Can Pharma Make a Business Case for Social Media
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Can Pharma Make a Business Case for Social Media

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Presentation by Shwen Gwee (Med20.com) at the 2008 Digital Pharma conference in Princeton, NJ.

Presentation by Shwen Gwee (Med20.com) at the 2008 Digital Pharma conference in Princeton, NJ.

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Can Pharma Make a Business Case for Social Media Can Pharma Make a Business Case for Social Media Presentation Transcript

  • Can Pharma Make a Business Case for Social Media? Shwen Gwee Founder & Host Med 2.0 Blog and Podcast
  • Disclaimer
    • The opinions and ideas expressed in this presentation are strictly my own and are not screened by my employer.
    • Everything mentioned or presented is strictly my personal opinion and does not necessarily represent the views of Vertex Pharmaceuticals.
    !
  • Overview
    • What is Social Media?
    • What are the main hurdles?
    • Why is it important?
    • Where does it fit in?
    • How do I get started?
    • What strategies can we use?
    • How about regulatory concerns?
    • What about ROI?
    • Final Thoughts
  • #1 What is Social Media?
  • Working Definition
    • Web 2.0
    • = New/Social Media
    • = Groundswell
  • Shift Happens
    • A cultural shift…
    FROM TO PUSH Broadcasts PULL Content Monologue Conversation Individual Consumption Group Participation Sales & Marketing Pitch Authenticity/Transparency Attracting Publicity Pursuing Interaction
  • Shift Happens
    • Authentic Interaction
    Genuine Engagement Trust Influence
  • Models of Influence are Changing Image by armanz on Flickr: http://www.flickr.com/photos/7855449@N02/2828883082/in/set-72157606844282993/
  • #2 What are the Main Hurdles?
  • Hurdles: Overview
    • IT
      • Marketing
      • Executives
      • Legal/Regulatory
      • Federal regulations (FDA, DDMAC, etc.)
    Corporate/ Enterprise Pharma
  • Hurdles: IT
    • Questions/Statements:
      • Social Media? You mean, like MySpace!?!
      • But we have no control over the servers or software – how can this work?
      • It does not comply with enterprise standards!
    • Issues:
      • Traditional, enterprise thinking
      • No experience with new/social media
      • No ownership or “power” to drive business
      • Used to implementing, not strategizing
  • Hurdles: Marketing
    • Questions/Statements:
      • Where does it fit in?
      • No way regulatory will allow it!
      • Who owns it anyway? Can’t IT just do it?
      • Where do we start?
    • Issues:
      • Lack of exposure/experience with social media
      • Traditional marketing mentality
      • Over reliance on traditional agencies
      • Don’t know where to start or how to justify
  • Hurdles: Executives
    • Questions/Statements:
      • What is this social media thing anyway?
      • Where’s the ROI?
      • What about negative comments/feedback?
      • Company XYZ has a blog – we need one too!
    • Issues:
      • Lack of exposure/experience with social media
      • Unclear who should own this process
      • ROI, ROI, ROI ???
      • Follow the (pharma) leader
  • Hurdles: Legal & Regulatory
    • Questions/Statements:
      • What about fair balance?
      • What about AE reporting?
      • What if you get off label discussions!?!
    • Issues:
      • Lack of exposure/experience with social media
      • No defined federal/industry regulations
      • Associate social media with lack of control (e.g. My Space, random blogs, etc.)
  • Image by karynsig on Flickr: http://www.flickr.com/photos/karynsig/752728221/ Image by wetwebwork on Flickr : http://www.flickr.com/photos/wetwebwork/2606928063/
  • #3 Why is it Important?
  • More Customers Consume Media Online Source: Manhattan Research Cyber Citizen Health v7
  • Consumers Shifting Online for Health Information
  • Consumers More Satisfied with Health Information from the Internet Source: Manhattan Research Cyber Citizen Health v7
  • Online Video Experiencing Significant Growth Source: Manhattan Research Cyber Citizen Health v7 In Millions
  • More Physicians Moving Online for Professional Resources
  • But Most Importantly…
  • #4 Where does it fit in? (And who should be in charge?)
