Digital Marketing: Industry by Industry: Retail, Pharma and Insurance
This month, we’re looking at retail, pharma and insurance.
- Insurer LV embarked on a large-scale digital transformation project last year, and this has now developed into a new brand strategy focused on translating the company’s brand purpose through digital channels. Led by Chief Customer Officer Heather Smith, this strategy will be supported across brand marketing and digital. “It makes sense to bring these teams together because they are part of the same ecosystem. If you operate in silos you lose something in the execution, because it comes through too many touchpoints and is not as aligned to a really well executed vision.”
- Instagram shopping has launched its shopping service in the UK, allowing the retail industry here turn their posts on the social media network into sales. Launched in the US last year, the service allows retail firms to monetise the platform more directly than simply advertising products and directing to their site. A variety of firms have trialled the service, including Marks and Spencer’s. Erin Roy, Head of Media and Digital Marketing, said “Instagram shopping offers us the realise the huge potential of our 760,000 followers. Instagram has always been a great platform through which to showcase our products and engage with customers. Shoppable posts take this to a whole new level.”
- Is it possible that pharma marketers will soon have access to targeting solutions based on digital phenotyping? Some in the industry believe so. Digital phenotyping is defined as “moment-by-moment quantification of the individual-level human phenotype using data from personal digital devices.” Indeed, a growing number of tech companies and researchers are tracking users’ social media posts, calls, scrolls and clicks in search of behaviour changes that could correlate with disease symptoms. For instance, Mindstrong Health, a mental health startup, is analysing smartphone usage in an attempt to detect signs of depression. Facebook is already using artificial intelligence to scan content posted by users for signs of suicidal thought and then display notifications or alert local authorities so they can follow up and intervene if necessary. While there are lots of unanswered questions about the accuracy of digital phenotyping, it’s not difficult to see the potential for it to also be applied to digital marketing, giving pharma marketers the ability to target consumers on more than just demographics, interests, search keywords, etc.