what does social media advertising look like for #bigpharma

Ok, so social media was born to be social and not for advertising. But many companies are using social media for social media advertising, that is paid content on a social media platform. What should social media advertising look like for #bigpharma?

What are some of the benefits of social media advertising?

Some important factors to keep in mind of social media advertising?

  • Select carefully your social media platform – do the demographics match your message
  • On which social media platform is my audience
  • Which social media platform is your audience most engaged
  • Always be testing and watch for different ad formats on each platform
  • Balance advertising with organic, not paid, content
  • Design ads with mobile in mind

How do you measure social media advertising?

  • Track which posts resonate better with your audience
  • Are you measuring impressions or engagement
  • Track the ads being clicked, liked, shared or commented

Developing a social media advertising strategy?

  • Don’t run the same ad on different platforms – different platforms different formats
  • On tv repeating the same ad works whereas on social media fresh and engaging advertising works
  • Build company brand awareness by teaching and informing people
  • Have a budget in place
  • Don’t forget mobile

So what does social media advertising look like for #bigpharma?

  • Less traditional advertising ads and more original content
  • More on science, research, patient needs, clinical trials, disease awareness
  • More social media employee advocates, this is the best promotion for any organization
  • More live streaming on disease awareness and research
  • If you are patient-centric and going beyond the pill, then embrace social media platforms for real-time customer service, for example, GSK Response Center @GSK_ResponseCtr

#bigpharma CEOs that grew up with social media

What would make me happy right now? To see #bigpharma CEOs who grew up with social media. In the future CEOs not being on social media will not be a *nice to have*. Instead, CEOs being active on social media platforms will be a requirement.

What effect does a CEO on social media have on its organization?

  • Improves your organization/brand image
  • You are a human being creating a human connection making you a better leader
  • It builds trust – people trust people
  • It builds authority – you become a thought leader in your sector

Why do CEOs use social media platforms?

  • It can be a very powerful executive tool
  • It’s free PR for the organization you represent
  • To become industry thought leaders
  • It’s a cultural shift – You cannot ignore anymore you have to be there

What do #bigpharma CEOs need to know about social media?

  • Competition is fierce even on social media platforms
  • You don’t have to post all the time
  • Social media is a global broadcast channel
  • Social media is for engagement
  • Make sure you are up to date with technology and trends – platforms are constantly being updated
  • Look at the different demographics of each platform
  • Makes press releases look like old school

How much time should CEOs spend on social media?

  • There are no set guidelines for social media use
  • Too much on social media may be seen as distracting or unhealthy
  • Posting once in a while may have more impact
  • Answer people on social media platforms to show you are human and accessible
  • Have a team in place for active listening, follow up or approval of messages

Active #bigpharma CEOs on Twitter at the moment?

  • Axel Steiger @axel_steiger CEO @Bayer
  • Brent Saunders @brentlsaunders Chairman & CEO @Allergan
  • Omar Ishrak @MedtronicCEO Medtronic Chairman and CEO

#bigpharma needs to move content to a conversation

In a previous post, I wrote about how social media platforms were born to be social. Across the years #bigpharma has been using social media to place traditional advertising ads and to drive traffic to their websites. So how can #bigpharma move away from this behavior and create content that can lead to a conversation?

Why is content leading to conversation important for #bigpharma?

  • Remember this rule – 80% value 20% self-serving
  • It makes you more human – people trust people
  • Shows you are not just a cold organization

#Bigpharma needs to develop an online personality, why?

  • Demonstrates your company culture
  • Need to get away from advertising ads and show your human side

What can #bigpharma gain by conversing online?

  • Positive or negative you need to listen and learn what people are saying about you
  • Helps you to take action and becomes part of your strategic plan
  • Gives you the ability to respond to the needs and concerns of your customer

How can #bigpharma do this?

  • Share posts even if they are not yours
  • Join in existing conversation – Tweet chats for example
  • Respond to comments
  • Answer complaints
  • Answer questions
  • Don’t be silent – it will not go away
  • Remember 24/7 news cycle – don’t wait a week for responses
  • Use live streaming video – FaceBook live is awesome for this
  • Be consistent – don’t go in the dark
  • Do not dominate the conversation

How does this impact #bigpharma and its internal organization?

  • In 24/7 news cycle #bigpharma needs to have a corresponding internal structure in place – market environments calls for internal adaptation
  • Communication hierarchy needs to be reduced so that information is delivered rapidly and correctly
  • Social media group/teams should be allowed to have a priority channel to the C-Suite for rapid responses
  • Reduce department silos in order to create a greater network and exchange of information and create better working relationships

social media is transforming how we get our news is #bigpharma adapting

The media landscape is changing very rapidly.  According to Pew Research Center: “as of August 2017, two-thirds 67% (up from 62% in 2016) of Americans report that they get at least some of their news on social media”. So this means that news is spreading faster and people are consuming news digitally each day. How does this change impact #bigpharma?

