Social Insights Showcases Opportunities for Pharma in APAC
The Asia Pacific pharmaceutical and healthcare market is the third-largest in the world with over $140 billion of revenue. It is projected to grow 9.1% annually from 2017 – 2021, according to a recent report from Digimind, which highlights where social insights could reveal opportunities. However, the pharma industry should be careful in taking a one-size-fits-all approach to these markets. Differing health systems and healthcare regulations, as well as uneven distribution of economic progress, make APAC a complex region. Further, cultural nuance is important when understanding the diverse communities and languages. What’s right in one market may not be for another market and care must be taken in understanding both the offline and online community. For example, in China, where Key Online Influencers (KOIs) across industries are increasingly used for activation or collaboration, the growth of the Water Army (水军) and the development of fake influencers are of concern to marketers.
Coronavirus Content Showcases How Digital Can Reach New Audiences
“No Masks” and “No Hand Gel” may be a sign of the times we live in as people seek to protect themselves from Coronavirus, but so is educating the public with humour as they do in Texas and culturally relevant content, such as this viral handwashing video from Vietnam. Educating on the platforms and channels that reach the right audience is crucial. While the WHO didn’t quite hit the right note with its message to the young global audience, its very presence on TikTok, a platform with over 800M active monthly users, is something to applaud.
Amongst the great advice on how to protect yourself, there is sadly misinformation as well, which has prompted companies to actively monitor their brand and intervene when misinformation could affect public health. This was seen with Tito’s Vodka, who worked hard to dispel the internet rumour that their product could be used to replace 60% hand sanitizing gel.
Virtual congresses may provide greater insight into HCP opinions
While social listening is a great way to understand Patients, Caregivers and HCPs across therapeutic areas, especially in rare diseases, HCPs make up the smallest percentage of the conversation volume. They contribute anywhere from 3-11% of the conversation depending upon the therapeutic area and about 60% of their content is re-sharing news, awareness generating info or events, without additional opinion or commentary. However, Medical Congresses serve as one of the richest sources of HCP insights as HCPs create 2x as much content as any other stakeholder and are vocal about their findings on presentations, clinical trials and studies shared. Whilst some events are being cancelled in the wake of Coronavirus, many events are considering going digital, e.g ASCO 2020, which could potentially provide even greater opportunities for insights.
New metrics available to measure your impact on social media
While we’re a fan of ConvoScore, which measures the impact and ROI of a pharma company’s campaign or medical congress participation, there is a new metric to help you measure your social success. The creators of the Healthcare Hashtag Project and the Hashtag Finder (great resources to understand the relevant social hashtags by therapeutic area) have launched the Healthcare Social Graph Score and made it publicly available. Healthcare stakeholders can now look up their own score and also see its development over time. While it won’t replace campaign tracking, social listening or brand trackers, it adds to the tools available to get a better view of a company’s impact in healthcare social media today.
Want to find out more about our global and multilingual social listening services? Contact us today.