The digital age is constantly ushering in new needs in the Healthcare and Life Sciences (HLS) industry. This time of transformation is particularly apparent within the field of Marketing Automation, where trends have drastically evolved in recent years. Therefore, leveraging such trends becomes crucial for companies wishing to rise above the fray.
In 2020, the global market for marketing automation was $4,438.7 million, and it’s expected to grow to $14,180.6 million by 2030. Moreover, the top 28% of businesses actively use marketing automation and AI tools in their process.
For organisations looking to stand out from the competition, implementing Marketing Automation trends can be essential. So let’s delve into these nuances to understand their implications for HLS organisations.
Artificial Intelligence continues solidifying itself as a crucial tool within marketing, especially regarding marketing automation. The market for AI in marketing can grow to more than $107.5 billion by 2028 — a massive leap from $15.84 billion US dollars in 2021.
Artificial Intelligence (AI) has fundamentally changed how the HLS sector approaches marketing. AI-driven personalisation enables companies to deliver a unique customer experience that aligns with individual needs and preferences.
Creating personalised experiences for all customers can take time and effort. It becomes easy and rewarding with marketing automation. AI can automate this process by analysing vast customer data and behaviours. Thanks to using that information, marketers can craft customer experience. This increases customer engagement and loyalty to the product, brand and company.
By identifying and understanding different customer segments, HLS organisations can tailor their products and marketing efforts to meet the specific needs of each customer segment. This results in more effective marketing campaigns, building a strong brand identity and better overall profitability.
Marketing Automation takes customer segmentation to a new level, using advanced algorithms to divide audiences based on behaviour, preferences, demographics and geographic data. With the ability to analyse data from multiple channels, automation software can provide a more detailed and accurate customer segmentation, leading to personalised communication that resonates with the target audience.
- The organisation can implement upselling and cross-selling processes for dedicated products and services by analysing groups’ behaviour and purchasing preferences. These processes may have an impact on extending the customer’s lifetime and, thus, provide more revenue from this relationship.
- Using well-implemented segmentation also allows for communication with particular segments of customers through preferred channels or platforms. It helps organisations find new opportunities to enhance brand awareness and, thanks to that, sell products.
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AI-driven customer segmentation is harnessed innovatively by healthcare and life sciences companies. For instance, pharmaceutical giant Roche Diagnostics utilises AI to categorise their diverse customers, from healthcare providers to patients, facilitating personalised diagnostic solutions and recognising upselling prospects to maximise customer lifetime value.
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As technology evolves, the power of omnichannel marketing automation is becoming increasingly apparent to gain substantial benefits.
Healthcare & Life Sciences organisations constantly interact with diverse audiences: patients, customers, healthcare providers, researchers, regulatory authorities, and more. To effectively reach and engage these different groups, communication must take place across multiple platforms – websites, social media, email, mobile apps, and even traditional offline channels.
While multichannel marketing focuses on communicating via multiple channels, omnichannel marketing aims to create a seamless, integrated customer experience across all platforms.
After adopting an omnichannel approach, organisations can face a new challenge, such as managing complex communication networks. This is where marketing automation steps in, providing the tools to handle and optimise these channels effortlessly.
Marketing Automation brings a level of sophistication to omnichannel communication performing tasks that would otherwise require considerable time and resources. It allows for the consolidation of various channels into a single platform. This centralisation offers a clear overview of all marketing activities, making tracking, analysing, and coordinating campaigns easier. It enables marketers to manage email, social media, website, and app marketing from a singular interface, significantly improving efficiency and providing an outstanding customer experience.
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Pfizer has consolidated its multiple communication channels into a single platform, including their website, social media, emails, and mobile apps. This integration enables efficient campaign coordination and ensures a seamless customer experience across all platforms.
Medtronic uses marketing automation to manage complex communication networks with customers, healthcare providers, and regulatory authorities. Thanks to a singular interface, Medtronic saves time and resources, enhancing overall operational efficiency and customer experience.
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sales@craftware.com
At its core, Machine Learning is a method of data analysis that automates the creation of analytical models. It uses algorithms that iteratively learn from data, allowing computers to find hidden insights without explicit programming. These insights can help businesses make more informed decisions, often with game-changing implications. With its ability to adapt to changing trends and behaviours, machine learning will facilitate smarter and more precise marketing strategies. It will continue revolutionising marketing automation in the HLS industry.
- For example, ML can speed up the preclinical testing process in drug discovery and development thanks to analysing vast amounts of genetic data to identify potential medicament users and predict drug interaction with these patients.
