Using AI and Advanced Analytics Tools to Optimize Marketing Strategies

In a recent video interview with Pharmaceutical Executive, Amanda Powers-Han, Chief Marketing Officer, Greater Than One and Pharmaceutical Executive Advisory Board Member discussed the importance of patient engagement in pharma marketing. She emphasized the need for personalized marketing strategies that build trust and ensure data privacy. The use of AI and advanced analytics tools was highlighted as crucial for extracting meaningful insights from healthcare data. Powers-Han also addressed the evolving regulatory landscape and the importance of ethical marketing practices in the digital age. Additionally, conversation was had surrounding the challenges of measuring ROI in the pharmaceutical industry and the potential of personalized audio and video content in future marketing efforts.

As the volume and complexity of healthcare data continue to grow, how can CMOs leverage artificial intelligence and other advanced analytics tools to extract meaningful insights and optimize marketing strategies?

I don't believe I've had a client conversation over the last few months that didn't include AI in some way, shape or form. It is just, it is at the heart of our business, and has just exploded with generative AI and just all of the opportunities that that's opened up, some of the ways that we're leveraging AI is back to the idea of precision targeting. We're also internally building AI into many of our own workflows, which is driving efficiencies. And we're seeing a lot of really exciting innovations when it comes to AI driven content development, though we would say that in those cases, we are being very careful and cautious to make sure that it's the humans and those of us working with AI technologies and more of a kind of copilot relationship versus letting AI Drive content decisions.

What's interesting is, outside of the individual AI platforms, we're seeing that AI capabilities are being built into so many of the tools that we already use, which is wonderful for us, because it creates a really seamless way for us to be able to leverage the technology within and back to the idea of Audience Insights, one of the tools that we use allows us to build segments of rare disease patient populations, and then from that segment be able to tease out what are the media consumption behaviors of those specific populations. And it has an AI capability which helps summarize the insights, and it saves us a tremendous amount of time. And then the other area that we're exploring, that we believe there's a lot of potential, is building our own proprietary products with the help of AI. So, a couple of those are forecasting the right level of investment so that brand marketers know how much they're going to need to spend in order to achieve their business goals, and also connecting the dots so that we can actually look at how the investment is driving business outcomes versus just digital metrics.