Your healthcare consumer is out there, if you know where to look

September 25, 2020  |  Paula Serios, Josh Derouin

Healthcare

The successful U.S. merchant John Wanamaker coined the famous phrase, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”

While that phrase was uttered over a hundred years ago, the sentiment is especially true today. How is it that this problem still persists? Haven’t we learned to be more efficient? Well, the answer isn’t quite so simple. There are many confounding variables that contribute to understanding and attributing advertising to business results. For the purposes of this blog, let’s focus on one: finding audiences.

According to Nielsen, “Digital Ad Ratings results show that 56% of campaign impressions, on average, are lost to issues such as fraud and off-target, out-of-view audiences.”

Showing ads to people who are not interested or engaged is a mistake. An expensive one. Wouldn’t it be nice if you could identify those individuals who are interested in your product before advertising to them?

Precision targeting with propensity modeling can do just that.

Propensity modeling is a technique that applies statistical techniques to determine which audiences have the highest probability of being interested in your product or service. They are developed by isolating multiple consumer attributes and using statistical analysis to track them over time. This process will validate whether a person who has those attributes is likely to need certain health services. Based on these key attributes, we would use a model that displays ads only to people in the top 10% of your audience profile, providing a higher chance of conversion and a much better use of your dollars.

When we serve ads to healthcare prospects, we apply propensity models developed by our partners at Crossix Veeva to ensure we’re targeting the right people. Their approach ensures we’re accessing the 10-25 million U.S. adults who fit into the top 10% of your audience. If you’d like to learn more about how our approach can take the waste out of your advertising, we’re taking a deep dive into our process during a live webinar with Crossix Veeva on September 30th. Please join us.

Register here: “Reach the Right Patients with Precision Media Targeting: Propensity Modeling with BVK and Crossix.” 

Campaigns that Deliver

BVK believes that driving volume quickly at a reasonable cost should be a baseline for any healthcare marketing organization. The campaigns themselves must build volume in vital clinical lines that contribute to a valuable payer mix and overall case mix index. The challenge is that the current volatility of COVID-19 makes recovery strategies a guessing game for health system marketers faced with absorbing the financial burden of the pandemic. We see the key strategy as flexible, cost-effective campaigns that can be turned on and off to drive volume as needed. BVK’s OnDemand healthcare campaigns offer customizable, turnkey solutions that can be in market in as little as a few weeks.

Rooted in consumer perceptions and behavior with propensity modeling that provides razor-sharp targeting of the right patient at the right time in the right place, BVK OnDemand campaigns were developed and vetted with hands-on experts that possess decades of healthcare experience.

Each campaign includes strategic insight, media strategy, and creative, plus reporting and optimization across a full range of healthcare consumer touchpoints. These include digital banners, social media, e-mail, landing pages, digital OOH, video, and radio. The OnDemand campaign suite focuses on conditions and procedures with a high degree of consumer decision impact that can work individually or in tandem.

Designed to run 12-weeks, each BVK OnDemand campaign also includes a real-time dashboard to monitor campaign results, as well as monthly optimization of both media and creative elements. Here is a sampling of several of the available campaigns:

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is a Senior Vice President, BVK Health

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Josh Derouin is a Senior Vice President, Performance Marketing & Analytics

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