- Another area where Machine Learning can revolutionise the industry and make companies successful is the area of medical images. By detecting subtle patterns in images that the human eye could easily overlook, Machine Learning can diagnose diseases earlier and more accurately.
- Machine Learning will likely play a pivotal role in advanced genomic research. It could help us better understand genetic variants and their roles in health and disease, potentially leading to gene therapy and personalised medicine breakthroughs. The possibilities are limitless, and the journey is only just beginning.
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Biotechnology company Genentech employs machine learning for the swift analysis of genetic data, improving the precision of drug discovery and development.
Similarly, Illumina employs machine learning in genomic research to better understand genetic variants, potentially leading to breakthroughs in personalised medicine. These companies are at the forefront, illustrating the broad potential of machine learning in revolutionising healthcare and life sciences.
Real-Time Marketing enables organisations to interact with their customers instantly, seizing opportunities as they occur in the live environment. The RTM focuses on up-to-date events, instantaneous feedback, and customer interactions happening in real time. This immediate interaction can significantly improve customer experience, fostering stronger relationships and loyalty.
Thanks to real-time analytics, marketers can focus on complex customised RTM campaigns. Artificial Intelligence and Machine Learning algorithms can be instrumental in sorting through real-time data and extracting valuable insights. They can help distinguish noise from significant trends and patterns. For instance, a sudden spike in negative social media comments may prompt an immediate campaign adjustment, even though the overall sentiment may still be positive. That is why sifting out the noise from the trends here is essential. In crises like product recalls or disinformation management, RTM helps companies respond effectively and control the narrative by providing timely and accurate information.
The evolution of RTM will likely see an expansion of omnichannel marketing, which we wrote about above. Organisations will interact with customers in real-time across multiple platforms – social media, mobile apps, websites, and more – providing an integrated customer experience.
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sales@craftware.com
Imagine being able to gaze into a crystal ball and predict the actions of your customers. That’s the allure of predictive analytics, which utilises historical data, statistical algorithms, and machine learning techniques to forecast future outcomes. Within marketing automation, predictive analytics is the secret ingredient that can give your campaigns a competitive edge.
- By crunching numbers from past campaigns, predictive models can spot patterns, trends, and behaviours that might otherwise go unnoticed. For example, want to know which customers are most likely to respond to a particular product promotion? Predictive analytics has your back. When to reach out to a potential client for the highest engagement? Predictive analytics can give you an answer.
Predictive analytics allows businesses to allocate resources more efficiently by identifying high-value customers and effective marketing channels. Marketers can reduce the risk of costly missteps using insights that guide marketing strategy and decision-making. Predictive analytics can also flag warning signs of customer churn, enabling marketers to proactively address issues and enhance customer loyalty. By understanding what drives customers away, you can take steps to keep them on board.
In the Healthcare and Life Sciences industry, data is valuable and necessary. From patient medical records to genomic research data, the scale and sensitivity of information these sectors handle are vast. Compliance with regulations such as the General Data Protection Regulation (GDPR) and the Data Protection Act (DPA) is non-negotiable. Protecting this data is not just a matter of regulatory compliance – it’s about maintaining trust and ethical standards. That is why companies must implement robust cybersecurity measures, including encryption, secure access controls, regular system audits, and employee training on cybersecurity best practices.
Marketing automation involves collecting, storing, and processing personal data to drive personalised marketing campaigns. Investing in secure data platforms and privacy protection measures is crucial. Organisations can uphold their legal obligations by implementing MA processes such as consent obtaining, easy opt-out, and data erasure demands mechanisms. Marketers must work closely with legal and compliance teams to ensure marketing activities adhere to industry regulations and privacy laws.
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sales@craftware.com
Marketing automation has gained significant traction across various sectors, including MedTech, Pharmaceutical, and Consumer Healthcare. Each of these verticals has distinct characteristics that influence the application and benefits of MA. The three distinct HLS sub-verticals are each grappling with unique challenges and opportunities in marketing automation.
Medical devices are typically complex and highly innovative, requiring much explanation and demonstration. In addition, MedTech organisations must reach the right audience — patients, healthcare providers, insurance companies, and regulatory authorities — with the right message. The challenge lies in communicating the right message to a diverse customer base. Moreover, communication requires detailed, often technical, marketing content. With Marketing Automation, companies can segment their audience and deliver customised content tailored to each segment’s understanding and needs.
