In the month of April, the culture experts at Santiago Solutions Group, Inc (SSG) participated in the Xpectives.Health 2023 Summit in Boston, MA where industry experts in pharmaceuticals, healthcare, insurance, agencies, and more gathered to discuss the latest healthcare trends and obstacles in the US and on a global scale. As the need for Multicultural Marketing and DEIB (diversity, equity, inclusion, and belonging) strategies increase, SSG presented on the importance of cultural inclusivity in ads for both pharmaceuticals and healthcare industries. Here are a couple of key takeaways:
1. Pharmaceuticals and Health Insurance Continues to Trail Behind Other Categories in Cultural Relevance
When evaluating advertisements through the Cultural Inclusion Accelerator’s CIIM™ Tool (Cultural Insights Impact Measure), Pharmaceuticals and Health Insurance industry ranked third to last in the 3rd Quartile as Below Average Cultural Performance. Compared to all other industries, Pharmaceuticals and Healthcare under-indexes between 14%-30% across all Cultural Attributes and is especially low for attributes such as Inclusion/Acknowledgment, Cultural Celebrations, and Cultural Identification.
2. When Culture is Properly Embedded, Marketers Can See up to 330% Lift in Purchase Intent
Luckily, there is room for improvement and marketers can see great benefits from increased cultural relevance. As seen in the graph below, there is a significant impact on sales lift, and purchase intent nearly doubles from when ads are ranked in the 2nd Quartile (Good Cultural Relevancy) to the 1st Quartile (Best-In-Culture).
Cultural representation in Healthcare communications takes on a magnified level of importance given the significance of its impacts. From a societal standpoint, ensuring that marketing and communications materials are “in-culture” will allow Pharmaceutical and Healthcare companies to both target and communicate effectively with Multicultural & Inclusive consumers. Santiago Solutions Group has created a unique framework recommended for embedding cultural inclusivity and authenticity in marketing and communications materials. With proper Multicultural consulting on creative briefs and growth strategies, health marketers can achieve brand growth while building trust and getting patients the important healthcare they need.
For more information on this study, contact [email protected].