The Basics Of Social Media ROI

The Basics Of Social Media ROI

A humorous and distinctive look at SM ROI. It's about the impact. What Rx/Dx marketers haven't full reconciled yet is that I have yet to see a ROI for a TV spot and "traditional" media is becoming irrelevant. ROI and value is a partially a cover for tough decision making. That is why SM is a complete marketing disrupter.

Don't get me wrong, I am an advocate for ROI and I am actually a bigger advocate for tough decision making and placing calculated bets. I am convinced that SM, advocacy and well managed promotions are where marketing effectiveness for Rx/Dx is and will be. Effective marketing ceases to be about what the brand or company wants and should be about what the consumer/patient wants.

Putting together an ROI for Facebook versus a print ad in a trade magazine seems almost ludicrous, doesn't it?
Don't Wait for Your Ship to Come In

Don't Wait for Your Ship to Come In

Right around the time I was graduating from IU and absorbing every ounce of inspiration possible, I read the book, Dig Your Well Before You're Thirsty, by Harvey Mackay, and I remember hearing the phrase, "Don't wait for your ship to come in, swim out to it."

Seth Godin had a similar sentiment recently. All this reaffirms my belief that risk, fate and luck always favors action over inaction....
From Twitter 06-29-2010

From Twitter 06-29-2010



From Twitter 06-28-2010 http://goo.gl/fb/WfSzl
RT @danamlewis: there are many younger docs and younger professionals/people who care about diabetes who can be adding value #dsummit


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From Twitter 06-28-2010

From Twitter 06-28-2010



From Twitter 06-27-2010 http://goo.gl/fb/KTEuR
Life is a Collection of Experiences http://goo.gl/fb/3Q1I7 #digitalstrategy
RT @blogaceutics: Patients Turn to Social Websites to Discuss Ailments, Worrying Some Doctors [FoxNews] http://bit.ly/bonaND #hcsm #hcsm ...


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Life is a Collection of Experiences

Life is a Collection of Experiences

As a company, brand, product or service are you doing everything you can to provide experiences for your customers? If not, someone else will.


image via gapingvoid.com

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From Twitter 06-27-2010

From Twitter 06-27-2010



From Twitter 06-26-2010 http://goo.gl/fb/9HOpJ
Old School v. New School. http://goo.gl/fb/guSw8 #digitalstrategy
Don't Wait for Your Ship to Come In http://goo.gl/fb/jG3G4 #leadership
Domain Expertise + Work Ethic + Time = Success http://goo.gl/fb/NZQ5u #random #leadership
Doctors + Patients + YouTube = The Future http://goo.gl/fb/0TvmJ #digitalstrategy
One Fell Swoop http://goo.gl/fb/P8g5u #leadership
Blue Ocean Strategy http://goo.gl/fb/Zh6qL #socialmediastrategy
I Love Lou http://goo.gl/fb/a69sj #random


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From Twitter 06-25-2010

From Twitter 06-25-2010


From Twitter 06-24-2010 http://goo.gl/fb/G0gcx
RT @andrewspong: Excuse the F-bomb, but this really is good RT @buckleyheather: 10 ways digital agencies [mess] up soc med http://bit.ly ...


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From Twitter 06-24-2010

From Twitter 06-24-2010



From Twitter 06-23-2010 http://goo.gl/fb/U4iiU
How Not To Suck At Facebook http://goo.gl/fb/A0xCU #digitalstrategy


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How Not To Suck At Facebook

How Not To Suck At Facebook

From a personal branding perspective.

As when email became widespread in the 90s, the advice with social media is don't write anything you wouldn't let your grandmother read or be able to defend in a court of law.


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From Twitter 06-22-2010

From Twitter 06-22-2010



From Twitter 06-21-2010 http://goo.gl/fb/y0Dws
RT @MelissaKDavies: Jean-Ah Kang: Approx 1/3 of FDA enforcement letters are related to Internet. #cbism #hcsm #fdasm
RT @ddwebster: #Pharma ranks #2 on least like FB fan pages per @Hubspot http://bit.ly/9vmFRe #socpharma #hcmktg #epharma #fdasm
RT @odomlewis: In case U missed it-amazing video on Starting a Movement! -#Leadership Lessons from Dancing Man http://bit.ly/9SlbMF #hcs ...
RT @FireAlley: ”The greatest mistake we make in living is living in constant fear that we will make one.” John C. Maxwell #fb


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From Twitter 06-20-2010

From Twitter 06-20-2010



From Twitter 06-19-2010 http://goo.gl/fb/4Iiqk
For Father's Day http://goo.gl/fb/jnTEY #random


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For Father's Day

For Father's Day

Via one of my favorites, TED and from the author of a book called, Council of Dads.














