In the latest episode of The HealthTech Marketing Show, we take a deep dive into programmatic advertising in healthcare marketing with Scott Stedman, founder of the B2B agency Imaginarium, and Paul Vandre, Account Director at HealthLaunchpad.
Dive is the operative word, as many marketers think programmatic is a sewer. However, if used the right way, it can be a very effective tool for B2B marketers.
We explore how programmatic advertising, once primarily used in B2C, has increasingly become relevant for B2B healthcare due to advancements in account-based marketing (ABM) platforms.
Scott and Paul discuss how programmatic technology allows for precise, cost-effective targeting, not only on traditional digital ads but also across streaming platforms and even physical locations. They highlight the efficiency in reaching target accounts, managing complex buyer cycles, and tailoring ad content through the different stages of a healthcare buyer’s journey—from building awareness to nurturing leads and closing deals.
They also share insights on tech stacks, data privacy, omnichannel campaigns, and measuring effectiveness in a landscape of long sales cycles and multiple touchpoints.
Here is What We Cover:
- Introduction to Programmatic Advertising
- Programmatic Advertising in Healthcare
- Strategies for guiding prospects through the buyer journey
- Key technologies and tools for programmatic advertising
- Measuring the success of programmatic efforts at the account level
- The future of programmatic advertising and data privacy
Pros and Cons of Programmatic
Things We Love About Programmatic
The most significant advantage of programmatic is that, done right, it allows you to target accounts very efficiently. And you can narrow your focus to the companies you want to reach. Programmatic doesn’t require huge budgets to reach specific accounts effectively. For example, you can run effective tests with $10-30K over 3-4 months,
Programmatic has omnichannel superpowers. It allows you to reach audiences across multiple channels (display ads, CTV, radio, outdoor). Firms that have mastered programmatic see “exponential impact” when it is used across channels rather than a single channel. Because the costs are so low, small brands can appear alongside major brands on traditionally expensive media like TV.
You can adjust targeting based on intent signals, so you can “turn up the dial” on specific accounts showing interest. One of the coolest things is that you can target users across multiple devices (computer, phone, tablet).
Things We Don’t Like So Much
It’s complex and certainly not as intuitive as platforms like LinkedIn. You must understand how to use complex data tools and the ecosystem of different programmatic platforms. For example you will need to master the DSPs (Demand Side Platforms) and bidding systems.
Programmatic has worked well in B2C markets for fifteen years but has only recently gained traction in B2B marketing. This is partly because success is hard to attribute in long sales cycles (12-18 months), and it’s also challenging to isolate impact compared to other marketing channels.
To get full value out of programmatic in B2B, you will need good account-based measurement capabilities. Programmatic works best used in concert with pricey ABM platforms that are better at providing detailed attribution data. This requires first-party data tracking infrastructure.
Last but not least, programmatic has a reputation as a “sewer of advertising,” according to Scott. Brand safety is critical, and you will need to carefully manage where ads appear and invest in tools to mitigate where your brand is advertised.
How Can You Get The Most Out of Programmatic
The key factors in succeeding with this channel:
- Having a clearly defined ICP (Ideal Customer Profile)
- Having a solid first-party data strategy
- Using it as part of an omnichannel approach, not a standalone
- Take the time to develop a thoughtful measurement and KPI framework
- You may need to use partner/agency expertise initially
- Focus on account-level vs individual-level tracking