Is Connected TV a "Must Buy" For Pharma Marketers, or Merely Incremental?

And that39s led to a critical question Should CTV continue to be considered incremental reach or a quotmust buyquotWhen answering that question some pharma marketers are definitely in the mustbuy camp quotCTV is experiencing a huge amount for growth right now and is becoming a core component in some pharma campaignsquot said Andrea Palmer President of Publicis Health MediaData supports that CTV is expected to grow 144 in 2023 and linear will decline 63 according to IAB projections However Palmer sees the most value in a combination of the two quotWhile linear can drive broader awareness CTV shines when it comes to delivering targeted reach stronger measurement and premium inventoryquot she saidCTV clearly extends reach those who watch are not necessarily the same people who watch linear television according to Amit Chaturvedi COO of DeepIntent quotThe scale of CTV is larger in terms of number of householdsquot he explained quotThe number of hours consumed on CTV is larger ad targeting is more robust performance measurements are more quickly available and optimization is faster and smarterquot he saidYet the term quotincrementalquot appears hard to shake Sure with CTV pharma can target anonymized audiences with relevant advertising an obvious benefit to pharma marketers whose goal is to have scripts written But Chaturvedi recognizes it is still easier to implement the linear portion of any buy quotThe execution on linear TV is infinitely simpler and the currency Nielsen uses to evaluate it is more establishedquot he notedLynda Gordon Vice President of Global Data and Analytics for dentsu health said that what marketers are buying with CTV needs to be properly understood quotIn compliance with privacy regulations the target audiences for pharma campaigns are not lists of actual verified patients but are 39lookalike39 audiences built based on demographic and lifestyle data attributes that are associated with analysis of verified patientsquot she explained quotOnce a campaign goes into market the exposed audience is matched to an actual medical claims audience in a privacysafe data clean room using anonymized patient IDs in order to validate the quality of the lookalike model used to build the audiencequotMost target audiences for pharma campaigns match back to verified patients at a amplt10 rate depending on the therapeutic area and disease statequot she continued quotThe 39unmatched39 portion of the audience is still a valuable target as it may well be reaching individuals who have not yet been diagnosed but are interested in learning more about the disease39s state This integrated approach of reaching verified patients through lookalike modeling and potential atrisk patients provides the benefit of both privacy management and valuable information sharing to reach individuals with information that may be important to themquotSome technology platforms including DeepIntent have mitigated concerns that pharma buys are compliant with the Health Insurance Portability and Accountability Act HIPAA In addition Chaturvedi noted quotClose to a billion dollars of the 14 billion US pharma media market is CTV already up from almost zero three years agoquot That represents significant change in a relatively short period of timeWhile targeted viewers are key wider audiences have value too quotThe privacysafe data practices used to reach relevant audiences for pharma company campaigns are adding value to health media by creating a greater focus on patient needs for informationquot Greg Reilly President of dentsu health explained quotWhile this addressable targeting approach will continue to be refined to drive up relevance there is likely to always be a role for broader awareness campaigns that reach larger audiences with key messages and informationquotAccording to Statista the share of US TV households without a traditional TV subscription has reached 53 and there39s a growing percentage of GenZ and younger Millennials who have never had cable As audiences shift further away from linear it is possible that the term quotincrementalquot will change as well Perhaps one day marketers will not see any difference between linear and CTV And television will just be television no matter what the platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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Is Connected TV a "Must Buy" For Pharma Marketers, or Merely Incremental?

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Joanne Tombrakos

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Is Connected TV a "Must Buy" For Pharma Marketers, or Merely Incremental?

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