MedTech is a highly regulated sector. Marketing Automation can help streamline compliance by integrating regulatory checks into marketing processes, reducing non-compliance risk.
Medical devices often have long sales cycles involving multiple stakeholders. MA can help nurture these long-term relationships, managing and tracking interactions over extended periods. Its advanced features enable sophisticated lead nurturing and segmentation, helping MedTech companies target diverse customer groups effectively, maximising reach, and optimising their marketing efforts.
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Stryker, a prominent MedTech company, uses Marketing Automation to streamline training and deliver educational content. They offer automated online training modules for healthcare providers on using their products, ensuring information is delivered efficiently and accessed at the provider’s convenience. This improves customer service and product usage while freeing up resources for other tasks.
Pharmaceutical companies operate within a strictly regulated environment. Marketing strategies must therefore balance creativity with compliance requirements. Accuracy and transparency are paramount when showcasing a new drug’s effectiveness or communicating complex clinical trial data.
MA platform allows pharmaceutical companies to manage digital marketing campaigns effectively while adhering to industry regulations. Thanks to the dedicated features of MA, marketers can control each step of the marketing process, ensuring a compliant yet compelling campaign.
Marketing automation is frequently used in the pharmaceutical sector to engage healthcare professionals (HCPs) and patients. Detailed tracking of engagement metrics allows for personalised communication, which is essential. By analysing data on behaviour and preferences, companies can tailor their messaging to individual needs and interests, enhancing engagement and building stronger relationships.
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A good example is Novartis, which has leveraged marketing automation to streamline interactions with healthcare providers. By automating educational and promotional content delivery, Novartis ensures that doctors and healthcare professionals receive timely and relevant information about their products. This automation enhances the efficiency of their marketing efforts and strengthens relationships with healthcare professionals.
MA plays a crucial role in pharmaceutical companies’ medical education initiatives, providing timely and relevant information to HCPs, such as updates on new research findings, drug interactions, and treatment guidelines.
The Consumer Healthcare sector is where healthcare meets everyday life. It spans everything from over-the-counter (OTC) medications to personal health and wellness products. Marketing in this sector must grapple with a fast-paced environment, diverse customer base, and direct-to-consumer dynamics. Where new products and brands continually enter the market, marketers need to cater to a broad spectrum of consumer needs, preferences, and habits.
Marketing automation can offer a powerful way to keep pace with the demands and expectations of modern consumers, respond quickly to changing market conditions, and adapt marketing strategies based on real-time data.
Direct-to-consumer (DTC) interactions demand a higher level of engagement and personalisation. It is all about being where your consumers are. With marketing automation, marketers can manage and coordinate campaigns across multiple channels, from email and social media to websites and mobile apps, ensuring a consistent and coordinated brand experience.
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Johnson & Johnson uses marketing automation to provide tailored product recommendations and personalised content for their customers, enhancing the shopping experience and ultimately driving more sales.
Another example is Walgreens, a leading pharmacy store chain that utilises marketing automation to send timely reminders to customers for prescription refills and vaccinations. This drives customer engagement and helps improve adherence to medication schedules and preventive healthcare measures.
The evolving Marketing Automation landscape presents both challenges and opportunities. Marketing automation helps to build a bridge between customer engagement and operational efficiency. This approach is fundamental in the Healthcare and Life Sciences industry. The sector is constantly under pressure to manage vast amounts of sensitive data to provide excellent customer experience while meeting stringent regulatory requirements. Automation is becoming an invaluable tool in facing these challenges.
AI-powered marketing automation can streamline marketing processes. Marketers gain time and space to focus on other aspects of their job — such as creativity and strategising. Thanks to data and algorithms, AI marketing automation makes sending personalised content to customers easier. Other benefits are cost efficiency and optimisation of ROI.
By adopting the trends, HLS companies can meet the evolving needs of their stakeholders and establish themselves as leaders in this fast-paced industry.
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Choosing a Marketing Automation technology is not an easy task. After all, technology is just one piece of an effective Marketing Automation strategy. It’s vital to understand business needs and objectives and customers’ needs. These factors will heavily influence the decision-making process and the subsequent success of your strategy.
Ultimately, the right Marketing Automation technology will enable companies to streamline processes, nurture customer relationships, and achieve business goals more effectively.
One of the most popular and proven technologies in this field is Salesforce, known for its robust capabilities in facilitating effective Marketing Automation strategies. We encourage you to contact our experts to delve deeper into this topic, as they can provide further insights into how technology could best meet your specific needs and objectives.
Senior Key Account Manager
sales@craftware.com
