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Can Pharma Make a Business Case for Social Media? Shwen Gwee Founder & Host Med 2.0 Blog and Podcast
Disclaimer ,[object Object],[object Object],!
Overview ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
#1 What is Social Media?
Working Definition ,[object Object],[object Object],[object Object]
Shift Happens ,[object Object],FROM TO PUSH Broadcasts PULL Content Monologue Conversation Individual Consumption Group Participation Sales & Marketing Pitch Authenticity/Transparency Attracting Publicity Pursuing Interaction
Shift Happens ,[object Object],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 ,[object Object],[object Object],[object Object],[object Object],[object Object],Corporate/ Enterprise Pharma
Hurdles: IT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Hurdles: Marketing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Hurdles: Executives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Hurdles: Legal & Regulatory ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
#5 How do I get started?
Think Outside the Bun ,[object Object],[object Object],[object Object],[object Object]
Listen and Learn ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Join the Conversation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Experiment and Participate
Educate, Educate, Educate… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Case Study: Energize  & Enthuse ,[object Object]
Case Study: Academy Mobile – Results ,[object Object],[object Object],[object Object],[object Object],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 ,[object Object]
Other Sources of Customer Data ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Determine Strategy & Technology ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Determine Strategy & Technology ,[object Object],[object Object],[object Object],[object Object]
Don’t Think Conventionally  Image by armanz on Flickr: http://www.flickr.com/photos/7855449@N02/2936653440/in/set-72157606844282993/
Case Study: DigiRedo ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Case Study: DigiRedo – Strategy
Case Study: DigiRedo – Strategy
Case Study: DigiRedo – Results   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Case Study: DigiRedo – Reactions
#7 How about regulatory concerns?
Define Policies and Processes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Define Policies and Processes ,[object Object],[object Object],[object Object],[object Object],[object Object]
Example 1: JNJBTW.com
Example 1: JNJBTW.com ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Example 2: Adderall XR YouTube Video
Example 2:  Content , NOT Context ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
#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 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
~  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  -

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Can Pharma Make a Business Case for Social Media

  • 1. Can Pharma Make a Business Case for Social Media? Shwen Gwee Founder & Host Med 2.0 Blog and Podcast
  • 2.
  • 3.
  • 4. #1 What is Social Media?
  • 5.
  • 6.
  • 7.
  • 8. Models of Influence are Changing Image by armanz on Flickr: http://www.flickr.com/photos/7855449@N02/2828883082/in/set-72157606844282993/
  • 9. #2 What are the Main Hurdles?
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15. Image by karynsig on Flickr: http://www.flickr.com/photos/karynsig/752728221/ Image by wetwebwork on Flickr : http://www.flickr.com/photos/wetwebwork/2606928063/
  • 16. #3 Why is it Important?
  • 17. More Customers Consume Media Online Source: Manhattan Research Cyber Citizen Health v7
  • 18. Consumers Shifting Online for Health Information
  • 19. Consumers More Satisfied with Health Information from the Internet Source: Manhattan Research Cyber Citizen Health v7
  • 20. Online Video Experiencing Significant Growth Source: Manhattan Research Cyber Citizen Health v7 In Millions
  • 21. More Physicians Moving Online for Professional Resources
  • 23. #4 Where does it fit in? (And who should be in charge?)
  • 24. Basic Objectives of Social Media Listen Engage/Embrace Energize Support OBJECTIVES Market Research Marketing/PR Sales/Marketing Customer Service ROLES
  • 25.
  • 26. 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/
  • 27.
  • 28. #5 How do I get started?
  • 29.
  • 30.
  • 31.
  • 33.
  • 34.
  • 35.
  • 36. #6 What Strategies Should We Use?
  • 39. 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
  • 40. 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
  • 41.
  • 42.
  • 43. 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
  • 44.
  • 45.
  • 46.
  • 47. Don’t Think Conventionally Image by armanz on Flickr: http://www.flickr.com/photos/7855449@N02/2936653440/in/set-72157606844282993/
  • 48.
  • 49. Case Study: DigiRedo – Strategy
  • 50. Case Study: DigiRedo – Strategy
  • 51.
  • 52. Case Study: DigiRedo – Reactions
  • 53. #7 How about regulatory concerns?
  • 54.
  • 55.
  • 57.
  • 58. Example 2: Adderall XR YouTube Video
  • 59.
  • 61. Can You Measure the Value Of… Image by Damien Roue on Flickr: http://www.flickr.com/photos/damienroue/2581992080/
  • 62. Can You Measure the Value Of… Image by Mulad on Flickr: http://www.flickr.com/photos/mulad/143851399/
  • 63. Can You Measure the Value Of… Image by b_d_solis on Flickr: http://www.flickr.com/photos/briansolis/2676945109/
  • 64. Can You Measure the Value Of… Image by Duke Green on Flickr: http://flickr.com/photos/duke_geren/124379253/
  • 65.
  • 66. But More Importantly… Are You Listening? Image by Orange Beard on Flickr: http://www.flickr.com/photos/metrojp/92038203/
  • 67. Free “Listening” Tools Google Analytics AideRSS FeedBurner
  • 69. 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
  • 70. 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)
  • 71.
  • 72. 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.
  • 73.
  • 74. ~ 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 -