5 Things to Look for in a Marketing Analytics Partner
Biopharma brands make significant investments in direct-to-consumer and HCP marketing. Working with an experienced marketing analytics partner to measure and optimize those investments can improve marketing performance and unlock millions of dollars in media value. All biopharmas, from large, global companies to emerging biotechs, can benefit from working with a marketing analytics partner to connect their marketing and advertising campaigns to health outcomes.
As the media landscape continues to evolve with the deprecation of third-party cookies and increased privacy regulations, marketers need ongoing access to a robust network of health and media data connected in a privacy-safe way to measure campaign effectiveness.
Here are five things to look for when choosing a marketing analytics partner to ensure sustainable measurement and actionable insights as the media landscape evolves.
1. Robust, futureproof data sets
Successful measurement ultimately comes down to understanding who your campaigns are reaching and their impact on health behavior. Built on the industry’s largest connected health and media data network, the Crossix Measurement Suite helps marketers maximize the impact of their media investments by connecting campaigns to health outcomes using health data in a privacy-safe, HIPAA-compliant way.
Until recently, digital media data relied on applying third-party cookies. Although Google has postponed the complete deprecation of third-party cookies in Chrome until 2025, other platforms like Safari and connected TV have been cookieless for quite some time. Sustainable media measurement relies on direct feed integrations from media partners. The infrastructure and relationships necessary to do this well are built over time. The Crossix 1st Party Connect program of direct media feed integrations has over 100 partners with 75% coverage across HCP and DTC impressions and is on track to reach 90% by the end of the year.
2. Comprehensive measurement across channels
Effective omnichannel marketing means reaching patients and healthcare professionals wherever they consume media. With integrated campaigns across channels such as digital, streaming video, linear TV, and even website activity for direct-to-consumer and HCP advertising initiatives, you want to ensure your marketing analytics partner can measure everything in one place.
A holistic view across DTC and HCP marketing channels can provide insights to improve channel synergies and increase ROI. Crossix Omnichannel Boost enables you to connect your entire marketing plan. You can enhance customer engagement by leveraging actionable data to improve sequential messaging and optimal frequency across channels. Through ongoing optimizations across channels, partners, and tactics, you can maximize new patient starts.
3. Transparency and privacy
Methodology, data sources, metric definitions, statistical significance, and sample sizes make up the foundation of an advanced analytics platform. You and your team should have access to these metrics to prove that you are making business decisions based on accurate insights.
While many marketers rely on their internal analytics partners to evaluate the data science, brand teams should also ask these questions and look for openness and transparency from their partners.
Some vendors claim that HIPAA compliance ensures a privacy-safe methodology. HIPAA, which passed into law more than two decades ago, wasn’t designed to cover the complexities of today’s digital world. HIPAA is necessary but not sufficient when it comes to privacy and the use of data to measure the impact of marketing campaigns.
The Network Advertising Initiative (NAI) is the leading self-regulatory association dedicated to responsible data collection and its use in digital advertising in the United States. The NAI’s ad delivery and reporting guidelines specifically focus on the appropriate and ethical use of data to measure advertising effectiveness. Look for a partner who is a member of the NAI to ensure they use digital data responsibly and that consumer privacy is protected.
4. Timely access to insights
Marketing analytics allow you to validate your investments and optimize your campaigns to maximize effectiveness. Yet, more than the right insights are needed. You need timely access to insights to evaluate performance consistently and make the right optimizations.
Veeva Crossix provides performance data quickly so advertisers can optimize campaigns earlier and more effectively. With weekly data updates across digital and linear TV campaigns, brands realize up to 25% in media savings in the first year of leveraging the Crossix Measurement Suite.
5. Proven ability to execute and innovate
Look for a partner with experience measuring complex, cross-channel campaigns over a long period of time. Even with access to robust data sets, it can be challenging to connect marketing and health data across channels and platforms accurately.
Veeva Crossix has a proven track record. We’ve implemented the Crossix Measurement Suite more than 3,000 times, providing marketers and media agencies with ongoing access to performance data. Nine of the top ten biopharma companies use Crossix, and we measure more than $3.2BN in annual advertising spending.
Along with the foundations to support modern life science marketing, the best analytics partners are constantly innovating. They push boundaries and unlock new opportunities for data-driven omnichannel marketing.
At Veeva Crossix, we continue expanding our offerings and investing in sustainable measurement, actionable insights, transparency, and customer control over your applications. Some of our latest solutions include new insights to support the rise in multicultural marketing campaigns and the ability to connect insights from patient marketing campaigns to drive HCP engagement with HCP Trigger Data.
Effective marketing analytics requires futureproof data sets, transparent and privacy-safe comprehensive measurement, timely access to data, and a proven ability to execute and innovate. Your marketing investments are too valuable to trust promises without proven results.
Want more tips for thriving in the evolving digital advertising landscape? Read this blog.