Improving marketing effectiveness with social media analytics in pharmaceutical industry

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VOZIQ’s Social Media Analysis Solution for Marketing Effectiveness and Industry Research in pharmaceutical industry. VOZIQ’s products and services provide you the tools you need to develop action …

VOZIQ’s Social Media Analysis Solution for Marketing Effectiveness and Industry Research in pharmaceutical industry. VOZIQ’s products and services provide you the tools you need to develop action plans based on voice of to your customers, competitor’s customers and industry influencers.

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  • 1. SOCIAL INSIGHTS VOZIQ’s Social Media Analysis Solution for Marketing Effectiveness and Industry Research VOZIQ’s products and services provide you the tools you need to develop action plans based on voice of to your customers, competitor’s customers and industry influencers.www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 2. SOCIAL INSIGHTSExecutive SummaryBusinesses today ignore what’s being said about them in the social media at their own peril. In these uncertain and highlycompetitive times, marketing strategies need to include input and data from every available source. Only recently have businessesdiscovered that the buzz created in the social media can be an important element of the marketing strategy equation. Newtechnologies have created analytic tools that can help a business understand what is being said in the various social media outletsabout them, their competitors and their industry. If the analytic tools can aggregate and quantify the data in a meaningful way,businesses can take advantage of up-to-now untapped marketing opportunities. But most analytic tools these days don’t go farenough. They measure “likes” and “followers” and clicks and downloads, and draw conclusions from those kinds of metrics. AtVOZIQ, we see those metrics as only a starting point. Using sophisticated analytical techniques, we track all that is being said aboutour client, about its competitors, and about its industry. Then we convert it to data that can be aggregated and analyzed, combine itwith metadata such as page ranks and Klout scores from various sources, and develop a series of reports that contain specificrecommendations for our client.Social Media Analytics: The Big Picture + The Little Details = OpportunityBusinesses ask this question all the time, “How can my business survive in this new technological age?” The answer lies inunderstanding their own and their competitors’ customers. A highly effective way of doing this is to leverage the power andpervasiveness of social media platforms, and to utilize the information available from these sources to bring the collective voice ofboth their current customers and their competitor’s customers to their business.How social media has changed the art of marketing is there for everyone to see. Today, every business understands that having asocial media presence is a must. They are not always clear about the many reasons it is required or the opportunities it can present,but they are certain they must have a presence. So businesses invest substantial funding and personnel resources into creatingwhat they hope will be a successful social media campaign. How do they typically measure whether the campaign in working?Usually by counting Facebook “likes,” Twitter “followers,” and shares. The difficulty with relying on these metrics is that they onlypresent a general picture as to how far the social media campaign’s reach goes. Businesses today tend to focus either on the bigpicture – looking only at how many people are talking about them - or on the little details – counting only the “likes” and the“followers.” But a social media marketing strategy will not be strong and effective without understanding the importance of both. Aproper social media strategy has to take everything into account, not just the scope of the people talking about them and not justthe “likes” and “followers.”The Power of the VOZIQ ApproachAt VOZIQ, we use analytics to combine “the big picture plus the little details” to make the most of the opportunities that socialconversations present. Prior to embarking on a marketing and business strategy, a business must first assess its social mediacampaign potential. This means that not only must it monitor what people are saying about the business, but it must also knowwhat’s going on in the entire industry. What people are saying about the competition is just as important as what they’re sayingabout the business itself! It boils down to three details that need to be monitored and tracked:• the buzz about the brand of a business,• the buzz about the competitors’ brands,• the buzz about your industry,• the buzz about the industry sector of which a business is a part.Everything about the buzz needs to be analyzed. Is it positive or is it negative? What topics are people discussing and what is thesentiment for each topic? The list goes on, and the scope of the information seems infinite. It may even seem to be anoverwhelming task to aggregate and quantify the data in a meaningful way. But it CAN be aggregated and quantified, and when it isput to good use, the resulting marketing benefits are enormous.Effective Listening: