White paper form Dell (August 2013)
Discover why and how the pharmaceutical industry should use social analytics
Why pharmaceutical companies should care about social media
Early adopters in the pharmaceutical sector will continually fine-tune their social media strategy to align with evolving regulations.
Pharmaceutical companies have started to listen to social media conversations as they recognize that this is pivotal to understand consumer behavior, medication adherence and general purchase decisions.
The quickest way to get plugged into social media is by sharing content from websites and drug/brand- specific portals to encourage participation.
1. A Social Pill for Pharma
August 2013
Abstract
Social media is changing business paradigms by providing
companies with a previously untapped method of research —
gathering unfiltered information directly from customers to
better understand what they think about their products and
their organization. The pharmaceutical industry stands to
benefit greatly from this new shift if it is embraced. However,
despite recognizing this opportunity, many pharmaceutical
companies have been slow to fully engage in social media
for various reasons — most notably, unclear guidelines from
the U.S. Food and Drug Administration (FDA).
Dell has experienced the value of building strong customer
and stakeholder relationships using social media for several
years and has a solid track record of helping pharmaceutical
pioneers create their own social media presence. By making
content easier to share and engaging caregivers and their
patients online through innovative approaches, Dell has helped
these companies build a strong presence on various social
channels where they can listen to conversations and gain
valuable insights. This whitepaper highlights the tremendous
opportunities available to the pharmaceutical industry through
social engagement with empowered consumers.
3. Discover why and how the pharmaceutical industry
should use social analytics
“ ocial media creates
S
altogether new
opportunities for
organizations to
respond to their
customers’ needs,
engage with them,
and build stronger
brands. The time
is NOW to create
effective strategies to
create marketplace
differentiation by
developing lasting
relationship with the
new age consumers.”
Liking, following, linking and tagging
A growing number of healthcare professionals and consumers are exploring social
channels like Facebook, YouTube, Twitter, LinkedIn and blogs. They’re looking to find
jobs, network with peers and connect with patients. Many are also looking to access
education and share research.
How social media is changing our world
1B
53%
Every second
Users on Facebook
of people on
Twitter recommend
products in their tweets
two new members
join LinkedIn
30 secs before they felt it,
New Yorkers got Tweets about an
east coast earthquake
2.25M pages would be
the length if Wikipedia was made
into a book
Over 50% of
the world’s population
is under 30 years old
The 2nd Largest
93% of marketers
use social media for
business
97%
of Pinterest fans are women
search engine in the world
20% of daily Google searches
have never been searched before
72 hours of video are
uploaded every minute of the day
97% of
consumers trust peer
recommendations
Source: Erik Qualman, Social Media Revolutions - 2013 Video - http://www.youtube.com/watch?v=QUCfFcchw1w
At the same time, the impact of social media on consumer choices and business
reputations — even for a traditionally non-retail segment like the pharmaceutical
industry — continues to increase and cannot be overstated.
72% of internet users say they looked online for health information within the past year.
- Pew Internet: Health by Susannah Fox, Jul 1, 2013
Gathering information
• Choosing a doctor
• Choosing hospitals, labs or medical facilities
• Comparing and selecting medical plans
• Finding alternative therapies and medicines
• Researching diagnoses and treatments for
themselves, children or family members
Addressing concerns
Improving wellness
• Finding specialists for second opinions
• Understanding the effects of certain drugs
• Dealing with stress common in those with
chronic illness
Ashutosh Vaidya,
Vice President, Global Head Applications and BPO
Making choices
• Participating in forums with likeminded individuals
• Learning more about diets and exercise routines
• Joining local support communities or groups
What is it “like” in the social world for healthcare?
Over one third of U.S. consumers manage their own health and are using social media
to help them make important healthcare decisions. Social media platforms provide
a new avenue for information and dialogue. In addition, the virtual environment
enhances communications by creating a comfortable way to exchange information.
