New ON24 Report Reveals Significant Increase in HCP Engagement as Digital Transformation Accelerates for Life Sciences Industry

Rhea-AI Summary

ON24 releases the '2024 Life Sciences Digital Engagement Benchmarks Report' highlighting the impact of personalization on HCP engagement and the growth of digital interactions in the life sciences industry.

Based on analysis of thousands of ON24-powered experiences, ON24 announces life sciences benchmarks to help enterprises increase HCP education and results

SAN FRANCISCO--(BUSINESS WIRE)-- Today, ON24 (NYSE: ONTF), a leading intelligent engagement platform for B2B sales and marketing, announced the release of its “2024 Life Sciences Digital Engagement Benchmarks Report,” revealing key digital engagement trends for go-to-market teams in the pharmaceutical, biotechnology and medical device industries, offering strategic guidance on how to increase engagement with health care professionals (HCPs) to ultimately drive product adoption and increase business results.

After analyzing interactions from thousands of life sciences webinars and content experiences in 2023, the report concluded that personalization has the biggest impact on elevating HCP engagement. In fact, life sciences companies have seen a 22% increase in engagement with calls-to-actions (CTAs) since 2022, and more than double that growth rate when CTAs are personalized. This significant growth in HCP engagement demonstrates the impact that omnichannel marketing strategies are having on life sciences brand awareness and product adoption as more HCPs interact through digital channels.

"Today, HCPs are increasingly digitally-savvy and expect life sciences brands to deliver a customer-first digital experience,” says Callan Young, CMO, ON24. “Our research demonstrates that the life sciences companies prioritizing omnichannel commercial strategies, AI-powered innovation and personalized experiences have the potential to outperform their competitors and lead the industry now and moving forward.”

As digital engagement continues to accelerate year-over-year, the report has identified the following shifts:

• HCP preference for digital interactions continues to surge – The average number of unique interactions per attendee increased by nearly 30% since 2021, almost 10 percentage points higher than the global average.
• Personalization is key for increasing HCP education and adoption - Personalized CTAs have grown by 91% YoY.
• The rate of virtual peer-to-peer engagement is accelerating - Breakout room attendance increased by 4X, surpassing the growth of other industries by more than 40%.
• Continuing medical education (CME) in digital formats is rising - The number of digital certificates per attendee issued in 2023 increased by 54%, higher than the 21% annual increase seen across all industries.
• HCPs and patients are increasing on-demand content consumption, increasing the need for generative AI - Engagement with on-demand webinars increased by 17% YoY while videos increased by 33% YoY.

To get more insights, download the complete 2024 Life Sciences Digital Engagement Benchmarks Report here.

About ON24

ON24 is on a mission to help businesses bring their go-to-market strategy into the AI era and drive cost-effective revenue growth. Through its leading intelligent engagement platform, ON24 enables customers to combine best-in-class experiences with personalization and content, to capture and act on connected insights at scale.

ON24 provides industry-leading companies, including 3 of the 5 largest global technology companies, 3 of the 5 top global asset management firms, 3 of the 5 largest global healthcare companies and 3 of the 5 largest global industrial companies, with a valuable source of first-party data to drive sales and marketing innovation, improve efficiency and increase business results. Headquartered in San Francisco, ON24 has offices globally in North America, EMEA and APAC. For more information, visit www.ON24.com.

Forward-Looking Statements

This document contains “forward-looking statements” under applicable securities laws. In some cases, such statements can be identified by words such as: “expect,” “convert,” “believe,” “plan,” “future,” “may,” “should,” “will,” and similar references to future periods. Forward-looking statements include express or implied statements regarding our ability to achieve our business strategies, growth, or other future events or conditions. Such statements are based on our current beliefs, expectations, and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including the risks and uncertainties discussed in the filings we make from time to time with the Securities and Exchange Commission. Actual results may differ materially from those indicated in forward-looking statements, and you should not place undue reliance on them. All statements herein are based only on information currently available to us and speak only as of the date hereof. Except as required by law, we undertake no obligation to update any such statement.

© 2024 ON24, Inc. All rights reserved. ON24 and the ON24 logo are trademarks owned by ON24, Inc., and are registered in the United States Patent and Trademark Office and in other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240409046704/en/

Media:

Tessa Barron

press@on24.com

Investor:

Lauren Sloane, The Blueshirt Group for ON24

investorrelations@on24.com

Source: ON24

FAQ

What did ON24 announce?

ON24 announced the release of its '2024 Life Sciences Digital Engagement Benchmarks Report.'

What industries are covered in the report?

The report covers the pharmaceutical, biotechnology, and medical device industries.

What is the key finding of the report regarding HCP engagement?

The report found that personalization has the biggest impact on elevating HCP engagement.

How much has engagement with CTAs increased since 2022?

Engagement with CTAs has increased by 22% since 2022, with a more than double growth rate when CTAs are personalized.

What shifts in digital engagement were identified in the report?

The report identified shifts such as the surge in HCP preference for digital interactions, the key role of personalization in increasing HCP education and adoption, the acceleration of virtual peer-to-peer engagement, and the rise of continuing medical education in digital formats.