Andrea Alms Video:  Money In Motion 3 - B2B Healthcare Digital Marketing - A Deeper Dive

TRANSCRIPT:

Hello. My name is Andrea Alms and I am health care investor and financial manager. This is your money in motion. On the last episode we introduced the market size and other drivers of the business to business digital health care. As you may recall, in the last episode we shared, the global market is expected to grow in 2020 to 2027 at an average compound growth rate of 4.7%. In this report, that amounts to about $52 billion by 2027. Also in the last episode, we shared an interesting side. I came across B2B, digital marketing. Ad spending is down or slightly down flat. What we all recognize and makes intuitive sense is that COVID 19 lockdown, of course, digital spending increased dramatically from 2019 to 2020, namely the dollar spent on advertising related to COVID as public health organizations and private medical institutions raised awareness around safety testing and other pen related information. The pandemic fueled an influx of marketing around medical supplies as consumer adoption of television advertising for reopening or closing of doctor's offices. Will the pandemic have a lasting impact on US? B2B allocated ad dollars? Well, let's check out some forecasts in July 2021 forecast 2023 will be a pivotal year for us. Digital ad marketing and spending approaches 15 billion. The seismic transformation spurred by the pandemic will be permanent. Last year, B2B pivoted from in-person to digital, and in 2021, the growth in digital spending will even be greater than originally estimated, indicating the shift to digital isn't slowing down. Digital ads were made a more prevalent part of the mix for years to come. As for the underlying drivers, what I found interesting is that the new business business buyer is a millennial at their desk. Top 46% of all B2B research's and buyers are millennials. 67 of the purchases for multiple industrial manufacturing packaging are influenced by digital and 80% of all business. The business buying decisions are based on the buyer's, direct or indirect customer's experience, and only 20% is based on the price or the actual offering. So as you can see, business to business, not everything's going mobile. B2B will be dominated by the desktop. Make sense? The bottom line is that not everything is going to be direct to consumer and not everything is going to be on mobile. Hence this multibillion dollar market and stickiness of business to business. Digital Health Care Marketing. Let's keep an eye on this investment space. Thank you. This is your money. Your money in motion.