eHealthSystems, Pune is right in the midst of launching their product across the world and India. This is huge for the health care industry and it make me really proud that this company is based out of Pune. The gist of their product pitch is the concept of making available all your healthcare data in an app which can be updated and edited. But that’s not all – eHealthSystem have BIG plans on this product line. They have escalated this into a EHR data platform across all existing legacy systems and have branded it LIVEWIRE.
Here is a brief synopsis of the LIVEWIRE concept. Please do visit www.ehealthcardindia.com for more information and to get in touch with these health warriors!
Health Care – Big Data Streams and Analytics
Unstructured data in healthcare is of gigantic proportions and is growing every day. This data originates from devices, lab and path report, second opinions (even data from medical summits and conferences), clinical data and insurance and financial data. Analytics from this data will go a long way in improving patient care and increasing efficiency, especially in emergencies.
Healthcare data streams that will benefit from big data and analytics:
Mary Meeker’s Internet Trends Report for 2017 is out!
It’s brilliant because its totally graphic in presentation. The results of this report is fascinating, to say the least. More so for India, in the way that users are adapting and operating online.
Here is a quick analysis of the trends in India.
First, Meeker’s acknowledges that India is the fastest growing economy in the world and No 7 on the World GDP rank.
Now this amazing slide with numbers that should really keep you perked up. 27% Internet penetration which is a 28% growth YOY. Thats 355 million users! No 2 behind China. These figures should be an eye opener for the advertising and marketing fraternity. Licking their chops, literally!
Smartphone shipping going through the roof for India in pure numbers but showing negative YOY growth. Feature phone or non-smart phone still constitute a big chunk of the total shipments but that will change for sure in the coming years. Plus the cost of the smartphone has reduced dramatically over the last 5 years which gives credence to the deduction that smartphone sales will keep going up.
Data costs have more than halved in the last 3 year and should keep going down as the penetration of smartphones increases every year.
For more interesting data about carriers, consumer data price trends and volume of broadband subscribers in India download Meeker’s PDF here.
There is though a flip side to retargeting for online customers and visitors. Retargeting, in its very nature, is a one on one advertising campaign. The aim to to keep pursuing the visitor to your website so that the visitor is compelled to revisit your portal and make a purchase.
Remember, there is no one else in this conversation with the person who visited your portal or website. Just you and him. The problem is this – how do you know when to stop targeting your online ads to this person?
Case in point – I wanted to book a hotel room in Kodaikanal for 4 nights in July. I checked out a couple of hotels on makemytrip.com as well as trivago. After a couple of days of checking up on the details for some hotels i had short listed I was now being “retargeted” on my visits to the internet across browsers and forums. This retargeting DID help in keeping the name of the Hotel fresh in my subconscious.
A week back I went back online to makemytrip.com and booked a hotel after tying up all the loose ends for my trip.
Here’s the problem. The retargeting continues. The algorithm has no way to understand that the “sale” has been done. Now, for most people a trip to Kodaikanal is probably a once in a lifetime visit. Being so far away its definitely not going to be part of my annual holiday destinations, like lets say, Goa.
When does the retargeting algorithmn realise it needs to stop?
If you’ve heard of retargeting and think it’s a strategy you want to invest more in, you’re in good company. In the old days of marketing, only the biggest brands could afford to get their messages out to big audiences via mass media vehicles like TV and radio. These days, increased media fragmentation and new tools like retargeting have evened the playing field, allowing mom-and-pop-shops to drive awareness among their target audience even faster than many large brands.
Retargeting provides a huge opportunity to small- and medium-sized businesses, but many marketers aren’t aware of how it works. How do you get started? How do you ensure you’re getting the biggest possible return on your investment? Outdated information about retargeting online can confuse good marketers and keep them unnecessarily sidelined.
What Is Retargeting & Why Is It Beneficial?
If you were to look at your conversion funnel, how often would you find that a first-time visitor visited your website, viewed a product, and then made a purchase all on that first visit? Chances are you’d be lucky if you saw that behavior once.
Making a sale is a process. Studies have shown that up to 98% of your visitors leave your website without converting. Another study on the conversion funnel by Google found that most of the times, it takes several steps for a user to go from visit to conversion, and it’s actually not uncommon for a visitor to take more than 30 steps before making a purchase!
Retargeting helps you tackle this problem head on. It allows you to target and serve ads only to people who’ve previously visited your website, used your mobile app, or in some cases, visited and bought something from a physical retail location. This means you can be very strategic and efficient about who you’re reaching and where you’re spending your marketing budget. Retargeting provides two primary benefits: It maximizes ROI and keeps you in front of prospects.
Marketers don’t often think of retargeting as a brand-building tool, but this represents a huge missed opportunity. One of the greatest benefits retargeting offers is that it keeps your brand front and center with a targeted audience.
Sometimes you might do this to try to drive a direct response, as we outlined in the section above. Other times, though, it also gives you an opportunity to build up your brand’s familiarity with your target audience and increase the likelihood of a future indirect action like a Google search or an organic site visit.
These indirect effects can be significant. In fact, comScore found that retargeting campaigns led to a 1046% increase in branded search and a 726% lift in site visitation after four weeks of retargeted ad exposure.
It’s a powerful direct response tactic that maximizes ROI. In the environment of conversion funnel chaos mentioned above, no other advertising tactic offers the return that retargeting does. Retargeting offers the most direct and effective means to:
– Reconnect with your highest value targets — people who’ve previously expressed interest in your offerings
– Recapture their attention with an effective, compelling message
– Move them further down the sales funnel