Today we are thrilled to feature a guest post by DeepIntent CEO Chris Paquette, as we announce the beginning of a very exciting relationship in CTV advertising for healthcare marketers.
Connected TV (CTV) is having a moment in the sun, which means advertisers are right there in the shadows. As the COVID-19 pandemic kept millions of people home with nowhere to go but Netflix and Hulu, CTV ads naturally increased as well. CTV ad spend increased 48.6% over 2020, according to eMarketer.
As healthcare and pharmaceutical companies get more creative with their messaging and migrate more of their budgets toward CTV ads, I’m thrilled to announce DeepIntent’s partnership with LG Ads Solutions.
LG Ads Solutions has selected DeepIntent as its exclusive demand side platform (DSP) for healthcare and pharmaceutical ads in the U.S. This means that DeepIntent’s DSP is now the only way healthcare advertisers can access LG Ads Solutions’ CTV inventory to reach 20M+ households nationwide.
CTV Ads and the Quantum Leap
Each year, pharmaceutical drug companies spend more than $4.5 billion on linear TV ads, which represents approximately 75% of their ad budgets. Everyone who’s ever watched TV knows how irrelevant and poorly targeted those ads can be.
After surveying patients to better understand how they feel about pharmaceutical ads, DeepIntent learned that 51% find relevant ads more memorable. CTV ads represent an incredible opportunity for advertisers to connect with patients, delivering a more relevant, personalized experience. Like linear TV, CTV offers the longer-length video ad units that pharmaceutical advertisers need, but with more flexible campaign management; greater programmatic targeting; highly accurate, actionable measurement; and more.
The quantum leap we saw with targeting in digital is going to happen with CTV and we’re at the precipice.
DeepIntent is at the forefront of this evolution. Everything we do is with the unique needs of pharma advertisers in mind, from launching the first healthcare-specific CTV Marketplace last summer to partnering with LG Ads Solutions.
DeepIntent + LG Ads Solutions
LG’s proprietary automated content recognition data — data on which ads and what content are being shown on each screen — will be integrated within the DeepIntent Healthcare Marketing Platform. Along with exclusive, priority access to LG Ads Solutions’ highly coveted inventory, this will improve advertisers’ ability to reach healthcare provider (HCP) and patient cord-cutter audiences.
Our partnership gives LG Ads Solutions clients access to our expertise in programmatic CTV and state-of-the-art targeting, planning, activation, optimization, and measurement tools through the DeepIntent Healthcare Marketing Platform. This will help them improve campaign performance and scale as well as script performance and audience quality with DeepIntent Outcomes™.
The Diffusion Group estimates that within five years, the number of broadband-only homes will jump 42% to 54 million. As content consumption increasingly happens in digital formats, advertisers are excited to reach HCPs and patient audiences in a more relevant, personalized way, while optimizing and measuring campaign performance quicker and more accurately.
DeepIntent’s data and DSP, and LG Ads Solutions’ media and content are the winning combination for making that happen. For the first time on a programmatic platform, advertisers will be able to demonstrate the lift and incremental patient population reached right down to specific households, while also linking that to performance differentiated between linear TV and CTV campaigns.
I hear it from clients, I hear it from pharma brands directly: Everyone is planning to increase their CTV media. We’re giving them the ability to do so measurably with better addressability and targeting. My prediction is that pharma investments are going to supersede the industry-wide trends with even faster acceleration for share shift. I believe we’ll see pharma embrace CTV more wholeheartedly in part because of the tools and platforms we’ve created, and partnerships like that with LG Ads — the first of many.
As CEO, I find this partnership particularly exciting because it validates our CTV strategy and predictions. There’s a shift happening, and DeepIntent and LG Ads Solutions are working together to help our clients navigate it and harness the strengths of CTV ads, which are more relevant and drive better ROI while also helping deliver better patient outcomes.