With the tenuous economy plaguing consumers this holiday season, retailers have prepared for a likely decline in sales in the coming month, as opposed to last year. While households may not burst through the roof with expensive gadgets and large packages this time, one can still anticipate some level of gift exchange. Shoppers are apt to hunt down deal, online and off, and as Black Friday and the Christmas rush approaches it’s no surprise to see how business have taken advantage of social media channels to promote specials.

As the economic downturn continues to adversely affect pharmaceutical companies all over the world, many pharmaceutical consultants are starting to recommend giving SM a try. Until recently, much of the pharmaceutical industry has shied away from entering into the interactive realm of social media, for various reasons. The common belief was that implementing effective marketing strategies using social media was too difficult, given the legal and regulatory hurdles. Also, the lack of a means to measure the financial success of using social media, has kept many pharmaceutical companies away from using these possible lucrative marketing tools. However, signs are showing that these trends are starting to change.

Social Media for the Consumer

If you consider yourself a savvy online shopper, chances are you are following all the retailers you patronize the most, and have subscribed to all the right mailing lists and forums. However, social media can still optimize your shopping experience.

If you’re aware of a particular shop or restaurant in your area and are contemplating shopping there for a gift card or other item, Yelp.com can prove useful in making up your mind. This social forum, while on the outset a customer review site for dining, also accept commentary on local shops and services.

With over 80% of Internet consumers, searching online for health and drug information, breaking into social media is absolutely vital for the continued success of pharmaceutical industry in the technologically evolving business climate of the 21st century. Many pharmaceutical consulting experts are finding it more and more important for the pharmaceutical industry to enter into this realm of social media, and find it will be more common place in the next 5 years.

Track referrals, friends, successes and failures; pay attention to traffic spikes and dips. While the majority of internet marketers do not test the efficacy of their efforts, measurement and observation can make all the difference between a low-cost marketing success and a costly marketing flop. Interestingly enough, measuring the success of others’ efforts in marketing can behoove you as well. For example, if you find a video online that is relevant to your content and you can see that it is been viewed many times, respond to it. You can post a written response or a video response, depending on the site you’re using; while video posts with few views are rarely found, by posting a video response to a highly-viewed video, yours will be visible every time the other is found – it is called piggybacking

Resource Author Francisco R. Higueras
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