Daily Archives: February 22, 2013

Is There a Role for Social Media in Life Science companies?

Social Media in the Pharmaceutical SectorSocial media has had a rapid and successful adoption by companies in a number of sectors including telecoms, travel, entertainment, and not stating the obvious, IT and marketing. Its uses span rapid and real time customer service, competitive intelligence to enhance the consumer’s experience and brand awareness and activation. However, many business leaders wonder where the value lies in its use in the pharmaceutical, healthcare or similar scientifically based companies. A lot of people view it as frivolous and potentially damaging to their company’s reputation to be involved in such ‘social practices’. Furthermore, many fear the risks that may ensue from the open and uncontrolled communication between patient, healthcare provider and manufacturer which the platform could facilitate. In a highly regulated and controlled environment, which many pharmaceutical and life science companies operate in, such unregulated activities may seem terrifying.