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Social and Consumer Listening Tools: Your Customers Are Talking… Are You Listening?

Webinar Series. Social and Consumer Listening Tools: Your Customers Are Talking… Are You Listening? June 25 th 2014. About Your Presenters. Jonathan McEuen Technology Incubation Lead. Benjamin Rymzo Managing Director. Relevant experience:

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Social and Consumer Listening Tools: Your Customers Are Talking… Are You Listening?

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  1. Webinar Series Social and Consumer Listening Tools: Your Customers Are Talking… Are You Listening? June 25th 2014

  2. About Your Presenters • Jonathan McEuen • Technology Incubation Lead • Benjamin Rymzo • Managing Director Relevant experience: • Developed new Huron social listening technology (launched 2Q 2014 • Implemented multiple analytics and software solutions in the life science industry: • Social analytics (sentiment, positioning, network dynamics) • Predictive models in marketing speaker series • Influence mapping and KOL quantification • Brought two health IT / analytics products to market, focusing on rapid customer engagement, expert mapping Education • MBA, The Wharton School • PhD, University of Pennsylvania • BS, Massachusetts Institute of Technology Relevant experience: • Led development of customized bibliometric analytics tool to identify emerging molecular pathways • Refined social listening analytics to map and quantify industry conference participant sentiment, identify and quantify relative interest by conference topic, drug, and company (co-author of paper on subject) • Led multi-attribute, multi-geography clinical KOL influence mapping analytics covering 5000+ global HCP influencers across multiple TAs Education • MBA, Stern School of Business, New York University • BA, Cornell University

  3. Today’s Objectives • Define “Social Listening” • Provide Select Strengths And Limitations Of Social Listening Approach • Outline Current State of Social Tactics In Life Sciences • Discuss typical business questions supported by Social Listening • Highlight regulatory environment, current state of activity • How To Develop A Social Listening Capability • Describe how social listening technology actually works • Provide a framework for designing social listening campaigns • Share Sample Data Outputs / Use Cases

  4. What Is Social Listening? Technically: A set of technology tools that to track internet dialogue taking place on social media networks (i.e. Facebook, Twitter, Patient forums, blogs, etc.) Analytically: Models and algorithms that reveal the interests and values of individuals and groups discussing a specific issue online Strategically: A capability to rapidly identify emerging trends in different groups and customer segments

  5. What Questions Should (Or Shouldn’t) Be Supported With Social Listening Tools Strong Fit • Who is discussing my product/TA/MOA? How is this changing over time? • Who is most influential in the community? • How positively do consumers view my product vs competitors, now and over time? • What current hurdles do patients face in treatment? • What products got the most buzz at a conference? Why? • Which product characteristics are patients talking about? Which drive the most positive / negative sentiment ? • What are the most effective community outreach tactics in a therapeutic area? Significant Limitations (Representative Examples) • What is the full spectrum of provider opinions on a topic? • What percent of patients think about a specific topic, in a particular way? • Where geographically are patients facing the greatest hurdles?

  6. Combining Social Listening With Traditional Tools For A More Comprehensive Perspective Financial Data KOL Insights Traditional Business Insight Vendor Data Academic Literature Quantitative Market Research Market Proxies

  7. Combining Social Listening With Traditional Tools For A More Comprehensive Perspective Consumer Sentiment Online Traffic Data Financial Data KOL Insights Search Trends Rapid Social Feedback (Twitter) Traditional Business Insight Media Sentiment Vendor Data Academic Literature Quantitative Market Research Customer & Consumer Engagement Market Proxies User Influence, Sharing

  8. Combining Social Listening With Traditional Tools For A More Comprehensive Perspective Consumer Sentiment Online Traffic Data Financial Data KOL Insights Search Trends Rapid Social Feedback (Twitter) 360˚ PERSPECTIVE Media Sentiment Vendor Data Academic Literature Quantitative Market Research Customer & Consumer Engagement Market Proxies User Influence, Sharing

  9. Social Listening Provides Unique Insights To Complement Existing Capabilities, Resources • Granular data, highly structured • High cost of acquisition • Resource-intensive curation • Channel-specialized, many gaps • Struggles to provide immediate customer,end-user insight Traditional Business Insight Tools Social Listening And Analytics • Broad data, raw & unstructured • Low acquisition cost • Resource intensiveanalysis • Cross-channels insight • Provides rapid feedback from broad population

  10. Oversight Is Evolving To Cover Online Activity, With Little Emphasis On Listening • FDA has released interim, partial guidance covering promotional social media activity, with focus on conversation from industry to customers • Must document restricted sites with screen-captures • Covers owned/funded sites and non-funded, but supported sites • Select CIAs may require additional monitoring • Independent user-generated content not included in reporting • Less Emphasis On Tools That Listen To Organic Conversations • Uncertainty regarding responsibility of companies to report/act on AE’s observed in public forum • Reportable events must include the following 4 features: • Identifiable patient, identifiable reporter (including contact information), specific AE, specific brand or molecule • Research suggests as few as 0.1 - 0.2% of all social messages mention all 4 required categories defining a “reportable” AE by FDA guidance Note – this document not to be construed as legal recommendations

  11. Life Science Industry Must Come To Terms With Increased Social Activity Among Patients • Social channels are increasingly observed by regulators • Online discussion of clinical trials is common, which can affect reporting and create erroneous signals in reporting • Additionally, online influencers can drive media coverage and tone, even if not experienced treaters/clinical experts • Without comprehensive monitoring, life science companies cannot identify these effects and confounds • However, < 20% of Pharma companies have complete social media tactics for the largest online channels (Facebook, Twitter, Google) – Forbes, 1/2014

