Despite my grumbles of not having had time to post much to this blog I have managed to find time to write three blog posts for the ZS Associates blog The Active Ingredient. The subject of this triad of posts engaging with KOL and KOI online, starting with why it is important, how to engage online with KOL and with KOI. I actually wrote about this over a year ago and to date it is probably the blog post I have shared the most with pharma clients and teams.
It is a subject area I am passionate about and as you can read in the posts it has potentially a huge value for pharma companies. The relationships of today are increasingly happening online as well as offline and the sheer volume of content on the internet is making it harder to find relevant information. Content shared by KOI is more likely to be found, in part because of their networks, but also because people are more likely to read something shared by a KOI rather than by a pharma company. Building those online relationships today is therefore aligned with current trends but also helps companies make the most of those increasingly tight budgets by expanding the reach of their content.
I was already looking at this over three years ago, and given this potential value I really thought that pharma was going to start doing more in terms of engaging online with KOI and KOL. However to date very few are doing this, with exceptions like Roche Diagnostics & diabetes bloggers and some of the early steps being taken by Boehringer Ingelheim.
Whilst a few years ago it would have taken a great deal more manual effort to identify these KOI today there are some great tools out there to do this. I actually spoke this afternoon to Little Bird who took me through their tool. I loved it! It does exactly what one needs to identify the KOI and has some great ways of looking at the data and provides actionable insights. Of course it is just a tool and the key to any tool is how you use it. When looking at this particular area the key thing is to focus on the relationship part. Once you have identified the KOI you need to develop a clear plan of who exactly you will build a relationship with, why and how. This is something that cannot be automated and is not something that should be left to your agencies! Just as in the offline world to build the relationship you actually have to present, the same is true online. How can you build a relationship through a 3rd party, or even worse through a barrage of automated tweets?! And do you really want your agency to own these strategic relationships?
Whilst in the pass the tools were a barrier to building online relationships, today I believe the key barrier for pharma companies is the lack of internal knowledge and process to deal with this new relationship model. This however should not be a barrier anymore. Equipped with the insights and looking at how relationships work offline companies can start to put in place the expertise and process required to build these relationships. Perhaps the main question is not how can they do this but why on earth are they not started doing this already?