How to Acquire New Customers for Business Growth in 2024?

Share: Share: Big players in the pharma industry, like Pfizer and Merck, are now turning their attention to direct-to-consumer (D2C) channels. This shift has been fast-tracked by the COVID-19 pandemic, which has forced people to rely on digital channels for their healthcare needs. As a result, pharma companies have had to rethink their marketing strategies and focus on targeted digital campaigns instead of traditional mass marketing techniques. David Ricks,  Lilly’s CEO, has recognized the importance of digital transformation in a statement saying, “Our goal is to relieve some of those burdens by simplifying the patient experience to help improve outcomes.”  This sentiment is echoed by many executives in the pharma industry, highlighting the need for a shift towards a more patient-centric approach.  As with any industry, the success of digital initiatives in pharma hinges on precision and relevancy in marketing efforts. In this case, programmatic advertising is the key to success in digital pharmaceutical marketing. Let’s explore why. How Programmatic Advertising Works for Pharmaceutical Companies? Programmatic advertising is buying and selling digital advertisements through automated technology. The process involves using data to target specific audiences, purchasing ad space through real-time bidding, and automatically optimizing campaigns for better performance. For pharmaceutical companies, this means a more efficient and effective way of reaching potential customers for pharmaceutical companies. Targeting the Right Audience Pharma companies heavily target specific demographics and behaviors when advertising their products. Like, A company promoting a new cholesterol medication would want to target individuals over the age of 45 who have a history of high cholesterol.  Programmatic advertising uses data to identify and target these niche audiences. A specific age group, geo-location, or even language preference can be selected to ensure the right people see the ad. If a specific geo-location has a higher prevalence of a particular medical condition, the ad can be targeted specifically to that area. The same goes for demographics like age or income level. Contextual targeting also ensures ads are shown in relevant contexts, such as medical websites or fitness apps. This precise targeting leads to higher conversion rates and lower costs for pharmaceutical companies, as they only pay to reach their desired audience. Data Privacy and Security in Programmatic Advertising The pharmaceutical industry is heavily regulated in terms of data privacy. Medical information is considered highly sensitive and must be protected at all costs. Programmatic advertising considers this by adhering to strict regulations and using secure platforms and encryption. Pharma companies can have peace of mind knowing that their customer’s personal information is safe and secure while being used for targeted advertising. For example, VenziMedia is a trusted platform prioritizing data privacy and security for its pharmaceutical industry clients. Real-Time Bidding (RTB) and Automated Optimization Talking about RTB is a process in which ad impressions are bought and sold in real time through an auction-style marketplace. Pharmaceutical companies can bid on specific ad space that reaches their target audience, ensuring they get the most value for their money. If a bid is not successful, the advertiser does not pay. This method of buying ad space is cost-efficient and leads to increased reach and visibility for pharma companies. Programmatic advertising also uses automated optimization to monitor and adjust campaigns for the best results continuously. If an ad is not performing well, the system automatically adjusts targeting or placement to improve performance. Importance of Precision in Pharmaceutical Advertising Pharmaceutical advertising requires a high level of precision and accuracy to be successful. The products and treatments are life-saving and life-changing, so the advertisement must reach the right audience most effectively.  Marketing to Healthcare Professionals (HCPs) One of the main challenges in pharmaceutical advertising is reaching healthcare professionals (HCPs). HCPs are busy individuals bombarded with advertisements and information from various sources. Traditional advertising methods, such as print ads or sales reps, may only sometimes reach the desired audience or have the desired impact. Previously, pharmaceutical companies had limited targeting methods, such as physical conferences or events. However, with programmatic advertising, they can now reach HCPs through targeted digital campaigns. Pharma companies can use data to target specific specialties or regions, ensuring that the right HCPs see their advertisements. This precision targeting leads to better engagement and higher sales for pharmaceutical companies. Reaching Patients and Consumers Not only do pharmaceutical companies advertise to HCPs, but they also need to reach patients and consumers. As society digitalizes, patients and consumers turn to online sources for healthcare information and support. Remote doctor’s appointments and telemedicine are also becoming more prevalent. Most of the time, patients and consumers seek specific information or support related to their health condition. Through programmatic advertising, pharmaceutical companies can reach these individuals with targeted messaging and personalized content that speaks directly to their needs. This method of precision targeting leads to improved brand awareness and customer loyalty for pharma companies.  