social media for business success: life sciences january 2011
DESCRIPTION
Presentation to the Life Science Industry, January 2011TRANSCRIPT
ENERGISE2-0.COM
Social Media for Business Success: Life Sciences
Connecting, Communicating, Informing
Dr. Jim Hamill [email protected]
Alan [email protected]
January, 2011
ENERGISE2-0.COM
Session Aims and Objectives
• A brief overview of social media, impact on the life sciences industry, business opportunities and threats for Scottish life science companies, key issues in the development and implementation of an effective social media strategy
• Core premise:– the question is no longer ‘should we become involved’;
but rather how can we best leverage the full potential of social media for our organisation
‘Social Media Planning Pays’
ENERGISE2-0.COM
Agenda
1. Social Media Overview- What is it? How important? Impact on life sciences?
2. Potential Business Benefits
3. Social Media in Action (Life Sciences)
4. Social Media Monitoring Tools
5. Moving Forward - “Social Media Planning Pays”
6. Questions
ENERGISE2-0.COM
The Social Media Revolution
– What is it?– How big is it?– Impact on Life Sciences
ENERGISE2-0.COM
ENERGISE2-0.COM
ENERGISE2-0.COM
What is Social Media?
The three main components:
ApplicationsFeatures and characteristics
Business impact
Life Sciences 2.0
Web 2.0 Applications
Open sourceOnline Applications/ Web ServicesSocial Network SitesSocial Content – Social BookmarkingBlogs or WeblogsWikisPodcasts/ VodcastsVirtual RealitiesMash UpsRSS FeedsMobile Web; Internet TelephonyTwitterCharacteristics
Communities and NetworksOpennessSharingPeeringHosted Services – online applications; the Internet as the platformInteractivitySocial ElementMass CollaborationEmpowermentGlobal
Business Impact
MindsetBusiness IntelligenceCustomer Insight and UnderstandingCustomer InteractionEnhanced Customer Experience –
Rich Internet ApplicationsReputation ManagementSales and Marketing Product Development and R&D e.g.
engage and co-createIT/Software/ApplicationsOperations, Internal Processes and
HRM
ENERGISE2-0.COM
How Big Is It?
ENERGISE2-0.COM
Impact on Life Sciences Industry
ENERGISE2-0.COM
Things to Rememberabout Social Media
ENERGISE2-0.COM
Key Things to Remember
• It’s social– A key feature is online democracy – with content being provided by the
network for the network – represents a fundamental and revolutionary change in online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet
– Conversations are taking place relevant to your business• Power shift
– Social media empowers customers, empowers the network. Recognizing this shift is the cornerstone of future success
– Blogs, social/professional network sites etc have become a prime source of health care/life science information
• Declining effectiveness of traditional approaches – Does anyone listen to pharma/life science sales/brand messages
anymore?
ENERGISE2-0.COMSource: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)
ENERGISE2-0.COM
ENERGISE2-0.COM
Key Things to Remember
• Pull v push– Consumers/users decide what information they wish to access
• New ‘mindsets’ are required– Marketing as a conversation with your customers/network–
dialogue not broadcasting– But this is something that most of us are not very good at doing.
We prefer ‘telling’ people• SM ‘winners’ and ‘losers’
– ‘Winners’ will be those organisations who fully utilise the interactive power of Web 2.0 technology for engaging with and energising customer and network relationships
ENERGISE2-0.COM
ENERGISE2-0.COM
ENERGISE2-0.COM
Key Things to Remember
• New performance measures– Requires new performance measures
• Quality of your network• Relationship strength• Ability to leverage
• Social media monitoring tools (see later)
• Redefines the concept of a web site– a blog integrated with your other social network sites
• The need for new business/marketing models
ENERGISE2-0.COM
Performance Measurement
Involvement – network/community numbers/quality, time spent, frequency, geography
Interaction – actions they take – read, post, comment, reviews, recommendations
Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc
Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking
Insight – customer insight Impact – business impact
Social Media Monitoring Tools –Audit, Assess, Impact
ENERGISE2-0.COM
Key Things to Remember
The need for new life science business/marketing models
– Traditional approach:• Product development – Differentiate – Market and Promote -
Sell
– New model based on: • Communities, networks, openness, peering, sharing,
collaboration, customer empowerment, ‘think and act’ globally
• Engage and energise• ‘Create the Buzz’
ENERGISE2-0.COM
Potential Business Benefits
ENERGISE2-0.COM
Business Benefits
• Used effectively, social media can deliver the following business benefits– Market/Customer Knowledge & Insight– Engagement & Reputation Management– Enhanced Customer Experience and Loyalty– Sales/Marketing Effectiveness, Efficiency and ROI– Operations/ Internal Processes (open source and hosted
apps)
• But the key words are ‘used effectively’............
