What trends will impact marketers as they turn to partner more with data-driven insights services and tech companies?
SVP, networks and analytics, Rx Edge Media Network
The accelerating scope of geolocation marketing, plus advancements in programmatic technology, will improve pharma marketers’ ability to reach the most relevant audience.
In our own world of location-based media, we see trends pointing to robust activity around the use of geofenced data combined with behavioral insights and predictive analytics.
Pharma marketers who partner with companies that can leverage these tools will be able to reach deeper into patient populations across their digital journeys as well as their offline footprints.
Because it is a destination for consumer health products and Rx transactions, the pharmacy will increasingly become a centerpiece for these types of marketing initiatives.
The faster speed and expanded connectivity promised by emerging 5G technology will create even more opportunities at the intersection of digital and place-based strategies.
Founder and CEO, W2O
At W2O, we see three trends cementing the relationship between marketing and technology.
First, data-driven targeting and alternative media buying models changed our approach to reaching audiences and measuring success. Marketers must be experts in “martech” stacks their brands depend on. From DSPs and DMPs to marketing automation and web analytics, marketers must make data and systems part of their jobs every day.
Second, healthcare marketers must look to integrate data into models where they can access leverageable insights. No longer will the inside-out model of advertising sustain healthcare brands. Marketers must use an outside-in mentality that triangulates data to give them targetable attributes and custom lexicons across each behavioral segment.
Finally, finding more precise ways to target audiences will drive custom content designed to influence behaviors within the micro-moments that drive action. One-size-fits-all advertising will give way to campaigns that are created digital-first and adapted for traditional channels later.
What must marketers consider as they increase partnerships with companies that collect and analyze customer data?
President and cofounder, Health Accelerators
Personal data are essential to run modern businesses, so their high value makes them attractive to criminals.
For businesses of all sizes it’s not a matter of if they will experience a data breach, but when. There is an explosion in ways that bad actors access personal data, and the burgeoning cybersecurity industry is tasked with responding to these threats.
A silver lining is that people working in healthcare understand that data privacy and security are significant issues requiring their attention.
Because biopharma companies and many of their suppliers look to third-party service providers for data, they too have increased scrutiny and accountability for collection, storage and proper use.
Data providers are now subject to audits and onsite inspections by their health customers, and the threat of hefty fines and negative PR for breaches has prompted chief privacy officers to develop contingency plans and training for such an event.