 

 

 

How is social media disrupting the traditional news channels?

  • Social media is the place to find breaking news
  • Social media is where people turn to first to get news
  • People now search for what is *trending* on social media
  • We have a president that likes to communicate via Twitter
  • Social media has greater reach

Why are people turning to social media platforms for news first?

  • Easy access to news
  • Can access from any device
  • Easier to engage on social media platforms
  • Easier to start a conversation on social media platforms
  • Easier to express opinions on social media platforms
  • Citizens are becoming journalists -that is citizens are becoming active players in collecting and reporting news

So what does this mean for #bigpharma?

  • News cycle is now 24/7
  • Need to be monitoring and responding within 24 hrs. on social media platforms
  • Less traditional channels (social media platforms) will need more investing (financial and headcount)
  • Need to be listening and communicating via new channels

How can #bigpharma manage the 24/7 news cycle?

  • Have social media monitoring team in place
  • Establish roles and responsibilities – including the C-Suite
  • Make sure to have a crisis communication plan in place
  • Be ready to respond the minute you find yourself in the news – it is unacceptable to be silent
  • Plan as much as you can to be ahead of the news cycle
  • Stay in control of the message

Should #bigpharma be investing more in social media platforms and getting news across than traditional advertising?

  • yes

#bigpharma value content versus ego content

#bigpharma tends to talk more about themselves on social media.  At times we see posts of *corporate good*, *most loved*, *most admired*, *best place to work* content on social media. But is this balanced with adding *real value* content?

Why do we self-promote?

  • We want attention and try to get attention
  • We want to stand out
  • We want to drive traffic to our blog, our products, website or something else

Is promoting yourself ok?

  • Yes
  • General rule is *providing value 80% of the time and you can self-promote 20% of the time*
  • Keeping your ego at a check and always providing value to your audience is a tricky balancing act

Some examples of #bigpharma self-promotion?

  • Awards
  • Testimonials
  • The best place to work
  • Most admired
  • Corporate good

How can you tell if  #bigpharma content really is adding value or if it is just an ego boost?

  • Does it engage or start a conversation with people
  • Does it create a deeper relationship with your audience
  • Does it have a human touch
  • Is it authentic
  • Does it have a direct line to your products, website
  • Do you share content that is not related to your business

So what does the perfect balance look like for #bigpharma?

  • Ask yourself are you thinking about yourself or about your audience
  • What content has worked in the past – which topics engaged your audience more
  • Are you using social media to discuss important topics
  • Are you approaching your content as your audience would

#bigpharma going live

Social media platforms are adding live streaming to their feeds in the hope of attracting more people and to generate revenue. How can #bigpharma use live social media streaming?

Why live social media streaming?

  • Many people are online today
  • Videos have the top spot for social media content
  • Videos on social platforms are more accessible than watching tv ads

How is live video streaming different from video marketing?

  • Streaming is live and video marketing is pre-recorded
  • Live is unedited
  • Live video is in the moment
  • Live is very interactive – it is about real people conversing and engaging
  • Live streaming is easy to produce and videos don’t have to be well produced or perfect

The key features of live social media streaming?

  • Accessibility – anyone can produce
  • Anytime anywhere – can watch on any device
  • Urgency – it’s happening now so it feels more urgent
  • Priority – social media platforms will prioritize live streaming
  • Stands out – attracts more user attention
  • Audience building – can reach a broader audience
  • Higher engagement rate – higher than image engagement

Benefits for #bigpharma to stream live on social media platforms?

  • A way to educate and reach a broader audience
  • A way to engage and interact with audiences
  • A way to maintain a social media presence
  • Has more of a human element – greater than texts or images
  • Creates a more intimate and authentic experience
  • Live video can be play-backed later
  • User-friendly

Fears for #bigpharma to use live streaming?

  • The fear of new forms of media
  • Using live instead of recorded video
  • Potential comments during the event or interactive session (which is the same risk as in any live event)

#bigpharma did you know social media was not created to market, advertise or promote products

Social media was born with the intention of bringing people together. However, it has dramatically shifted from only connecting people to being used as an advertising platform. But is it the right place for advertising?

The original main objective of social media?

  • born to be “social”
  • bring people together
  • build networks
  • allow for opinions and conversations to take place

When did brands start to see the possibilities of social media?

  • a lot of customers all in one place
  • free platforms
  • another marketing channel
  • another platform for ads
  • platform to direct back to website

How to make sense out of all the marketing & advertising noise today?

  • are you useful?
  • are you unique?
  • do you encourage your audience to engage?
  • does your content stand out – is it unique, educational, fun and relevant?

The most common reason people use social media today?

  • keep in touch with friends
  • to fit into a larger circle
  • to express thoughts and public opinions (example self-forming groups)
  • to receive and filter information

How can #bigpharma make it social again?