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From Twitter 06-17-2010

From Twitter 06-17-2010


RT @richmeyer: If you need proof of just how removed from reality the FDA really is just look at their website as a consumer #socpharm
If it's a good idea, go ahead and do it. It is much easier to apologize than it is to get permission. ~ Admiral Grace Hopper #fb
Celtics or Lakers? Who's your pick? #fb


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From Twitter 06-16-2010

From Twitter 06-16-2010



From Twitter 06-15-2010 http://goo.gl/fb/axzF4


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From Twitter 06-15-2010

From Twitter 06-15-2010



From Twitter 06-14-2010 http://goo.gl/fb/RvUpa
RT @JohnLuginbill: Increasing Patient Volume Through Online Empowerment #hcsm http://dld.bz/g3mu
Strategy is Sexy, Execution Beats Your Competitors http://goo.gl/fb/GL0hc #digitalstrategy
It's Easy to be Awesome, Just be Awesome.... http://goo.gl/fb/jzedI #digitalstrategy


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From Twitter 06-14-2010

From Twitter 06-14-2010



From Twitter 06-13-2010 http://goo.gl/fb/ObJxY


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From Twitter 06-10-2010

From Twitter 06-10-2010



From Twitter 06-09-2010 http://goo.gl/fb/w8TLH
RT @CNNMoney BP CEO Tony Hayward's most memorable quotes - Jun. 10, 2010 http://bit.ly/bIJhZQ
Leadership is vision, culture, and removing barriers. Why most CEOs are dangerously short-sighted http://sbne.ws/r/4TIk
RT @HealthFit2Day: ”Give whatever you are doing and whoever you are with the gift of your attention.” Jim Rohn
RT @JinniDotCom: 80s vs. 00s: Which Decade Made Better Movies? ME: No doubt the 80s. http://bit.ly/9YEFtG
RT @tryingthebiz: “A leader is one who knows the way, goes the way, and shows the way.” ~ John C. Maxwell #fb


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From Twitter 06-09-2010

From Twitter 06-09-2010



From Twitter 06-08-2010 http://goo.gl/fb/cXAZH
RT @FireAlley: ”The greatest mistake we make in living is living in constant fear that we will make one.” John C. Maxwell
RT @JaeSelle: HCP not losing relevance at all- patients ++empowered/educated RT @EileenOBrien HCP relevance #SM a POV http://huff.to/bo ...
RT @socialmedia247: Social Media Won't Fix Being Unremarkable http://bit.ly/9fuKno: Social Media Won't Fix Being Unremarka... http://bit ...
Out of The Box Thinking...Yeah Right. http://bit.ly/9sXw5z #socpharm #hcsm


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From Twitter 06-08-2010

From Twitter 06-08-2010



From Twitter 06-07-2010 http://goo.gl/fb/sler3
Out of The Box Thinking...Yeah Right. http://goo.gl/fb/MQ1mH #digitalstrategy


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Out of The Box Thinking...Yeah Right.

Out of The Box Thinking...Yeah Right.

I occasionally read the Rx/Dx magazine Medical Marketing and Media mostly to see which Rx marketer has been able to successfully position themselves to snag a cover spot for some "breakthrough" campaign.

I came across this recent online article dated May 14, 2010 and that is in the June print edition. The article heavily references a campaign for Zimmer dating back to 2007. It piqued my curiosity. Mostly, because I've blogged in the past about how I think the Orthopaedic market from a device perspective (excluding biologics) is living in 1985. With the exception of a few flashes of brilliance, which have been few and far between, the marketing in the ortho industry is really rudimentary. Literally, these companies are metal foundries that do trade ads and training. So I'm tempted to go through the article point by point to debunk the 'Out of the Box' context it was put in. However, I'll stick with some topline analysis.

I'm not here to knock Zimmer or any ortho company, but the truth is that their marketing is not advanced--at all. The notion that developing an ad that targets a specific audience, in this case women, is unique or sophisticated marketing is laughable.

“In the device space, I think the biggest challenge we have is differentiation of product technologies and how we tell that story,” says Zimmer's Malik. “In orthopedics, you see a lot of what I call metal type ads, with metal products and a scientific claim. You see 10 of those in a row and how will you stand out?”

By talking about product benefits and a reason to believe. By innovating and opening up new channels to communicate where your customers are.

“A lot of the device industry has used what I would call tribal knowledge, or institutional knowledge,” says Malik. “Over 25 years, we've formed beliefs and opinions about what we think the surgeon wants to hear from us. We actually went out and reviewed our concepts and ideas with surgeons and did informal research with reps to understand what's compelling, what's credible, what's memorable, and that really borrows from the pharma model. We're not inventing anything. We're just applying classic principles of advertising and marketing that frankly our industry didn't have to do in the past, but communications challenges are changing rapidly.”
Notice the reference is over the past 25 years. That is the time reference for marketing. In an industry that has been mostly B2B, going direct-to-consumer with an ad placed in the Hilton Head Island TV market is considered unique and novel.

