Why pharma needs social media
The following is a reply posted in Ad Age in response to the article Big Pharma Finally Taking Big Steps to Reach Patients With Digital Medi...11 May 2009 2467 Views
The following is a reply posted in Ad Age in response to the article Big Pharma Finally Taking Big Steps to Reach Patients With Digital Media
I’ve always found it ironic that an industry that saves millions of lives each year is among the most mistrusted and despised by the public. But the pharma industry has only itself to blame.
In the past silence was the preferred strategy for pharma. It generated massive amounts of resentment towards the pharma industry, but heck, they still sold their pills. Today pharma is realizing that there is also profit in having strong brands (corporate and product) and silence is no longer a viable strategy. One reason is because if they do not tell their story there is a resentful public who is more than willing to tell it for them.
Most pharma companies do a lot of good and would benefit from more transparency. As jbernoff points out fear factor is one of the biggest obstacles pharma is dealing with. A tradition of silence, and in many cases corporate arrogance, is hard to break. I agree with Loreen Babcock. Pharma needs social media and those companies who embrace it will benefit as will their shareholders.
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