  • make customer engagement a priority
  • monitor and listen to online conversations
  • be community-minded
  • be adding value and not just looking for sales
  • be real
  • be authentic
  • embrace more social media platforms

social media listening and privacy for #bigpharma

People like to share things on social media and data analytics from social media listening helps #bigpharma, and companies in general, understand the consumer better. But has there been a breach of trust?

Is #bigpharma listening to what you are saying online?

Yes

  • On native platforms
  • Through a third-party tool, to analyze large volumes of data
  • Through agencies, if #bigpharma lacks the tools needed to scale monitoring efforts

What does #bigpharma usually monitor?

  • Brand, product, and company mentions
  • Hashtags that are medical, disease, pharma related
  • Pharmaceutical news
  • Conference updates
  • Awareness campaigns
  • Customer Service (for example @GSK_ResponseCTR)
  • Drug Adverse events

Is there a difference between listening and understanding?

  • Think of it less of a big brother and more about understanding brand perception
  • Listening allows for understanding valuable business insights
  • Listening allows for understanding and uncovering trends
  • Listening allows for understanding views of patients, healthcare professional, and consumers
  • Listening also can enhance online engagement, which is what social media is all about

Outcomes of social media listening?

  • Can identify demographics of reach on different social media platforms
  • Can identify most effective platform, time and format for content
  • Can identify the characteristics of a customer
  • Can identify online behaviors and patient journey

All right the elephant in the room, is it all ethical?

  • All social media platforms have a set of Terms and Conditions that detail their data protection regulations
  • Data that is analyzed is aggregated, users kept anonymous, mostly numbers, statistics, but no names
  • Platforms and uses evolve, so regulations need to be updated: EU Laws GDPR May 25, 2018

 

the need for #bigpharma to change business model or become obsolete

Today social media is one of the most powerful marketing tools a business has at its’ disposal. Not originally designed with business in mind, but today many are using it for marketing and business. This post is based on some tweets I came across during the 2018 #ePharma summit March 21,22,23 in NYC.

 

 

 

Why is it so hard for #bigpharma to change its business model?

  • Still living in silos – no sharing among departments
  • Marketing is isolated from sales and all are isolated from the executive floor
  • New companies have social media in their DNA
  • Easier to fit social media into a new company building from the ground up
  • Harder to fit social media into an already long traditional established business culture

 

How can social media help #bigpharma change its business model?

  • It helps in breaking down the silos
  • With social media companies are directly communicating with customers and among departments and colleagues
  • Traditional walls are broken down
  • Brings changes to structural staff
  • Business is more focused on targeting your audience
  • People turn to social media to communicate – organizations need to respond
  • Social media trends change rapidly – need to stay on top of things

 

How can #bigpharma make the transition?

  • Design a social media strategy
  • Design a social business strategy
  • Understand how social media can shape your business
  • People do not trust advertising anymore – move from ads to organic content – which is more authentic
  • Connections – it is all about connecting and being engaged rather than advertising
  • Work hard on earned media

 

What is needed for #bigpharma to make the change?

  • Build a good content marketing department and strategy
  • Build a good customer service department
  • Listen to your customers
  • Move from ads to mastering content marketing
  • On social media, your business is never closed
  • Social media replies need to be instantaneous

 

Can #bigpharma survive without social media?

  • No, it is the destiny of the digital age

#bigpharma caught in the midst of cyberbullying

On March 29, 2018, we witnessed another round of online cyberbullying. This time #bigpharma was caught in the whirlwind. What is cyberbullying? “Cyberbullying frequently used interchangeably with cyberstalking and cyberharassment and refer to adult behavior. Whereas cyberbullying is associated with underage harassment”

 

It all starts with this tweet, Laura Ingraham (Fox News) tweets

David Hogg (Parkland shooter survivor) responds with this tweet

Immediately followed by this tweet

First companies to respond within a few hours on Twitter to the boycott are

  • Nutrish
  • Tripadvisor
  • Wayfair

By the end of the day the following companies had responded to boycott by pulling their ads:

  • Hulu
  • Expedia
  • Nestle
  • Johnson and Johnson
  • Joseph A Bank
  • Stitch Fix
  • Jenny Craig (Friday, March 30, 2018)

People keep track of the companies responding

In the meantime from across the pond the following Tweets were going out:

and in here in the States

@BayerUS responds March 31, 2018, at 5:30 pm

Lessons learned for #bigpharma from this case study:

  • Your stated values need to match your actions online
  • People are watching and keeping track of your actions  – so don’t think it will go away
  • Be mindful of the conversations taking place online
    • turn off your scheduled tweets
    • alert employees on social media what is taking place
  • #Bigpharma companies that were not originally on the list also responded
  • Quick response (hours versus days) matters and is for every company, including #bigpharma