In the ever-evolving world of digital advertising, marketers are constantly looking for the next opportunity and channel. Connected TV, in particular, is quickly gaining traction with a 49.5% increase in ad spend from 2020 to 2021. Here are a few reasons why:
- Incremental reach
- Segmentation & targeting
- Positive consumer experience
- Cost efficiency
- High consumer engagement
- Proven ROI & measurable outcomes
Large entertainment and retail brands have been quick to implement CTV into their marketing plans. However, the pharmaceutical and healthcare sectors have been slower to adopt. This leaves a huge opportunity for brands to pave the way in an unsaturated and underutilized space.
Reach Niche Healthcare Segments
Traditionally, linear TV has been a core method used to reach broad healthcare audiences, often with a “spray and pray” approach. By using 3rd-party data partners, such as PulsePoint, advertisers can identify highly specific and reliable healthcare patient and provider audiences while maintaining HIPAA compliance. One to one consumer matching is overlaid on top of CTV buys driving campaigns directly to the core audience. For niche consumer demographics, this audience-first approach reaches high-value, addressable segments without overspending on mass media buys. The content relevancy then enhances the user experience by serving relevant content in an engaging, large screen format.
Build Incremental Reach Across Media Channels
High quality, long-form video content is the memorable media needed to engage pharmaceutical audiences. However, consumers are fragmented across various screens and platforms. Programmatic CTV allows health and pharma brands to reach audiences across channels, staying top of mind and driving incremental reach. CTV bundled with linear TV and other digital programmatic buys work together to reach unique audiences as well as meet consumers across channels in a non-invasive way. Cross-channel integration platforms, such as The Trade Desk, can ensure you are reaching the right audience with the appropriate frequency, avoiding any siloes or ad fatigue.
Drive Health-Focused Outcomes with Measurable Results
At Coegi, data is the core of what we do. CTV brings that data-driven aspect to the former wild, wild west of television advertising. One of our subject matter experts in the healthcare and pharma space, Colin Duft, stated, “CTV is an untapped space eliminating barriers from a cost to market perspective. TV is now an accessible market for pharmaceutical players.” With CTV measurement capabilities, advertisers can now validate this channel and pull detailed insights on campaign impacts. There is a greater ability to connect TV campaign results to business goals and outcomes.
HIPAA Compliant Targeting & Consumer Trust
Healthcare advertisers are often deterred by privacy laws and concerns when it comes to targeting individuals or sensitive patient sectors. However, consumers are becoming more open and are even expecting personalization from brands. A recent study showed that after direct mail, TV and radio ads are the most highly trusted media formats for advertising. A TV ad for a specific health condition can feel less invasive, yet still applicable and relevant. With third-party data partners, personal information can be de-identified and used for HIPAA compliant targeting. As an additional resource, the NAI provides a guide to help determine whether targeting efforts or data segments are considered sensitive: https://www.networkadvertising.org/sites/default/files/nai_healthtargeting2020.pdf
Implications for Healthcare Brands
- The time is now for CTV
- This is an opportune time for health-focused brands to capitalize on the CTV space. Users are cutting the cord, building an increasing demographic of users that can only be reached through streaming TV.
- Precision buying optimizes TV ad budgets
- Bulk linear buys can be replaced with efficiently targeted ad placements.
- Measurable results empower brands
- Advanced demographic information and data can be gathered from CTV ads to optimize campaigns, creatives, and audience sectors giving brands actionable insights.
Written By: Colin Duft, Account Strategy Director