IDC report - optimistic on social vendors

IDC MarketScape has released its "Worldwide Pharmaceuticals Social Media Analytics 2012 Vendor Assessment" report. The report says that there is an increasing interest in social media software applications and profiles the vendors such as Brandwatch, Cognizant, Genpact Social and Digital Transformation Services, Indegene, ListenLogic, Meltwater, Radian6, Semantelli and Visible Technologies.

Congnizant has been recognized by IDC MarketScape as a leading vendor for pharmaceuticals social media analytics for the year 2012. As per the report, “Cognizant is highly focused on the pharmaceutical industry and is considered by its customers to have very high pharmaceutical industry expertise.”

Eric Newmark, Program Director of IDC Health Insights' Life Science Business Systems service, was quoted in the release, saying, “Many pharmaceutical companies are ramping up their investment in social media analytics as a large majority of consumers now go online to research their medical condition and treatment alternatives. The information they find, combined with their physicians’ opinion, is often the largest influencing factor on the prescription or treatment sought. Hence companies should understand what consumers are finding online and closely monitor its effect on their brand.”

This is very true. Social media has a measurable impact on PR and analytics. It also gives huge boost to brand recognition. However, many companies are still struggling to identify clear social attribution. Branding in this social media age is very crucial and challenging, where the biggies always need to keep an eye on the social media listening trend.

The findings of the IDC report will surely help the healthcare and pharmaceutical companies to choose the right analytics application and right vendors to analyze their social media brand perception.