In this video, DeepIntent’s CEO and co-founder Chris Paquette shares how healthcare marketers can unlock the full potential of data-driven advertising and optimize their digital campaigns with real-world clinical data.
Hi. My name is Chris Paquette. I’m the founder and CEO of DeepIntent, here to talk to you today about what’s possible at the intersection of real-world health data and programmatic advertising.
But first, it’s important to know who we are and why eight out of ten leading pharmaceutical brands work with DeepIntent. We have built the first and only DSP designed specifically for healthcare marketers to plan, activate, optimize, and measure their campaigns — all within a single platform.
But what fundamentally makes us different is that we have built a team of healthcare and programmatic advertising experts who have invested over five years building the only platform that can ingest clinical data and utilize these data safety and in a privacy-compliant way for targeting, activation and measurement.
In a short time, our platform has emerged as the industry leader for digital healthcare advertising. But the path to get here wasn’t simple. Today I’ll walk you through how we harnessed the power of real-world health data to make our programmatic platform the most effective and efficient in the market today.
For healthcare marketers, unlocking the full potential of data-driven advertising has been difficult. Compared to counterparts in other verticals, such as e-commerce and CPG, the programmatic toolset has been lagging for healthcare. To no surprise, a lot of that comes down to four key reasons:
- First, the healthcare data ecosystem has suffered from long history of data siloing and proprietary systems designed to make it difficult to combine data and extract insights from connected data sets;
- The second problem is that this data, when available, is often lagged, which is why many incumbent measurement providers struggle to deliver timely insights for marketers;
- Third, the sensitivity of healthcare data carries regulatory barriers that, using conventional tools, prohibit analysis at the level of granularity needed to yield precise insights into what’s working or not working for your campaigns;
- And last, a lack of integration between marketing platforms and measurement has made campaign optimization difficult, costly in time, and nearly impossible to automate at the same depth other types of businesses enjoy today.
The opportunity we see is the opportunity of convergence. Over the past several years, the healthcare data ecosystem has been undergoing a transformative change. We sit today at the verge of an explosion of new consumer health and digital health technologies, being built by more companies, and funded by more VCs than ever before. In fact, during the first half of 2021 alone, investment in digital health companies was up to nearly $20 billion dollars, more than what was invested in the entire year of 2020.
In parallel, new solutions, such as those created by our partner Datavant, have made health data more liquid — meaning its easier and safer to transfer, join and analyze large cohorts of health data in a privacy-safe way.
And then on top of that, new federal regulations have begun imposing penalties on companies that discourage the interoperability of their data and platforms with third-party systems, which in turn enhances patient access to their health data.
When you sum this all up, there’s only one conclusion: more data and less friction equals more opportunity for marketers to engage with consumers, patients and providers in a more personalized and more effective way.
So, taking a step back, we asked ourselves a very simple question. Why should healthcare marketers be relegated to using tools and solutions that are second-rate and down right inferior to what other marketers can do. With the tools we have today, such as privacy-safe artificial intelligence, why can’t we solve this problem and unlock the combined power of real-time health data and programmatic advertising?
In the early days of DeepIntent, we believed wholeheartedly that by using privacy-safe AI and real-time bidding signals we could drive remarkable gains along core business metrics like new prescription starts and patient adherence while driving better efficiencies in reach and cost.
Ultimately we saw this as an opportunity to improve our ability to personalize the messaging for each individual consumer, patient, and provider by using AI to make campaigns smarter by selecting the ad that has the highest chance to engage and change behavior, ultimately yielding better performance against your core business KPIs.
So let’s ask the question: what can you do today to take advantage of the trends and innovations happening in the broader health data marketplace?
Allow me to introduce you to DeepIntent Outcomes™, a patented extension of our award-winning healthcare DSP that allows you, the healthcare marketer, to measure and optimize your campaigns with the speed and intelligence of near real-time health data and AI.
Outcomes is an ROI accelerator, giving our clients the ability to see and act on granular insights about high-value audiences and their clinical behaviors.
When marketing to patients, reaching a relevant audience is of critical importance to ensure your campaign is both engaging and effective. So, most savvy clients rightfully focus on metrics such as audience quality and cost per verified patient to measure their campaigns. Like any intelligent system, AI does best when it can learn from large amounts of data. In this specific case, a patient campaign using DeepIntent’s DSP piloted our outcomes optimization algorithm, the only algorithm of its kind to adapt and hone your marketing to enhance performance along clinical and health audience performance metrics. This algorithm works on any audience run on the DeepIntent DSP, including third-party audiences and DeepIntent’s own condition-based Patient Modeled Audiences.
As you see here, there’s a period of time where our AI is learning and scanning for patterns in the types of creatives, publishers, geos and demographics that drive the highest performance for the marketer’s KPI. In this case, within weeks DeepIntent Outcomes drove a 26% higher audience quality and 24% lower cost per verified patient — all automatically with zero intervention or changes made by the media buyer. This media buyer’s saved time was re-invested into presenting these insights to other colleagues, who ultimately used these insights to make changes to their media plan across other channels.
That same effect can be seen for HCP campaigns as well. In this specific case, we had a respiratory client who observed an increase in the weekly prescribing rate across a group of targeted physicians by 75% over the course of the campaign. Not only did these physicians write more, but the client also saw an average weekly decrease in the cost per script by 34%.
What you see here is simple proof that AI, real-time clinical data, and programmatic can be harnessed to drive tangible business results with higher efficiencies.
But what hasn’t been thoroughly explored to date is the combined effect that HCP and patient campaigns have on each other. It’s been long thought that marketing to both audiences amplifies the effectiveness of the overall promotional activity. Through a study commissioned by a client using DeepIntent Outcomes, we were able to build a case-control study to understand that relationship. By analyzing media exposures and claims records for tens of thousands of patients and providers, we determined that when both the patient and provider engage with an ad prior to a clinical encounter, double-digit lifts in performance are attained across key script performance metrics. This study was one of the first of its kind run across a programmatic campaign and proved the amplified effect that HCP and patient marketing have on each other.
So what we’ve proven at DeepIntent is that the combination of data, programmatic, and AI together drives real results for our clients. But most importantly of all, we feel strongly that the work we do and the platform we built is solving a real need felt by the most important stakeholder: the patient. In a survey we conducted earlier this year, we asked patients around the country about how they felt about pharmaceutical advertisements. To our surprise, one out of three patients reported that they did not feel well informed about the treatment options they were ultimately prescribed. It also concluded that patients are more likely to adhere to a recommendation from a doctor if they had previously seen an ad about the treatment.
To us, we saw our mission reflected in these answers. Helping patients prepare to have informed conversations with their providers is a win-win, resulting in stronger health outcomes for patients while dramatically improving the ROI from the billions of dollars spent annually on new drug research, development, and marketing.
It’s with real-world data and real-time programmatic advertising that DeepIntent is measurably improving the lives of patients, educating healthcare providers of new to market treatments, recruiting patients into clinical trials, and ultimately creating new opportunities for our clients to reach these audiences in more personalized and more engaging ways. And it’s with that commitment and that purpose that DeepIntent will continue innovating, pushing our industry forward and driving positive outcomes for patients and our clients.