Social and Consumer Listening Tools: Your Customers Are Talking, Are You Listening?
Benjamin Rymzo, Jonathan McEuen
Increased complexity in the customer landscape, greater pressures on costs and growing competition for mindshare have heightened the need for deeper consumer insight, including a deeper understanding of the individual patient or physician. Social media and online public forums represent a rich, real-time source of insights which can inform strategic positioning, market sentiment and preferences, and competitive intelligence.
As these social channels mature and achieve large-scale adoption, there is also growing business risk to ignoring social discussions, as they can both anticipate business risks and reverberate to create material commercial impact if not understood and addressed.
Huron experts, Jon McEuen and Ben Rymzo, take you through a 30-minute session on the benefits and key success factors of implementing a social monitoring tool in the life sciences industry.
- Social listening and analytics are valuable supplementary tools for understanding customer values, perceptions and opinions
- These capabilities are most valuable when used in tandem with, rather than as a replacement for traditional research techniques and data
- Though potentially powerful, social listening techniques also have distinct limitations, requiring careful selection of the right source material matched to the right analytics
- Social listening can provide many types of insight, including: evaluating competitive product positioning, assessing conversation sentiment related to products, initiatives or campaigns, identifying patient concerns, and identifying key influencers now and over time
- Social media analysis, traditionally applied retrospectively, is also valuable for forward-looking longitudinal analysis, and can be useful in tracking ROI and impact of customer-focused communication and other marketplace events
- Each choice about a social listening exercise (such as which content to include, what analyses to run) should be based on the fundamental business question being asked, to ensure that the outputs provide valuable insights from data, rather than simply data alone