Maybe… but what really matters is the quality of the audience… Successfully reaching and engaging the optimal physician and often more importantly, potential consumer/patients, is becoming increasingly critical to the success of a brand.
Pharmaceutical marketers face special challenges going into 2024, including a complex and an even more highly regulated commercial environment, heavy competition within certain therapeutic areas, physicians increasingly difficult to access, healthcare inequity and payer access, just to name a few.
More than ever, finding and marketing to the right set of consumers requires specific insights about your audience, including what they’re looking for and the best ways to reach them along their healthcare journey. One approach is to use a look-alike model built on diagnosed patients or HCPs within a specialty of interest requiring consumer demographics and attributes as the features to help the model “find” the right targets. While this technique can be effective, it can run awry. These audiences often degrade quickly when scaled because the data used to create the model may be correlated, but not actually related, to the actual condition or treatment of interest. As a result, additional CPM costs are spent on consumers (even you!) who have no interest or need for your brand and may be over-exposed to ads for products of little value or interest to them.
A newer, more effective approach is to use real-world healthcare data to build your audience, but how do you do this in the most privacy-safe way? At Medicx | An OptimzieRx Company, we advise our clients on audience quality with a proven process.
So, does size really matter when it comes to reach? Medicx | An OptimzieRx Company can prove it doesn’t. You don’t have to rely on an unsustainable, spend-more-to-reach-more advertising model. Instead, build your omnichannel marketing campaigns on a foundation of integrated and diverse high-fidelity data. This ensures that the audience you are targeting and the messages you are delivering are engaging and helpful in getting the right treatment to the right patients at the right place along the patient journey.