Social Media: Diving in Without Sinking - Life Science Alley - Nov 2012
Is Social Media Right for Your Life Science Start-Up? Diving in Without Sinking Small Business Leaders’ Forum Life Science Alley November 2012
• Facebook has 1 billion users• Twitter has 500 million users• 52% of Facebook users and 33% of Twitter users engage with the platform daily• LinkedIn is growing by two new accounts every second. There are 900,000 interest groups on LinkedIn• YouTube is the world’s 2nd largest search engine
Doctors Use Social Media• 85% of oncologists and primarycare doctors use social mediaprofessionally• 61% use weekly and 25% use daily to explore new medical information• 58% find social mediabeneficial; good way to getcurrent, high-qualityinformation
Consumers Use Social Media • 66% a specific disease or medical problem • 56% a certain medical treatment or procedure • 44% doctors/health professionals • 36% hospitals or other medical facilities • 33% health insurance
Why Embrace Social Media Wave• Marketing landscape is changing• Health care cost pressures• Competition for physician time• Social media is here to stay
How Medical Device Companies are Using Social Media
Other Ways to Use Social Media Networks• Research and product development• Recruit, collect clinical research• Gather competitive intelligence• Track disease-specific and patient trends• Conduct market research
FDA’s Guidance to Unsolicited Requests for Off-Label Information. . . “providing truthful, balanced, non-misleading, and non-promotional scientific ormedical information that is responsive to thespecific request, even if responding to therequest requires a firm to provide informationon unapproved or uncleared indications orconditions of use.”
FDA Examples of Solicitation• Tweeting study results suggesting an off-label use is safe and effective.• Establishing standard response websites that in part include off-label information.• Encouraging third-party bloggers to post about off- label use.• Creating a username, e-mail address, or URL that suggests off-label use.• Requesting users to post videos about their product experience on a site such as YouTube, resulting in videos on off-label use.
Sponsored Links and Widgets• Social media has space limitations• One Click Away may not be enough• When “One Click Away” is sufficient
Even With Risks, Benefits Exist1. market your products more effectively2. be better positioned to monitor and control information about your products3. advance public health and provide benefits to patients and the medical community
Social Media Requires Commitment and Diligence• Understand how social media works• Know audience• Establish goals and objectives• Adhere to applicable regulations• Put social media policies and training in place• Make commitment for the long haul• Listen actively and be responsive• Measure results
Is Social Media Right for Your Life Science Start-Up? Diving in Without Sinking Questions?