What does the death of the Yankees’ owner have to do with biotech and entrepreneurship? It has to do with attitude. Steinbrenner was obsessed with winning. He famously said,
“Winning is the most important thing in my life, after breathing. Breathing first, winning next.”
And,
“You show me a good loser—and I’ll show you a loser.”
(Which incidentally, is also attributed to Vince Lombardi. Shout out to Jim Chinitz for the quote and reminding me to write this.)
If you have any interest in applying social media to your company (or yourself), you must read Mashable.com, an essential resource for social media marketing. Mashabable ran a feature titled, 10 Essential Social Media Tips for B2B Marketers. I thought it was worthwhile to revisit them and make some comments. I’ve rearranged the tips in what I consider their order of importance to life sciences and biotechnology companies.
1. Monitor Your Industry. Author Christina Warren suggests using Google Alerts, Social Mention, YackTrack or BackType to monitor mentions of your business on social sites. I put this first, because you need to have an understanding of what your audience is saying about you, the industry before you start any conversations.
2. Find and Follow Industry Influencers. Whether you’re on Twitter, LinkedIn or Facebook, you’ll want to identify leaders and influencers in the industry. I recommend doing this before any of the steps that follow.
3. Start a Blog. While this is a no-brainer outside the life sciences and in pharma, there is still a lot of hesitance, especially in companies that have FDA-regulated products. It does take time and requires writing skills. A few week’s back, I blogged about Mary Canady’s article on social media in the life sciences. In that article, she mentioned MO-BIO Laboratories, a small company that runs a blog perfectly targeted toward its audience. Definitely worth taking a look at. Since most people won’t take the time to write a full-fledged blog, at least start micro-blogging on Twitter.
4. Use Twitter Effectively. Mashable’s suggestion is to start Twitter by ’searching phrases relevant to your business and monitoring those searches regularly…’, which is 1 above. Once you understand what people are saying, then join the conversation.
5. Take Advantage of LinkedIn. I am a huge LinkedIn user (16K network) and have easily sold several consulting engagements using that network. One way to build business leads and get well known is to use LinkedIn Groups and to participate.
6. Figure Out Your ‘Social Voice.’ One thing that marketers say social media can do for pharmaceutical (and any other large) corporations is put the ‘human’ back in business. Warren reminds you that your social voice is informal and responds to customers and inquiries. Your brand voice is more anonymous. I suspect that in the not too distant future, the social voice will become brand voice.
7. Be Consistent and Don’t be Afraid to Followup. Consistency means blogging or tweeting regularly. For some that will mean once per day, for others, once per week. Following up means you don’t leave anyone hanging. You respond and acknowledge.
8. Leverage Analytics for Business Metric Measurement. This means paying attention to your traffic numbers, understanding where traffic is coming from, what traffic is responding to and changing your habits accordingly.
There were two tips that I didn’t think applied to most life sciences and biotechnology companies – 9. Use Social Media for Giveaways and Promos and 10. Don’t be Creepy. The latter goes without saying; the former might make sense for companie that produce a lot of product and use samples as part of their marketing.
So there you have it, 10 tips you can leverage today for your social media marketing program. If you have any questions, drop me a line.
Yesterday, I had the pleasure of attending the Keiretsu Forum’s Life Science Forum. This invitation-only event resembled UltraLightStartups in that it allowed each company to present for 20 minutes (an eternity! ULS gives you ONE MINUTE!), then the entrepreneurs left the room while the investors discussed the pros and cons of the company.
In general, the presentations were interesting, but sadly, no one presenter blew me away, but if I were investing, there were three companies I *might* consider:
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Aesthetic Factors, which has developed a proprietary product for facial aesthetic treatment. The product, market and team were stellar. My hesitation there is around intellectual property.
Immunomic Therapeutics, which has developed a proprietary vaccine technology platform, which they’re applying to the allergy immunotherapy market. Stellar team with a fantastic track record.
Makefield Therapeutics which has two late-stage pre-clinical products based on a nanotech delivery platform. Again, a stellar team.
There were a number of presenters that really wasted their 20 minutes, using too many charts, financial statements, and scientific diagrams (boring!). Plus, a few just didn’t have the answers the investors were looking to have answered. Bad preparation does not an investment gain.
