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Social Networks for Life Sciences

Today, Deloitte Research released a new study on the use of social networks in the life sciences industry entitled, "To Friend or Not?"

Deloitte notes, "the industry thinks of social networks as marketing, similar to direct-to-consumer advertising; only more targeted. In reality, social networks are promising as tools that let the company collect information from, communicate to, and collaborate with people outside company walls."

Len Starnes echoed this sentiment in his recent article on Physician Engagement, and we are starting to see a shift in Pharma's mindset.  As I have said before, social media should not be treated as another marketing channel, but rather as a means to engage, collaborate and provide the information and services physicians and consumers require.

This study offers a number of other valuable insights, which you can view in its entirety here (PDF).  I've included a few highlights below:  

• Companies can take three approaches to social networks: (1) passively collecting information, (2) actively communicating by asking direct questions and pushing out information, or (3) collaborating to produce something of value.  In all three areas, social networks are adding replacement value over traditional tools and channels and incremental value through new processes and insights.

• 65 percent of surveyed life science professionals say their company is using or plans to use social networks in some capacity.

• Emerging brands are more likely to use or plan to use social media tools than mature brands.

• Most social media channels are still used by life science firms for traditional "push" marketing activities.  However, a growing number of companies are using platforms such as OzmosisESP to collaborate with their audience (see table below).

The report features a number of case studies, including one on Ozmosis that focuses on how social networks help life science companies facilitate peer-to-peer learning before and after a product launch.  This is one of many ways life science firms and other healthcare institutions are using the OzmosisESP platform, and we look forward to sharing many more in the months to come.

As Deloitte notes, life sciences companies with a product in development can use Ozmosis as a lower-cost way to facilitate employee, researcher, health care professional and key opinion leader discussion, training and educational programming.  Through Ozmosis, companies can drive enterprise collaboration and provider engagement in ways never before possible.