Compliance and Transparency The pharmaceutical industry is heavily regulated in terms of marketing and advertising. The advertised products are susceptible, and the information must be accurate and transparent. Programmatic advertising considers this by tracking data and providing detailed reports on ad placements and performance. This transparency ensures compliance and allows pharmaceutical companies to measure their return on investment (ROI) accurately. By tracking and reporting on ad placements, pharma companies can ensure that their advertisements are being shown in appropriate contexts and reaching the intended audience. What Makes Programmatic Advertising Successful in the Pharmaceutical Industry? The answer lies in the pharmaceutical industry’s highly regulated and complex nature. Traditional advertising methods may not have the precision and accuracy required to advertise pharmaceutical products and treatments effectively. Here are some key factors that contribute to the success of programmatic advertising in this industry: High-Quality Data Sources One of the main reasons programmatic advertising is successful in the pharmaceutical industry is the use of reliable and accurate data. Inaccurate or incomplete data can lead to wasted ad spend and ineffective campaigns. With programmatic advertising, pharmaceutical companies can access premium data sources that provide detailed information about HCPs, patients, and consumers. The data is constantly updated and verified, ensuring the advertisements reach the

Share:   Share:   Desktop computers made their debut in the 1990s. They were the go-to devices for work, communication, and information retrieval. And let’s not forget the billboards, TV commercials, and print ads that ruled the advertising world. But then smartphones and tablets came along, and desktops were pushed to the backburner and relegated to being a secondary advertising platform. However, despite the proliferation of mobile devices, desktop advertising still holds significant power in marketing. And you definitely can’t afford to ignore it. Let’s find out why. What is Desktop Advertising? Desktop advertising, also known as online display advertising, refers to promotional messages on websites or applications accessed through a desktop computer. These ads can take various forms, including banners, pop-ups, videos, and sponsored content. They’re intended to capture the attention of potential customers and persuade them to take action, such as clicking on the ad or making a purchase. For example, a clothing brand might display banner ads on a popular fashion blog to attract visitors to their website and encourage them to browse and purchase their products. The Evolution of Desktop Advertising How it started The first banner ad appeared in 1994 on HotWired.com, an early online magazine. It advertised AT&T and had a click-through rate of 44%, which is significantly higher than today’s average of 0.05%. Banner ads quickly became a popular form of advertising due to their visual appeal and potential reach. However, banner ads were not without their drawbacks. They were often seen as intrusive and disruptive to the user experience. This led to the development of pop-up ads in the late 1990s. While initially successful, their overuse quickly made them unpopular among internet users. Advancements over time As technology advanced, so did desktop advertising. Targeting and tracking technologies were developed, allowing advertisers to reach specific audiences and measure the success of their campaigns. With the rise of social media and content marketing, native advertising also became popular on desktops. Native ads blend in with the surrounding content, making them less intrusive and more appealing to users. Personalized ads also gained traction, as they were proven more effective in capturing the attention of potential customers. Companies could use data and algorithms to create ads tailored to an individual’s interests, location, and browsing behavior. Importance of Desktop Advertising in a Multi-Device World With the increasing prevalence of mobile devices, some may argue that desktop advertising has lost its relevance. However, this couldn’t be further from the truth. Many people still use desktops for work, online shopping, and entertainment. This makes desktop advertising a valuable channel for reaching customers who may not be as active on mobile devices or social media. Furthermore, desktop advertising complements other forms of digital marketing. For instance, a user may see an ad on their phone while scrolling through social media and then follow up by visiting the advertiser’s website on their desktop. This multi-device journey highlights the importance of having a cohesive and integrated advertising strategy across all devices. The power of desktop advertising lies in its ability to reach customers at different touchpoints and reinforce brand messaging. Desktop Advertising vs Mobile Advertising While mobile devices have become an integral part of our daily lives, desktop advertising still has unique strengths that cannot be ignored. Let’s look at some of the key differences between the two. Consumer