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Hesitant Pharma Marketers Risk Losing the Social Audience - eMarketer

Hesitant Pharma Marketers Risk Losing the Social Audience - eMarketer | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
Pharma companies have been reluctant to make a move onto social, unsure of the return on investment (ROI) offered by the channel and worried about the regulatory environment.

Social channels offer a variety of ways to reach out to health consumers

The Food and Drug Administration (FDA) has yet to follow through on its years-old pledge to issue social media guidelines for pharmaceutical marketers in the US. As a result, some pharma companies are keeping their distance from the social channel.

But the size and engagement of the social audience is beginning to tempt pharma marketers off the sidelines, according to a new eMarketer report, “Social Media and Healthcare: Challenges for Pharmaceutical Marketers.”

Data suggests that many online health seekers are indeed including social media in their search for health information. Estimates from Kantar Media and Manhattan Research are at the higher end of the spectrum, with both finding that roughly 45% of US adult consumers used social media for health-related purposes in 2012.


Via Dinesh Chindarkar
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Sven Awege's curator insight, April 17, 2013 3:38 AM

eMarketer has a nice way of pulling together data from disparate sources of information (aka other paying reports). Some good tables in this article that should trigger our pharma marketers to think about social media more seriously if they want to build the social capital.

We need to think carefully about key performance indicators (KPI) in the Pharma industry across all digital (and non-digital for that matter) and social media channels, knowing what we want to measure, how we can measure, and why we can measure, getting over the simple "eInteractions" and into real impact measures and satisfaction measures.

But before we get to that level we need to be in the arena!

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Strategy: Why Big Pharmas Do What They Do -- And How Silicon Valley Might Help Them Think Differently - Forbes

Strategy: Why Big Pharmas Do What They Do -- And How Silicon Valley Might Help Them Think Differently - Forbes | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it

Medical product companies that figure out how to embrace and most effectively apply emerging analytic and digital health technologies, and think creatively about new risk-sharing business models, will be best positioned to deliver.

Pharma’s Underlying Challenge

The fundamental problem the industry is wrestling with is this: car companies know how to make a car, soft drink companies know how to make soda, yet drug companies really have no reliable way of knowing where their next products are going to come from, and in a sense, have to start from scratch each time – at least if they want to make radically new, “first-in-class” products that offer unprecedented, dramatically better benefits to patients.

The problem is, these products are incredibly difficult to come by.  Disease remains very complicated, and it’s exceptionally hard to devise a new molecule that durably interferes with a pathological process yet leaves the rest of the body alone; the technical risk, as it’s called, is ridiculously high.

Not surprisingly, strategies that involve tweaking existing products, or reformulating them in a new way (e.g. liquid Ritalin, as Bruce Booth has discussed), remain popular because they at least reduce the technical risk, and may offer an incrementally – and often meaningfully — better option for patients (see here).  However, an increasingly difficult payor environment is likely to make this approach ever more challenging, materially elevating the commercial risk.  Proving an incrementally better product enhances value can be expensive (because it takes many patients to demonstrate a small difference in an active comparator trial), and of course, risky as well.


Via Dinesh Chindarkar, Sven Awege
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Pharma gets social: world’s top pharma on Facebook | pharmaphorum

Pharma gets social: world’s top pharma on Facebook | pharmaphorum | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
This article is about the top global pharma company’s use of the social media channel Facebook.
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Content Marketing: A Game of Skill #Infographic

Content Marketing: A Game of Skill #Infographic | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
After youve written a major piece of content, do you know how to market it effectively? Its vital that you do.
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How Facebook's Graph Search Will Dethrone Google Search | DigitalNext: A Blog on Emerging Media and Technology - Advertising Age

How Facebook's Graph Search Will Dethrone Google Search | DigitalNext: A Blog on Emerging Media and Technology - Advertising Age | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
facebook graph search has the potential to completely revolutionize search, and create a strong competitor to google.

Via Dan Baxter
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Dan Baxter's curator insight, February 3, 2013 4:26 PM

Interesting that FB will be eating away at one side of google's search business regarding social and location based activity whilst Amazon will be eating away at another major part, product search.

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Facebook Search looks to be a gamechanger for pharma SEO

Facebook Search looks to be a gamechanger for pharma SEO | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
Its not even in beta yet, but Facebooks Graph Search is sending tremors through the advertising landscape. For pharmas, the arrival of social search promises great opportunity and many perils.

Via Dan Baxter
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Dan Baxter's curator insight, February 13, 2013 4:40 PM

Great points about creating links to useful (non-branded) content in the local 'neighbourhood' that is FB

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In 2013, big data will drive big pharma

In 2013, big data will drive big pharma | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
Zack King, co-founder and general manager of Trinity Pharma Solutions, talks about what he sees as the big trends over the next year in healthcare and analytics.
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Pfizer launches chronic pain forum - PMLiVE

Pfizer launches chronic pain forum - PMLiVE | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it

Pfizer has launched an online forum called The Pain Exchange, which has been designed to encourage conversations between people suffering from chronic pain.

Similar to Twitter, the descriptions should be 140 characters or less and can be rated on a pain severity scale. In addition, users are asked questions, such as age, gender, medical diagnosis etc, which will be compiled to help create a user generated database of chronic pain experiences.

One of the aims of the project is to enable people to better communicate their symptoms, by learning how others describe their pain, which should subsequently help GPs to diagnose and treat the condition during consultations.


