Many pharma brand managers are asking – what is the value of using social media market research versus traditional market research to gain insights into my customer base?
There is undeniably a lot you can gain from focus groups, interviews and surveys. However, it is important to remember that adding social media market research is a dynamic way to enhance your strategic insights.
Here are 5 reasons why social media market research should be part of your strategy:
1) If you want a true, honest and emotional look at what is being said about your brand, competitor brands or your therapy area then listen in on social media conversation. This is a place where healthcare professionals interact without the “unnatural” setting of a focus group. It’s as close to unbiased as you can get.
2) Conversation in focus groups and interviews is led by the interviewer/group leader, online the conversation takes place organically. You are getting to see what is important to customers and what they are talking about among themselves without pharma’s interference.
3) Traditional market research can be a slow process. Social media monitoring shows you what’s being discussed in real time. It’s your way of having your finger firmly on the pulse. If a doctor is spreading incorrect information about your brand then you can correct them immediately. If you want to know the impact of your latest campaign, you can listen into the conversation and see what is being said.
4) You can listen to thousands of voices all at once. Creation PinPoint analyses conversations HCPs are having online and has a database of over 150,000 HCP manually verified social media profiles. How many focus groups would you need to organise to reach an audience that wide?
5) You can identify who your online KOLs are. You will be familiar with having a strategy to engage with your key opinion leaders but have you ever thought about who your online key opinion leaders are? Identifying them and having a suitable engagement strategy can be just as important.
If you would like to know more on how doctors are using social media and the benefits of listening to them as part of your market research strategy please contact us.
Get in touch to find out how HCP insights can impact your brand marketing, product development, clinical trial deployment and more.
