It goes without saying that technology has enhanced healthcare systems and practices around the world. New tools and solutions have impacted every point in the patient experience, from sharing health records to early detection and noninvasive procedures, improving the way healthcare professionals approach diagnosis and treatment. We even saw a decline in preventable illness and death, significant reductions in treatment and recovery time and an overall improvement of patient well-being. However, the COVID-19 pandemic showed us that despite these countless advances, there is still a lot of untapped opportunity.

Increased demand during the pandemic led to new records in 2021 for venture capital (VC)-backed healthcare funding, investments and exits. In the U.S., total VC funding in the healthcare sector rose to $29.1, nearly doubling 2020’s record, across 729 deals. At the end of last year, there were 42 new HealthTech unicorns around the world collectively valued at $154B+.

With heightened competition for awareness and dollars, credibility is key. Creating news moments from investment rounds, sizable customer wins, partnerships and end-user use cases will bring stories to life and propel future company growth. There is so much new health technology and so much of it is hyped. True thought leadership, rather than product-led promotion, is a good way to get the attention of time-poor decision-makers. With strong research-based training, many healthcare leaders are very interested in learning from peers. Organizing events with their peers is another great way to build credibility.

Here are some of the biggest categories that are on the rise and where we see the story – and communications opportunity – evolving quickly:

• Telehealth Innovation: Digital health accelerated during the pandemic, with some healthcare leaders saying they saw a decade’s worth of innovation occur in months. Telemedicine, or telehealth as it is often known in Europe, continues to be a priority for healthcare leaders and is increasingly welcomed by patients. The move to virtual care outside of hospitals and medical offices will continue to expand healthcare access, which has the potential benefit of making the entire system more inclusive. It can also shorten hospital stays allowing greater efficiencies for healthcare providers. At the same time, doctor-to-doctor telehealth is also improving access to care, beaming specialist expertise into smaller, rural facilities that cannot usually support these specialists on the ground. Virtual care in settings like pharmacies and community centers, at-home care and remote expertise in clinics is here to stay and technology innovations will continue to improve remote patient diagnosis and treatments. Wearable devices and advances in drug delivery and apps will drive greater engagement.
• HealthTech Tools: Going in-hand with the rise of telemedicine, more wearable sensors and devices are being developed and are propelling investments. Employers are increasingly embracing mobile health tools for enhanced employee benefits, including mental health services, diet and lifestyle coaching, digital pharmacies and more. Consumer wellness applications have broad appeal by offering services like weight loss, at-home workouts, physical therapy and even in-home care for seniors and children.
• Predictive analytics and AI: We are in the early stages of the adoption of AI in healthcare, but with the right guidance and regulation in place, this technology offers huge potential. We are increasingly seeing healthcare providers use automated, prescriptive analytics to help improve the operational side of their facilities and to aid treatment. One area of AI to watch is digital twins that monitor, simulate and streamline data from devices. In healthcare, twins are largely used for modeling and prediction. For example, by integrating different measurements from a patient over time, and linking these biophysical models, it is possible to build a personalized digital model of a heart that doctors can then use to model different outcomes very accurately, ultimately improving treatment for that patient, often with fewer invasive treatments.
• Better data integration: As with most technologies, those highlighted above are underpinned by data. Unlocking siloed data to enable safe, secure sharing beyond the walls of a single hospital is a priority for hospitals and medical offices globally. It can make diagnosing a patient much more efficient, but it’s also important on the operational side. The pandemic has exacerbated staff shortages within healthcare. Giving healthcare staff easier access to data is one way of removing the administrative burden that takes up so much time for most healthcare professionals – time that could be spent treating patients.

We are still in the early stages of the digital health revolution. The pandemic was just the kickstart needed to propel attention and investor dollars in the sector. There is significant advancement and opportunity in health, especially relative to the GDP it consumes: healthcare is a $4 trillion sector of the U.S. economy, accounting for roughly 20% of the U.S. GDP. The UK healthcare market is projected to reach $1,951.7 million within the next four years – an annual growth rate of 6.4%. Like many industries, HealthTech companies globally are trying to appeal to talent who can help accelerate their businesses. A key benefit: The sector tends to appeal to mission-driven technologists who want to make a difference in the world and impact millions of people.

This is an exciting space, and we cannot wait to see how things develop.

We’ll see you next month when we will explore the intersection of tech and consumer lifestyle.

