This Month in Data-Led Marketing
Pharmaceutical marketing is often viewed through a lens of preconceived notions by many marketers. Most of these notions are wrong.
While Pharma isn’t as shiny as Retail, CPG, or Gaming, it is an incredibly valuable vertical. Pharma is a unique industry, offering great opportunity as long as you can find and reach your audience.??And, that's where the challenge comes in.
What's the solution? Behavioral Science! Even the name of it sounds perfectly crafted for Pharmaceutical Marketing.
Over the next several weeks, Response Media will share how Pharmaceutical Marketing can benefit from a behavioral science, data-led approach in a three-part series. Each part will help illuminate how to scientifically identify what patients SAY they will do and anticipate what they will ACTUALLY do. Our series will share thought leadership, examples, and case studies, making this a must-read series.?Read the first article here.
Stay tuned!
Samantha Iodice
Senior Audience Strategy Manager
What Consumers Find Persuasive in Online Reviews
WHAT HAPPENED: Consumers value online reviews: As many as 98% report that they rely on reviews to inform purchase decisions, with some consumers listing it as the number-one factor they consider when contemplating a purchase — even above a product’s description. Academic research published in the Journal of Retailing analyzed 111,728 online purchase reviews and conducted seven experiments involving more than 2,000 individuals. We found that the persuasiveness of each loyalty expression depends on how frequently the item in question is likely to be purchased. Read more...
WHY IT MATTERS: Regardless of industry or sector, non-personalized and broadcast emails provide little to no value. To create meaningful connections with customers, marketers must invest in personalized emails that are segmented for the right audience based on customer behavior and previous interactions with a brand.
What This Year’s COPPA Update Means for Marketers
WHAT HAPPENED: The Federal Trade Commission finalized changes to the Children’s Online Privacy Protection Rule to set new requirements around the collection, use and disclosure of children’s personal information and?give parents new tools and protections to help them control what data is provided to third parties about their children. The final rule requires parents to opt in to third-party advertising and includes other changes to address the emerging ways that consumers’ data is collected and used by companies, and particularly how children’s data is being shared and monetized. Read more...
WHY IT MATTERS: Brands must now obtain verifiable parental consent before collecting personal information from children for targeted advertising. The rule change limits the ability to monetize children's data without explicit parental approval. Additionally, the FTC has imposed stricter data retention policies, requiring children's personal information be retained only as long as necessary for its collected purpose. Marketers must reassess their data collection and advertising strategies to ensure compliance and maintain trust.
Creating Effective Pharmaceutical Marketing
WHAT HAPPENED: Pharmaceutical marketing is facing its most challenging era due to a convergence of factors, including stringent regulatory scrutiny, rising consumer skepticism, and the rapid evolution of digital healthcare engagement. With increasing restrictions on direct-to-consumer advertising and tighter compliance requirements, marketers must navigate a complex landscape while maintaining transparency and credibility. The digital transformation of healthcare has also introduced new hurdles, such as managing misinformation, adapting to changing privacy laws, and engaging healthcare professionals and patients across diverse online platforms. Read more...
WHY IT MATTERS: Driving greater impact in pharmaceutical marketing using behavioral science is a proven methodology to increasing efficacy, benefiting both brands and patients. Behavioral Science in marketing is not a new concept, but how it is used can greatly affect the performance and success of your strategy.
Predictive Marketing: Putting Data to Work
WHAT HAPPENED: Effective predictive marketing is only possible with an accurate foundation of data and identity from which AI can extract insights. Brands will almost always start with their first-party customer data, and then enrich that with second and third-party data from trusted partners and providers. Measurement and attribution are essential for predictive marketing, as they allow you to gauge how accurately you predict customer desires. When this data is fed back to train AI models, the result is continuous optimization, allowing the predictive model to become increasingly intelligent and precise. Read more...
WHY IT MATTERS: AI can help meet consumer’s expectations in an increasingly predictive world, but it’s not the only thing your brand will need to succeed. Exceptional predictive marketers have an AI-ready data foundation, augmented intelligence, attribution loop, and an integrated infrastructure throughout which AI should increasingly be woven. Focus on these things and your brand will be in a great place to ride the next big wave of business transformation and join your customers in the predictive world.
How Pharma Brands Can Reach Consumers in a Fragmented Media Landscape
WHAT HAPPENED: On an annual basis, pharma companies spend around $6 billion advertising directly to consumers, many of whom are increasingly hard to reach. The industry is undergoing widespread change with the rise of programmatic advertising and shift from linear to addressable, data-driven marketing. While brands in other verticals may pursue platforms and programs to reach the largest audiences, that isn’t the most prudent approach for pharma companies when it comes to advertising. Read more...
WHY IT MATTERS: It’s become increasingly important for pharma brands to find the right target audience(s) and where they live in our evolving, digitally-dominant media ecosystem. Pharma marketers must develop a well-defined audience segmentation strategy and use a mix of behavioral science and data-led experiments to deliver the right content to the right consumers at the right time.
Want to learn how Response Media leverages data-led marketing to grow brands? Contact Marty Kahnle for more information, and check out our website for more insights.