But there was one tremendous development: Here’s something I’ve been recommending and finally saw an early-stage biotech company using Twitter! Dr. Bill Hearl, C.E.O. of Immnomix and a serial entrepreneur himself, said he tweets as @immunomix. He admitted it during the presentation and encouraged the investors to follow him. In conversation with him after the meeting, he told me he tries to Tweet at least weekly, hasn’t yet attracted the investors on Twitter, but he knows it’s worthwhile and has incorporated tweeting into his weekly routine.
This isn’t a big deal to those of us who blog and tweet on a daily basis, but after going to countless emerging biotech events, it’s nice to start to see a company doing this.
Kudos Dr. Hearl!
Pixels and Pills posted a great guide to Facebook on their site yesterday. The graphic alone is worth the click over. Puts Facebook in historical perspective.
This is Part 2 of my interview with Steve Woodruff of Impactiviti. For Part 1, click here.
SCHMIEDER:At the end of last year, the FDA had their meeting on social media, yet they didn’t issue guidelines and it seems like those guidelines will be a long time in coming. How does that play into pharma’s use of social media? What will happen to the product-sponsored patient communities when the FDA finally makes a decision on this stuff?
WOODRUFF: Communities sponsored by an organization – versus a product – will be safe. I’m not worried about those. I’m also not worried about general corporate communications on a blog.
The dicey stuff has to do with discussions of a product and clinical treatment with a product. That’s going to be a challenge. I don’t envy the FDA’s job trying to walk this tightrope. I think the FDA would do very well to provide high-level guidelines on the most general aspects of social media. They can’t regulate what you should and should not do with Twitter, Facebook, or blogs because the technology and the platforms change rapidly all the time. Many pharma companies are only going to keep their toes in the water until more formal guidelines are issued.
Many companies, though, are not waiting. We have the basic and general guidelines for marketing communication and most companies are doing their best to operate responsibly within those guidelines. If they get their hands slapped by the FDA, it will be because they’re trying to push the envelope. I applaud every one of those innovative and responsible efforts. That’s how we learn.
SCHMIEDER: What are examples of pharmacos pushing the envelope successfully?
WOODRUFF: Johnson & Johnson has a very good example of the corporate blog. They sponsor ADHD Moms on Facebook and have built a nice following. Their “Black Bag” iPhone app has done well. Johnson & Johnson tends to push the envelope (carefully) and I think they’ve done a really, really good job.
Novartis has launched CF Voice on Facebook and Twitter for the cystic fibrosis community. They use a fictional character named Christopher, based on interviews and research on people with CF. I’m not sure how that will work out for them, but I applaud them for trying this experiment. Not everybody will like it but that’s okay, you have got to try new approaches.
Pfizer was a little late in the game but they have a very dynamic guy, Ray Kerins, in charge of their communications now. They’ve become aggressive on Twitter, have done some interesting community projects, and a lot of internal corporate social medial projects. Their R&D wiki exploded. Pfizer also has a group blog for their scientist to talk to the public. So Pfizer’s doing some interesting stuff and I think they will continue to push the envelope as well in a responsible way.
Boehringer and Novartis have also done a very good job. Their Twitter presence is very approachable and human.
SCHMIEDER: What about the way pharma companies are communicating with physicians?
WOODRUFF: Traditionally, pharma’s primary target for communications was physicians. Right now, everybody’s trying to figure out the fact you can’t prevent the public from looking at content you’ve created for physicians. There’s a lot of information that pharma needs to provide doctors but it can be scary because of concerns around off-label discussions, adverse event reporting, and the appearance of selling prescription products directly to patients. It’s going to take years for this to get sorted out.
In the past, pharma has not been trusted because they have abused their communication privileges, selling off-label to the physician community, and to HMOs. I’m confident that it’ll eventually get figured out because there are so many ways that each pharma company can provide help and support directly to patient communities. We’ll get there, but I think it’s going to be an extended process.
SCHMIEDER: What about the gated communities that pharma has set up exclusively for doctors? For example, PfizerPro.
WOODRUFF: It’s a great idea to have the communities for doctors and as long as the communication is responsible and on message. Private communities like Sermo have company sponsors. The conversations that doctors would have had, would happen with or without company sponsorship, but this use of technology to help pharma disseminate information and start debates creates opportunities for doctors to share clinical knowledge, be better informed, and impact patient care.
