new ways to help your remote monitoring and family care management firm boost market share by signing up for a free strategy session now. We’d be happy to spend one-on-one time with you to evaluate your current model and offer ideas on how to implement strategies for success.