Contextual advertising, defined as the practice of delivering ads on web pages based on those pages’ content, is gaining in popularity among digital advertisers, including pharmaceutical manufacturers, healthcare supply chain companies, and healthcare diagnostic companies. In fact, contextual advertising is forecasted to grow by $279.2 billion over the next few years.1
It’s not surprising that advertisers have adopted contextualized ads in droves; digital advertising’s evolving state requires advertisers to find new ways to reach their target audience across the web. Contextual advertising is one of those ways. Here are five benefits of contextual advertising and why all HCPs, pharmaceutical manufacturers, healthcare supply chain companies, and healthcare diagnostic companies should incorporate them into their digital strategy when targeting HCPs and healthcare executives.
Benefit # 1. It Just Plain Works
According to a study, contextually relevant ads generated 43% more neural engagement and 2.2 times better ad recall.2 The study also concluded that the contextually relevant ads inspired a statistically significant increase in purchase intent. This makes sense given that they revolve around data tied directly to the web page’s content. For example, a pharmaceutical brand promoting a new rheumatology drug could target keywords that rheumatology professionals would search for online—think “disease-modifying antirheumatic drugs (DMARDs).” This ensures that their ad shows up on a related web page. And it works. Incorporating a super-specific keyword strategy into a contextual advertising campaign can increase brand awareness by up to 93%.3 As the technology behind contextual advertising advances, including the use of artificial intelligence and machine learning to populate relevant keywords on trendy topics, those numbers—and other KPIs important to advertisers—are poised to rise even further.
Benefit #2. It Actually Costs Less
The image on the top shows an ad for Vascepa on The Cardiology Advisor—an example of an endemic website (it’s directly related to the medical field). The ad on the bottom, which promotes the COVID-19 vaccine, is served on a webpage on Yahoo that has contextually relevant content about the vaccine. This is an example of contextual advertising.
Benefit #3. It’s Great for Brand Safety
Every advertiser wants their ads associated with websites that align with their values. I mean, who wants to wake up one morning and find their inventory on YouTube in association with videos related to child exploitation? When an advertiser goes into a DSP and sets up a campaign, they essentially tell it what they’d like in a perfect world for their budget. Sometimes that happens. Other times it doesn’t. Contextual ads remove much of this uncertainty due to enhanced intelligence tools and machine learning. In 2021, advertisers can tell the media platform exactly what type of content and keywords they want their ads associated with, and even more importantly, what they don’t want anything to do with.
Benefit #4. It Adds Extra Relevancy for HCPs
Benefit #5. It’s a Must in a Cookie-less World
By 2022, third-party cookies will be gone, so contextual ads can still help create an impact in a cookie-less environment. Rather than using third-party cookies, DSPs place contextual ads based on a web page’s content and pre-defined keywords selected by the advertiser. With further privacy regulations on the horizon that will likely strike a further blow to other targeting tactics, incorporating a contextual strategy will continue to play a significant role in healthcare advertisers’ digital strategy.