ENERGISE2-0.COM
Applications and Business Benefits
ENERGISE2-0.COM
Some Examples of Social Media in Action (Life Sciences)
ENERGISE2-0.COM
Snapshot Examples
• Social and professional networks• SME blogging• Linkedin• Twitter• Facebook
ENERGISE2-0.COM
Niche 'Health Care' Networks
HEALTHCARE AND MEDICAL PROFESSIONALS
MedicalMingle: - MedicalMingle.com MyMedPort: - MyMedPort.comSermo: - Sermo.comOzmosis: - Ozmosis.comiMedExchange: - iMedExchange.comBioMedExperts: - BioMedExperts.com.DoctorsHangout: - DoctorsHangout.com
Ps – this is a 2009 list. Some sites will no longer exist; others will have emerged
ENERGISE2-0.COM
Niche 'Health Care' Networks
PATIENTS AND HEALTHCARE CONSUMERS
CarePages: - CarePages.comcheckMD: - checkMD.comPatientsLikeMe: - PatientsLikeMe.com DailyStrength: - DailyStrength.comMyFamilyHealth: - MyFamilyHealth.comICYou: - ICYou.comRevolutionHealth: - RevolutionHealth.comEnurgi: - Enurgi.comRealMentalHealth: - RealMentalHealth.com
ENERGISE2-0.COM
biospace.com
ENERGISE2-0.COM
biomedexperts.com
ENERGISE2-0.COM
nexxusscotland.com
ENERGISE2-0.COM
SME Blogging
ENERGISE2-0.COM
Integrated with other SM channels
ENERGISE2-0.COM
Targeted content
ENERGISE2-0.COM
Life Sciences on Linkedin
ENERGISE2-0.COM
119,547 people.....
ENERGISE2-0.COM
2,468 companies.....
ENERGISE2-0.COM
803 groups....
ENERGISE2-0.COM
500 plus answers.....
ENERGISE2-0.COM
23 jobs....
ENERGISE2-0.COM
Quick Case Example
Using Linkedin to Build a Quality International Customer Base/ A Quality
Network
ENERGISE2-0.COM
The Company
• A new business start-up
• Supplier of hi-tech solutions to the neurotechnology and optogenetic sectors
• Project Task– Identify most attractive potential customers and a
communications plan for engagement
• Who, Where, How?
ENERGISE2-0.COM
So how did we use this approach?
ENERGISE2-0.COM
Quality Customer Growth Programme
• Start with a ‘Customer Mapping Exercise
• Identified 3 main customer groups– Individuals in neuroscience– Neuroscience/optogenetic institutes, firms and clusters– Individuals in optogenetics
• Used Linkedin for building a customer database.....• Then position on the Customer Value Matrix• Communications strategy emerged from this.......
ENERGISE2-0.COM
QCGP
• 27,000 neuroscience profiles on Linkedin• 100 neuroscience institutes, firms, clusters• 50 neurotechnology companies• 50 individuals in optogenetics
• Further filtered to identify the Top 50 ‘best sales prospects’• Updated last week........
ENERGISE2-0.COM
39,666 Neuroscience People
ENERGISE2-0.COM
246 Neuroscience Companies
ENERGISE2-0.COM
22 Optogenetics People
ENERGISE2-0.COM
Society of Neuroscience 2,889 Members
ENERGISE2-0.COM
ENERGISE2-0.COM
#lifesciences
ENERGISE2-0.COM
One person's favourites.....
• Scientists @mishaangrist, @westr, @genegeek, @nutrigenomics,
• Clinicians @kevinMD, @DrAnasYounes, @jackwestMD @Breastoncology
• Biotechnology Companies @Iontorrent, @completegenomic, @roche_com @wherebiobegins
• DTC genomics companies @23andme, @Navigenics, @pathwaygenomics
• Research institutes @stanford, @cityofhope, @wellcometrust, @aruplabs @genomescience
ENERGISE2-0.COM
One person's favourites.....
• Pharmaceuticals @Astrazeneca, @pfizer_news, @GSKUS, @sanofipasteur
• Journals @naturenews, @genomeresearch, @mybiotechniques, @naturemedicine
• Scientific News @genomeweb_news, @NCIbulletin, @guardianscience
• Scientific Associations @AACR @GeneticsSociety (ASHG) @TheACMG
• Regulators @FDAdeviceInfo, @FDArecalls
http://divabiotech.wordpress.com/2010/12/20/why-life-sciences-companies-must-embrace-social-media-now/
ENERGISE2-0.COM
Facebook – limited potential.....
ENERGISE2-0.COM
So what progress has been made by Life Science companies in Scotland?
ENERGISE2-0.COM
Progress Made
• Interest and enthusiasm among Life Science companies is growing rapidly - channels are being set up
• But there is a need for a more ‘strategic’ approach - clear social media vision and strategy, agreed objectives, KPIs, targets, ROI and on-going performance measurement
• More attention needs to be paid to organization, people, resource issues critical to on-going SM success
Social Media Planning Pays
ENERGISE2-0.COM
But first – a brief word on Social Media Monitoring Tools
ENERGISE2-0.COM
Monitoring the Conversations
• A very broad range of Social Media Monitoring Tools are available for monitor online conversations relevant to your brand
• Key questions: - who is taking about your sector/brand? where are the conversations taking place? what are the sentiments being expressed? what actionable insights can be derived?
