Improving marketing effectiveness with social media analytics in pharmaceutical industry

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www.voziq.com 1-888-427-2328 Copyright 2012 VOZIQ

VOZIQ’s Social Media Analysis Solution for Marketing Effectiveness and

Industry ResearchVOZIQ’s products and services provide you the tools you need to develop action plans based on

voice of to your customers, competitor’s customers and industry influencers.

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Executive SummaryBusinesses today ignore what’s being said about them in the social media at their own peril. In these uncertain and highly competitive times, marketing strategies need to include input and data from every available source. Only recently have businesses discovered that the buzz created in the social media can be an important element of the marketing strategy equation. New technologies have created analytic tools that can help a business understand what is being said in the various social media outlets about them, their competitors and their industry. If the analytic tools can aggregate and quantify the data in a meaningful way, businesses can take advantage of up-to-now untapped marketing opportunities. But most analytic tools these days don’t go far enough. They measure “likes” and “followers” and clicks and downloads, and draw conclusions from those kinds of metrics. At VOZIQ, we see those metrics as only a starting point. Using sophisticated analytical techniques, we track all that is being said about our client, about its competitors, and about its industry. Then we convert it to data that can be aggregated and analyzed, combine it with metadata such as page ranks and Klout scores from various sources, and develop a series of reports that contain specific recommendations for our client.

Social Media Analytics: The Big Picture + The Little Details = OpportunityBusinesses ask this question all the time, “How can my business survive in this new technological age?” The answer lies in understanding their own and their competitors’ customers. A highly effective way of doing this is to leverage the power and pervasiveness of social media platforms, and to utilize the information available from these sources to bring the collective voice of both their current customers and their competitor’s customers to their business.

How social media has changed the art of marketing is there for everyone to see. Today, every business understands that having a social media presence is a must. They are not always clear about the many reasons it is required or the opportunities it can present, but they are certain they must have a presence. So businesses invest substantial funding and personnel resources into creating what they hope will be a successful social media campaign. How do they typically measure whether the campaign in working? Usually by counting Facebook “likes,” Twitter “followers,” and shares. The difficulty with relying on these metrics is that they only present a general picture as to how far the social media campaign’s reach goes. Businesses today tend to focus either on the big picture – looking only at how many people are talking about them - or on the little details – counting only the “likes” and the “followers.” But a social media marketing strategy will not be strong and effective without understanding the importance of both. A proper social media strategy has to take everything into account, not just the scope of the people talking about them and not just the “likes” and “followers.”

The Power of the VOZIQ Approach

At VOZIQ, we use analytics to combine “the big picture plus the little details” to make the most of the opportunities that social conversations present. Prior to embarking on a marketing and business strategy, a business must first assess its social media campaign potential. This means that not only must it monitor what people are saying about the business, but it must also know what’s going on in the entire industry. What people are saying about the competition is just as important as what they’re saying about the business itself! It boils down to three details that need to be monitored and tracked:

• the buzz about the brand of a business,• the buzz about the competitors’ brands,• the buzz about your industry,• the buzz about the industry sector of which a business is a part.

Everything about the buzz needs to be analyzed. Is it positive or is it negative? What topics are people discussing and what is the sentiment for each topic? The list goes on, and the scope of the information seems infinite. It may even seem to be an overwhelming task to aggregate and quantify the data in a meaningful way. But it CAN be aggregated and quantified, and when it is put to good use, the resulting marketing benefits are enormous.

Effective Listening: Social Media Monitoring and Analytical Tools

Listening to potential customers in the social media outlets allows a business to understand what consumers are saying about both a business’s brand and its competitors’ brands. For example, people use blog sites to discuss their experiences and opinions about businesses they have dealt with. Scanning for specific keywords and monitoring these outlets helps businesses identify who is discussing their brand, their competitors’ brands, and where. Our VOZIQ monitoring and analytics can identify those bloggers who are influential enough to sway customers to change from one brand to another. And these techniques can also identify which consumer issues most affect the perception of a business’s brand.