In my eyes, the Ortho industry is begging for interactive marketing. Getting a knee, hip or shoulder replaced touches on multiple PATIENT INSIGHTS that SCREAMS interactive marketing. And more than interactive it screams social media.

The core audience is online in droves, i.e. aging boomers, older than 55 seeking health information, seeking community and connections with others and seeking solution. Doesn't this beg a strategic approach to educate, inform and help people make decisions about a condition that takes time to evaluate? Isn't there a void to fill by being a leader and helping the patient understand the potential solutions? As a Health 2.0 advocate and marketer, I think a tremendous opportunity is being missed.

Patient empowerment and social technologies will continue to grow and the the need for transparency and eduction will also continue to grow. The faster device manufacturers realize that the opportunity is more than simply increasing volumes, and more about opening up channels to reach potential patients, develop opportunities to 'fish where the fish are' and reach potential patients with valuable information while they are in active learning and sharing mode; the better off they will be.

In the end, change only occurs unless there is a forcing factor and/or incentive. A DTC print and TV campaign that occurred in 2007 is not 'Out of the Box.'  Interactive will eventually take hold in the Ortho market and it will be interesting to see how they handle the shift. I just hope that I'll be blogging when it happens, it may be awhile.

Other coverage here. By the way, I checked the Zimmer Web site again, it hasn't been updated in some cases since 2004! 6 years. Stunning.


Agree? Disagree? Let me know....

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From Twitter 06-07-2010

From Twitter 06-07-2010



From Twitter 06-06-2010 http://goo.gl/fb/qrJj2
Why I Fired Steve Jobs http://goo.gl/fb/qV3NM


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Why I Fired Steve Jobs

Why I Fired Steve Jobs


Image via www.gapingvoid.com
Pretty fascinating read on why the former Apple CEO fired Steve Jobs from Apple. Bear in mind that cultural and business norms have loosened quite a bit in the last 20 years.

Why I Fired Steve Jobs

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From Twitter 06-06-2010

From Twitter 06-06-2010



From Twitter 06-04-2010 http://goo.gl/fb/uRypj #socialmediastrategy
RIP John Wooden http://goo.gl/fb/jnBpM #leadership
Forrester Research Takes on Connected Health http://goo.gl/fb/5IvUq #connectedhealth
Get Me Everytime http://goo.gl/fb/WI2gO #random


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Gets Me Everytime

Gets Me Everytime

Great movie, best ever in my book.


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RIP John Wooden

RIP John Wooden

So, I join the hundreds if not thousands of tributes to John Wooden. Not much additional ground to cover other than to say that his wisdom, insights and teachings have had a tremendous impact on me. So much so that I personally try to adhere to his Pyramid of Success and have begun to teach them to my kids. Anybody that knows me well has likely heard a few of his many  Wooden-isms, such as "Be Quick, but Don't Hurry" or "Failing to Prepare is Preparing to Fail."  

Here is a nice tribute from the Orlando Sentinel and a few links to what I have written in the past here and here.

UPDATE: via SbB here is a video of legendary broadcaster Vin Scully announcing the news. Class act.




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From Twitter 06-04-2010

From Twitter 06-04-2010


From Twitter 06-03-2010 http://goo.gl/fb/Oy8ie
RT @mchiaviello: Influence, reach, impact, connectivity, visibility: why convo is king for pharma on Twitter (via @andrewspong) http://b ...
RT @andrewspong: Get yr free copy of "Top 20 Pharma Accs on Twitter: Rated, Ranked & Reconsidered" (PDF, 110 pp.) here: http://bit.ly/d ...
Wow. RT @macobgyn: RT @jonmrich: RT @nickdawson: Does your doctor office have this sign? This gas station does #hcsm http://flic.kr/p/87rf6y


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From Twitter 06-03-2010

From Twitter 06-03-2010



From Twitter 06-02-2010 http://goo.gl/fb/6E0Eh


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From Twitter 06-02-2010

From Twitter 06-02-2010



From Twitter 06-01-2010 http://goo.gl/fb/kHiWf
RT @roskadigital: Effectively Measuring Social Media ROI in Pharma (yes, it IS possible) http://ow.ly/1SZkw (via @pixelsandpills) #fdasm ...
RT @SpitzStrategy: "Like" it or not, #socialmedia is our future article from MedAdNews: http://bit.ly/9oXort #hcsm #fdasm
RT @jbselz: Social Networking (Mobile) App Audience More Than Triples in Past Year - Comscore http://bit.ly/cl1lo1 #hcsm #mhealth #socpharm
Interesting, but a few years away RT 10 Ways Google TV Will Kill Apple TV - Cloud Computing http://bit.ly/bUegYx


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From Twitter 06-01-2010

From Twitter 06-01-2010



From Twitter 05-31-2010 http://goo.gl/fb/8we4f


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