  • Basic Objectives of Social Media Listen Engage/Embrace Energize Support OBJECTIVES Market Research Marketing/PR Sales/Marketing Customer Service ROLES
  • Other Possible Goals…
    • Internal
      • “ Knowledge management”
      • Rapid sharing & dissemination
      • Executive & senior leadership visibility
      • Sales training & development
      • Market & customer feedback
      • Internal alignment & collaboration
      • Recruiting and HR
      • Corporate “kumbaya”
    • External
      • Awareness raising
      • Branding & messaging “testing”
  • Social Media Strategy Throughout Lifecycle Source: http://www.web-strategist.com/blog/2007/09/12/web-strategy-advanced-applying-a-social-computing-strategy-to-the-entire-product-lifecycle/
  • Who Should Be In Charge?
    • Put someone important in charge
      • Director and above (higher is better)
      • Preferably with experience or interest
      • Understands legal and regulatory framework
    • Should be housed within group that can influence and align strategy
    • Should be a significant or entire part of the person’s objectives (not a BTW experiment)
    • Should have access to appropriate resources, including executives and agencies
  • #5 How do I get started?
  • Think Outside the Bun
    • Don’t just look within the industry
      • Learn from those who are innovating and pushing the limits with new/social media
    • Bring the outside in and adapt to our regs
    • Don’t forget: Some of these people could even be your customers
  • Listen and Learn
    • Subscribe to blogs and read daily
      • Within Pharma/Healthcare:
        • EyeOnFDA, PharmaMarketingBlog, THCB, HealthCareVox, Pharmalot, IgniteBlog, JNJBTW, etc.
      • Outside Pharma/Healthcare:
        • ChrisBrogan, Web-Strategist, Altimeter Group, Logic+Emotion, TechCrunch, etc.
    • Subscribe to podcasts and listen
    • Use (free) tools to monitor trends
      • Google Trends, Technorati, TechMeme, etc.
    • Read industry whitepapers and research studies, participate in webinars, etc.
  • Join the Conversation
    • Rate and review content/products
    • Comment on blogs, podcasts, videos, etc.
    • Be part of a social network
      • e.g. LinkedIn, Facebook, Plaxo, Twitter*, etc.
    • Attend meetings and conferences
      • Grassroots
        • PodCamp, Social Media Club, Meetups, etc.
      • New/Social Media Industry
        • Web 2.0, New Media Expo, BlogWorld, SXSW, etc.
  • Experiment and Participate
  • Educate, Educate, Educate…
    • Learn and be a social media evangelist
    • Create programs to educate everyone
      • e.g. lunchtime lectures, informal BOF meetups
    • Make sure execs hear about it and attend
    • Start internally
      • Get proof of concept
      • Get legal, regulatory, execs, etc. involved
        • Form working group or Social Media Committee
    • Energize and enthuse!!!
  • Case Study: Energize & Enthuse
    • Microsoft Academy Mobile…
  • Case Study: Academy Mobile – Results
    • Exceeded Targets (2008)…
    • Success led to development of public release, called Podcasting Kit for Sharepoint (PKS)
      • Sits on Sharepoint server platform
      • Download for FREE at: www.codeplex.com/pks
    3,107 3,000 # of Profiles on Academy Mobile 1,034 1,000 Total # of Unique Podcast Publishers 2,344 1,800 Total # of Podcasts on Academy Mobile 10,203 8,000 Total # of Unique Individuals Downloading Podcasts 95,900 60, 000 Total # of Podcast Downloads YTD # Target # Reach & Awareness
  • #6 What Strategies Should We Use?
  • Organic vs. Paid Search
  • Groundswell: Li and Bernoff
  • 4 Step Process for Getting Started P O S T People Assess your customers’ social activities Objectives Decide what you want to accomplish Strategy Plan for how relationships with customers will change Technology Decide which social technologies to use
  • Ladder of Participation Creators Critics Collectors Joiners Spectators Inactives Publish a blog/Podcast Publish your own Web pages Upload video you created Upload audio/music you created Write articles or stories and post them Post ratings/reviews of products/services Comment on someone else’s blog Contribute to online forums Contribute to/edit articles in a wiki Use RSS feeds Add “tags” to Web pages or photos “ Vote” for Web sites online Maintain profile on a social networking site Visit social networking sites Read blogs Watch video from other users Listen to podcasts Read online forums Read customer ratings/reviews None of the above
  • Social Technographics Profile
    • http://www.forrester.com/Groundswell/profile_tool.html
  • Other Sources of Customer Data
    • Research data
      • Market research data and segmentation studies
      • eHealth and ePharma research
        • Manhattan Research (consumer and HCP)
      • Social Media Research
        • Forrester, Pew/Internet American Life Project, Universal Mccann (Wave 3), eMarketer, etc.