As an industry, influencer marketing has expanded exponentially over the past few years. Worth just $1.7 billion in 2016, the industry is set to reach nearly $14 billion this year. Seventy-one percent of marketers plan to increase their budgets in the next 12 months, investing heavily in micro-influencers to target niche audiences.

How can organizations capitalize on this growth? Read on to see the influencer marketing trends we’re tracking in 2022.

Negotiation Opportunities When Working with Influencers

We know there is inequity in how influencers are compensated, particularly evident with influencers of color. This is not a new trend, but we are beginning to uncover the reasons behind this and see how people are working to address it. There is more work to do here – not only in terms of dollars but also in terms of brand opportunities for diverse influencers. In 2022, influencer marketing experts are predicted to be savvier negotiators, basing their worth beyond just “quoted rates.” Research shows influencers of color may undervalue their rates  on projected value, which is determined by methodologies that factor quantitative and qualitative data to maintain objectivity. There will be a growth in understanding equity in terms of an appropriate value exchange but also in terms of influencer opportunities – not just in cash but also broader partnerships offered – maintaining an audience-first focus.

Subscription Services Driving Influencer Salary

Influencers have been diversifying their compensation models and aren’t reliant on one stream of income. Ad network revenue and affiliate marketing are becoming as lucrative and consistent as brand sponsorship deals. 

But now, the trend is toward subscription services – not necessarily driving to a paywall but within social platforms where they’ve already built audiences. Instagram has launched a subscription service for users to pay for extra content from influencers in the platform. Superfans can decide to invest in up-leveled content from their favorite influencers. TikTok is also testing subscriptions for influencers and has already rolled out other ways to monetize content in the platform, such as tips from followers through the Creator Next program.

Currently, these options are only available to eligible influencers and come with a healthy dose of criticism from creators, so communicators should watch to see how it evolves this year. 

Affiliate Links and Social Commerce are on the Rise

The industry is getting more strategic about using influencers to drive sales in-platform as opposed to driving to an e-commerce site. Brands are also incentivizing influencers to drive lead generation because consumers are not always ready to make an in-platform purchase and/or the client doesn’t sell online.

Influencer Behavior Poses a Risk to Brand Image

What happens when a brand is on contract with an influencer and the influencer does something or a post is resurfaced that goes against the brand’s values? In today’s “cancel culture,” it’s important to have clauses in influencer marketing contracts and to recognize the inherent risk with working with real people. Communicators must have a plan to address any unforeseen incidents. Additionally, be aware that if you’ve previously worked with an influencer that is deemed “canceled” by society for whatever reason, they may still be associated as an ambassador of the brand in the minds of consumers. Influencer vetting must go beyond quantitative data to the human element of evaluating brand safety and values alignment. 

Paid Amplification is Even More Imperative to Reach Targeted Audiences

With platform algorithms deprioritizing sponsored content, there has never been a more important time for paid amplification. We have never equated influence to mass reach alone, but of course want as many people in our targeted audience to see the content we invested in influencers to create. Reach figures are pulled as part of the discovery phase, but communicators can’t rely on organic figures as performance metrics for sponsored content due to algorithms. Utilizing paid options is imperative in influencer marketing, period.

Influencer Marketing Growth in Regulated Industries

There are more opportunities for sectors like healthcare and financial communications, and we’re seeing the fastest growth in these highly-regulated industries. Understanding how to navigate and maintain influencer authenticity, creativity and collaboration given layers of content reviews is critical. Even in highly-regulated industries, influencer marketing doesn’t work if influencers are only regurgitating ad copy. 

Influencers as Part of an Integrated Media Approach

Many influencers have larger audience sizes than traditional magazines and media websites. Influencers have been offered TV shows that they’ve turned down because they already have large, engaged audiences in the social spaces they’ve built, making more money than they would starring in a traditional TV show. Brands need to view influencers similar to media. They’ve worked to develop a loyal following in the spaces they own and in doing so, have developed themselves into a “media” outlet. Brands and communicators need to be think of influencers as “media” and journalists as “influencers” with an integrated marketing communications mindset.

Vertical Video Dominates Social Platforms

The cinematic horizontal format is no longer the default for professional creative. Vertical videos garner more impressions and views than horizontal videos. It’s the optimal format for navigating a device one-handed and thumb-swiping through videos in a visual platform. Think about the creative you’re asking of influencers, how it will be amplified across channels and how to use influencers as a brand’s initial way “in” to an owned TikTok channel or Instagram reels. Social video consumption is vertical today and we need to be collaborating with influencers to make that format work best. High production quality is not necessary.