The Future of Pharma Advertising: How Far Away Is Platform Convergence?

As Evan Giamanco Senior Vice President of Ad Strategy and Innovation at Warner Bros Discovery asserted the current state is quotmessyquotOne of the big challenges in making convergence a reality is that despite the changes in how viewers consume television advertising spends for traditional linear buys data driven linear and CTV remain in separate buckets According to eMarketer the linear television advertising bucket is expected to drop to 6131 billion in 2023 a low that has not been seen since the recession in 2008 while the CTV ad bucket barely a consideration that year will reach 2509 billionBut it39s not just how it39s bought it39s how it39s measured While more and more television buying is datadriven there is yet to be a universally agreed upon alternative currency to the traditional Nielsen household panelsquotPeople are really comfortable using traditional forms of measurement and methodologyquot noted Jen Loga Vice President of Media Measurement and Analytics at DeepIntent However comfort does not necessarily translate into effectively reaching one39s target audienceFrans Vermeulen Vice President of Strategy and Market Development at TransUnion added that it is also important to understand how identity plays into measurement The more complex the data sets the more important it is to understand what is behind that data He points out that traditional Nielsen panels have provided data as to households reached but not if or who in that household is paying attention to the televisionEmerging newer players that work off census digital and offline data sets include VideoAmp iSpot and Comscore Theoretically that gives access to more data which can improve targeting the right customer at the right time in the right place However it can also add to the current quotmessinessquotIt can get even more complex when it comes to pharma advertising which has its own intricacies quotWithin pharma not only are you managing against reach and frequency you have HIPAA compliance another layer of data you have to unify across multiple channelsquot Loga notedVermeulen expressed hope that with partnerships such as the one TransUnion is entering with Datavant a healthcare provider can help with attribution and answer the question quotDid someone actually take an actionquot rather than just quotDid I reach the right kind of personquotThis is something that will be integrated into DeepIntent39s platforms at the same time the company begins to offer a new buy model that will pay per verified patient reach ensuring advertisers are reaching the right people at the right frequencyMany of the larger media properties such as Warner Bros Discovery and NBCUniversal have a stake in both linear and streaming television and are taking their own steps towards convergence According to Brendon Garrone Vice President of Programmatic Sales at NBCUniversal the need to drive value for their marketers is clear so they created one transactional platform designed to make it easier to buy multiple screens and platforms against an advanced audienceDan Aversano Senior Vice President of Data Analytics and Advanced Advertising at Televisa also sees ease of use as key to true convergence quotHow do we make it easy to combine all of that fragmented viewing fragmented distribution with common data common analytics common measurement and hopefully one day some semblance of common compliance and privacy and pull all that supply back together and make it easy to buyquot he askedIn order to make that happen as Amit Chaturvedi Chief Operation Officer at DeepIntent said quotAll of the pieces of the ecosystem have to talk to each otherquotThat may not be happening just yet and there may not yet be a universally agreed upon alternative currency but the consensus is that convergence is the goal It is undoubtedly the solution to making things easier and more streamlined for the buyer and the seller although as Vermeulen pointed out even when that happens quotYou39re never going to be 100 sure all the timequotOf course that39s been true of advertising since the beginningClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillageorgMyersBizNet Inc management or associated writers

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The Future of Pharma Advertising: How Far Away Is Platform Convergence?

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Joanne Tombrakos

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

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