  • Determine Your Objectives Help customers work with each other to come up with ideas to improve products/services Embrace Support customers and enable them to support each other Support Make it possible for customers to help you and each other Energize Participate in 2-way conversations Engage Monitor your customers’ conversations Listen Description Objective
  • Determine Strategy & Technology
    • Listening (Market Research)
      • Social Measurement/Monitoring Agencies
        • TNS Cymfony, BuzzMetrics, Radian6, etc.
    • Engaging (Talking)
      • Blogs, Podcasts, Online Viedo, etc.
        • JNJBTW blog
        • “ National Spotlight on Migraines” podcast sponsored by Ortho McNeil,
        • YouTube Videos (JNJ, GSK, Abbott, etc.),
  • Determine Strategy & Technology
    • Energizing
      • Professional Social Networks
        • Sermo, Physician Connect, Clinician 1, etc.
      • Other Social Networks
        • Facebook, CommuniSpace, Powered, etc.
      • Ratings and reviews (e.g. Digg)
    • Supporting
      • Wiki’s, Support Forums, Twitter, Yammer, etc.
        • e.g. Pfizerpedia, VIKI, etc.
        • SalesForce Effectiveness
        • Internal knowledge sharing/management
  • Determine Strategy & Technology
    • Embracing
      • Social networks
      • Idea Exchange; “Suggestion Box”, etc.
      • Ratings and reviews for brand messaging
  • Don’t Think Conventionally Image by armanz on Flickr: http://www.flickr.com/photos/7855449@N02/2936653440/in/set-72157606844282993/
  • Case Study: DigiRedo
    • Company:
      • Top 3 in veterinary pharmaceutical industry
    • Issue:
      • Lack of effective communication tools to implement new company strategy
    • Objective:
      • Use new/social media tools to see it can increase the effetiveness of the message roll-out
    • Technology:
      • Podcasting (and iPod Touch)
  • Case Study: DigiRedo – Strategy
  • Case Study: DigiRedo – Strategy
  • Case Study: DigiRedo – Results
    • Participation & Consumption:
      • 100% participation (viewers and listeners)
      • 57% consumed content on Day 1
      • Consumption device: 40% PC, 60% iPod
      • Location: 70% @ home , 17% in car, 13% elsewhere
    • Qualitative Survey: “Do you agree that the podcast…”
      • Gives more insight in the strategy? 90%
      • Gives more insight in what my colleagues do? 90%
      • Is an effective communication tool? 90%
  • Case Study: DigiRedo – Reactions
  • #7 How about regulatory concerns?
  • Define Policies and Processes
    • Educate your team and ensure they are supportive… Then educate key stakeholders
      • Try brown-bag lunches, thought-leader presentations, vendor demos, etc.
    • Treat it like you would traditional media
      • Stick with the FDA and PhRMA Guidelines
      • Don’t do anything you wouldn’t do normally (i.e. content)
    • Work with legal & regulatory to:
      • Determine an SOP for each strategy
      • Develop an escalation policy for each strategy
  • Define Policies and Processes
    • Be willing to compromise and adapt
      • e.g. Review comments before posting
    • Explicitly state “rules of engagement” so customers will understand
      • e.g. JNJ
    • If unsure, experiment internally before moving externally
  • Example 1: JNJBTW.com
  • Example 1: JNJBTW.com
    • All comments will be reviewed before posting.