Social Media Monitoring and Analytical ToolsListening to potential customers in the social media outlets allows a business to understand what consumers are saying about botha business’s brand and its competitors’ brands. For example, people use blog sites to discuss their experiences and opinions aboutbusinesses they have dealt with. Scanning for specific keywords and monitoring these outlets helps businesses identify who isdiscussing their brand, their competitors’ brands, and where. Our VOZIQ monitoring and analytics can identify those bloggers whoare influential enough to sway customers to change from one brand to another. And these techniques can also identify whichconsumer issues most affect the perception of a business’s brand.Businesses have slowly come to understand that the world of social media is not just an entertaining fad. It is a new means of veryeffective and very influential communication among consumers who feel free to speak their mind about anything and everything.Social media must be taken seriously in any business’s marketing strategy. This requires sophisticated tools developed from themost precise and up-to-date technologies to provide the “right” solutions to mine the opportunities from social media that canwww.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 3. SOCIAL INSIGHTSincrease revenue for any business. And, using these tools to identify people, places, and topics on social media platforms can helpdeliver quick and effective action plans for virtually any business. The cutting edge tools developed by and available from VOZIQallow a business to incorporate people, places, and topics into the context of its brand, its competition, and its industry, and todevelop benchmarks and identify specific opportunities that can drive marketing decisions.In summary, a business can add customers and produce significant financial gains from the potential that exists in social media byusing analytical tools to target customers and increase company growth. Social media analytics help define and identify a business’starget market for strategic development, and lead to an increase in sales by focusing on the opportunities that social media outletsuncover.Why VOZIQMost social media analytic tools in use today are capable of tracking only “likes” and ”followers” or clicks and downloads. But this isonly a first step toward engaging your business’s customers and driving revenue, not the end step. At VOZIQ, as a starting point forour analysis, we track relevant discussions and use natural language processing (NLP) technology to categorize these discussionsinto the buzz about our client, the competitors buzz, and the industry buzz. We help identify what people are talking about, howthey feel about both our client and its competitors, what they’re saying about topics relevant to our client’s line of business andwhere the buzz is taking place. We establish benchmarks to identify information gaps in key topics of importance, and identify theinfluencers and the websites that can help our client take steps to close those gaps. Once all of the information is collected andprocessed, we assess what should and shouldn’t influence our client’s business strategies. Data digging is deeply rooted in ourgenes, and we collect and analyze each and every word that relates to our client and its social media environment (which we call itseco-system). The results of our analysis are delivered in the form of detailed reports and PowerPoint presentations, which includethe insights we have distilled from the data collected so that our client can begin to immediately realize the benefits of theopportunities we uncover.The VOZIQ MethodologyHaving access to such an immense amount of data from the social media about our client’s brand requires that our client know howto best use it. The VOZIQ social media analysis is more than up to the task.Here’s what we do:• We gather the unstructured data and convert it to structured data with our NLP technology, using a system of categories and their sub-categories.• We then use our tools to quantify the data and produce various visuals to display our results and conclusions in a meaningful way.• We then gather metadata metrics, such as Klout scores, page ranks, sentiment, user location, gender, mention time, etc., to dig further into the categories and subcategories to obtain meaningful data that could otherwise go undetected.• Finally, we review what we have accumulated and look at it from the perspective of our client’s competition and industry in order to create benchmarks in specific categories to identify information gaps and action items based on our client’s business objectives.• All the activities and findings are then consolidated into a report and presentation where useful conclusions are drawn and actionable recommendations are offered.