ENERGISE2-0.COM
Wide Range of SMM Tools
• No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, IceRocket, Blogscope, Blogpulse and ViralHeat
• More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and Infegy SocialRadar
• Use of these tools to evaluate your SOCIAL MEDIA LANDSCAPE is the foundation for a successful social media strategy. Also used for social media performance measurement – the ‘6Is’ approach
ENERGISE2-0.COM
Monitor and Measure
• To ensure that your SM strategy delivers a return on investment, it is important to monitor and evaluate on-going performance benchmarked against agreed objectives, KPIs and targets
• Performance evaluation should be undertaken at three main levels using the ‘6Is’ approach….
ENERGISE2-0.COM
SM Performance Measurement
60
ENERGISE2-0.COM
Who is talking about “life sciences”,where online, what are they saying?
ENERGISE2-0.COM
www.socialmention.com
ENERGISE2-0.COM
www.socialmention.com
ENERGISE2-0.COM
www.socialmention.com
ENERGISE2-0.COM
www.socialmention.com
ENERGISE2-0.COM
Some Advice for Moving Forward
ENERGISE2-0.COM
Moving Forward
• The key strategic, management and organizational challenges involved in planning, implementing and managing successful social media strategies for sustained business growth
• ‘Social Media Planning Pays’……. SM success requires sound planning and the application of professional project management procedures …. but not ‘paralysis by analysis’
• Ensure that your SM Strategy is fully aligned behind and supportive of your core business goals and objectives
ENERGISE2-0.COM
Social Media Development Cycle
ENERGISE2-0.COM
SM Development Cycle
ENERGISE2-0.COM
Each Step is being covered in detail on our blog at www.energise2-0.com
ENERGISE2-0.COM
Five Key Areas
• External Analysis: Evaluate Your Social Media Landscape• Internal Analysis: Evaluate Your ‘Readiness to Engage’• Develop Your Social Media Strategy and Action Plans for
‘Getting There’• Evaluate Your Social Media Performance and ROI• Organization, People and Resource Issues
ENERGISE2-0.COM
‘Be Customer Led’
Three key questions:
• Who are our customers, who do we wish to engage with?
• Where do we find them ‘hanging out’ on social media?
• How can we best engage and energise them?
ENERGISE2-0.COM
www.mashable.com
ENERGISE2-0.COM
Develop Your Social Media Strategy and Action Plans for ‘Getting There’
ENERGISE2-0.COM
Use a Simplified Balanced Scorecard
• Will ensure that the social media actions and initiatives you take are fully aligned with and supportive of your overall business goals and objectives; that KPIs are agreed for monitoring and evaluating social media performance, business impact and ROI; and all key success factors are considered, especially the organization, people and resource aspects critical to successful strategy implementation
• A Scorecard approach can also be very useful for internal and external communications – a simple framework to present social media goals, objectives, key actions and initiatives to colleagues, partners and other stakeholders
ENERGISE2-0.COM
Social Media Balanced Scorecard
• Not ‘paralysis by analysis’. By providing an agreed framework to follow, the Balanced Scorecard considerably speeds up strategy development and implementation
• The steps involved can be captured in a Social Media Strategy Map
• Five key questions to address……
ENERGISE2-0.COM
Social Media Balanced Scorecard
• What is the overall social media vision for your organization?
• What are the key objectives and targets to be achieved?
• Who are your customers?
• Key Actions and Initiatives
• Organisation, Resource and People Issues
ENERGISE2-0.COM
Social Media Strategy Map
Brief statement of your overall 2.0/Social Media Vision and Mission Strategic Objectives Customer Perspective Internal Management Perspective Organisation Perspective
Strategic Objectives KPIs / Targets
KPIs / Targets KPIs / Targets
KPIs / Targets
Customer Group 1
Customer Group 2
Customer Group 3
Customer Group 4
2.0/Social Media Initiative 1 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 2 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 3 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 4 - Objectives - KPIs - Targets - Actions
Organisation People Resource
ENERGISE2-0.COM
Organization, Resource and People Issues
ENERGISE2-0.COM
Organization, Resource and People
• Organisation, resource and people issues sit at the bottom of your SM Balanced Scorecard NOT because they are the least important issues to address. In fact, the exact opposite is true
ENERGISE2-0.COM
Conclusion
• Use social media to build strong relationships with your customers, partners, staff, regulators etc; engage with and energise your network to become ‘brand advocates’
• Social media has become too important to ignore
• But ‘plan the work and work the plan’
ENERGISE2-0.COM
Bob Dylan
Come gather 'round peopleWherever you roamAnd don’t criticise
What you can't understandYour sons and your daughters
Are beyond your commandYour old road is
Rapidly agin‘Then you better start swimmin’
Or you'll sink like a stoneFor the times they are a-changin’
ENERGISE2-0.COM
Continue the discussion at www.energise2-0.com
ENERGISE2-0.COM
Thank You
Questions