  12. How To Develop A Social Listening Assessment 12

  13. How Does Social Listening Actually Work Real-Time Social User Blogs Discussion Forums Search Trends Real-Time Social User Blogs Discussion Forums Search Trends • Twitter • Facebook • Blogger (Google) • Tumblr • Wordpress • Many more • Inspire • Reddit • Quora • DailyStrength • MedHelp • Many more • Google • Bing • Yahoo

  14. How Does Social Listening Actually Work Real-Time Social User Blogs Discussion Forums Search Trends Customized Search Rules Normalization Across Channels Integrated, Normalized Project Database Customized Analytics

  15. How Does Social Listening Actually Work Real-Time Social User Blogs Discussion Forums Search Trends Integrated, Normalized Project Database Customized Analytics Ecosystem Map Key Trends, Themes, Risk Sentiment Analysis ROI Tracking

  16. Social Listening Capabilities: Defining Commonly Used Analyses Features Analyzed Common Outputs • Segment conversation by user type, calculates interactivity and concentration of community • Quantify influence to prioritize stakeholders • Top influencers by segment • User resonance • Community concentration • Leader/follower Ecosystem Map • Track themes in online community – including risk, safety, news, product–related discussions • Generally available for client and competing products • Key topics by segment • Flag terms, risk concepts • Linked topics Key Trends, Themes, Risk • Polarization • Overall sentiment • Key positive/negative themes • Monitor positivity/negativity related to terms and topics, and which features are most/least popular • Target outreach, competitive positioning Sentiment Analysis • Content Virality • Content CLV • Impressions, reach • Monitor uptake of DTC, data releases, press • Segment-specific, suitable for discrete or long-term analysis ROI Tracking

  17. Case Studies And Applications 17

  18. Case Study: Revealing Product Conversation Volume and Most Discussed Side Effects Who Is Talking About Our Drug? • Question: Who is discussing our drug? Our competitors? • Analysis: Test on 3 competing compounds, using single social channel • Sample Outputs: • Patients actively contribute to conversation • Signals of patient self-medication and side effects emerge for specific products even within short time frame • Potential Actions: • Evaluate grant allocation, marketing tactics/plan to address early signals • Consider further monitoring of potential AE’s, evaluate potential reporting action What Complaints/Issues Do Patients Discuss? Source: Huron Analysis (3/2014)

  19. Case Study: Assessing Product Sentiment Among Competitors • Question: Is our drug more or less positively-received by consumers, experts, and media outlets? • Application: Sentiment analysis for 3 competing, marketed drugs Sentiment By Product Sentiment By Segment Negative Positive Positive Drug A Drug B Drug X Negative Source: Huron Analysis (3/2014)

  20. Case Study: Real-time Listening For Consumer Priorities, Signs Of Adverse Events Across Products • Question: What are the top priorities, and relevant risks, that people discuss among competing drugs? • Application: Real-time listening to conversation surrounding 3 competing, marketed drugs Drug-specific terms Adverse event-related terms Red Text Source: Huron Analysis (3/2014)

  21. Case Study: Segmenting Sentiment Supports Better Customer Targeting, Engagement • Question: How do different influential stakeholders view our product? • Application: Single week analysis on Twitter • Findings: Researcherswere most active; patients, advocates, were most positive; journals most negative • Action: Engage individuals over groups/journals; target researchersdirectly over journal organizations Positive Sentiment Negative Sentiment Source: Huron Analysis (1/2014)

  22. Case Study: Graphing Network Influence Provides Snapshot Of Peer Groups, But Has Limitations • Strengths: • Mapping share of mind • Defining communities to target • Predict spread of influence over time • Limitations: • Information decays quickly, such that retrospective analysis may have less value Source: Huron Analysis (3/2014)

  23. Application: Linking Social Activity To Client Tactics Reveals Impact Of Customer Outreach Question: How can we use social media to measure ROI on consumer outreach? Key Events • Provide metrics on: • Most effective outreach tactics for each customer segment • Number of key influencers reached by each tactic • Life value, duration of effect for different outreach tactics • Optimization of outreach based on specific goals Engagement Input events Output activities/tactics

  24. Summary: Social Listening Offers New Customer Perspective, With The Right Analysis • What do you want to know? Analyses Selection How to act on new insight? • Pain points and patient journey • How are patients and providers addressing unmet needs today? • How is news of our products perceived, shared by different groups? _______________ • How does our product compare to peers? • What are the loudest community voices? • Condition-specific trend identification • Keyword-based forum and blog analytics, bibliometric analysis_ • User segmentation, sentiment analysis, social conference coverage _____ • Sentiment analysis, key theme comparison • Influence mapping, tracked over time • Patient support programs, refine messaging, refine product valuation • Adapt messaging based on real-world insight, identify spread of new trends • Continually adapt messaging based on response; invest in messaging received positively _______________ • Emphasize strengths, differentiation in messaging • Consider direct influencer outreach (providers, media)

  25. Thank You Request Full Demonstration Of Capabilities, Including Sample Dataset Contact Huron Consulting Group To Learn More About How Social Listening Tools May Fit Your Needs • Jonathan McEuen: jmceuen@huronconsultinggroup.com • Benjamin Rymzo brymzo@huronconsultinggroup.com

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