The average brand spends a few hundred dollars a year
reaching their target customer with marketing messages. On average, it works out
about $700 per customer per year ($200b total US ad spend for 300 million
consumers). In contrast, the pharmaceutical industry spends $25,000 per year for
their target customer (i.e., physicians) promoting their drugs. This disparity is due the enormous economic
influence of physicians. In the US, 1 million physicians are the decision
makers for $400 billion of drug spend. Because it is not possible to spend $25,000
per physician on digital ads (there is not enough ad space), marketers end up
deploying this ad spend in non-traditional ways (e.g., hosting conferences). A
consequence of this supply-constrained marketing dynamic is that new digital
marketing players are manufacturing new opportunities to deliver ads to physicians
online. For example, companies like Crossix are assembling proprietary lists of
physicians that can be targeted online even when they are consuming non-healthcare
content (e.g., checking the weather).
No comments:
Post a Comment