In this video interview, DeepIntent Founder and CEO Chris Paquette discusses how the data company is leveraging its resources to help pharma marketers reach consumers and patients in an effective way.
The explosion in health data and electronic healthcare records means that today’s healthcare consumers are better informed than ever. That’s putting pressure on healthcare providers to change the way they engage with patients and consumers. To stand out, pharma marketers and healthcare providers need to know what information is already available to consumers, so that they can better communicate with patients and truly partner with them on their healthcare journey.
Aimee Gutzler:
Hi there. I'm Aimee Gutzler, senior conference director at Fierce Pharma. I am joined today with Chris Paquette, founder and CEO of DeepIntent. Chris, thanks so much for joining us.
Chris Paquette:
Thank you for having me. Great to be here.
Aimee Gutzler:
Sounds great. Before we dive into the questions I have for you, can you tell me a little bit more about yourself and DeepIntent?
Chris Paquette:
So, I'm the founder and CEO of DeepIntent. I founded the company in 2016. It's been a long ride, a fun ride. We've really been at the forefront, I think, of programmatic advertising, digital advertising and healthcare and health data.
So, we've built DeepIntent. What people know us best for, is our healthcare DSP or our demand side platform, allowing different advertisers and marketers to reach patients and healthcare providers, but where we're increasingly finding more interest, and where we're going, is solutions in the data and measurement space and in targeting as well.
So, it's exciting times for our industry and we're really happy to be at the forefront of it.
Aimee Gutzler:
Awesome. Thanks so much for that.
Chris Paquette:
Yeah, thank you.
Aimee Gutzler:
So, let's dive right in then, shall we?
Chris Paquette:
Sure.
Aimee Gutzler:
How have customer and patient expectations evolved in the current healthcare marketplace?
Chris Paquette:
So, we're finding, and just out of personal experience, with my family and friends, patients are becoming better informed, they're doing a lot more research on their own. The accessibility of having information at their fingertips, on their cell phones, or on their computers, patients are going into those points of care with more information knowledge than ever before.
And so, what that's doing, is that's putting a lot of pressure on healthcare providers, to have to change and adapt the way they engage with patients and consumers, and ultimately, they need to know in advance what sort of information is out there, so they can have answers.
I think it's becoming incredibly competitive for a healthcare provider to really stand out, because it's really important that they give the right information, but also have the bedside manner and be able to communicate and act as a partner to the patient, at the end of the day, for their care.
So, I think the expectations of patients and consumers, is that when they go see a physician, that physician has the full context of their medical history, and they're making holistic, informed decisions.
So, better education, better knowledge of awareness of treatments and trials, those are my two t's, as I like to say, and that's really kind of where we see the opportunity going forward.
Aimee Gutzler:
Absolutely. That's fantastic.
And how are digital experiences and solutions changing, how pharma companies can better meet consumer needs?
Chris Paquette:
So many ways. So first off, ever since the Obama administration put in for electronic health records, that's been kind of the mandate. There's been incredible adoption, from just an uptake from the healthcare provider community, that has led to this explosion of health data that's now available, and what I've seen over the last, I'd say, six years doing this, is that there really has been a shift of companies thinking, "Hey, we have this data. How do we help marketers and how do we help pharma and other healthcare entities, use that data in productive ways, to improve patient outcomes?"
So, I think what's really matured, is the business models and the ways of how we actually can bring that data, not to mention, do it in a privacy-safe way, which is incredibly important, so I think, those are the types of technologies and those are the types of opportunities that we see on the horizon for us.
Now for digital, I think on the media side, the way my brain thinks on data and media, on the media side, I mean everybody knows since the pandemic, CTV is up and to the right, right? I mean, we have so many more streamers, cord cutters. I think 90% of households now have a smart device, that they can connect and they're on things like Roku and LGTVs and Smart TVs in general.
So what we're doing, is we're really helping to connect all that great data, in a privacy safe way, to those media opportunities, and ultimately, help the marketers be more effective at making treatments and trials aware.
Aimee Gutzler:
Fantastic. Now what does the next generation of tools and services look like for pharma marketers?
Chris Paquette:
Yeah, so in the same vein, I am seeing, obviously there's headwinds ahead of us, I think anybody who's watching the state privacy laws come into effect, the lack of really strong leadership at the federal level, there's going to be this patchwork framework of privacy and regulatory enforcement of all these different ways of, how data's being used and manipulated for use cases like marketing.
What I'm really excited about though is, there's so many technologies and new techniques that have the opportunity to allow marketers to get hands on with this data, in a way where they never actually have to see the patient data underneath it.
So this concept of clean rooms, I think that's kind of the new hot button, hot topic. I think that, that's probably the most exciting area coming forward, and then when you combine clean rooms with, opportunities like in connected television, when you have 70% of budgets are going to linear television and then, all of a sudden, you now can bring data to those types of buys and interactions with patients, there's just untold amount of opportunity at that kind of intersection between connected television and data clean rooms.
So from an opportunity perspective, I think that's where a lot of interest and our own focus is going to be at.
Aimee Gutzler:
Well, that's so great, and that's about all the time we have, Chris. Thank you so much for being here and for a great conversation.
Chris Paquette:
Thank you so much.