Businesses have slowly come to understand that the world of social media is not just an entertaining fad. It is a new means of very effective and very influential communication among consumers who feel free to speak their mind about anything and everything. Social media must be taken seriously in any business’s marketing strategy. This requires sophisticated tools developed from the most precise and up-to-date technologies to provide the “right” solutions to mine the opportunities from social media that can

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increase revenue for any business. And, using these tools to identify people, places, and topics on social media platforms can help deliver quick and effective action plans for virtually any business. The cutting edge tools developed by and available from VOZIQ allow a business to incorporate people, places, and topics into the context of its brand, its competition, and its industry, and to develop benchmarks and identify specific opportunities that can drive marketing decisions.

In summary, a business can add customers and produce significant financial gains from the potential that exists in social media by using analytical tools to target customers and increase company growth. Social media analytics help define and identify a business’s target market for strategic development, and lead to an increase in sales by focusing on the opportunities that social media outlets uncover.

Why VOZIQMost social media analytic tools in use today are capable of tracking only “likes” and ”followers” or clicks and downloads. But this is only a first step toward engaging your business’s customers and driving revenue, not the end step. At VOZIQ, as a starting point for our analysis, we track relevant discussions and use natural language processing (NLP) technology to categorize these discussions into the buzz about our client, the competitors' buzz, and the industry buzz. We help identify what people are talking about, how they feel about both our client and its competitors, what they’re saying about topics relevant to our client’s line of business and where the buzz is taking place. We establish benchmarks to identify information gaps in key topics of importance, and identify the influencers and the websites that can help our client take steps to close those gaps. Once all of the information is collected and processed, we assess what should and shouldn’t influence our client’s business strategies. Data digging is deeply rooted in our genes, and we collect and analyze each and every word that relates to our client and its social media environment (which we call its eco-system). The results of our analysis are delivered in the form of detailed reports and PowerPoint presentations, which include the insights we have distilled from the data collected so that our client can begin to immediately realize the benefits of the opportunities we uncover.

The VOZIQ MethodologyHaving access to such an immense amount of data from the social media about our client’s brand requires that our client know how to best use it. The VOZIQ social media analysis is more than up to the task.

Here’s what we do: • We gather the unstructured data and convert it to structured data with our NLP technology, using a system of categories and

their sub-categories.• We then use our tools to quantify the data and produce various visuals to display our results and conclusions in a meaningful

way.• We then gather metadata metrics, such as Klout scores, page ranks, sentiment, user location, gender, mention time, etc., to dig

further into the categories and subcategories to obtain meaningful data that could otherwise go undetected.• Finally, we review what we have accumulated and look at it from the perspective of our client’s competition and industry in

order to create benchmarks in specific categories to identify information gaps and action items based on our client’s business objectives.

• All the activities and findings are then consolidated into a report and presentation where useful conclusions are drawn and actionable recommendations are offered.

• Ongoing reports can be generated monthly, weekly or even daily, based on the requirements of our client.

Benefits to Our ClientThe comprehensive analytics of VOZIQ assist our client in the ongoing social media monitoring of consumer opinions and conversations about its brand. Some of the benefits our client can realize with the help of VOZIQ are:

• Improved topline revenue growth from having more accurate insights into the competition, the industry and the eco-system in which the client operates

• Finely tuned key client brand messages that better suit the needs of customers• Accurate positioning of new products as a result of identifying the best market fit for product positioning, features, and rates• Offering of more personalized products and services relevant to the customer in an integrated manner• Proactive engagement with consumers and eco-system players who are proactive themselves, as well as knowledgeable and

influential• Inputs and ideas which can lead to product and service innovations• Assessment of core competencies, weaknesses, and loyalty drivers for a particular competitor• Analysis of what is working and what is not for the competitors in changing circumstances• Improved service to our client’s customers by analyzing issues that a competing brand is facing• Managing our client’s reputation by responding to others’ marketing campaigns that negatively target their brand

