Are You Using the Right Data?

There is no doubt that having the right data is critical to the success of a campaign. Historically, marketers would contract with third-party vendors who would execute campaigns from start to finish with their own customized audiences. These vendors would build the target audiences and deploy the creative against that audience. While this process ensured you could reach your optimal audience, it has not always been the easiest or fastest route to deploying a campaign.

Today, many (if not most) agencies have their own internal trading desks. Accordingly, agencies with these capabilities have been using a self-service approach, rather than contracting through a third-party managed-service partner. While this process allows you to use internal data for faster deployment, you may be left with audiences that use less reliable data, are less targeted, and can create more waste.

Traditionally, data accessed through self-service trading desks include generalized, high-level audiences using either demographic or predictive (look-a-like) data. The use of demographic or predictive models, mean your audiences are developed using either non-medical data or only a small sample of actual evidence-based medical data. Either way, this creates increased waste in impressions and ad dollars for your campaign. While self-service may be the most convenient route to go, it may not always be the most cost effective if you are not using the right audiences.

The tradeoff between self-service and managed-service can mean targeting a generalized audience like, diagnosed with diabetes versus a targeted audience like, diagnosed with diabetes and high blood pressure and on multiple medications. The latter resulting in a much more hyperlocal approach to your campaign.

So how do you choose which is right for your campaign? Does the need for convenience outweigh the development of targeted audiences based off evidence-based data?

What if we told you there was a way to access these hyperlocal audiences based on real-world claims data right through your own DSP?

Medicx Audience Access: Our Micro-Neighborhood® Audiences Delivered Right to You

We recently introduced our new service, Medicx Audience Access (MAA), which allows you to build and contract custom campaign audiences directly from us, Medicx Health, to execute on your internal trading platform. This means you will benefit from the precision of Medicx Micro-Neighborhood® audience data for targeting, in a fast and easy-to-access manner.

When developing our MAA service, we recognized an industry need to make access to customized, high-value audiences as easy as possible. With our MAA service, your customized audiences will be delivered straight to your DSP of choice, giving you self-service access to the audiences. This approach to consumer targeting gives you the flexibility to access custom built, high-value audience segments while managing your own optimizations and budget allocation.

Now, you might be thinking, “this sounds too good to be true”, but below we have outlined two case studies that detail how MAA has performed for our clients.

MAA In Practice

Audience Quality in Oncology

A client contracted Medicx’s MAA service to reach audiences diagnosed with a specific tumor. We developed three custom audiences using our Micro-Neighborhood® Targeting platform and delivered the audiences to the client’s DSP. The client served digital media to these audiences over 3 months.

At the end of three months, the client reported that the MAA audiences were 6.8 to 11.7 times more likely to have been diagnosed with the cancer than their national benchmark. The cost per diagnosed patient was 75% below their internal benchmark. When compared to other running audiences (primarily predictive models), Medicx’s three segments ranked best in terms of cost per qualified patient reached.

Audience Quality in Diabetes

Another client contracted our MAA service to reach audiences diagnosed with diabetes. In a highly prevalent and competitive market such as diabetes, it is even more important to reach the right audience. We worked with the client to develop custom audiences based on first-line therapies using our Micro-Neighborhood® Targeting platform. The client was able to access this custom audience through their DSP to deploy their media.

At the end of their campaign, the client reported that consumers included in the MAA audiences were twice as likely to have been treating with a combination of competitive products than the national benchmark. In terms of cost per qualified patient, this audience was the best performer when compared to other data partners using demographic and look-a-like models.

Conclusion

Our MAA offering can provide targeted audiences that are of high-value, easy to access, and convenient. We have made it easier for marketers, like you, to get the best of both worlds.

If you prefer to go the traditional route of using a third-party programmatic partner to run your digital media to highly targeted and valuable audiences, Medicx can still provide those services for you and your brand.

To learn more about maximizing your value through Medicx Audience Access, contact your local Medicx client partner, or contact us here.