behavior and preferences The users or consumers of desktop and mobile devices have different needs and preferences. For instance, someone browsing on their desktop is more likely to be in a work or study mindset and may have a longer attention span. This makes them more receptive to detailed and informative ads. On the other hand, mobile users tend to have shorter attention spans and may be more interested in ads that offer immediate solutions or entertainment. Desktop users are 37.7% more likely to spend longer per visit on a website than mobile users. The type of ad and its placement can also impact user behavior. While mobile ads are often integrated into social media feeds or search results, desktop ads usually have a dedicated space on the website or application. This affects how users interact with the ad and their overall experience. User Positioning in the Buying Journey The buying journey or decision-making process often involves multiple touchpoints across different devices. In this regard, desktop advertising has an advantage over mobile advertising as it can reach customers at various stages of the buying journey. The office worker who sees an ad for a new productivity tool on their desktop may continue researching and purchasing later on their phone. Or, a user may come across an advertisement for a product on their phone and then switch to their desktop to make the purchase. The users ‘ positioning in the buying journey can also influence their receptiveness to ads. For example, users browsing on their desktop may be more likely to click on an ad and explore the product or service further if they are looking for it. User Intention and Ad Engagement Desktop users are more likely to actively seek products or services as they have dedicated time and attention to their online activities. On the other hand, mobile users may be less likely to click on ads as they often multitask or browse for leisure. The bounce rate, which measures the percentage of users who leave a website after viewing only one page, is consistently lower on desktops than on mobile devices. This indicates that desktop users are more likely to browse multiple pages and engage with the content. Locality and Targeting Desktop devices are often used in a fixed location, making it easier for advertisers to target specific geographic areas. This can be particularly useful for local businesses looking to reach customers in their area. On the other hand, mobile devices can provide real-time and accurate location data, allowing for more precise and timely targeting. This can be useful for businesses with physical locations that want to target potential customers in the vicinity. Advantages of

Share: Share: Consumers’ lives are inundated with ads, whether on social media, television, or websites. They don’t want to be bombarded with repetitive ads and become more and more selective with what they engage with. As a result, brands struggle to reach consumers wherever they are with more personalized and relevant experiences. The technology-driven world has given birth to using multiple platforms for the same brand.  According to Omnisend, marketers who use 3 or more channels in their campaigns have seen a 494% higher order rate than those who only use a single-channel campaign. This is where omni-channel advertising comes into play for businesses. Let’s look closer at omnichannel advertising and its importance in the current marketing landscape. What is Omni-Channel Advertising? Omni-channel advertising is a strategic approach that provides customers with consistent collaterals and experiences across all devices, channels, and platforms. This means customers receive a similar experience whether they engage with the brand through social media, email, mobile apps, or in-store. Omni-channel advertising aims to integrate customer journeys and provide a unique experience, regardless of the channel or device used. Consumers get a chance to purchase the product from any medium they prefer, like in-store, online, or mobile devices. In short, omni-channel advertising creates an interconnected customer experience across all touchpoints. What is the Difference between Omni-Channel and Multi-Channel Advertising? Omni-channel advertising is often confused with multi-channel advertising. However, there are notable differences between the two strategies. Multi-channel advertising focuses on using multiple channels to reach customers, but these channels may not necessarily be integrated or connected. Customers may have a different experience on each channel, and there is no consistency in messaging or branding. On the other hand, omni-channel advertising focuses on creating a cohesive experience for customers across all channels. The idea is to integrate the customer journey so that they can seamlessly transition from one channel to another while receiving consistent messaging and branding. All multi channeled campaigns are not omni-channel, but all omni-channel strategies involve multiple channels. Omni-channel advertising aims to integrate customer journeys and provide a unique experience, regardless of the channel or device used. Consumers get a chance to purchase the product from any medium they prefer, like in-store, online, or mobile devices. In short, omni-channel advertising creates an interconnected customer experience across all touchpoints. Why is Omni-Channel Advertising Important? Explore