Digital health data is the oil and programmatic advertising is the engine. Together, they supercharge campaign results, improving timeliness and relevance as algorithms constantly auto-optimize everything from frequency to audience. 2023 is fast approaching and we see all the top healthcare advertising trends continuing to accelerate that car.
Today’s healthcare marketers have access to more data than ever before. They also have access to the advanced technology necessary to make that data actionable. Between innovations in data and measurement, the evolution of connected TV (CTV) advertising and the privacy landscape, and the deprecation of third-party cookies, 2023 will be pivotal for our industry.
Don’t just take our word for it. We turned to top pharma and ad-tech industry leaders to get their predictions about the healthcare advertising trends that will shape the next year.
Read on for a sneak peek of What We See in 2023, linked at the bottom of this post. We’ve included insights from our own leadership as well as that from Fingerpaint, FreeWheel, Health Union, ID5, Klick Health, LiveRamp, Magnite, Medicx Health, Privacy Hub by Datavant, Roku, and the VAB.
CTV’s continued explosive growth
Offering data-driven programmatic targeting and advanced measurement capabilities, CTV is one of the perennial healthcare advertising trends. In fact, programmatic CTV ad spend is projected to total nearly $75 billion in 2023, a 19% increase over this year.
It makes sense. The overwhelming majority of U.S. households have at least one CTV device. However, it’s not about CTV’s popularity; it’s about CTV’s effectiveness. According to our own campaign data, CTV delivers 82% higher on-target reach and 50% higher audience quality.
In 2023, we predict the biggest healthcare advertising trends in CTV will include more widespread programmatic buying and adoption of Free Ad-Supported Streaming TV (FAST), advertisers expecting deeper audience insights, and more.
Improved relevance and measurement
The pharmaceutical industry is unique in every way. In many industries, relevant ads create new customers, but pharmaceuticals are among the only products people don’t choose for themselves. What’s more, relevant pharma ads can help people receive important and potentially life-saving information about treatment options and clinical trials.
With more actionable and unified data, pharma brands are able to coordinate HCP and patient campaigns. When both parties receive relevant, complementary information, they’re able to have more informed discussions about the patient’s health and wellness. Similarly, advancements in measurement enable pharma brands to understand the impact of their ads on script lift, our industry’s ultimate metric.
In 2023, we predict a hyper-focus on how HCP and patient campaigns influence scripts, greater investment in programmatic media as marketers prioritize integrated campaigns, and more.
Looking for more healthcare advertising trends that will shape 2023?
Click here to download What We See in 2023 to read more about CTV and improved relevance and measurement as well as privacy-safe data innovation and cookieless reach.