Via Dinesh Chindarkar
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Pharma Sales Jobs Take A(nother) Tumble! Digital's Slow But Relentless Impact.

Pharma Sales Jobs Take A(nother) Tumble! Digital's Slow But Relentless Impact. | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
"Also, the influence of sales representatives has shrunk, as many physicians no longer have the time to take the calls and some doctors refuse to see pharmaceutical representatives out of concern about improper promotions. Growing numbers of doctors prefer digital marketing. Lilly's U.S. sales force "will move to a smaller structure that is more directly aligned with our business realities—along with the realities our customers face, and the way they want to interact with us," a spokesman said."

 


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Sven Awege's curator insight, April 12, 2013 8:00 PM

Another great snipit from John "Pharmaguy" capturing the revealing comments that highlight the inner awakening to digital.

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As Pinterest audience rises to 15% of Internet users, are healthcare and pharma presence growing too?

As Pinterest audience rises to 15% of Internet users, are healthcare and pharma presence growing too? | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
As Pinterest user audience growth rivals Twitter, are healthcare and pharmaceutical companies increasing their presence?

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Facebook Search looks to be a gamechanger for pharma SEO

Facebook Search looks to be a gamechanger for pharma SEO | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
Its not even in beta yet, but Facebooks Graph Search is sending tremors through the advertising landscape. For pharmas, the arrival of social search promises great opportunity and many perils.

Via Dan Baxter
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Dan Baxter's curator insight, February 13, 2013 4:40 PM

Great points about creating links to useful (non-branded) content in the local 'neighbourhood' that is FB

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Pharma's digital health strategy: four options

Pharma's digital health strategy: four options | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it

David Shaywitz writes:

 

As pharma companies confront the digital health wave and contemplate their digital health strategy, I see four high-level options:

 

1. Opportunistic adjacency: Leverage healthcare knowledge and regulatory expertise to develop technology in a related but distinct area, ultimately anticipating it evolves into a discrete business unit, analogous to animal health (e.g. Lilly’s Elanco), generics (Novartis subsidiary Sandoz), nutrition, and consumer health.

 

2. Follow with interest: Determine that digital health, while promising, is still in its earliest days.  Just as some pharmas may be relieved they resisted investing in the first round of stem cell technologies, for instance, they might be similarly inclined to adopt a watchful waiting posture, and give the field some time to settle out.  Functional areas could utilize specific digital health solutions when they evolve to the point they are available from vendors, similar to the way other solutions are utilized by the industry.

 3. Elevate: Set up a dedicated “digital health” division envisioned not as a standalone business unit, but tightly integrated and explicitly intended to support the main pharma business, similar to the way many companies have dedicated “biomarker” divisions, for example.  This group could be responsible for monitoring external developments and internalizing and operationalizing the most promising technologies.

4. Planned obsolescence: My personal choice, this approach would set up a dedicated “digital health” group, as in 3, but with the stated mission of catalyzing technology adoption, and with the explicit expectation that it would wind down within a set time (say five years).  If successful, awareness of the relevant digital health opportunities and expertise in their appropriate utilization would by that point be located in the individual functional areas.

 


Via Andrew Spong, Dan Baxter
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Andrew Spong's curator insight, January 25, 2013 2:52 AM

In my opinion, 4 is the only viable alternative.

 

However, rather than effectively innoculating the business against innovation by hiving it off in the way David describes in order to reintroduce it in a nominal 'five years' (the classical 'long grass' time frame; imagine asking this question in 2008 when most of the digital health technologies we now use didn't exist), I'd favour seeding innovation across all business units simultaneously by supporting the intrapreneurs within each team who've shown aptitude.

 

Some will thrive, some will fail; however, digital health evolution will be supported across the entire enterprise in some capacity which will prove to be of greater utility than merely supporting an 'innovation showcase' at the margins of the business.

 

The former strategy attempts to side-step the major obstacle here (implementing and integrating changes that will have a real impact); the latter strategy confronts it head-on.

 

Pharma has to get better at failing faster, and learning from its experiences in order to inform its next experiments.

 

It's the science of digital health.

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NonPersonal Promotion Digital to Docs

NonPersonal Promotion Digital to Docs | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
With more sources of medical info than everboth in print and onlinemany doctors are making the decision to unplug from pharma. How to reach them in the age of digital media

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Dan Baxter's curator insight, February 13, 2013 5:03 PM

Great points about the tailoring of content for specific Drs. Got to be crucial in understanding channel prefs and content prefs.

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Drug prices jump again while other health costs decline - News from USA TODAY

Drug prices jump again while other health costs decline - News from USA TODAY | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
Drug prices jump again while other health costs decline - News from USA TODAY
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Pharmaceutical Executive Global Digest - January 2013

Digital Edition
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Why social media is good for medicine and why pharmaceutical ... | Healthcare Social Media News

Why social media is good for medicine and why pharmaceutical ... | Healthcare Social Media News | Big Data Social Media Analytics and Pharmaceutical Companies | Scoop.it
My original research on Internet healthcare forums concludes that social media forums are more than mere talking shops. They provide a valuable point of reference for both patient-consumers and companies engaging in ...
iTrend LLC's insight:

There is a wealth of information to be garnered from patients activity on social media. Information that can change lives for the better. 

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