    • Comments that don’t directly relate to the Company or to topics covered on this blog won’t be posted
    • Some comments may be forwarded … for follow-up as appropriate
    • We generally won’t post comments about products that are sold by the Johnson & Johnson operating companies
    • Johnson & Johnson and its operating companies work within highly regulated industries
      • Comments that pertain to ongoing legal matters or regulatory issues are unlikely to be posted
    • Further information about our policies…can be found in our Privacy and Legal Notice
  • Example 2: Adderall XR YouTube Video
  • Example 2: Content , NOT Context
    • Warning letter contents:
      • “… overstate the efficacy”
      • “… omits important information regarding the risks”
      • “… broadens the indication … suggesting uses that have not been approved”
      • “… overstatement of efficacy and omission of important safety information”
    • Not any different than if content had been in a DTC television or print ad
  • #8 What About ROI?
  • Can You Measure the Value Of… Image by Damien Roue on Flickr: http://www.flickr.com/photos/damienroue/2581992080/
  • Can You Measure the Value Of… Image by Mulad on Flickr: http://www.flickr.com/photos/mulad/143851399/
  • Can You Measure the Value Of… Image by b_d_solis on Flickr: http://www.flickr.com/photos/briansolis/2676945109/
  • Can You Measure the Value Of… Image by Duke Green on Flickr: http://flickr.com/photos/duke_geren/124379253/
  • It All Depends On Your Objectives
    • Determine what you want to measure
      • Corporate reputation?
      • Conversations among target audience?
      • Awareness in naïve group?
    • Relate objectives to traditional media…
      • How do you measure the effectiveness of your PR campaigns (press mentions) ?
  • But More Importantly… Are You Listening? Image by Orange Beard on Flickr: http://www.flickr.com/photos/metrojp/92038203/
  • Free “Listening” Tools Google Analytics AideRSS FeedBurner
  • Social Media Monitoring Services
  • Calculating ROI: GM Fastlane Blog Source: http://blogs.forrester.com/groundswell/2007/01/new_roi_of_blog.html $283,000 TOTAL COST (year one) $20,000 Review and redirection $150,000 Content production (incl. Exec time) $3,000 IT Support $50,000 Brand-monitoring service $25,000 Blogging platform Ongoing Costs (annual) $10,000 Training for blogging executive $25, 000 Planning and Development Costs Startup Costs
  • Calculating ROI: GM Fastlane Blog Source: http://blogs.forrester.com/groundswell/2007/01/new_roi_of_blog.html +$110,000 $393,000 TOTAL BENEFITS (year one) $40,000 Research Value: Customer insights - est. comments equivalent to 5 focus groups @ $8K each $69,000 Support Value: Support calls avoided - est. 50 daily calls @ $5.50 each $37,000 WOM Value: Refering posts on other blogs - est. 370 posts @ $100 each $240,000 PR Value; Press stories about/driven by blog - est. 24 stories @ $10K each $25, 000 Advertising Value (Visibility/traffic) - est. 7,500 daily page views @ $2.50 CPM Value Benefit Analysis (annual)
  • Final Thoughts
    • It’s about people!
    • Listen, learn, experiment, participate and educate, educate, educate…
    • Start small (internal), but think outside the bun
    • Put someone important in charge
    • Setup an SOP and escalation policy
    • Determine what is considered success
    • Social Media is a full time job… And more
    • Generate enthusiasm and encourage participation
  • Marc Monseau Editor, JNJBTW.com OCT 2nd, 2008 And so what we have ended up doing in many cases is take some small steps to get more comfortable with getting involved. We are also making sure we have processes in place to handle adverse event reports and that we have responsible people involved who can respond quickly to questions. At the same time, [ these projects ] are giving us some great experience.
  • Resources
    • Groundswell
      • Blog – http://blogs.forrester.com/groundswell
      • Book – http://tinyurl.com/6bab6n
    • Web Strategist – Jeremiah Owyang’s Blog
      • http://www.web-strategist.com
    • Altimeter Group – Charlene Li’s Blog
      • http://www.charleneli.com/blog
    • Chris Brogan’s Blog
      • http://www.chrisbrogan.com
  • ~ Thank You ~ Shwen Gwee Founder & Host Med 2.0 Blog and Podcast Health Informatics and New Media Lead Vertex Pharmaceuticals EMAIL: shwen@med20.com TWITTER: @shwen BLOG: www.Med20.com PODCAST: www.Med20radio.com COMMUNITY: www.SocialPharmer.com Some Rights Reserved (2008) Shwen Gwee - http://creativecommons.org/licenses/by-sa/3.0/us -