The challenge: How to find actionable insights in an information overload
COVID-19-imposed restrictions to travel and in-person conference attendance have caused an increased shift to online communications, including social media, both for brands and physicians.
Most BioPharma companies have started actively utilizing social media platforms to broadcast their messages to increase customer and brand engagement. We anticipate that this trend is here to stay and will continue to grow in the foreseeable future.
With users creating and sharing more online content than ever, companies find it difficult to identify and monitor the key relevant information to develop actionable insights. The migraine space is a topic that has attracted interest in Twitter in 2020. However, finding your way with large datasets can be challenging without support.
Traditional social listening tools do not always offer solutions because their reporting features have limited capabilities. While they generate large datasets, they do not generate insights offering clarity on “what really matters”.
The action: Fast, cost-efficient social media competitive intelligence process that delivers timely, relevant, actionable insights.
In order to analyze company social media activity in the migraine space tweets, we took the traditional approach employed by market / competitive intelligence firms and strategically identified the right people, places, and times to collect information and intelligence. Then we applied it to our social listening approach.
Our team created an improved social media competitive intelligence process. This process helps clients cut through the noise, avoid the clutter, and come to valuable insights faster and cost-effectively.
While engaging with our clients and developing new insights’ generation tools, we actively monitor popular social media platforms to identify online “leading voices” (also known as “digital opinion leaders”) and BioPharma companies with active social media presence.
By collecting and analyzing targeted datasets, we generate reports providing to clients insights on messaging, competitor online activity, developing trends, KOL thinking, etc., across therapy areas.
At the same time, leveraging our internal database, which contains historical data, we finetune and better streamline future research options and approaches. We know exactly where to look for the key information our clients are after, rather than “reinventing” the wheel with broad (and more costly!) research.
The result: Actionable Twitter insights on migraine space.
Analyzing tweets to gain insights into migraine space in 2020, we identified companies with a robust social media presence and companies that should take further action.
A company’s social media presence, product launches, and strategic decision-making will be different when supported by actionable insights. LucidQuest helps companies get the most out of social media analysis. Reports can be deep dives or broader tracker programs, either standalone or as part of larger engagements. Ultimately, timely, relevant, actionable, and cost-effective insights will help any company make informed decisions.
Comparative graph of volume of migraine-related Twitter posts by company
Company activity on Twitter around key events during 2020
- Elli Lilly has been very active throughout 2020 (except April). Apart from its US/Global account, Eli Lilly Italy and Eli Lilly EU had an active presence.
- Biohaven (now part of Pfizer) has been consistently active throughout 2020. Its Nurtec Twitter account has been actively used as a customer support channel addressing users’ complaints or problems and offering solutions.
- Teva has been moderately active throughout 2020, with six months with no activity and six months with high activity. A more consistent social media presence could benefit the company and improve engagement.
- Abbvie demonstrated low activity that took place from June to October 2020. Its Botox account is nearly not active at all.
- Novartis had low but consistent activity throughout the year except for February and July.
- Amgen has been active most of the year (only three months without any activity), but its engagement is relatively low.
A company’s social media presence, product launches, and strategic decision-making will be different when supported by actionable insights. LucidQuest helps companies get the most out of social media analysis. Reports can be deep dives or broader tracker programs, either standalone or as part of larger engagements. Ultimately, timely, relevant, actionable, and cost-effective insights will help any company make informed decisions.
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