There are enough issues and enough concerns about how pharma does one-way communication. There have been enough problems on both a direct-to-physician and direct-to-consumer level. The good news is that social media is a two-way street. Social media is about conversations and user-generated content as opposed to just one-way, top-down monolithic content.
Again, the biggest challenge for pharma is social media is not the way marketing communication has been done until now. Traditionally, pharma communications has been a one-way, highly controlled, and thoroughly vetted with little to no back and forth. Social media is where the world is going and that’s where the regulators and the pharma companies must figure out how to participate without a major meltdown
SCHMIEDER: Let’s talk about how a startup should be thinking about social media compared to big pharma.
WOODRUFF: That’s a great question. I recently helped a company with their social media strategy. This particular company is probably years away from having a commercial product. I was encouraged to see that they are weaving social media right into the fabric of the company from the get-go.
This is very smart because weaving social media into a young, growing, aggressive company can make internal communications more efficient. The silo mentality that is inherently a part of big companies can be prevented as the company grows. I’d encourage any early stage company to start looking at the effective use of social media in private communications with physicians, with advisors, with internal people and within R&D, so that when it’s time to become commercial, the idea of social media is not some weird add-on but a natural extension of how the company operates.
SCHMIEDER: That’s probably easier for startups run by younger people who are fluent in social media but what about established companies? Is there someone doing a notable job in social media?
WOODRUFF: One company doing a great good job in creating a public profile is Vertex Pharmaceuticals. Shwen Gwee is one of my closest social media friends. He’s heading up Vertex’s social media efforts. He’s involved in conferences and other social media initiatives. He ran a one day conference at South-by Southwest called South-by-South Health. (Here’s a link to Vertex’s Twitter guidelines.)
Vertex has made a very clear, very public commitment to social media. I think we’re going to see more companies waking up to the fact that, if nothing else, it is a competitive advantage to get their name out there, get their people out there, and make connections, and build that network.
SCHMIEDER: This has been tremendously informative and I appreciate your time Steve. Is there anything else you think I’ve missed that you want to add?
WOODRUFF: I’d like to see pharmaceutical companies embrace social media as an opportunity, not just, “here’s another channel to get more sales.” Here’s an opportunity to listen to people, to learn from what people are saying in the marketplace, and to be human again.
As I said before, the perception of the pharmaceutical industry by the public is negative. Yet you and I know the people in these companies are wonderful, fine, caring and smart people that have a lot to offer in the realm of healthcare. Social media provides the chance for pharma to take back the ability to be human, to be responsible and provide values outside of pills. Pharma has a tremendous opportunity to change the dialogue about the industry using social media tools.
SCHMIEDER: Thanks for your time Steve.
As I’ve written before, I’ve started a series interviews with entrepreneurs in the life sciences and biotechnology industries, and individuals doing great things in marketing and branding that could be applied to biotech, the life sciences and pharmaceutical companies. The following interview is with Steve Woodruff, founder and president of Impactiviti.
Steve has been very involved in reviewing and commenting on social media’s impact on the pharmaceutical industry. I thought my readers would greatly benefit from reading Steve’s point of view on social media and how big pharmaceutical companies have been incorporating it into their marketing mix.
What follows is Part 1 of our interview. I’ll publish Part 2 early next week.
STEVE WOODRUFF: I spent 10 years in sales and marketing of medical devices in radiation medicine. When the World Wide Web started appeared, I decided I wanted to be involved with interactive media, so I joined a company that provided software solutions for pharmaceutical companies. I spent 10 years in sales, marketing, business development and creating web-based enterprise applications. At the same time, I also started getting involved in social networking, with sites like LinkedIn and blogs.
After that time, I decided to start my own business. I launched Impactiviti with the goal of becoming the eHarmony of pharma training and marketing. Impactiviti creates partnerships with the best vendor companies, matching them to my pharma clients’ project needs. Impactiviti helps vendors stand out when they’re competing against several other providers and helps pharmaceutical companies pick the best vendor for a project. It’s a win-win for both parties.
Matchmaking is the heart of the business. I’ve been doing this for nearly four years and I have a blast putting people together, using the power of networking to make businesses work better.
KARL SCHMIEDER: You blog very actively. Tell us about your blog, the people it reaches and how that has helped you with business development and customer attraction.
