Innovation is the life blood of any industry, and consumer health is no different.

In the current consumer health products marketplace, increased competition is making it difficult for companies to stand out using traditional marketing strategies. To be competitive in this environment, companies need to be willing to adapt to changing customer demands, and re-think how they use technology to connect consumers to their brands.

Many consumer health companies have introduced new innovations in recent years including line extensions, new formulations, and innovative packaging. But they have been less innovative in how they use technology and data to market their products, and their value proposition for customers.

But for companies willing to re-think how and where they engage customers there are many opportunities to gain a quick competitive advantage.

Using peer-to-peer feedback to add value

One of the greatest opportunities for quick and effective innovation is harnessing real world feedback from existing consumers. Today’s customers want proof that a product adds value, and their preferred source of that proof is often strangers on the internet.

This presents both challenges and opportunities for consumer health organizations. While they can’t control what consumers say, they can leverage positive reviews, and customer sentiment as part of their brand strategy.

Customer comments and reviews on e-Commerce sites have become a leading tool for many consumers to compare which products to buy. When preference and user feedback is shared by other consumers it seeds grassroots branding efforts that can have a powerful impact on sales. One study, conducted by the Spiegel Research Center at Northwestern University, found when brands display reviews from other consumers it can increase conversion by 270%.

Soliciting reviews on e-Commerce sites, and proactively addressing customer comments and concerns is a valuable way to generate organic feedback that can be used to impact future customers’ buying decisions.

Benefitting from the real world

Real-world data from end users can also be mined to capture new evidence that differentiates a product in the eyes of buyers. Conducting real world studies can give manufacturers access to valuable proof of evidence at a much lower cost than running conventional clinical trials.

And they can provide more impactful insights because they look at the product through the lens of the consumer, capturing data around their product experiences and preference. These insights can range from product preferences around taste, smell or texture, to opinions about product quality, outcomes, price, and accessibility.

For example, IQVIA Consumer Health recently worked with skin care product company that wanted to capture consumer claims around the ease of use and effectiveness of a product for patients suffering from a specific skin condition. IQVIA Consumer Health conducted a retrospective real-world study of 500 participants and product users. The results confirmed that the majority of consumers had been highly satisfied with their experience. They found the product to be effective and they trusted the brand. The manufacturer was able to use these claims to differentiate the product in the marketplace.

Along with using real world claims to enhance brand value, brand owners can leverage real world studies to justify switching a product’s status from prescription to over the counter (Rx to OTC) sales.

Rx-to-OTC switches are important to support consumers in their self-care efforts. AstraZeneca recently conducted a real-world study testing consumers’ accuracy in self-diagnosing high cholesterol by using a web app.  The results showed that participant selection was concordant with clinician selection in 481 (96.2%) of 500 participants. The evidence could be used to justify selling statins OTC.

Once a product is offered OTC, digital tools, ranging from explanatory videos to diagnostic algorithms, can help consumers select the right products and use them in a safe and effective way building added value and increased safety into the market plan.

Developing the personalized future

Other brand owners are using sensors and real-world data to capture new endpoints to enhance understanding of a product’s benefits and to personalize the user experience.

For example, Hyfe developed an algorithm that measures the frequency of cough events by filtering cough-specific noise signals out of the general audio noise. This could be used to prove how a cough medicine is reducing cough frequency for individual users over time.

Nicorette developed the QuickMist SmartTrack tool, which connects to a spray device with nicotine allowing users to monitor their use of the spray. Consumers can set their individual goals and a linked app tracks their pattern of usage to support their efforts to quit.

And a Harvard University startup is currently developing a wearable device, called abbieSense, that senses anaphylactic allergic reactions. The device uses an algorithm that can predict the reaction’s severity, alert the individual and caregivers, and automatically inject epinephrine when necessary. It personalizes the product while increasing patient safety.

All these applications of real-world data and digital technology offer new opportunities for brand owners to enhance their products, bolster marketing, and appeal to consumers’ personal needs. When consumer health companies begin to explore what product features impact consumer preferences, they can capture and leverage a variety of real-world evidence to generate new interest in their products.

To learn more about the latest Consumer Health market trends check out our Webinar - The Consumer Health Brand Strategy Evolution.

You can also find out more about IQVIA Consumer Health’s R&D/RWE capabilities on our website here.