3
4. Consumers compare providers
or get second opinions. They also
engage in prevention and selfmanagement activities, such as
scheduling flu shots and office visits,
and researching foods and supplements
with potential health benefits.
Social media also helps consumers
locate support groups or join forums
for those with similar existing medical
conditions, as well as find activities and
resources for prevention. They use it
to help improve their overall health
and wellness, and gather information
about diagnoses or medications — for
themselves, their children and other
family members.
Consumers have become much more
savvy at purchasing healthcare services
and products because of social media.
Since information is readily available,
they are inclined to demand the latest
drugs and medical innovations. They
also use social apps to broadcast their
opinions on physicians, drugs, devices
and treatments to the public. Through
likes, follows, links or tags, social media
is changing the nature of health-related
interactions. With so many channels for
online conversations, it’s important that
pharmaceutical companies not only
understand what motivates consumer
behavior, but also how to respond
appropriately using social tools.
Adapting to change
For the next few years, most
pharmaceutical and life sciences
companies are expected to face
financial pressures due to expiring
patents (Figure 2) and competition
from generic drugs. A number of
other factors are expected to impact
their rules of operation, including:
• Changing consumer expectations
and awareness
4
•
•
Heightened government regulatory
and monitoring activities due to
new compliance regulations and
patient protection laws
Increasing trend of alliances,
acquisitions and innovation
Furthermore, the market for
pharmaceutical products and services
is shifting to emerging economies
where healthcare systems are still
evolving. Brazil, Russia, India and
China are transforming into both
manufacturing and consumption hubs
for the pharmaceutical industry. These
countries have large young populations
that are quick to adapt to new ways
of doing business. Social media
adoption in these countries is high
and increasing exponentially.
Pharmaceutical companies need to
respond dynamically to the shifting
landscape and the increasing influence
of social media by implementing new
business models and looking at new
markets. To position themselves for
long-term success, next-generation
business models must:
•
•
•
Address slowing sales growth and
declining profitability
Deal with cross-border data transfer
regulations and other privacy laws
Engage in meaningful dialogue with
consumers and stakeholders
Why pharmaceutical companies
should care about social media
With consumer and stakeholder
adoption of social media growing,
it is imperative that pharmaceutical
and life sciences companies get a clear
picture of the changing ecosystem
and understand the patterns that affect
product sales and brand. Social media
opens up new opportunities to connect
with consumers, communicate the value
proposition throughout the product
lifecycle and improve healthcare delivery
and outcomes. It sets the foundation
to mine information and apply
behavioral principles to understand
how and why consumers are changing
the way they make health choices
and buying decisions.
Like their counterparts in other
healthcare sectors, it’s also important
that pharmaceutical and life sciences
companies find new ways to integrate
social data into their business and
connect social media efforts to a
sustainable return on investment (ROI).
Listening to social conversations can
provide insights about the competitive
landscape, pricing and consumer
satisfaction. Social media, if used
effectively, can also provide low-cost
brand building and demand generation
options. Of course, this should be done
with a strong understanding of the
regulatory environment.
While some global pharmaceutical
giants have embraced this platform
and started to listen to social media
conversations, only a few have derived
business value from them. Some are
capturing sentiment and standard
volume metrics on various sites, not
realizing that they need to go beyond
capturing “likes” and “followers” and
collect qualitative engagement metrics.
And a good many still remain cautious
about their engagement in social media.
5. Early adopters in the pharmaceutical sector will continually
fine-tune their social media strategy to align with
evolving regulations.
Pharmaceutical
companies have started
to listen to social media
conversations as they
recognize that this is
pivotal to understand
consumer behavior,
medication adherence
and general purchase
decisions.
Dr. Andrew Litt,
Executive strategist, Global Sales and
Growth, Dell Services
Early adopters in the
pharmaceutical sector
will continually finetune their social media
strategy to align with
evolving regulations.