WOODRUFF: I launched the business on the basis of Impactiviti, an industry blog, where I write articles of interest to for the pharmaceutical industry. I figured the best way to get my message across, add value to my community, and be part of their lives is to write things of value and bring information and resources to people.
With Impactiviti, my goal was to become the go-to person in pharma training and marketing. This blog was intended to play a central role in that effort and has become quite well known in the industry. The blog is well trafficked and I have more than 200 subscribers to my daily news post.
Six months ago later, I launched a second blog called StickyFigure, based on my interest in branding, marketing and social media. It reaches a more general marketing and social media community. I also run a personal blog, called Steve’s Leaves which has all kinds of other laruminations. Finally, I contribute to a group blog called MarketingProfs Daily Fix. That’s a lot of destinations, so visit SteveWoodruff.com to get the links to everything
Blogging has been essential to everything I do. It’s been a wonderful way to get to know smart and well-connected people who can help my clients in many different ways. In the end, the entire business model is built on connection-making and relationship-building through social media applied to pharma.
SCHMIEDER: How do you find the time to manage three blogs and your own business?
WOODRUFF: I’m wired to get up early because I used to deliver newspapers as a teenager. Now on most days, I get up before 5:30. The first six hours of the day are my most productive time for creating content, searching and linking resources, and making new connections.
SCHMIEDER: Let’s switch gears and talk about what you see happening with social media and pharma. You wrote an interesting piece in Ellen Hoenig Carlson’s eBook Best Strategic Learning Investment in 2010? Tell us what you see working in social media.
WOODRUFF: Social media is the latest marketing communication tool that is at the beginning of its adoption curve for the pharmaceutical industry. The first was eLearning for sales training, where people had their doubts. They asked, “How are we going to use this technology to disseminate our information? Is it going to be secure?” After a few years, eLearning was second nature. It reached the point where people stopped asking ‘if’ and started asking ‘how.’
With Web 1.0, it was the same thing: The same fears, the same adoption curve, the same tentative toe in the water. And finally, the same not ‘if’ but ‘how.’
Now, it’s the same thing for social media. It’s just another type of media, a marketing and communications platform. It’s not going away. It’s not something you can ignore. It’s here and you better understand it. So, now we are quickly moving from the ‘if’ to the ‘how’ with social media.
The early adopters, Johnson & Johnson, Novartis, Boehringer, and a few others have put their toes in the water with blogs. They’ve opened Twitter accounts. They have sponsored communities and have created Facebook pages. It reminds me of the beginning of the eLearning and the early Web 1.0 days. There have been a lot of the same question marks, particularly in the case of FDA regulations. But the fact remains, social media is ubiquitous and will continue to be more so. Pharma is not going to be able to ignore it or hold back.
Admittedly, social media is a double-edged sword for pharma because it makes an organization more transparent. It has been used to expose some of the unethical behaviors that have gone on behind closed doors. Some pharma folks fear social media because they know once you start turning on the lights, you might find skeletons in the closet you don’t want others to see.
SCHMIEDER: Pharma has historically been fast to adopt technologies that enable discovery and slow to adopt technologies that facilitate communication. You mentioned Johnson & Johnson, Novartis and Boehringer Ingelheim as early adopters. What have you seen that is working?
WOODRUFF: Some companies have gotten more interactive with their Twitter accounts. That’s encouraging because it’s humanizing the face of the corporation and that is one of the biggest benefits of social media for Big Pharma.
Big Pharma tends to have a bad reputation. It’s perceived as a monolithic beast. When you humanize your communication through social media, you can control the information better than any politician or journalist out to make you look like a monster. A blog, a Twitter account, or anything used to humanize the organization is great.
One of the best things a pharma company can do for its image is to give grants to organizations to create patient communities and allow the free flow of information, interaction and patient support. A lot more social interaction can happen on sites like that because they’re not brand-sponsored. A number of companies have begun to do that. I recently reviewed Novartis’ CF Voice site for cystic fibrosis on the Impactiviti blog and that is a tremendous way to provide value without getting into the landmines of product-specific information.
In addition, companies that are using channels like YouTube, where they talk about company history, tell stories of drug development, and collect testimonials from people whose lives have changed because of a treatment are doing something that man has been doing since the beginning of time – telling stories. And telling stories, humanizes the company. Every company should have a YouTube channel.
END PART ONE. STAY TUNED FOR PART TWO.