• Ongoing reports can be generated monthly, weekly or even daily, based on the requirements of our client.Benefits to Our ClientThe comprehensive analytics of VOZIQ assist our client in the ongoing social media monitoring of consumer opinions andconversations about its brand. Some of the benefits our client can realize with the help of VOZIQ are:• Improved topline revenue growth from having more accurate insights into the competition, the industry and the eco-system in which the client operates• Finely tuned key client brand messages that better suit the needs of customers• Accurate positioning of new products as a result of identifying the best market fit for product positioning, features, and rates• Offering of more personalized products and services relevant to the customer in an integrated manner• Proactive engagement with consumers and eco-system players who are proactive themselves, as well as knowledgeable and influential• Inputs and ideas which can lead to product and service innovations• Assessment of core competencies, weaknesses, and loyalty drivers for a particular competitor• Analysis of what is working and what is not for the competitors in changing circumstances• Improved service to our client’s customers by analyzing issues that a competing brand is facing• Managing our client’s reputation by responding to others’ marketing campaigns that negatively target their brandwww.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 4. SOCIAL INSIGHTSAn Example of Our Client ReportsWhat follows is an example of a consolidated data report that we produce for our clients. For this analysis, we started with auniverse of several brands. We first used a mention count to learn which banks were the subject of the most buzz. Following that,we checked the sentiment shares among all the brands. Mention counts and sentiment shares are deeply related, and thisrelationship was also thoroughly analyzed, as shown in one of the report’s graphs. The areas of maximum and minimum buzz wereidentified for all the brands. Finally, we looked for influential sites and people who could help our client in amplifying its brand’sbuzz and further improve its overall brand image.www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 5. SOCIAL INSIGHTSShare of VolumeHow to use this report:This report highlights share of voice among the brands compared from the industry. This is a good startingpoint for analysis of a brand before diving into details. Please note, the mention count in itself is not a verypowerful metric. But when used along with other metrics it acts as a very powerful ingredient. Also larger thecount doesn’t mean better popularity. Instead it gives a better opportunity to understand the true stand ofthe brands in their respective industries. But yes! One has to agree that more the count always equals tomore awareness.From the above graph one can easily make out that all the large portions in the graph belong to the topbrands which augur well with the above statement that mention count acts as an indicator of the awarenessof the particular brand.www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 6. SOCIAL INSIGHTSSentiment BalanceHow to use this report:This report shows how different brands compare on their positive and negative share of the buzz usingdetailed sentiment analysis, which automatically categorizes various social media mentions into positive,negative and neutral categories. A quick glance of this report highlights if the generated buzz from the shareof voice report is generally positive or negative compared to the industry peers.To analyze a sentiment graph one must remember that many factors are involved. One of such factors is thetotal mention count and another one is the net sentiment score. The higher the net sentiment score, thebetter in general the buzz generated for that brand. You might need to drop outliers for comparative analysisas some might skew the results with unusually high/low volume or sentiment scores.www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 7. SOCIAL INSIGHTSVolume Vs. Sentiment Share Gap AnalysisHow to use this report:This report shows how much different brands lag or lead with either positive or negative buzz. Ideally brandswould want higher share of positive buzz and lower share of negative buzz. With this as the goal, this reporthelps in quickly identifying gaps in their perceived positive and negative sentiment share in the social space.www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 8. SOCIAL INSIGHTSTop Topics by BrandHow to use this report:A very interesting graph and equally revealing too! This report shows what topics are generating most buzz inthe social space for different brands. Comparing specific topics against key competitors help brands in refiningtheir positioning, and develop data-driven campaigns targeted in closing any gaps. Additional topics and subtopics can be added based on the initial analysis and the business need.www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 9. SOCIAL INSIGHTSTop Websites and MOZ RanksWebsite MOZ Rank Volume Domain Authority Sentiment BalanceHow to use this report:Reviews from people can be found everywhere in the internet. The key is to quickly get to authoritativewebsites in specific topics that are relevant for your business. Use this report to find top websites with highinfluence and traffic, and their sentiment balance. Look for those with higher buzz and higher MOZ Ranks,drop sites that may not be 100% relevant to your needs and firm up your list as you make progress. www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 10. SOCIAL INSIGHTSTop Influencers and Klout ScoresInfluencer Klout Score Volume Kred Influence Amplification Sentiment BalanceHow to use this report:VOZIQ helps you in finding opinion leaders and the extent they influence people’s views about any generaltopic or a specific niche, to improve your brand image and competitive positioning. First we scan the postsand articles by various authors, and then inspect their Klout, Kred and Peer Index scores to get to topinfluencers in any topic. Follow similar process as websites by picking the combination that works best for you. www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 11. SOCIAL INSIGHTS DETAILED REPORTS VOLUME DRIVERS AND SENTIMENT SHARE BY TOPIC FOR EACH BRANDwww.