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An Example of Our Client ReportsWhat follows is an example of a consolidated data report that we produce for our clients. For this analysis, we started with a universe of several brands. We first used a mention count to learn which banks were the subject of the most buzz. Following that, we checked the sentiment shares among all the brands. Mention counts and sentiment shares are deeply related, and this relationship was also thoroughly analyzed, as shown in one of the report’s graphs. The areas of maximum and minimum buzz were identified for all the brands. Finally, we looked for influential sites and people who could help our client in amplifying its brand’s buzz and further improve its overall brand image.

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Share of Volume

How to use this report:This report highlights share of voice among the brands compared from the industry. This is a good starting point for analysis of a brand before diving into details. Please note, the mention count in itself is not a very powerful metric. But when used along with other metrics it acts as a very powerful ingredient. Also larger the count doesn’t mean better popularity. Instead it gives a better opportunity to understand the true stand of the brands in their respective industries. But yes! One has to agree that more the count always equals to more awareness.

From the above graph one can easily make out that all the large portions in the graph belong to the top brands which augur well with the above statement that mention count acts as an indicator of the awareness of the particular brand.

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Sentiment Balance

How to use this report:This report shows how different brands compare on their positive and negative share of the buzz using detailed sentiment analysis, which automatically categorizes various social media mentions into positive, negative and neutral categories. A quick glance of this report highlights if the generated buzz from the share of voice report is generally positive or negative compared to the industry peers.

To analyze a sentiment graph one must remember that many factors are involved. One of such factors is the total mention count and another one is the net sentiment score. The higher the net sentiment score, the better in general the buzz generated for that brand. You might need to drop outliers for comparative analysis as some might skew the results with unusually high/low volume or sentiment scores.

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Volume Vs. Sentiment Share Gap Analysis

How to use this report:This report shows how much different brands lag or lead with either positive or negative buzz. Ideally brands would want higher share of positive buzz and lower share of negative buzz. With this as the goal, this report helps in quickly identifying gaps in their perceived positive and negative sentiment share in the social space.

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Top Topics by Brand

How to use this report:A very interesting graph and equally revealing too! This report shows what topics are generating most buzz in the social space for different brands. Comparing specific topics against key competitors help brands in refining their positioning, and develop data-driven campaigns targeted in closing any gaps. Additional topics and sub topics can be added based on the initial analysis and the business need.

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Top Websites and MOZ RanksWebsite MOZ Rank Volume Domain Authority Sentiment Balance

How to use this report:Reviews from people can be found everywhere in the internet. The key is to quickly get to authoritative websites in specific topics that are relevant for your business. Use this report to find top websites with high influence and traffic, and their sentiment balance. Look for those with higher buzz and higher MOZ Ranks, drop sites that may not be 100% relevant to your needs and firm up your list as you make progress.

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Top Influencers and Klout ScoresInfluencer Klout Score Volume Kred Influence Amplification Sentiment Balance

How to use this report:VOZIQ helps you in finding opinion leaders and the extent they influence people’s views about any general topic or a specific niche, to improve your brand image and competitive positioning. First we scan the posts and articles by various authors, and then inspect their Klout, Kred and Peer Index scores to get to top influencers in any topic. Follow similar process as websites by picking the combination that works best for you.

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DETAILED REPORTS

VOLUME DRIVERS AND SENTIMENT SHARE BY TOPIC FOR EACH BRAND

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GSK Insight Scorecard

Volume Drivers & Top Positive and Negative Topics

Overall Sentiment & Sentiment Balance by Category

Positive and Negative Notable Mentions

@MJDavies90 55 Hour weeks and Stressful haha No way, no time for it at all! Hows GSK?Youre in high demand! New jobs @ PRA IPSEN GE Boehringer MedImmune WarnerChilcott GSK AstraZeneca Agilent Novartis #pharma #biotech #device@evie_ds yeahh dont work in a lab! You could become a big business woman in like a bio company like Gsk or somthing!

