Can Pharma Embrace Social Media? Social Media in Pharma July 12, 2011 Panel: Alex Butler, EMEA Marketing Communications Manager, Janssen Daisy Chhatwal, Senior Manager Regulatory Affairs, MedImmune Ellen Hoenig-Carlson, Founding Partner, AdvanceMarketWoRx
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How can pharma get started in social media? What are the first steps?
Who in pharma is doing a good job of using social media?
What are some industry best practices?
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Is Social Media Right for Pharma?
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Traditional Model: Engage Physicians
Pharma
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Emerging Model: Engage Physicians & Patients
Pharma
The Power of Social Media
1% Key Influencers
9% Sharers
90% Audience
Source: Jake McKee & 90-9-1.com6
Cautionary Tale
KV Pharmaceutical Company launches Makena
The News“First and only treatment approved by the U.S. Food and Drug Administration (FDA) to reduce the risk of preterm birth in women who are pregnant with single baby and who have delivered a baby too early (preterm) in the past.”
OR
“Premature labor drug spikes from $10 to $1,500” - MSNBC
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Cost Storyline Pushed on Facebook
>1,200 Likes in a week
Widespread attention
Media frenzy
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A Trust Partner Lost
“…immediately cease and desist the use, distribution or publication of or reference to the March of Dimes name and/or logo on any materials or communications in connection with KV Pharmaceuticals.”
-Jennifer Howse President, March of Dimes
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A Teachable Moment
KV sent cease and desist letter to pharmacies
FDA announces: no enforcement action
U.S. Representatives respond
KV shares plummet
KV cuts price in half
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What is “Right” For Pharma
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Listen and learno Funnel adverse events via standard procedures
Offer value by creating “shareworthy” material, make it easy to share, let patients take it social
Social media is a tactic, not a strategy: should support marketing or organization goals