Pharma companies may have been a little slower to embrace connected TV (CTV) advertising than other verticals, but the industry is certainly making up for lost time. By now, the return on investment (ROI) of CTV is crystal clear. In fact, analytics consultancy Analytic Partners found that CTV ROI is 30% higher than that of other channels, despite accounting for just 7% of ad budgets.
In addition to data-driven programmatic targeting, CTV offers pharma advertisers faster, more accurate campaign measurement and the ability to optimize those campaigns in-flight. Read on for three CTV success stories from DeepIntent clients who have increased new-to-brand prescriptions (NBRx) and verified patient reach while decreasing cost-per-verified patient (CPVP).
Comparing CTV and Linear TV
Does CTV give pharma advertisers a more efficient way to reach precise, clinically-relevant audiences? To answer that question, we compared CTV and linear TV with an analysis that combined recent campaign data, automatic content recognition (ACR) data, and DeepIntent Outcomes™.
Compared with linear TV, CTV drove 82% higher on-target reach and 50% higher audience quality. However, it’s worth noting that the CTV ROI didn’t happen at the expense of linear TV. The two channels shouldn’t be viewed as competing with each other because they’re complementary. Depending on the condition, CTV delivered up to 30% higher incremental reach to qualified patient audiences.
CTV ROI: Generating Higher NBRx
As its agency of record, Matterkind sought to maximize the addressable media investment for one major pharma company and prove its efficacy in driving new-to-brand prescriptions (NBRx). Matterkind ran an integrated campaign that focused on display, online video, and CTV, with Outcomes optimizing media in real time.
CTV outperformed the other two channels, delivering 2X higher NBRx than online video and 2.5X higher NBRx than display. However, Matterkind and its client found CTV ROI strongest when the channel worked with the others. Combined exposure to all three delivered six times the NBRx rate vs. standalone display.
CTV ROI: Growing Verified Patient Reach
For one biotechnology leader, CTV ROI came in the form of verified patient reach. The brand created campaign-specific Patient Modeled Audiences — cord-cutters with a high likelihood of suffering from a specific skin condition — and activated them on CTV and online video.
Outcomes algorithms optimized the campaign toward verified patient reach, which increased 3X on CTV while CPVP decreased by 37%. Like Matterkind, the brand found CTV even more effective alongside online video. Together, the two channels drove four times higher verified patient reach at a 35% lower CPVP.
How Sun Pharma and Fingerpaint Decreased CPVP by 83%
Looking to raise awareness for ILUMYA®, Sun Pharma and its consumer agency of record, Fingerpaint, activated a multi-channel campaign across CTV, online video, and display video. Outcomes’ algorithms auto-optimized campaign parameters in-flight, increasing verified patient reach by 5.7 times. At the same time, CPVP decreased by 83%.
On CTV, Sun Pharma and Fingerpaint saw the strongest verified patient reach on Pluto TV, Samsung, MSN, and Hulu. On the latter in particular, the machine learning algorithms helped decrease CPVP by 66%.
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