Firms Apply Programmatic Media Buying and Predictive Targeting for Astounding Results
Advertisements are everywhere. We see them outside, watch them on television and listen to them on the radio. They have infiltrated our digital lives, creating a canvas of promotions across the websites we visit. Whether consciously or not, we are constantly influenced by their messages.
And, with the growing capabilities of technology, data and the Internet, it has become easier than ever for advertisers to target us as individuals. Online ads are no longer universal, broadcasting messages to audiences who may not connect with a specific product or service. Instead, marketers are harnessing our information to show us what, when and how we want it, sometimes even before we know we want it. This type of consumer targeting is called programmatic media buying, and it’s revolutionizing how advertisers connect with their target audiences.
Using exact or inferred behaviors, programmatic media buying brings together technology and data, allowing marketers to narrow their focus and personalize strategies to cater to a precise audience’s interests and needs.
Programmatic Buying and Predictive Targeting in Pharma
Programmatic media buying is a growing practice for many marketers. But, understandably, the healthcare industry has been slow to jump on the bandwagon due to privacy barriers that limit access to consumers’ medical information.
Despite this roadblock, Intouch Solutions and Crossix Solutions, a healthcare data analytics provider, are providing privacy-safe new ways to create personalized online experiences for consumers through predictive targeting. Angela Tenuta, executive vice president at Intouch, and Shannon Gallagher, VP of analytics services at Crossix, shared how predictive targeting is transforming the healthcare media buying landscape in the latest DTC in Focus.
Putting the Pieces Into Practice
Non-health-related consumer data variables, such as demographic information, media consumption and lifestyle, connect to health behavior data, giving marketers a better understanding of consumers’ needs. Harnessing what they are permitted to know and inferring lacking information based on empirical evidence allows healthcare marketers to segment their audiences while adhering to privacy laws.
Predictive targeting is not only effective and efficient in theory; it has been proven in practice. In a recent implementation of the Intouch Solutions/Crossix model for one client, physician visits by consumers who were exposed to the audience-targeted campaign components were three times higher than those exposed to the contextual/content-focused components. And the estimated cost per new start in the audience-targeted segment was one-twentieth the cost of the contextual segments of the media buy.
As Angela and Shannon explained when co-presenting this case study recently at Digital Pharma East, “Normally, in this category, we would be happy to be spending $2,000 for a new patient start. $119 is crazy-good.”
Crossix and Intouch were among the first in the industry to leverage programmatic buying and predictive data to create these efficient digital campaigns.
Although predictive targeting will not completely replace contextual media buying in the near future, the momentum is steadily building.
“This can help us shift the way we think about media buying in pharma,” Shannon explained. “We can now actually target and purchase an audience target online — an audience that looks like your treating target. We can now open ourselves to a world in which media is data-driven and data-proven.”
To learn more about predictive targeting and the changing media buying landscape, read Angela and Shannon’s full article in DTC Perspectives or contact them via the information listed below.