One Step Closer to Personalized Health Marketing
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For the full webinar, please click here: http://bit.ly/1RYwgh9 Presented by: Deb Furey, Senior Vice President, Health Strategy Adam Lavelle, Chief Growth Officer, Digital Long sought after, personalization is now a reality for pharma, and health insurance marketers. The ability to tailor a consumer’s journey based on individual information creates better experiences and incredible results for marketers. This webinar will delve into the possibilities of personalization and outline what marketers must do to bring this groundbreaking approach to fruition.
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One Step Closer to Personalized Health Marketing
- 1. One Step Closer to Personalized Marketing Deb Furey SVP, Health Strategy Adam Lavelle SVP, Merkle
- 3. Personalized TRACKING 3 1336 Health Tracker Applications on ITunes alone; $238m market in 2013 around the world, all smartphone-enabled tracker sales Apple Health Kit - over 20 health care companies plan to support HealthKit The Economist, 2014; Apple.com 2014
- 5. How We Got Here Key Barriers: • Highly Silo’d businesses • Significant Med/Legal restrictions • Struggle with fundamentals (e.g., targeting) • Data privacy • High turnover, learning curves Key Opportunities: • Significant 3rd Party and Digital Media Spend • Leap Frog other industries • Low visibility into impact, value of investments • New launch demands Age of Rep Emergence of DTC Multi-Channel Integration Plays Flight to Digital 19971980s 2005 2012 5
- 6. 260 orphan drugs in US in 2013 - no longer niche 18-to-34 year-olds make up largest share (23.5%) of the US population It Works – relevant adds are viewed 2X more, online exposed audiences index considerably higher on Rx purchase behavior Programmatic poised to disrupt model Link TV buys and anonymous prescription purchase data (Nielsen NCS & Croissix) Venture funding for health startups increasing 74% between ‘13 and Q314 ($903M) It is now Possible for Pharma Medical Marketing & Media 10/14; eMarketer 10/14; PM360, 2014; Magna Global 1/14 WHYNOW? 6
- 7. Marketers have been thinking in two disparate ways 7 Data-Driven ROI Measureable The Big Idea Creative-Driven Predictive Brand-Building Experiential
- 8. These worlds have been too far apart for too long 8 Persona The Big Idea Customer Journey Map Customer Experience Data & Analytics Addressable Media Planning Addressable Platform Execution & Measurement Performance
- 9. They are converging to deliver Addressable Customer Experiences 9 Persona The Big Idea Customer Journey Map Customer Experience Data & Analytics Addressable Media Planning Addressable Platform Execution & Measurement Performance AND AND AND AND Addressable Customer Experiences
- 10. Customer Remarketing Audience 1 Audience 2 Audience 3 Some of the most valuable experiences are in the mid-funnel Awareness Consideration Engagement Conversion Commerce Experience Unqualified leads & waste Upper Funnel Mid Funnel Lower Funnel Media Focused Channel Focused CRM Focused Unknown High-value customer Low-value customer Unknown High-value customer Low-value customer 10
- 11. For the rest of our webinar on how you can be one step closer to personalized health marketing experiences, view our four-part on-demand webinar series here.
Editor's Notes
- idea is that this pill will contain magnetic nanoparticles that can latch onto certain cancer-related molecules in the bloodstream—and that a wearable device could then use magnetic properties to recognize when this happens. As Gambhir points out, this is just one of many efforts to detect cancer in vivo—i.e. within the body, without drawing blood.
- Orphan drugs no longer Niche status - 11% growth rate to $176 billion in sales by 2020, or 19% of total prescription drug sales - more than double the growth of the overall prescription market ; A record 260 orphan drug designations were granted in the US in 2013. For first time in decades, the 18-to-34 year-old set now claims the largest share (23.5%) of the US population. – Millennial are first generation without the late-adopter phobias to technology; Mobile apps, gaming, GPS and other user-friendly electronic devices are beginning to deliver on their promise - inform drug marketers about everything from local variations in scrip fill rates to keeping patients compliant with their meds. With personalized health care, the annual medical visit, which is currently acknowledged to be of little value, is redesigned to identify the patient's immediate and long-term health risks and establish goals and actions to decrease risks and improve health through a personalized health plan. (Ralph Synderman MD, 2013) Users interact with an ad two times more frequently when it is relevant to them (Magna Global Media Economy Report, January 214 Programmatic buying stands to disrupt healthcare marketing (October 2014), e.g., Nielsen NCS and Crossix Optimize TV Buying - link TV viewership and fully anonymous prescription purchase data to help marketers identify the most effective television programs for advertising and to measure the reaction with actual retail sales data. While pharma’s digital investment is predicted to grow to $1.47 billion in 2017 from a projected $1.18 billion in 2013, it is currently projected to grow at a much slower pace (5.9%) when compared to other industries. The automotive and consumer packaged goods verticals’ digital spends, for example, are projected to increase annually by 13.1% and 12.6%, respectively. (eMaketer, http://www.emarketer.com/Article/Healthcare-Pharma-Digital-Spend-Rises-Outlays-Stay-Low/1010296, October 14, 2013. (October 2014), e.g., Nielsen NCS and Crossix Optimize TV Buying - to help marketers identify the most effective television programs for advertising and to measure the reaction with actual retail sales data.