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 12. SOCIAL INSIGHTS GSK Insight ScorecardVolume Drivers & Top Positive and Negative TopicsOverall Sentiment & Sentiment Balance by CategoryPositive and Negative Notable Mentions@MJDavies90 55 Hour weeks and Stressful haha No way, no time GlaxoSmithKline in deal with MD Anderson on cancer drugs -for it at all! Hows GSK? Yahoo! News http://t.co/wWkqWF2z via @YahooNewsYoure in high demand! New jobs @ PRA IPSEN GE Boehringer $GSK- http://t.co/DXoR38FJ Launches as ComprehensiveMedImmune WarnerChilcott GSK AstraZeneca Agilent Novartis New Resource to Help Smokers Quit and Stay Smoke-Free!#pharma #biotech #device @alicejonesy just LOreal, got rejected by gsk so technically@evie_ds yeahh dont work in a lab! You could become a big only applied to two haha! Better do loads tomorrow xbusiness woman in like a bio company like Gsk or somthing! www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 13. SOCIAL INSIGHTS Pfizer Insight Scorecard Volume Drivers & Top Positive and Negative Topics Overall Sentiment & Sentiment Balance by Category Positive and Negative Notable MentionsPfizer boosts quarterly dividend to 24 cents: http://t.co/6MB93K3A $CYRX hell of a story for this penny play, deal with Pfizer(KSL) Smoking cessation drugs must be REALLY popular right now! Animal Health Unit!I simply love my @Daily eHealth Alert> Just look at todays story @Robbiesmit8 @mindbiowingfact They need to bottle thatheadlined "Pfizer CEOto testify in Champix trial! YES, were getting shit! Put Pfizer out of business.there? Pfizer Premarin mares and foalsthis drug is killing out horses!Dedicated runners braving the rain at #jinglebellrun @jbrseattle It must be stopped! Buy Buy Buy... Buy premarin Online>Stop by our booth #thehemline #Pfizer ! (client) http://t.co/ http://t.co/rDOTM4aatzMfdIEU www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 14. SOCIAL INSIGHTS Novartis Insight Scorecard Volume Drivers & Top Positive and Negative Topics Overall Sentiment & Sentiment Balance by Category Positive and Negative Notable MentionsYoure in high demand! New jobs @ PRA IPSEN GE Boehringer RT @RobSchneider: Canada, Italy, Germany, Austria, Spain,MedImmune WarnerChilcott GSK AstraZeneca Agilent Novartis Switzerland & France all banned the Flu Shot by Novartis! But#pharma #biotech #device in the U.S. you canMore congratulations - this time to Stephen Calabrese of Novartis! I just ousted @arodini as the mayor of Novartis onHe was selected at random to receive a... http://t.co/y5er6Pma @foursquare! http://t.co/XF80IIwXWoohooo! Tell all your friends! @Novartis Canada is returning as I just ousted @jdcrouch1972 as the mayor of Novartis CAA/the Cycle for Sight 2013 Presenting Sponsor! BAC Building on @foursquare! http://t.co/Hpcs5in0 www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 15. SOCIAL INSIGHTS Roche Insight ScorecardVolume Drivers & Top Positive and Negative TopicsOverall Sentiment & Sentiment Balance by CategoryPositive and Negative Notable Mentions@CatherineFaboo its like the most fabulous way to say Roche! RT @EbhoniOGarro: why are me and Roche so rude to eachSuper happy day! Nice meeting you Miguel Gallo Roche? other !!#skynews #murngahan Thank you PMQs Camera for locating Ivette why are me and Roche so rude to each other !!Think in a smart suit Roche Tamiflu http://t.co/a87aoDxV H Iorveth or Roche? Ahhhhhh Im so indecisive!!! #witcher2Influenzae Sniffy! #decisionsdecisions #gamerprobs www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 16. SOCIAL INSIGHTS Merck Insight Scorecard Volume Drivers & Top Positive and Negative Topics Overall Sentiment & Sentiment Balance by Category Positive and Negative Notable Mentions@MrStemCell yep...LX4211 highly differentiated. Merck??Carcinoid Merck, Roche and Sanofi to test drug that aims to makeresults 2013. If the POC P2 for IBS-d is successful (big if) watch out! cancer self-destruct!! http://t.co/l9vlGeZ5Friend in search of a Merck pharmaceutical rep! Let me know if you Merck KGaA, Oncothyreon hit as cancer vaccine fails - Yahoo!know one so I can pass it on! News http://t.co/01fPJQ2L via @YahooNews@ianchant Never has kill it with fire been more aptly used than in Merck KGaA, Oncothyreon hit as cancer vaccine fails --this very instance. MERCK THAT SHIT UP. @globol10 !! http://t.co/zgiQ0DiC www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ
  • 17. SOCIAL INSIGHTS Contact us for additional information or to schedule a demo VOZIQ (http://voziq.com) provides social media analytics solutions & services to support market research, develop strategic insights and improve business performance using voice of customers and influencers. Phone: 1-888-427-2328 email: info@voziq.comwww.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