GlaxoSmithKline in deal with MD Anderson on cancer drugs - Yahoo! News http://t.co/wWkqWF2z via @YahooNews$GSK- http://t.co/DXoR38FJ Launches as Comprehensive New Resource to Help Smokers Quit and Stay Smoke-Free!@alicejonesy just LOreal, got rejected by gsk so technically only applied to two haha! Better do loads tomorrow x

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Pfizer Insight Scorecard




Pfizer boosts quarterly dividend to 24 cents: http://t.co/6MB93K3A (KSL) Smoking cessation drugs must be REALLY popular right now!I simply love my @Daily eHealth Alert> Just look at todays story headlined "Pfizer CEOto testify in Champix trial! YES, were getting there?Dedicated runners braving the rain at #jinglebellrun @jbrseattle Stop by our booth #thehemline #Pfizer ! (client) http://t.co/tzMfdIEU

$CYRX hell of a story for this penny play, deal with Pfizer Animal Health Unit!@Robbiesmit8 @mindbiowingfact They need to bottle that shit! Put Pfizer out of business.Pfizer Premarin mares and foalsthis drug is killing out horses! It must be stopped! Buy Buy Buy... Buy premarin Online> http://t.co/rDOTM4aa

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Novartis Insight Scorecard




Youre in high demand! New jobs @ PRA IPSEN GE Boehringer MedImmune WarnerChilcott GSK AstraZeneca Agilent Novartis #pharma #biotech #deviceMore congratulations - this time to Stephen Calabrese of Novartis! He was selected at random to receive a... http://t.co/y5er6PmaWoohooo! Tell all your friends! @Novartis Canada is returning as the Cycle for Sight 2013 Presenting Sponsor!

RT @RobSchneider: Canada, Italy, Germany, Austria, Spain, Switzerland & France all banned the Flu Shot by Novartis! But in the U.S. you canI just ousted @arodini as the mayor of Novartis on @foursquare! http://t.co/XF80IIwXI just ousted @jdcrouch1972 as the mayor of Novartis CAA/BAC Building on @foursquare! http://t.co/Hpcs5in0

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Roche Insight Scorecard




@CatherineFaboo its like the most fabulous way to say Roche!Super happy day! Nice meeting you Miguel Gallo Roche?#skynews #murngahan Thank you PMQs Camera for locating Ivette Think in a smart suit Roche Tamiflu http://t.co/a87aoDxV H Influenzae Sniffy!

RT @EbhoniOGarro: why are me and Roche so rude to each other !!why are me and Roche so rude to each other !!Iorveth or Roche? Ahhhhhh Im so indecisive!!! #witcher2 #decisionsdecisions #gamerprobs

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Merck Insight Scorecard




@MrStemCell yep...LX4211 highly differentiated. Merck??Carcinoid results 2013. If the POC P2 for IBS-d is successful (big if) watch out!Friend in search of a Merck pharmaceutical rep! Let me know if you know one so I can pass it on!@ianchant Never has kill it with fire been more aptly used than in this very instance. MERCK THAT SHIT UP.

Merck, Roche and Sanofi to test drug that aims to make cancer self-destruct!! http://t.co/l9vlGeZ5Merck KGaA, Oncothyreon hit as cancer vaccine fails - Yahoo! News http://t.co/01fPJQ2L via @YahooNewsMerck KGaA, Oncothyreon hit as cancer vaccine fails -- @globol10 !! http://t.co/zgiQ0DiC

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Contact us for additional information or to schedule a demo

VOZIQ (http://voziq.com) provides social media analytics solutions & services to support market research, develop strategic insights and improve business performance using voice of customers and influencers.

Phone: 1-888-427-2328 email: [email protected]

Improving marketing effectiveness with social media analytics in pharmaceutical industry

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