The past decade has seen an explosion of health data from sources including digitization of health records, genomics, wearables, insurance claims and more. By some estimates, it currently accounts for about 30% of the world’s data volume.
Combined with the power of machine learning, this data can reveal new insights about patients and their unique care journeys. Imagine AI models that help improve cancer diagnostic accuracy or isolate genes responsible for rare genetic conditions. Such innovations are already beginning to improve patient outcomes, raising the question of what else could be done to replicate beneficial applications of health data more generally across the healthcare system in a privacy-preserving manner. I’m here.
Digital marketing in the pharmaceutical industry seems like a prime candidate for this kind of innovation. For example, what if broad population-level insights could be gathered to provide patients with the right information, exactly when they need it? What if you could improve the experience of the 42% of consumers who say it?
Given that our past research has shown that pharmaceutical advertising can play a more active role in patients researching treatments, we say this influences patient adherence. It is also the most common factor This is certainly powerful. So let’s take a look at the state of programmatic advertising in healthcare today, delve into some of the trends that are hindering the use of privacy-protected health data in advertising, and try to combine the two. Let’s explore the opportunities for pharmaceutical company marketers.
The State of Pharmaceutical Marketing in 2022
For many reasons, linear TV has long dominated the marketing mix for pharmaceutical brands and their distributors, but audience trends are shifting and audiences are becoming more fragmented. In fact, some estimate that up to 70% of streaming audiences cannot be reached with linear-only campaigns. This has led many advertisers to consider programmatic formats such as digital video and connected TV (CTV). The pandemic has further changed the way many pharmaceutical brands view advertising, and many credit it for making a key difference in educating both consumers and healthcare providers.
This major landscape shift towards programmatic media by pharmaceutical companies represents an opportunity to rethink both advertising relevance and measurement in the industry.
First, programmatic channels offer much more precise targeting than traditional TV. Compared to traditional demographics, four or more variables such as location and household income are available. By the way, this is consistent with what patients want: relevance. A study conducted by DeepIntent and LG Ads Solutions found that 65% of more than 2,900 adults surveyed said that targeted advertising improved their experience, and 57% said CTV advertising was better than linear or It is said to be more relevant than traditional TV advertising. However, the retirement of third-party cookies in 2023 will impact the accuracy of some programmatic channels, so invest in new tools and strategies that enable privacy-preserving audience building, targeting, and measurement. becomes important. For example, CTV does not use third party her cookies for audience identification and measurement.
Second, by linking digital advertising campaign data with health data, advertisers can take a step beyond traditional reporting metrics. Rather than simply tracking top-level data points, such as the number of impressions or clicks an ad receives, marketers dig deeper to find out more, such as how many new patients actually fill prescriptions written by their doctors. Analyze real patient outcomes. their doctor after seeing an ad. This is also where the greatest opportunity exists for long-term improvements in audience targeting, activation and measurement, and what will soon transform the pharmaceutical industry’s digital marketing.
Powering Pharma Marketing with Real-Time Data and Campaign Optimization
Health data is impractical on its own, and many challenges have historically prevented its use in advertising.
First of all, data silos and property systems make it difficult to extract data and glean insights from connected data sets. The need for privacy and regulatory compliance further complicates its use for advertising purposes. Moreover, even when billing data is available, it is often delayed and lack of integration between marketing platforms and measurement tools makes campaign optimization a difficult and time-consuming process that other industries It would be nearly impossible to automate at the same depth that we enjoy today.
But why should healthcare marketers be relegated to using tools and solutions that are mediocre and far inferior to what other marketers can do? Thankfully, real-time data Powered by , clean rooms, and machine learning, the latest digital marketing technology allows you to use your digital health data in a privacy-safe way to optimize your campaigns for real-world results.
In just a few days, healthcare marketers using this technology can start identifying the most effective channels and demographics to achieve campaign goals such as audience quality and brand newcomer scripts. That information can be interpreted using machine learning to optimize variables such as creative, audience, frequency, and inventory locations that affect whether your ads are timely and relevant.
For an industry that has traditionally lagged behind other industries such as retail and finance in adopting programmatic, the consequences of this shift are enormous. Marketers can better understand campaign performance and optimize campaigns faster and more effectively than ever before. And for patients who may turn to new drugs and treatments, the impact of this change can be literally life-changing.