Big Pharma Continues to Embrace Social Media
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The Eye on FDA blog reported today that AstraZeneca and Sanofi-Aventis have joined the ranks of Abbott, GSK, J&J and SanofiPasteur on YouTube. Pharmaceutical companies are taking advantage of the power of YouTube and other social media sites because regulatory guidance hasn’t been issued on its use to promote products or brand awareness. In other words, this is uncharted territory and companies can essentially 'test the waters' to see how far regulatory agencies will let them go. I suspect that early life sciences company adopters of social media will garner substantial ROI before regulatory guidance is issued.
A lack of regulatory oversight, the ability to manage and control content and the low costs associated with creating Internet videos make YouTube and other social media sites attractive to pharmaceutical and biotechnology companies. The life sciences sector is just beginning to recognize the power of social media and the role that it may play in promoting products and brand awareness to consumers. Expect many more life sciences companies to experiment with social media in the near future--its a veritable goldmine!
Until next time…
Good Luck and Good Video Watching!!!!!!!
