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The False Economy Of Digital Metrics

snakeoil

Data, data, everywhere – but none to help me think.

The term ‘Big Data’ is the jargon du jour, but little operational excellence has come about in the pharma industry to justify the buzz. Partly this is due to the fact that leveraging ‘Big Data’ is an internal and operational challenge, one that the typical agency is unqualified to surmount. The other is that, and let’s be real here, the ‘Little Data’ around digital marketing is mostly bunk, and you don’t get permission to do the big things unless you do the small things well.

What do I mean by ‘bunk’ you ask? I believe that pharma has been blindly living in an accepted false economy of digital metrics, and unless a concerted effort is made to correct the problem, digital will continue to remain a second or third class citizen in the overall marketing mix. These challenges center around three specific issues: The mythology of ROI, a lack of integrated analysis, and the continued ignorance of the industry to pay anything but lip service about wanting to fix the problem. I’ll unpack these one by one. Read More…

Sorry Nerds, The Wearables Market is a Bonafide Mess

The KeymasterSo I’ve spent a fair amount of time testing a number of wearables over the past few weeks. Some of this I’ve done for my own edification, some for my own self-improvement, and all of them because I wanted to better understand the market prior to the launch of the Apple Watch. After over a year of using the likes of Google Glass, Microsoft’s Band, the FitBit Surge, and the Fitbit One, I can safely say that the wearables ecosystem is a fragmented and unreliable quagmire of devices.

I don’t doubt the potential of the platform. Juniper research predicts that by 2019, the wearables market will generate almost 53 Billion in revenues. This seems realistic to me. Apple will undoubtedly drive the growth of this category and if the reports are true, Cupertino is expecting big sales when the Apple Watch launches. But let’s face it, by all accounts, the market has yet to mature. Here are the 5 challenges currently facing the wearable marketplace. Read More…

“Flop”

An Apple a day...I’ve reported on the hackneyed approach that tech journalism sometimes employes, but this CNN/Money takedown article is just laughable. The author, David Goldman, outlines his ‘report’ on why Apple Watch will be a failure (despite admitting it will probably be a billion dollar product for Apple), and uses little to no data to support the claim. Here’s what I mean…

It costs $350. That’s a lot of money to fork over for a device that adds a slight bit of convenience. It doesn’t do anything more than your iPhone does — it just allows you to do some iPhone functions on your wrist.

Apple has always occupied a premium space in the market. iPhones cost a bit more than most of their counterparts in the Android space, but all you need to do is look at Apple’s quarterly numbers vs. Samsung’s and you can pretty clearly argue Apple’s pricing strategies are working. Even still, the Apple watch will do a fair bit more than what your iPhone can do. For instance, monitoring glucose levels, or controlling your electric car. The app possibilities for the Apple Watch platform won’t be known for some time. The iPhone launched without an app store and didn’t really do that much differently than other, more poorly designed products that were on the market at the time. Look at what’s happened since. Read More…

About that Apple HealthKit hospital rollout….

healthkit-logo
Reuters has an exclusive report this morning about hospitals rolling out pilot programs using Apple’s HealthKit. If you work in this business no doubt link to it have flown through your Twitter feed all morning. If you read the MacRumors version of the article, it’s obviously all-Apple, but there’s a bunch of interesting things that are being overlooked in the Reuters report.

We shouldn’t be surprised by this. When Apple rolled out the HealthKit announcement, they indicated they were working with many of the EMR providers to begin integrating data collection. Reuters confirms this. Read More…