Understanding the FDA’s role
One of the major issues facing
pharmaceutical companies has been
the FDA’s views on social media. Current
FDA regulations and guidelines —
especially on the reporting of adverse
events and industry standards for
pharmaceutical marketing — fail to
adequately address the realities of
social engagements online or provide
consistent enforcement of existing
rules online. As a result, several experts
have different opinions on the “do’s”
and “don’ts” of social engagements,
leaving many pharmaceutical companies
hesitant to fully participate. The FDA
is now promising new guidelines by
July 2014.
Adverse drug experiences can be
difficult matters to handle because if
they are brought to the attention of a
pharmaceutical company, the company
is required to conduct an investigation
and file a report with the FDA. This
could result in potential liabilities. Many
pharmaceutical companies justifiably fear
that being involved in social conversations
will increase the number of adverse drug
experience reports and force them to
conduct countless investigations
which could reduce funding
for research. Concerns over
liability exposures due to
adverse experience reporting
will continue to exist. Much
of it will depend on the
additional clarifications
anticipated from the FDA
as they issue new guidelines
around enforcement and
pharmaceutical companies’
obligations to report adverse drug
experiences identified through
social channels. In the meantime,
pharmaceutical companies will
likely adopt one of the two
following approaches:
a) Watch but remain on standby until
they receive guidance from the FDA
b) Become a perceived leader in the
space by successfully engaging with
patients online
The challenges of getting results
While a few pharmaceutical giants have
begun taking steps to explore social
media and its potential, they still have
difficulties getting valuable insight from
their social media activities. This is
What other concerns stop the pharma sector from adopting a social platform?
Should I have a dedicated
social media team?
Skilled
resources
Customer
feedback
Which social media channels
would be most relevant for
my business?
How do I build a
training program?
The areas of
challenge
I can’t determine the ROI.
5
Who are my influencers?
What do customers say
about us?
How do I manage the inflow
of information?
I don’t know how to scale
a social media solution.
I don’t know where to start.
What tools do I use?
Too much
information
Tools and
processes
Are there any standard
processes that I can follow?
6. most likely due to the limited number
of relevant conversations on specific
topics. Companies either do not know
where to find these conversations,
or when they do find them, they are
unable to sift through the noise to find
pertinent information. This is often
caused by intentional spamming from
online drug stores or from search engine
optimization (SEO) activities.
Dell solutions for pharmaceutical
companies supported by big data
to engage consumers
Through social likes, follows,
links and tags, consumers have
challenged the current business
landscape for the pharmaceutical
and life sciences industries.
Companies must now navigate new
and unfamiliar terrain by opening up
to the dynamics of engagement with
empowered consumers.
However, even as companies await
further clarity from the FDA, they can
still get plugged into the social world
by sharing the content of their websites
and drug-/brand-specific portals. Dell
provides a complete suite of consulting,
listening and reporting services for
enhancing consumer experience
through social media, including:
• Advisory Services: Receive a
rigorous assessment of your current
social media activities, along with
recommendations to improve your
current efforts, build a future state
roadmap and obtain insights from
integrated social media activities for
your business. Working closely with
senior leaders of your organization,
we conduct hands-on strategy
planning sessions to develop
a disciplined framework and
approach for planning social media
investments and establish goals
focused on ROI. Now is the time
to establish and strengthen your
social strategies and create mature
processes.
6
•
Listening and Insights Services
(LIS): Monitor conversations about
your brand, products, industry or
interests to gain business/market
intelligence and better understand
consumer wants and needs. Dell’s
expertise across a multitude of
platforms helps select the right tools
to build customized profiles that
provide an accurate view of social
data. We also provide analytics
reports and actionable insights
to help you make more informed
business decisions. Whether your
organization is brand new to social
media monitoring, or is having
difficulty cutting through the
conversation noise, our two
LIS services will get you on the
right track:
−− Forward Listening: Real-time
conversations are actively
monitored and captured to
provide a pulse on consumers
and competitors with your
defined objectives. During
these sessions, we pay careful
and thoughtful attention to your
company’s values – as well
as your policy requirements
– to assist you in identifying
and capturing important
conversations.
