BY Adam Ambro
Challenge: Trying to create a compelling medical trial ad campaign
Gabriel Fuentes, a veteran account executive from Effectv, approached a local research service looking to create a medical trial ad campaign, but was struggling to figure out the best way of going about that in their market.
“The business specializes in medical trials, and their goal is to recruit candidates for different studies, with monetary retribution for the candidates’ time,” said Fuentes. “They really appreciate data and mostly make decisions that are backed and proven with data.”
“They were struggling [to find] candidates for their medical trials as they were buying broadcast media, which did not allow for audience-based or zone-based buying.”
Solution: Provide multiple AdMall data points to leverage his sales pitch
Fuentes has been using AdMall for only six months of his ten-year career, yet already knew he could use the tool to create an effective medical trial ad campaign.
“We were able to target by demographics such as household income, age and much more,” said Fuentes. “Our capabilities, paired with AdMall, created an unmatched synergy for the client. I was able to provide heat maps on which areas were indexing higher for people with diabetes or pulmonary disease. This helped in selecting which zones we should focus on. Moreover, the data insights helped us determine what radius we should focus on when selecting these high indexing zones.”
Result: Another closed sale using AdMall intelligence
Fuentes’s sales acumen, in collaboration with AdMall’s sales tools, helped him close the medical trial ad campaign for his client. The liner TV, mixed with CTV, sale was large, and his client is confident their campaign is now much more targeted to their ideal audiences.
Fuentes might be new to AdMall, but already proving to be successful with it, recommends it to all sales reps.
“I recommend the use of AdMall all the time when prospecting or building strategic proposals,” said Fuentes. “Many clients don’t have access to this data, so being able to add value to their business is instrumental when showing your value as a partner.”
More About: Research Services, Clinical Trials
When the first Contract Research Organizations (CROs) came onto the scene in the 1980s, their goal was to help industry partners bring new treatments to patients more quickly and efficiently. This same decade, the U.S. Food and Drug Administration (FDA) completely reworked clinical trial design. New drug application submissions required increasingly detailed information. Pharmaceutical companies felt compelled to hire professional help to cope with the change.
Drug manufacturers and government agencies such as the National Institutes of Health hire private firms to run drug development and manage clinical tests. However, not all clinical trials are outsourced. Drug companies may choose to run the trials themselves. The independent firms that run drug development and testing are called independent contract research organizations. These firms compete with each other by bidding on contracts. Additionally, colleges and universities can also run clinical trials and compete with CROs.
The top 9 CROs are estimated to hold about 60% of the market. The U.S. market for outsourced research and testing is estimated to be worth about $56.7 billion in 2022 and $76.6 billion in 2023. In any given year, up to 25,000 clinical trials may be run in the U.S. This is because many pharma and biotech firms plan to outsource more of their clinical testing needs and focus on new product and drug development.
Researchers are looking for ways to manage clinical trials more efficiently. CROs have invested in new capabilities that address development challenges such as big data partnerships, patient recruitment, health economics, and outcomes research. Projections estimate that CROs will take over 70 percent of clinical trials in 2024 involving more than 2 million research participants.
