Will personalization cut ad spending?
What are the implications of personalized medicine for media? Do more targeted therapies mean a precipitous drop in ad spend, or will spending migrate to different channels?
General Manager, ICC Lowe Redshift
The beauty of personalized medicine is the paradigm shift from treating disease to maintaining wellness—moving medicine from a reactive to a proactive discipline and empowering patients to make lifestyle and health choices influenced by their genetic profiles. On the professional side, more targeted therapies will mean more defined audiences, and more diverse segments. Media selections will be based on the ability to deliver more targeted, educational messaging. Messaging will not only be about treatment, but also reimbursement, regulations and restrictions. Everyone will be connected via cross media multi-channel strategies. For the consumer, social media will play a critical role in sharing information. Access to information via multi-channels will help shift the dynamics between patient and providers.
Director of Channel Marketing, Ogilvy CommonHealth
Media is advancing at a rate that is practically personalized media. In today's post-digital age, we have the ability to connect and engage in new and more personalized ways. Spend in mass media channels is going to decline. This new world of more-focused brands will require more integrated plans that can use the right mix of tools. Advertising, direct marketing, CRM, and activation will all need to be working from the communication strategy. A channel-neutral approach and a patient-centric plan will be critical. The marketing of targeted therapies will require brands to look at budgets more holistically, and to look for a solution that is integrated and ensures that the channel plan overall will be greater than the sum of its parts.
Media Director, CAHG
We believe physician adoption of personalized medicine will have a positive impact. A recent landmark study of US oncologists, cardiologists, and PCPs (n=800) conducted by CAHG found that only 8% are “very familiar” with advances in personalized medicine. So, there is a need to better educate physicians about targeted therapies. And while a targeted therapy may be appropriate for a smaller number of patients, the same number of physicians will need awareness of this new therapy. Media at appropriate frequency and spends and in a multi-channel format play a big role in addressing these needs. Spending will rise due to the need for print, digital, and mobile media, since each has a level of unduplicated reach and influence on physician behavior. New entrants, such as molecular diagnostic companies, will further drive spend.
VP, media director, Regan Campbell Ward McCann
Over the last several years, professional print advertising spend levels had been declining but have leveled off. This is primarily due to smaller budgets. Another factor is the introduction of digital and mobile channels. Historically, when a promotional channel is no longer available, those budgeted dollars have not been reallocated to non-personal promotion. HCPs will still need to be made aware of targeted therapies. Journal promotion can accomplish this. Mass promotion can be supplemented by more targeted programs. For consumer promotion there may be a drop in ads because micro-targeting is possible. The information available about consumers and patients in the healthcare arena is abundant.
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