For pharmaceutical marketers and other health care communicators who are seeking to change patient behaviors that lead to health outcomes, there are some foundational beliefs we all hold dear — namely that we have the power to transform the doctor-patient relationships, overcome personal barriers to taking medication as prescribed and improve brand revenue and profitability. While these goals still stand, the way we go about solving for them are undergoing a radical transformation.
No longer are static email streams, web pages and one-size-fits-all messaging going to reach a critical mass of sufferers, inspire new behavior and disrupt bad health habits. The big ideas and insights that informed disruptive advertising of the past no longer work. Going forward, the big ideas that lead to big transformative relationships will be born from Big Data Look at all the market leaders today from Amazon to Apple to Google … and the list goes on. Big data has transformed the way market leaders conduct business, manage their customer relationships and provide sufficient personal value to achieve a quantum leap, in a defendable way, to own market-transformation leader status.
Big data, now, is the engine by which successful companies are bringing sustainable competitive advantage to market, and it comes in increasingly defined and strategically valuable forms. The key is to understand that disruptive technologies must be framed against marketing challenges, not technology ones. For example, the most common marketing challenges for pharmaceutical brands are: (1) preparing a market for a new drug’s launch, (2) accelerating the drug’s uptake immediately at launch and (3) helping patients start and stay on therapy. These must now be enhanced with a heightened level of personalization, addressability at scale and fractional attribution to understand what campaign elements are driving desired behavior change at the individual level.
A tangible example is early-adopter pharma brands that deploy fully connected CRM solutions that integrate with the advanced Ad Tech stack. Leveraging the reach and scale of addressable audience platforms, deploying programmatic and audience media buying, combined with advanced analytics finally unlock our ability to manage individual Rx buying processes at scale and ultimately achieve great profit and revenue at an individual and campaign level. That is more with less at a much greater speed to sales volume. That’s the quantum leap.
Finally, health marketers must get beyond incremental advancement based on what patients say they want. No focus group will tell you what the future looks like — current customers and prospects will never know this. Health innovators of the future need a new playbook that harnesses trial and error with fast, iterative learning, an intrinsic search for success with new disruptive technologies and a way to spot markets that value the characteristics of new big data capabilities.
Click here to watch an on-demand webinar about Merkle’s Innovation Playbook for Life Sciences Companies — how to identify, harness and actualize the Big Ideas that are born from Big Data.