A presentation I did for my Leadership and Special Topics in Pharmaceutical Marketing and Management class on social media. I completed this project with Tae Lee.
Business Model Canvas (BMC)- A new venture concept
Social media presentation Amanda Ha
1. Engaging Opportunities and Challenges Pharma, Physicians and Social Media: Presented By Amanda Ha & Tae Lee
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11. What are they interested in? What How are they “consuming the information? How 3 Who are key influence points? Who New ways to understand needs 2 1
25. t Convince physicians of the value of Social Media Create forums for physicians Identify and acknowledge the range of “influence points" 3 2 1
Pharma, Physicians and Social Media: Engaging Opportunities and Challenges
Social Media has increased 8 times in the past year – mind you this report was written in September 2009 Ideal way to connect with a varied/diverse audience versus conventional methods Facebook and Twitter are being used by HCP for professional as well as personal reasons… Professional – educate patients, network/market their practice Private – connect with friends and family Pose problems regarding privacy & professionalism Younger professionals have a harder time between professional and private use Lawsuits around offering specific medical advice and general issue of liability are key concerns for HCP Social media sites, such as twitter and facebook have posted disclaimers notifying visitors to the site that “following” certain companies and users does not mean they endorse the views of the followed individual/company/etc Facebook for physicians sites are becoming more popular – they are physician only networks that are accessible to qualified physicians where they can exchange ideas, opinions, and treatments however these sites face similar challenges around malpractice suits Pharma companies are treading carefully They are targeting patients and advocacy groups versus physicans and nurses They are also complementing many traditional internet resources with social media platforms such as live video detailing, physician customer service portals, and enhanced product websites
These sites are described as “facebook for physicians” and are physician only social networks where they can exchange ideas, opinions, and information about treatments Although not as popular, approximately 60% of doctors as of september 2009 are using or are interested in using these physician online communities… with the increase in social networking in the past year and half, we can expect the number has increased. It is imporant to note that these sites are free for physicians, but make money by selling aggregated data from physicians’ anonymous conversations to financial companies, government agencies, and pharaceutical companies. Some sites have options such as “trends” similar to google trends, where you can track demographics and keywords. It is important for agencies and companies to understand if doctors are using off label use for a product that is relatively unknown or new side effects or even clinical trials. These findings used to take months or even years, but now this information can be found and addressed much sooner and with greater accuracy and detail. However this also does give physicians risks to expose themselves to malpractice suits.
Mayo clinic began with podcasts called “The Hypochondriac feed of the day” in september 2005. Downloads jumped from 900/month to 74000/month after the podcast was highlighted on iTunes They produce longer podcasts on a variety of subjects ranging from 10 minutes to 80 minutes They also target blogs, facebook, twitter, and youtube – and treat them as if they were your “four basic food groups” according to Lee Aase, Manager of syndication and social media. The clinic relies on word-of-mouth to advertise and spend very little on ads… they implemented their entire social media for less than $1500. word-of-mouth has been a crucial part of building their brand for over 100 years and they see social media as the 21 st century version of word-of-mouth. This gives them the potential to talk to the whole world. Key concerns as with all forms of social media fall onto privacy and professionalism… does a healthcare professional have liability for helping a customer if they miss a vital sympton that could help their diagnosis? Could they violate HIPAA complience? What are good standards for them to follow? Do the lines between professional advice and personal advice blur online?
Pharma companies are continually looking at new ways to understand what physicians need… They want to know what kind of information they’re interested in, how they find it, and what influences them. Physicians are shifting to digitally “consuming” professional content (84% of US physicians use the internet to access information) However, pharma companies need to consider that not all physicians will consume information the same matter: one may prefer texts on their cell phones, while another may prefer an online journal or watch a video on Youtube. Influence points include peers, key opinion leaders, patients, media, regulatory bodies, insurers, patient advocacy groups, and pharma companies as well.
Identify and acknowledge the rage of “influence points” Convince physicians the value of social media Create forums for physicians
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