Over and over, we’re pointing out the importance of implementing media monitoring into your business activities no matter the industry you’re in. From financial institutions, marketing agencies, and politics all the way over to NGOs, media monitoring proved to be quite effective in achieving better results. The pharmaceutical industry is no exception. Pharma marketers can use media monitoring to continuously track the brand’s position and progress, track competitors and industry trends, find key people, detect misinformation, and fake news, and so on… In this blog, we’ll go into detail on how pharmaceutical companies can benefit from media monitoring.
Detect misinformationPharmaceutical companies often battle with myriad misinformation floating around the internet. When one gets debunked, another one emerges. It’s like a never-ending cycle. Some of the misinformation can attract a lot of attention and become a recipe for disaster. With media monitoring, you can detect all kinds of misinformation connected to your brand and provide the public with truthful and reliable information. You can constantly stay informed about new mentions of your brand with alerts. They are highly customizable so you can make sure you receive all the information when it best suits you.
Crisis managementMisinformation can sometimes be a source of the crisis. To be fair, misinformation is just a drop in the sea of all the possible events that can lead to crisis. One thing is for sure when crisis situations arise, you better be prepared. By detecting the crisis early on, you have a better chance of dealing with it more efficiently because you’ll have more time to prepare a high-quality response. Media monitoring can really come in handy in this type of situation because you’ll get notified every time mentions of your brand start to rise fastly and unexpectedly. That way you’ll get a better overview of the situation and necessary information for crafting a response. Keep in mind that the sooner you react the better chances are you’ll get the crisis under control.
Finding the right influencersThe pharmaceutical industry is no stranger to using influencers in their campaigns. But, pharma marketers have it a bit harder than others because of all of the rules and regulations. Usually, finding the right influencers for your brand involves a lot of time and research. With media monitoring, the amount of time spent on research can be cut in half. Here’s how it goes. When you monitor mentions of your brand and/or industry, the tool provides you with lists of influencers sorted by the number of mentions, sources, and reach. Now, you won’t have to aimlessly search for people who can potentially be the right fit for your brand because the tool will do that for you. The only this left to do for you is to see which potential influencers could be the best for you and inviting them to collaborate. Keep in mind that you don’t necessarily have to aim for the celebrities. Sometimes, micro-influencers could be an even better option for you because of their extremely engaged and loyal audiences.
ChannelsFind the channels that your consumers are using to discuss your or similar products, services, or brands. That way you’ll get a first-hand insight into “people’s minds” which will allow you to make informed decisions and better marketing strategies. By knowing what channels your customers use, you’ll be able to reach them more easily. Also, that’s a great opportunity for you to join the conversation and give additional information about your products. That way you can spark interest in people who may not have heard of your brand or product before, and present yourself as a brand that’s approachable, informative, and engaging.
Competitors and industryWhat’s going on with your competitors and in your industry affects you as well. That’s why you need to be aware of your surroundings. Using media monitoring saves you from endlessly googling each competitor in order to find out what they’ve been up to. Simply set up queries with relevant keywords regarding your competitors and track away! You can learn a lot by monitoring their product launches, campaign efforts, etc. Also, with Competitive analysis, you’ll be able to see how your brand is performing compared to your competitors which will help you improve your strategies. When it comes to industry trends, you’ll be able to spot emerging trends and topics easily. You can use that information to improve your product or service, create content, reach bigger audiences, etc.
To sum upIf you’re currently getting information about the things mentioned above by googling them every day, this is a great opportunity for you to stop. Imagine all of the things you could put your extra time and energy to if you weren’t wasting them on googling. Plus, imagine all of the valuable information you’re missing out. Updated on: June 23, 2020 Give media monitoring a try by signing up for a 7-day free trial!
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