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A brief overview of social media, impact on the life sciences industry, business opportunities and threats for Scottish life science companies, key issues in the development and implementation of an effective social media strategy
the question is no longer ‘should we become involved’; but rather how can we best leverage the full potential of social media for our organisation
Life Sciences 2.0 Web 2.0 Applications Open source Online Applications/ Web Services Social Network Sites Social Content – Social Bookmarking Blogs or Weblogs Wikis Podcasts/ Vodcasts Virtual Realities Mash Ups RSS Feeds Mobile Web; Internet Telephony Twitter Characteristics Communities and Networks Openness Sharing Peering Hosted Services – online applications; the Internet as the platform Interactivity Social Element Mass Collaboration Empowerment Global Business Impact Mindset Business Intelligence Customer Insight and Understanding Customer Interaction Enhanced Customer Experience – Rich Internet Applications Reputation Management Sales and Marketing Product Development and R&D e.g. engage and co-create IT/Software/Applications Operations, Internal Processes and HRM
A key feature is online democracy – with content being provided by the network for the network – represents a fundamental and revolutionary change in online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet
Conversations are taking place relevant to your business
Social media empowers customers, empowers the network. Recognizing this shift is the cornerstone of future success
Blogs, social/professional network sites etc have become a prime source of health care/life science information
Declining effectiveness of traditional approaches
Does anyone listen to pharma/life science sales/brand messages anymore?
Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare ( www.slideshare.com )
Will ensure that the social media actions and initiatives you take are fully aligned with and supportive of your overall business goals and objectives; that KPIs are agreed for monitoring and evaluating social media performance, business impact and ROI; and all key success factors are considered, especially the organization, people and resource aspects critical to successful strategy implementation
A Scorecard approach can also be very useful for internal and external communications – a simple framework to present social media goals, objectives, key actions and initiatives to colleagues, partners and other stakeholders