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.
Pharma marketers are facing fatigue. A consequence of maturing marketing practices. Are you seeing the same? Via @SKTornquist @pfizer @Econsultancy #ePharma pic.twitter.com/WqVtSuKCoB
— Stephanie Miller (@StephanieSAM) March 23, 2018
“51% of healthcare says, ‘If we have the same business model in 3 years we’ll be obsolete,’” – Stefan Tornquist, VP, @Econsultancy #ePharma pic.twitter.com/SWl7XV0gG4
— ePharma Summit (@epharma) March 23, 2018
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
