PM360 2021 Innovative Strategy Digital Media In-housing from Bayer

Digital Media In-housing

Bayer

Erica Hawthorne, Executive Director, Digital Media Strategy & Operations
erica.hawthorne@bayer.com

Paid media comprises the lion’s share of a pharmaceutical marketing budget. To make matters worse, digital media plans are often rigid, cookie-cutter, and rely on pricey endemic buys and broad reach tactics, while locking valuable customer insights in platform or agency siloes.

In 2020, Bayer Pharmaceuticals embarked on an industry-first strategy that will bring all digital media planning and buying in-house by mid-2022. This is not a new idea. In fact, 69% of U.S. brands have taken programmatic in-house, according to a 2020 survey by IAB and Accenture Interactive. However, pharma has been slow to adopt this trend.

Bayer’s Pharmaceuticals division partnered with

Media.Monks to design and activate an in-house model. They hired a head of Digital Media Strategy & Operations and mobilized a team to stand up adtech platforms, process direct buys, and transition more than $50MM in digital media buys in-house.

In just 10 months since transitioning to the new model, the strategy has already made a difference:

  • Bayer has saved millions in agency fees.
  • As the in-house model has grown, the overall digital media spend has increased.
  • Media buying processes have resulted in reductions in cost-per-qualified-audience across all major brands.
  • Customer engagement has resulted in higher ROIs per digital media tactic.

With the impending deprecation of cookies, and the ability to translate data into actionable insights, in-housing will become a competitive advantage. Bayer Pharmaceuticals is removing the barriers that lock data and customer insights in unactionable siloes and cutting down the time from insight to action, setting up for a sustainably differentiated future.

Ads

You May Also Like

2020 Pharma Choice Multichannel Bronze Winner Propeller, DiD, and Novartis

Propeller, DiD, and Novartis The Complete COSENTYX Approach (CCA), Becoming the Paradigm for Psoriatic ...

PM360 2019 Innovative Company Novocure

Novocure Ashley Cordova, Vice President, Finance and Investor Relations acordova@novocure.com Nearly two decades ago, ...

PM360 2020 Innovative Company Mission Bio

Mission Bio Hannah Viernes, Mission Bio viernes@missionbio.com Only 3% of cancer drugs tested in ...