The global pharmaceutical market is a $300 billion dollar industry, which is expected to grow to $400 billion in the next three years. The size and revenue of the industry has enabled pharmaceutical companies to make a significant impact on public health by partnering with community organizations and government agencies to launch non-product-related health initiatives. There are currently 2.1 billion people on social networks worldwide, thereby making it the preferred method for pharma companies to launch these health initiatives. Social media has provided pharma companies with the opportunity to connect with patients through online communities while simultaneously enhancing brand image and providing relevant health information to the public.
In the past, these companies have avoided social media due to the compliance risks associated with regulations set forth by the FDA, OIG, and HIPAA. However, due to the unmatched influence and reach of social media, companies are now switching gears to find compliance solutions, rather than disregarding the use of social media all together.
This year, we worked with a top ten global pharmaceutical company to enable the roll out of Facebook pages for a variety of health initiatives, including one focused exclusively on a women’s health community initiative. The primary goal of the Facebook community page was to promote sharing, encourage emotional support, and provide helpful tips and content for women experiencing similar health issues. As of today, this community page has almost 200,000 likes and each post has hundreds to thousands of likes, shares, and comments. Through social media, this pharmaceutical company created a global community that has connected and helped women across the world.
Health issues are sensitive topics that can be difficult to talk about, so the last thing patients within the community would want is to feel discouraged by people posting negative comments. A primary reason pharmaceutical companies need a compliance solution is to ensure a safe environment for patients. Using technology, companies can automatically, in real-time monitor and remove inappropriate or misleading comments.
Social media is generally used to promote a mainstream product or company therefore, it can be hard to make a case to invest in a Facebook page for drugs or health issues. Social media pages don’t always have to act as promotional tool, but rather can act as a way to bring similar patients together who are looking for a common support system. Social media is the best and most powerful platform to drive successful community health initiatives, as long as the proper compliance solution is in place. Pharmaceutical companies are finally beginning to realize that focusing on helping people, as opposed to simply selling drugs, can actually enhance their brand image and positively impact the business.
For more information on external social media pages for life sciences, click here.