My boss is doing a webinar on how to improve market share — the portion of a market controlled by a particular company or product.
Bret is an amazing fella but I have to be honest with you: this sounded so boring until he explained how the software industry works. It’s simple, really. Companies need to gain dominant market share early in their development or they are in trouble.
He told me this.
- 10 percent market share puts you in the money and you can play with the big boys.
- 20 percent market share puts you in first or second place. Not too shabby.
- 30 percent market share is total market domination (forever).
How do you gain market share? It’s more than just having a pretty cloud-based offering. You need to do a few things.
- Place sales and marketing at the top of the pyramid.
- Realize that brand recognition is more important than demand generation. Your expensive, new marketing automation system might be your worst enemy.
- Recognize that traditional industry media and marketing sources provide insufficient market reach.
Okay, this is much more interesting to me.
If you are a HR Technology company or service provider who has visions of achieving a dominant market share — or being recognized by a company that has already achieved market share — this webinar is for you.
And you’ll get free, actionable advice from my boss. It’s worth the price of admission.
PS — The webinar is on Thursday, Aug. 2, at 2 p.m. Eastern time. If you can’t attend, sign up and get a free recording. See you there!