New Research Shows Rise in Digital Audio and Video Streaming Ads to Reach Physicians and Patients

Rhea-AI Summary

At the Veeva Commercial Summit, Veeva Systems (NYSE: VEEV) released the 2022 Trends in Health Advertising Report, highlighting a 61% increase in digital audio impressions and an 18% rise in streaming video impressions in healthcare advertising. The report, based on over $6 billion in advertising investments, shows that digital audio campaigns, particularly in categories like women's health, were 120% more effective than traditional display ads. The study emphasizes the importance of diversifying media strategies to enhance effectiveness and reach among healthcare professionals and patients.

Positive

• 61% increase in digital audio impressions highlights effective advertising tactics.
• $6 billion in advertising investments signals strong industry engagement.
• Digital audio campaigns proven 120% more effective than display ads.

Negative

• None.

Healthcare industry sees 61% increase in impressions from digital audio advertisements, finding them 120% more effective than digital display

BOSTON, May 5, 2022 /PRNewswire/ -- At today's Veeva Commercial Summit, Veeva Systems (NYSE: VEEV) released new findings about the diversification of digital media used in direct-to-consumer and healthcare professional (HCP) advertising in the U.S. The Veeva Crossix 2022 Trends in Health Advertising Report examines marketing campaigns across more than 230 life sciences brands and finds a notable increase in the use of digital audio and video channels, with marketers creating more targeted, meaningful brand conversations.

The report aggregates media measurement and health data across $6 billion in 2021 advertising investments. It looks at year-over-year changes in consumer media behavior and the mix of digital channels used to reach both patients and HCPs, including:

• Diversifying digital tactics: Pharma marketers are diversifying their media mix, relying on newer tactics to drive impact. In 2021, digital audio impressions grew 61% and streaming video impressions increased 18%.
• Cutting through the noise: Last year, 50% more campaigns included podcasts and other emerging digital audio channels — particularly in categories like women's health and preventative medicine. The rate of new patient starts from these digital audio tactics grew 11%, proving to be 120% more effective than digital display ads.
• Reaching HCPs where they are: Niche, HCP-focused sites were 55% more likely to drive new patient starts last year than programmatic ad placements. However, audience-based targeting still played an important role, with programmatic media generating the majority of HCP reach.

Detailed analyses of select brand campaigns also show the growing impact of precision targeting and multichannel strategies. For example, oncology brands that air media on streaming services increased targeting effectiveness 49% compared to their linear TV buys. One pharma brand also found that, for its highest priority HCPs, orchestrated messaging across both digital ads and personal sales engagement helped drive 80% of subsequent new patient starts within this group.

"In a world of digital choice, healthcare marketers are leaning on data to uncover new strategies for optimizing their media spend," said Sarah Caldwell, general manager of Veeva Crossix Analytics. "The most data-driven brands are successfully boosting their reach and conversions with a more diverse, targeted mix of patient and HCP touchpoints."

Additional Information
Watch the Veeva Crossix keynote at Veeva Commercial Summit: veeva.com/CrossixKeynote
For more on Veeva Crossix, visit: veeva.com/VeevaCrossix 
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems 
Follow @veevasystems on Twitter: twitter.com/veevasystems

About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.

Contact:

Deivis Mercado
Veeva Systems
925-226-8821
deivis.mercado@veeva.com

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SOURCE Veeva Systems

FAQ

What are the key findings of Veeva's 2022 Trends in Health Advertising Report?

The report shows a 61% increase in digital audio impressions and highlights that these ads are 120% more effective than digital display ads.

How much was invested in advertising according to Veeva's report?

The report aggregates media measurement and health data across over $6 billion in 2021 advertising investments.

What advertising strategies are emerging in healthcare?

Pharma marketers are diversifying their media mix, significantly increasing the use of digital audio and video channels.

How effective are niche HCP-focused sites compared to programmatic ads?

Last year, niche HCP-focused sites were 55% more likely to drive new patient starts compared to programmatic ad placements.

What is Veeva Systems' stock symbol?

Veeva Systems trades on the NYSE under the symbol VEEV.