Wednesday, February 10, 2010

ePharma Summit 2010: Use Online Video & Social Media to Drive Measurable Return

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Kevin Nalty, Founder, Nalts Consulting

The search bar is one of the highest looked at items. So when you properly engage your audience through this unit. So what can videos be used for other than commercials?

Metrix of Online Video and Social Media
-The notion that a Pharma ad will be viral is highly unlikely.
-It’s very difficult to track the ROI, but you can see: the business impact, satiating a VP’s desire, and an internal win.
-Be sure to keep social media spending low until you find out if it works for your company
-Avoid calling it “social media” and look at it as advertising, and look to turn off comments and direct messages. Then it’s the same as a product advertisement

How markers sees social media: a tropical beach where there’s a great place to join a party.
How regulatory and legal see social media: a shark attack about to happen.

What does social media matter for?
-Getting their attention
-Engaging them
-Earning their trust
-Answering their questions
-Acknowledging needs and concern
-Exciting them about their solution
-Inspiring trail (Patients won’t ask for medicines by name)
-Setting their expectation

Myth: If Pharma keeps themselves out of new media, they are safe. But people are out there talking about you on the internet. We need to set our own guidelines on how Pharma can use social media.

Three ways for social media:
-Be Hands off – have a 3rd party create robust tools for your products or use rich media ads
-Patients are within reach – some patients are online stars, and have greater reach than network tv
-Unbranded video/content can be leveraged, as you reel them in and they gain awareness of your products.
-Be sure to keep your cost down
-Make your things interesting to bring in views

With social media, the marketer becomes publisher. The viral concept of video is dead. It’s been years since great commercials have been viral. The things that are viral now are other things. People don’t mind it’s a sponsored video, they care whether or not it’s entertaining.
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