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Social and Consumer Listening Tools: Your Customers Are Talking… Are You Listening?June 25th 2014
Webinar Series
© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
About Your Presenters
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Benjamin RymzoManaging Director
Jonathan McEuenTechnology Incubation LeadRelevant 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
© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
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
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What Is Social Listening?
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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
© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
What Questions Should (Or Shouldn’t) Be Supported With Social Listening Tools
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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?
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?
Strong Fit
Significant Limitations (Representative Examples)
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Combining Social Listening With Traditional Tools For A More Comprehensive Perspective
AcademicLiterature
QuantitativeMarket
Research
KOLInsights
FinancialData
VendorData
MarketProxies
Traditional Business
Insight
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Combining Social Listening With Traditional Tools For A More Comprehensive Perspective
MediaSentiment
AcademicLiterature
QuantitativeMarket
Research
SearchTrends
KOLInsights
ConsumerSentiment
FinancialData
VendorData
MarketProxies
User Influence,Sharing
OnlineTrafficData
Customer & Consumer
Engagement
Traditional Business
Insight
Rapid Social Feedback(Twitter)
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Combining Social Listening With Traditional Tools For A More Comprehensive Perspective
MediaSentiment
AcademicLiterature
QuantitativeMarket
Research
Rapid Social Feedback(Twitter)
SearchTrends
KOLInsights
ConsumerSentiment
FinancialData
VendorData
MarketProxies
360˚PERSPECTIVE
User Influence,Sharing
OnlineTrafficData
Customer & Consumer
Engagement
© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
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
Broad data, raw & unstructured
Low acquisition cost
Resource intensive analysis Cross-channels insight
Provides rapid feedback from broad population
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Traditional Business Insight Tools
Social Listening And Analytics
© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
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
Less Emphasis On Tools That Listen To Organic Conversations
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
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 recommendations10
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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
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How To Develop A Social Listening Assessment
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© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
How Does Social Listening Actually Work
Real-Time Social
User Blogs
Discussion Forums
Search Trends
User Blogs
Blogger (Google) Tumblr Wordpress Many more
Discussion Forums
Inspire Reddit Quora DailyStrength MedHelp Many more
Search Trends
Google Bing Yahoo
Real-Time Social
Twitter Facebook
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Real-Time Social
User Blogs
Discussion Forums
Search Trends
How Does Social Listening Actually Work
Integrated, Normalized Project Database
CustomizedSearch Rules
Customized Analytics
NormalizationAcross Channels
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© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
Real-Time Social
User Blogs
Discussion Forums
Search Trends
How Does Social Listening Actually Work
Integrated, Normalized Project Database
EcosystemMap
Key Trends,Themes, Risk
SentimentAnalysis ROI Tracking
Customized Analytics
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Social Listening Capabilities: Defining Commonly Used Analyses
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EcosystemMap
Key Trends,Themes, Risk
SentimentAnalysis
ROI Tracking
Segment conversation by user type, calculates interactivity and concentration of community
Quantify influence to prioritize stakeholders
Track themes in online community – including risk, safety, news, product–related discussions
Generally available for client and competing products
Monitor positivity/negativity related to terms and topics, and which features are most/least popular
Target outreach, competitive positioning
Monitor uptake of DTC, data releases, press Segment-specific, suitable for discrete or long-term
analysis
Top influencers by segment User resonance Community concentration Leader/follower
Key topics by segment Flag terms, risk concepts Linked topics
Polarization Overall sentiment Key positive/negative
themes
Content Virality Content CLV Impressions, reach
Features Analyzed Common Outputs
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Case Studies And Applications
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© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
Case Study: Revealing Product Conversation Volume and Most Discussed Side Effects
Med
ia
Pt/A
dvo.
..
Inve
stor
Biop
h...
Cons
ul...
Rese
ar...
Inte
rnat
...
Doct
or
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
Term Seen In
Cannabis/Weed Condition X, Condition Y
Itching Drug X
Stomach Pain Drug X
Headache Drug A
What Complaints/Issues Do Patients Discuss?
18Source: Huron Analysis (3/2014)
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Sentiment By Product
Negative Positive
Drug X
Drug B
Drug A
Patie
nt
Inve
stor
Biop
harm
a
Doct
or
Indi
vidua
l
Med
ia
Inte
rnat
Rese
arch
er
Drug A Drug B Drug X
Sentiment By Segment
Case Study: Assessing Product Sentiment Among Competitors
Negative
Positive
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Question: Is our drug more or less positively-received by consumers, experts, and media outlets? Application: Sentiment analysis for 3 competing, marketed drugs
Source: Huron Analysis (3/2014)
© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.
Drug B Top TermsPUZZLESTARTKIDSADDMEDICINEDRUG H [CO-MEDICATION]YOUTHCONTROLLADIESDATERACE#SMHWEEKENDDRUG J [CO-MEDICATION]WONDERFUL
Drug A Top TermsPUSHBACKPRICEHURDLEDISCONNECTREJECTIONPUZZLESTRONGRESEARCHSTROKECOST-EFFECTIVEDISAPPOINTEDEXCELLENTRACEREIMBURSEMENTRELAPSESTWICE-A-DAYLADIESSUFFERPAINFULITCHINGNEEDLE
Drug X Top Terms PUZZLEMORNINGORALPILL
#SMHADVENTUREAFFECTSBEGINBITCONTROLCORRELATIONDRUGHEADACHERACESYMPTOMSYOUTH
Case Study: Real-time Listening For Consumer Priorities, Signs Of Adverse Events Across Products
Red TextDrug-specific terms Adverse event-related terms
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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
Source: Huron Analysis (3/2014)
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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: Researchers were most active; patients, advocates, were most positive; journals most negative Action: Engage individuals over groups/journals; target researchers directly over journal organizations
Positive Sentiment
Negative Sentiment
Source: Huron Analysis (1/2014)21
Science Researcher
Journalist Science Media
Community/Group
Journal Industry Government Patient/Advocate
Legal Clinician
(0.20)
(0.15)
(0.10)
(0.05)
-
0.05
0.10
0.15
0
10
20
30
40
50
60
70
80
Sentiment Average Series2
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Case Study: Graphing Network Influence Provides Snapshot Of Peer Groups, But Has Limitations
Sphere Color Unique peer community (Physicians)
Sphere Size Relative disease influence
Sphere Proximity Relationship strength
Source: Huron Analysis (3/2014)22
Strengths: Mapping share of mind Defining communities to target Predict spread of influence over timeLimitations: Information decays quickly, such that
retrospective analysis may have less value
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% Top Accounts Reached
Conversation Volume
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?
Input events Output activities/tactics
Key
Even
tsEn
gage
men
t 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
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Summary: Social Listening Offers New Customer Perspective, With The Right Analysis
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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)
What do you want to know?
Analyses Selection
How to act on new insight?
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Thank You
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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: [email protected] Benjamin Rymzo [email protected]