why you should care about omni-channel advertising and how it can benefit your business. Meeting Customer Expectations and Preferences Users in 2024 generate an average of 328.77 million terabytes of data daily. This huge amount of data is consumed across multiple platforms and devices. So, consumers are available on different platforms to purchase a particular product. As a result, customers now expect a seamless experience across all channels and devices. They want to be able to start their journey on one device or channel and continue it on another without any interruption. Omni-channel advertising allows businesses to meet these expectations and customers’ preferences, resulting in a positive brand image and customer satisfaction. Seamless User Experience Across Channels Omni-channel advertising requires businesses to deeply understand their customers’ journey and behaviors across all channels.The content and messaging of the ads need to be within the context of the customer’s journey.  Customers who interact with the brand on social media should see relevant ads when they visit the website or use the mobile app. Omni-channel advertising makes it possible to be present at every step of the customer’s journey and provide them with a seamless user experience, regardless of the channel or device.  The formats and creatives are optimized to provide the best experience on each platform, making it easier for customers to engage with the brand. Increase Customer Loyalty and Retention Omni-channel advertising can help build strong customer relationships by providing a consistent and personalized experience across all touchpoints. When customers feel that the brand understands their needs and preferences, they are likelier to become loyal customers and continue purchasing from the brand.  Moreover, omnichannel advertising can also improve customer retention as it makes it easier for customers to engage with the brand, making them less likely to switch to a competitor. Improved Data Collection and Insights To optimize omni-channel advertising, businesses must collect and analyze data across all channels and devices. This allows them to understand better their customers’ behaviors, preferences, and pain points. This data can then be used to improve the customer journey and tailor ads for specific audiences, resulting in higher conversions and ROI. The ad spend can be shifted towards more effective channels and creatives, leading to better results for the business. What Digital channels are Included in Omni-Channel Advertising? Omni-channel advertising encompasses a variety of digital channels that businesses can use to reach their customers. Some of the most common digital channels used in omnichannel advertising include: Social Media Facebook, Instagram, Twitter, and LinkedIn are some of the most engaged social media platforms for people ages 16 to 66. Businesses use social media to target specific demographics, engage with their audience, and build brand awareness. Retailers, e-commerce businesses,  and consumer brands often use social media to showcase products, run promotions, and drive sales. Mobile and In-App Advertising With the rise of mobile devices, businesses can’t afford to ignore this channel when creating their advertising strategy. 13.8% of mobile app users make in-app purchases, while only 5.6% of free app downloads result in at least one purchase. Businesses can use mobile and in-app advertising to target specific audiences, run promotions, and drive sales through push notifications, banners, and other formats. Push Notifications  Push notifications are messages that pop up on a user’s device from an app or website. They can update customers with new products, promotions, and other relevant information. Compared to email marketing, push notifications Programmatic Video Advertising have a higher open rate, making them an effective channel for reaching customers. Display Advertising Display ads refer to the placement of images or text ads on mobile apps or websites. These ads are often targeted towards people based on their browsing behavior. Display

Share: Share: The proliferation of mobile devices has drastically changed how consumers interact with advertisements. This shift towards mobile has reshaped the traditional consumer journey and altered how consumers make purchasing decisions. From in-app ads to social media-sponsored posts, mobile advertising has become ubiquitous in our daily lives. The perceptions, preferences, and purchasing patterns of consumers are significantly influenced by the advertisements they encounter on their mobile devices.  