The quickest way
to get plugged into
social media is by
sharing content
from websites
and drug/brandspecific portals
to encourage
participation.
−− The founding principles of
listening and monitoring are
to ensure accuracy of
information pertaining to:
A specific drug
Competitors’ drugs
A broad disease level
Specific chemical properties
Key industry influencers
•
Backwards Listening: While many
service providers offer monitoring
of current conversations only, you
can also benefit from reviewing
historical conversations — dating
back one year — to baseline the
social media activity on your drugs
and brand. This can be particularly
helpful during research and
development for the launch of a
new drug or when a drug is on
trial. You can review conversations
pertaining to similar drugs and/or
competitors’ portfolios and develop
launch plans accordingly. This type
of LIS can be utilized as a one-time,
per-drug engagement with relevant
competitors, and can help you
understand the social footprint used
to measure future actions.
•
With a year’s worth of data
analytics, your organization can
get an aggregated view on pricing,
consumer experience, demographic
segmentation and sentiment
of messages compared to your
competitors. Our customers have
obtained valuable insights to make
the right investments in brand
websites, social enablement of
these websites, pricing of a drug,
positioning of the brand for the
right audience and demographic
dissection of the posts. We have
also helped identify the proponents/
key influencers for their drugs.
7. •
Listening Command Center Build-Outs: Get the expertise you need to create
your own listening command center. The offer includes consultation on
design and space considerations, implementation of key processes to run the
center and recommendations for effective operations. Transform foundational
listening processes into an engagement forum by training and empowering your
employees to respond quickly while protecting your brand. Command Center
can be used by your regulatory team to help support your compliance.
•
Best Practice Seminars: During these interactive sessions — which can be
customized for the pharmaceutical and life sciences industries — we share social
media best practices and provide exercises for application within your corporate
culture. Topics include:
−− Gaining executive advocacy
−− Understanding the roles of social media listening and use of its data
−− Building communities
−− Developing a social media training roadmap or social media training course
Even though social media formats and platforms are likely to evolve over time,
online engagement is here to stay. Dell’s social media services can help you remain
accessible to your consumers and empower you to improve brand awareness,
business results and loyalty.
Listening and insights services from Dell
Daily, weekly or monthly reports
Actionable insights
Dell can help you:
• Monitor conversations relevant
to your brands, industry and
competition
• Determine sentiment around
each conversation posted within
social media
• Monitor product/service launches
and provide detailed reports on
these campaigns
• Provide business/market
intelligence reports
• Improve current social media
outreach by identifying key
influencers and channels to
broadcast your products
and services
• Improve customer support to
increase customer satisfaction
levels and improve brand loyalty
7
Amplify your message
Insights from social conversations
lead to actionable decisions.
Identify key influencers and
channels with whom to engage.
Understand customer
Use direct, unbiased feedback to
improve products and services.
Market intelligence
Leverage
intellectual
capital and
capabilities
Gauge sentiment
Identify actions to improve
customer perceptions and
your Net Promoter Score.
Protect your brand
Enable viral warning, risk
mitigation and crisis management
for the social sphere.
Keep a pulse on brand versus
competitor conversations.
Built on years of experience and deep understanding of the prevailing business
environment, Dell social and life sciences subject matter experts can help you develop
real-time consumer insights, engage audiences and better understand your market.
Reasons others look to Dell for social media help
Dell was
recognized
for Best use of
LinkedIn by BtoB
magazine's 2013
social media
marketing awards.
In late 2012, Dell was
awarded an ITSMA
Marketing Excellence
Award for Generating
Nurturing Leads and
Marketing with Social
and Interactive Media.
Dell received a 2013
Silver Award from
The Learning Awards
for Social Media for
Learning- Program of
the Year.
In 2013, Dell was
awarded a Computerworld
Honors Laureate
(World-Good)
for work done with
the Red Cross.