Lately, there's been a lot of "buzz" regarding the use of "buzzwords" at commercial pharma conferences focused on marketing and sales. Critics have suggested that buzzwords erode patient and healthcare professional trust in the pharmaceutical industry.
Even industry insiders question the use of buzzwords. "We on the commercial side of the business have an unhealthy obsession with 'buzzwords'," said Timothy White, Senior Director & Head of Global Customer Interaction Management at Lundbeck.
All the negative buzz about pharma buzzwords inspired the creation of the Pharma Marketing Buzzword Bingo Card (shown here) and the Pharma Marketing News "Pharma Buzzword Survey," which asked respondents to grade a list of buzzwords commonly heard at conferences and marketing meetings within pharmaceutical companies. This article summarizes the results of that survey.
Topics (partial list):
- Massively Counter-Productive?
- A Failure to Communicate?
- Unhealthy Obsession?
- The Patient Included Charter
- Table: A Non-Definitive List of Pharma Marketing Buzzwords.
- In Defense of Buzzwords
- Pharma Buzzword Bingo
- Grading Pharma's Favorite Buzzwords
- Survey Results
- Buzzword Blame Game
Download the full article (PDF file) here:
Pfizer is betting big on the Internet of Things, or IoT, in medicine – that is, the connectivity of physical objects like medical devices to collect and exchange data – to boost Parkinson’s R&D and ultimately, to better inform care for patients.
To make this nebulous idea a reality, the pharmaceutical company is partnering with computer titan IBM to develop a system of sensors, mobile devices and machines that could deliver real-time, around-the-clock disease symptom monitoring of Parkinson’s patients to clinicians and researchers.
Connaissez-vous le darwinisme digital ? Il s'agit d'une idéologie reprenant certaines idées de l'adaptation des espèces, à l'ère numérique. L'objectif n'est pas de reprendre mot pour mot les préceptes de Charles Darwin, mais bien de prendre en considération des concepts clés.
Social listening has become a common tool for many pharma marketers. But it's not enough, says a new white paper co-authored by IMS Health and UCB Pharma.UCB's Greg Cohen
Pharma typically uses social listening only for one-off projects to answer a specific question. But that kind of tactical thinking isn't broad enough to tap the bigger benefits of social listening, said Greg Cohen, associate director in global strategic marketing at UCB.
"Many of those companies think it's some sort of Big Brother-NSA kind of thing, listening in to all your conversations," he said in an interview. "But it's no different than a lot of other market research applications, except that it's so much more--it's a way for marketers to find out what patients are really saying and how they're saying it."
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He and paper co-author Siva Nadarajah, IMS Health's general manager of social media, maintain that pharma companies that aren't using social listening strategically are squandering competitive advantages and the opportunity to do better-targeted--and therefore more efficient and effective--marketing.
Their white paper cites a Best Practices study that found while 85% of healthcare and pharma companies surveyed are engaged in some type of social listening, only one-third use it as a source of competitive intelligence.IMS Health's Siva Nadarajah
And for pharma still using the regulatory "excuse" of having to report adverse events they run across on social media, both authors agree the problem is highly overestimated. In a case of the fear being much larger than the reality, Nadarajah said, 2% or fewer of social media posts are accountable to adverse effects reporting.
They advise pharma companies to do continuous monitoring of social media, which not only results in current patient insights, but when advanced analytics are applied, can help predict future patient behavior.
The value of social listening is a theme IMS Health has been beating regularly over the past few years, but Nadarajah and Cohen said the paper was written now to continue pushing the message to pharma to act more strategically. IMS Health offers cloud-based social monitoring through its Nexxus Social platform.
"Rather than dismissing this dialogue as empty chatter or worrying about the implications of hearing something that might be more trouble than it is worth, industry needs to adopt practices from more consumer-oriented sectors and embrace social media intelligence on a continuous-listening basis," the authors wrote in the paper.