Ausbiotech 2013 - Buchan social media presentation
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Biotechnology companies are built on innovation, yet many have been slow to use social media. This presentation was part of a panel session at the AusBiotech 2013 conference, and explores how, and why, social media can benefit biotechs.
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Ausbiotech 2013 - Buchan social media presentation
- 1. BEYOND LIKES AND STATUS UPDATES
- 2. Today’s Panel Alan Oakley, News Corp Australia Jeannene O’Day, Daily Gloss Rebecca Wilson, Buchan Consulting Tweet us a question @rebecca_buchan #AusBio13
- 3. Why is it important? 2.4 billion connected to the internet YouTube is more popular than cable television in the US 1.15 billion Facebook users 61% 231.7 million active users on Twitter worldwide 95% log in every day 5,700 tweets per second of decision makers use Twitter a business and marketing tool
- 4. Who is on Social Media? The biggest risk is not taking any risk…In a world that’s changing really quickly, the only strategy that’s guaranteed to fail is not taking risks” – Mark Zuckerberg
- 5. Even Scientists use social media! Almost 1 million followers 8 Million Facebook Likes 198,795 followers
- 6. Social media and clinical trials
- 7. Pitched to media Content Shared on social media Emailed to key contacts Retweeted / Shared Forwarded to contacts Asked to guest blog Asked to speak at event Recommended by contact Lead generation, investor deicisions The content journey
- 8. The world is mobile & social Benedict XVI Francis I
- 11. Regulation • • • • Guidance note 8 • HCPs only • Must comply with Code Disclose on ASX first • Adverse events apply Monitor relevant sites Secondary channel for news • Social media guidance by 2014 • ‘Warning letters’ only, to date
- 13. Why use social media Understand risks and opportunities Watch your competitors Follow smart people and learn from them Listen in on your investors/ customers/clients Build networks, relationships & visibility Know what everyone else is talking about
- 15. Risk management Personal: Use privacy settings Log out of shared devices Set up push notifications to stay on top Think before you post Corporate: Have a social media policy and communicate it Train staff who need it Put in place monitoring Always have a crisis comms plan – and include social media
Notas do Editor
- ASX Guidance Note 8:Disclose information through the ASX firstDissemination by other means does not abrogate this requirementMonitor relevant major social networking sites (especially around price sensitive announcements)Best practices:If information released by employees or others through social media, disclose information to ASX and trading holt (potentially)Use social media as secondary channel for dissemination (due to text limitations, consider linking to announcement)Risks of unauthorised disclosures remain (eg Whitehaven Coal - activist impersonated financier David Jones takeover)Promotion of therapeutic productsUnder TGA Code if a pharma company wants to use social media to promote prescription medicines to healthcare professionals, the site must be accessible by only healthcare professionals.Information provided must comply with the Code and the TGA-approved product information Information must not be misleading, must not encourage inappropriate or excessive use and must not be likely to lead to consumers self-diagnosing or inappropriately treating serious diseaseAdverse event reporting for marketed productsTGA’s Pharmacovigilance Guideline – must record and deal with all adverse events (including potentially those raised in social media)Congress passed the Food and Drug Administration Safety and Innovation Act (FDASIA) which contains a provision mandating that FDA issue final social media guidance no later than July 2014.To date FDA has issued Warning letters on social media, but has not taken any further steps other than several meetings. Source: http://www.policymed.com/2013/09/fda-and-social-media-dos-and-donts-based-on-warning-letters-waiting-for-july-2014-guidance.html
- Neuren was forced into a trading halt after commentary was posted on social media regarding its Rett Syndrome trial. The parents of a subject participating in the trial suggested that certain of the symptoms had improved during the trial. The trial is blinded and has not been compromised, with results due 2HCY14.
- There’s no need to be a social media guru from Day 1. Start out by listening, then become more engaged.