social and consumer listening tools: your customers are talking… are you listening?

© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential.

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

Webinar Series


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


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?

4

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


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)

© 2014 Huron Consulting Group. All Rights Reserved. Proprietary and Confidential. 6

Combining Social Listening With Traditional Tools For A More Comprehensive Perspective

AcademicLiterature

QuantitativeMarket

Research

KOLInsights

FinancialData

VendorData

MarketProxies

Traditional Business

Insight



MediaSentiment

AcademicLiterature

QuantitativeMarket

Research

SearchTrends

KOLInsights

ConsumerSentiment

FinancialData

VendorData

MarketProxies

User Influence,Sharing

OnlineTrafficData

Customer & Consumer

Engagement

Traditional Business

Insight

Rapid Social Feedback(Twitter)



MediaSentiment

AcademicLiterature

QuantitativeMarket

Research

Rapid Social Feedback(Twitter)

SearchTrends

KOLInsights

ConsumerSentiment

FinancialData

VendorData

MarketProxies

360˚PERSPECTIVE

User Influence,Sharing

OnlineTrafficData

Customer & Consumer

Engagement


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


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


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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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


Integrated, Normalized Project Database

CustomizedSearch Rules

Customized Analytics

NormalizationAcross Channels

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Real-Time Social

User Blogs

Discussion Forums

Search Trends


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


Case Studies And Applications

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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)


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)


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)


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


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


% 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?


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]

social and consumer listening tools: your customers are talking… are you listening?

Documents

social listening campaigns

social listening tools5who

social analytics sentiment

social media networks

powerpoint presentation

huron consulting group

multiple analytics

analytics products