To better understand the impact of mobile advertising on consumer behavior, we will explore how mobile ads have changed the game for marketers and consumers alike. Mobile Advertising: A Growing Trend in 2024 To put things into perspective, here are some statistics about the growth of mobile advertising: Paid mobile YouTube ads are 84% more effective at capturing viewer attention than traditional TV commercials. Source: Think with Google. The worldwide mobile web traffic share reached 53.66% in October 2023. Source: Statista. As of 2022, mobile ad revenues reached a record high of $154.1 billion, with a 14.1% year-over-year increase. Mobile now holds a 73.5% market share of total internet ad revenues. Source: IAB Annual Report. Over 70% of YouTube views are on mobile devices, highlighting the importance of mobile advertising for businesses. Source: Khoros. According to the latest analysis from GSMA Intelligence, there are currently 5.56 billion unique mobile subscribers worldwide, representing 69.1% of the global population. Given these statistics, it’s clear that mobile advertising is a growing trend that is here to stay. The Influence of Mobile Advertising on Consumer Behavior Mobile devices have become an integral part of our daily lives, and for many consumers, they are their primary source of information and entertainment. As a result, mobile advertising has a significant influence on consumer behavior. Here are some key ways that mobile ads impact consumer behavior: Attention Span and Receptiveness With the rise of smartphones and our constantly connected lifestyles, consumer attention spans have significantly decreased. Marketers cannot capture and retain consumer attention with their mobile ads. Normally,  advertisers have around 8 seconds to capture a user’s attention before they lose interest. They must deliver true value,  demonstrate their brand’s authenticity, and provide a compelling call to action that generates engagement. Otherwise, their ad risks being ignored or forgotten in mobile advertisements.  To combat shorter attention spans, marketers must employ creative strategies to grab and hold consumer attention in the mobile environment. The bold visuals, catchy slogans, and interactive formats often used in mobile ads help capture and maintain consumer interest. Ease of Access and Convenience As long as users have their phones, they can access ads anytime, anywhere. This convenience factor is a significant driver of mobile advertising success. Mobile devices allow for immediate action in response to an advertisement. For instance, the “click-to-call” feature allows users to call a business directly from the ad. This is especially effective for users who are on the go and need immediate assistance or information. You can also incorporate location data into your ads to offer users personalized, relevant information within their immediate vicinity. This level of convenience and accessibility drives more significant engagement and conversions for advertisers. More recently, mobile ads have even begun utilizing augmented reality and virtual try-ons, providing consumers with a convenient and immersive shopping experience.  Micro-Moments and Impulse Purchases A micro-moment refers to a user’s intent-driven and spontaneous act on their mobile device, such as quickly searching for product reviews or making an impulsive purchase. These moments can be categorized into four main types:  “I-want-to-know” moments “I-want-to-go” moments “I-want-to-do” moments “I-want-to-buy” moments Mobile advertising is uniquely positioned to target and convert consumers during these micro-moments. Ads appearing when a user is actively searching for information, such as product reviews or store locations, have a higher chance of being noticed and acted upon. The impulsivity and urgency of these moments make them prime opportunities for advertisers to capture a user’s attention and drive conversions.  Locational and Contextual Targeting Advances in mobile technology have made it possible to target consumers based on their location and context accurately. Using GPS data, advertisers can target users within a certain geographical radius of their business or specific locations such as shopping malls or airports. A person on the go is likelier to engage with an ad promoting a nearby business or product. Contextual targeting uses data such as web browsing history, app usage, and other factors to identify a user’s current situation and target them with relevant ads. For example, a user browsing for travel deals on their mobile device may be served an ad for a hotel or airline within the same app or website. Many successful campaigns have utilized this strategy, such as Uber’s “Local Offers” program, which offers users discounts and promotions based on their location and recent ride history.  App and In-App Advertising Mobile apps have become ubiquitous in our lives, with the average user spending over 4 hours per day on mobile devices. As a result, in-app units have become a significant part of mobile advertising.   In-app ads allow for more precise targeting and higher engagement rates due to their immersive experience. Users are less likely to be distracted or annoyed by external factors, making them more receptive to ads. In-app ads are also more likely to be viewed since they appear within the app’s content. The purchases, searches, and actions taken within apps help create a more complete picture of the user’s interests and behaviors, allowing for better ad targeting.   Visual Appeal and Personalization The content and design of mobile advertisements have a significant impact on consumer behavior. Ads that are visually appealing and personalized to the user’s interests tend to perform better in engagement, click-through rates, and conversions. Visuals can evoke emotions and create memorable experiences for users, increasing their chances of recalling and acting upon the ad. Reels,  stories, and other immersive formats are gaining popularity as they offer users a personalized, interactive experience. Personalization also extends to ads targeting based on a user’s interests, demographics, and behaviors. This level of customization makes them more relevant and