Pharma Budgets Soaring, but Marketers Closely Watching Washington

According to the 2019 MM&M Deloitte Consulting Healthcare Marketers Trend Report, marketing budgets increased 26% when compared to the previous fiscal year. The mean budget jumped from $8.3 million to $10.5 million, and 92% of respondents reported a year-over-year increase! This growth has been fueled by a record number of approvals of new treatments, as well as the Trump Administration’s Laissez-faire approach to the industry. This recent growth, however, faces numerous challenges in the near-future. The political climate present when such issues are addressed will strongly influence their outcome, and experts have agreed political action is inevitable.

Joe Plevelich, a commercial operations executive for a pharmaceutical company commented:

“If you look at some of the leading potential contenders for the presidency and some of the platforms they are trying to establish, [many] are talking about better controls and transparencies around pharma pricing and profits. I think there are definitely changes afoot. Whoever is going to be in power is going to have an impact on pharma pricing and our recent ability to continue to raise pricing on a whim.”

As we embark upon an active and critical time in healthcare regulation, development, and modernization, both democrats and republicans agree pharma is an industry worthy of attention.

The following have been identified as key discussions to watch as we approach 2020:

  • A reduction or elimination of tax deductions for marketing expenses (expected this year)
  • Requiring list prices of drugs to be included on TV advertisements
  • Price caps on drugs (Congress has already opened hearing on rising drug prices)
  • Investigations into sales and marketing practices

Why It’s Hot

The outcomes of these and similar healthcare regulatory topics will strongly impact pharma marketing budgets, and will determine if they will remain as fruitful as they are today. Many are concerned an unfavorable decision in any of these issues, could lead to significant change. Pharma marketers should remained tuned into the latest developments in these and other healthcare related issues, as well as the 2020 presidential election.

Source

An actually engaging banner ad? I’m all ears.

Last week I was Googling some movies to watch. I clicked on a search result that led me to IMDB. To my surprise, I was greeted by Dumbo, who flew around my screen overtop of the content I was trying to view. After falling out of frame, he reappeared in what seemed to be a static banner on the side.

What did I just witness? Did I just see an elephant fly? It was unexpected. It was irrelevant. But it was kinda cool. I then proceeded to engage with the banner, wondering if Dumbo knew any more tricks. After clicking on the “watch video” button, Dumbo came back to life, flew out of the ad and back across my screen, leaving behind a pop-up of the trailer.

Sorry, no video—I took one on my phone but it was too large to upload. Hoping to share live.

Why it’s hot:

Upon closer inspection, this AR-like experience was nothing more than a cleverly placed pop-up that interacted with another cleverly placed banner ad. And although this technology is nothing new, it got my attention. In fact, this is probably the first time I intentionally clicked on a banner…ever? Let alone the first time I engaged with a banner that had nothing to do with the content I was viewing, or even anything I was remotely interested in. It was a smart idea with smart execution, which led to a click. What more could you ask for?

I’ve been returning to IMDB to see if there were any other cool ads like this. So far there haven’t been, although there was a somewhat similar pop-up for the Lion King, but it wasn’t nearly as innovative.

Ultimately, I believe this experience can best be summarized by the words of a particularly talented murder of musical crows:

But I be done seen ’bout ev’rything
When I see a elephant fly

Instagram Brings Interactive Elements to Stories Ads

Coming off the tail-end of the in-app shopping launch, Instagram is bringing the poll sticker functionality to its Stories ads, delivering its 500 million users who use Stories daily a new way to interact with brands and ads.

Instagram Stories ads are a way for brands to share photos and videos with their key customer audiences to generate awareness or drive action. The poll functionality allows companies to build connections with their audience by asking questions within the ad itself.

Brands are already seeing the positive impact of using the poll stickers in their ads. Nine out of 10 beta campaigns testing the poll sticker saw an increase in the number of three-second video views. Specifically, Dunkin’ experienced a 20 percent lower cost per video, while Next Games saw a 40 percent increase in app installations.

Asos tested the polling feature in an effort to promote its new unisex fashion brand, Collusion. For the brand’s first ad poll they asked their customers if they thought clothes should be gendered, making customers feel like they’re part of the brand story while providing Asos with insight into their customer sentiment.

Why it’s hot?

For companies, not only does this interactive feature encourage ad consumption and engagement, but it allows them to collect real-time data about their audience.

Users now have an additional touchpoint for interacting with brands, and have an enhanced opportunity to provide feedback and collaborate with their favorite brands. No longer are ads speaking to consumers, but instead, they’re pulling them in by including them in the ad experience.

(Source: Adweek)

First of it’s kind medical gym to debut in London

Leading medical spa operators Lanserhof Group has partnered with The Arts Club, a private members club in central London, to develop a state-of-the-art medical gym.Expected to open in May 2019, the new facility is billed as the ‘ultimate medical and gym facility’, and will be the first of its kind to open in the UK.

Designed by Dusseldorf-based firm Ingenhoven Architects, the six-storey gym will be the first facility of its kind to offer club members an MRI scan as part of its tailored training programme. Members will also have access to additional personalised services and offerings such as cardiovascular screening, body metabolism analysis, and two physical therapy labs.

The facility will also feature a world-class gym, class studios, consulting and treatment rooms, cryotherapy treatment chambers and high-end diagnostic and medical facilities, as well as a carefully crafted menu of healthy food options.

