Social and Mobile Platforms: Why Should Life Sciences Companies Participate?

Why is Healthcare a unique playing field for social and mobile platforms?

Advent of digital tools and proliferation of online media has resulted in a massive growth in volume of online conversation. For instance, Facebook has over 900 million users globally1; over 72 hours of videos are uploaded on YouTube every minute2; Twitter is seeing over 200 million tweets a day1; and Super Bowl XLVI generated over 17 million mentions3, likes or check-ins on social media during the event. Companies realize that social media is more than a fad and impacts industries beyond consumer-based ones such as CPG and Media & Entertainment. Industries ranging from Energy to High-Tech have all started to embrace social media, while the Life Sciences industry continues to lag in adopting social media strategies (see Figure 1). The Life Sciences industry’s traditionally conservative approach is further exacerbated by an increased regulatory focus on compliance, the current economic climate, and the loss of revenue from blockbuster drugs losing patent protection...