How Secure Health Data Will Transform Digital Marketing in the Pharmaceutical Industry
The past decade has seen an explosion of health data from sources such as digitization of health records, genomics, wearable devices, insurance claims, etc., which by some estimates now amounts to approximately 30% of global data volume.
Combined with the power of machine learning, this data has the potential to reveal new insights into patients and their unique care journeys. Imagine an AI model that improves the accuracy of cancer diagnosisor can help isolate the genes responsible for rare genetic diseases. Innovations like these are already beginning to improve patient outcomes, and they raise the question of how we can safely replicate the beneficial application of health data more broadly across the health system. .
Digital marketing in the pharmaceutical sector seems to be a prime candidate for this type of innovation. For example, what if we could glean general population-level information to deliver relevant information exactly when patients need it? What if we could improve the experience of the 42% of consumers who say the relevance of pharmaceutical ads they see is poor or very poor?
Whereas our previous research has shown that pharmaceutical advertisements can enable patients to take a more active role in seeking treatments – which is also the most common factor that patients report influences their adherence to medication – that would be really powerful. So let’s take a look at the current state of programmatic healthcare advertising, look at some of the trends that are holding back the use of confidential health data in advertising, and explore the opportunity for pharma marketers who are successfully combining the of them.
The state of pharmaceutical marketing in 2022
For a number of reasons, linear TV has long dominated the marketing mix of pharmaceutical brands and their agencies, but viewing habits are changing and audiences are fragmenting. In fact, some estimate that up to 70% of streaming audiences cannot be achieved by linear campaigns alone – pushing many advertisers to explore programmatic formats like digital video and connected television (CTV). The pandemic has further changed the way many pharmaceutical brands view advertising, with many appreciating the significant difference it has made in educating consumers and suppliers.
This major shift in the landscape towards programmatic media by the pharmaceutical industry represents an opportunity to rethink both the relevance and measurement of advertisements for the industry.
First, programmatic channels offer much more precise targeting than traditional TV – with up to four or more variables like location and household income, versus traditional demographics. Incidentally, this is what patients say they want: relevance. According to research by DeepIntent and LG Ads Solutions, 65% of over 2,900 adults surveyed said targeted ads improved their experience – and 57% said CTV ads were more relevant than linear or traditional TV ads. However, the move away from third-party cookies in 2023 will impact the accuracy of some programmatic channels, making it important to invest in new tools and strategies that help build, target, and measure an audience securely. CTV, for example, does not rely on third-party cookies for audience identification and measurement.
Second, linking data from digital ad campaigns and health data allows advertisers to go beyond traditional reporting metrics. Instead of just tracking high-level data points like the number of impressions or clicks an ad received, marketers can go much deeper and analyze actual patient outcomes, like how many new patients actually track the filling of prescriptions written by their doctors after seeing an ad. It’s also where there’s the greatest opportunity to improve audience targeting, activation and measurement over time – and it’s what will soon transform digital marketing in the industry. pharmaceutical.
Empower Pharmaceutical Marketing with Real-Time Data and Campaign Optimization
Health data is not actionable on its own, and a number of challenges have historically prevented its use for advertising purposes.
For starters, data silos and proprietary systems have made it difficult to mine data and gather insights from connected datasets. The need for privacy and regulatory compliance further complicates its use for advertising purposes. In addition, claims data, when available, is often lacking, and the lack of integration between marketing platforms and measurement tools has made campaign optimization a difficult and time-consuming process. t is nearly impossible to automate with the same depth that other industries enjoy today.
But why should healthcare marketers be relegated to using second-rate tools and solutions that are downright inferior to what other marketers can do? The answer is they shouldn’t, and thankfully the latest digital marketing technology leveraging real-time data, clean rooms and machine learning helps optimize campaigns for real results using digital health data in a way that protects privacy.
In just a few days, healthcare marketers using this technology can begin to determine which of their channels and demographics are most effective in achieving their campaign goals, such as audience quality and new branding scripts. Mark. This information can then be interpreted using machine learning to optimize variables such as creative, audience, frequency, inventory geography, etc., which impact relevance and value. ad opportunity.
For an industry that has traditionally lagged behind others like retail or finance in its adoption of programmatic, the implications of this shift are enormous. Marketers will gain a much better understanding of campaign performance and will be able to optimize their campaigns faster and more efficiently than ever before. And for patients who may be dependent on a new drug or therapy, the effects of this transformation can literally be life changing.