Why it’s hot:

Two reasons:

  1. Experiences today define brands and categories – is it time for a luxury experience for healthcare testing and treatments? By mixing the experience of a gym, spa and a diagnostic center, it redefines what treatment and diagnostic centers should look like and may alleviate some anxiety.
  2. On the other hand, it offers advanced testing to highly health conscious consumers who want to quantify their progress and are hyper aware of their health metrics without having to leave the gym.

 

 

Online therapy gaining traction

From Bustle:

In recent years, websites and apps that offer remote access to trained therapists have risen in popularity. The convenience of communicating with a therapist via smartphone and the relatively low cost are some of the drivers behind why people use these services; even the American Psychological Association recognizes online therapy as a resource on its site. Well-known platforms include BetterHelp, which matches users with an online counselor they can communicate with live via text, phone, or video starting at $40 a week, and Talkspace, which allows the exchange of text, audio, and video messages with a therapist beginning at $49 a week. Other platforms include MyTherapist and telehealth services available through employee assistance programs (EAPs). While these apps and services aren’t replacements for traditional face-to-face therapy, as the respective FAQs for BetterHelpTalkspace, and MyTherapist note, these platforms can help users get more familiar with their mental health.

Ashley Batz/Bustle

See this additional article in The Guardian for more. 

Why it’s hot: Patients say that therapy apps have been a cost effective way for them to gain judgement-free access to mental health care that they otherwise may not have even pursued, lowering the barrier to entry to address extremely common but often ignored issues. The convenience factor also plays a big role, as patients don’t have to worry about scheduling or getting to appointments, and can receive on-demand therapy when they need it – to cope with a loss, for example – or ongoing therapy for chronic mental health disorders like anxiety.

Twitter Places Focus on Media Over Text

Twitter is rolling out updates to it’s camera feature in an effort to increase media-sharing on the social platform. Up until now, the camera feature was buried in the tweet composer. Now it is available with one swipe left from the timeline.

This update doesn’t mean Twitter is launching stories, instead, the platform is making it easier for users to share real-time content that adds another layer to their conversations. Users can add their own text to videos and images, and Twitter will also recommend popular hashtags based on geographic location.

Why it’s hot: With Twitter’s reputation as a text-heavy platform, this update could change the types of content users are drawn to on this site. Users on each social platform typically engage with specific photography styles and imagery, but this precedent has not yet been set for Twitter. More media use will also make it easier for advertisers to place visual content on the feed.

Source

Woebot – Highly Praised App for Mental Health

AI counseling is the wave of the future. Cognitive Behavioral Therapy administered by a smart chatbot, via an app relying on SMS, has become highly popular and well reviewed. Woebot isn’t just the face of a trend, it’s a notable player in technology transforming healthcare.

Why It’s Hot

It’s not new. It’s better. The first counseling software was called Eliza. It was ~1966. Part of the difficulty was it required human intervention. Ironically, in 2019 when many believe a lack of human contact to be part of the problem, that void actually addresses a barrier in therapy. Perceived lack of anonymity and privacy. Sure therapist visits are confidential blah blah but people naturally have difficulty opening up in person. Plus there’s the waiting room anxiety. With an app, studies have shown that people get to the heart of their problem quicker.

Why it Matters

There’s a ton of demand for “talk therapy” and others. Human counselors can’t keep up. People wait weeks and months for appointments. That’s in the U.S. where they’re compensated well. In this On Demand age, that’s seen as unacceptable. Woebot, and others, address the market need for immediate gratification care. Another issue is cost. Therapy is expensive. Apps are obviously a solve here. No co-pay.

Obligatory Statement

All the apps remind users they’re no substitute for human counselors but they are helpful in reflecting behavior patterns and emotional red flags back to their users. At the very least, it’ll help you make the most of your next therapy visit.

Influencer caught in college admissions investigation

News broke this week of a vast college admissions cheating scheme in which wealthy parents paid hundreds of thousands to get their kids into elite universities by falsifying documents and test scores with the help and cooperation of coaches, and college and test administrators. Olivia Jade, daughter of actress Lori Loughlin (Full House), beauty and lifestyle influencer to 3 million followers across Instagram and YouTube was one of the beneficiaries, and now her Instagram account is under fire.

https://jezebel.com/heres-everything-i-learned-about-lori-loughlins-influen-1833237961

Why it’s hot: Reminds us that a potential brand crisis can come from the most unexpected places. Brands that have worked with Olivia Jade include Sephora, Amazon and Tres Semme, though it’s likely they’ll be blameless here. Sheds light on the tangled web of personal + private that comes with the mainstream macro influencer.

Smart cat shelter uses AI to let stray cats in during winter

For stray cats, winter is almost fatal. Using AI, a Baidu engineer has devised an AI Smart Cattery to shelter stray cats and help them survive Beijing’s cold winter.

It can accurately identify 174 different cat breeds, as to let them enter and exit as they please. A door will slide open if the camera spots a cat, but it won’t work on dogs. Multiple cats can fit inside the space.A fresh air system monitors the oxygen and carbon dioxide levels to ensure the small space is well-ventilated.

Another neat camera feature is that it can be also used to detect if the cat is sick — it can identify four common cat diseases, such as inflammation, skin problems, and physical trauma. Once a cat is identified as needing care, associated volunteers can be informed to come and collect it.

Why it’s Hot: A neat implementation of AI for good – it pushes us to think beyond using AI for just marketing purposes and lets us imagine it’s role in helping solve human (and animal) problems.