IDC Health Insights Releases IDC MarketScape on Social Media Analytics Vendors for Pharmaceutical Companies

FRAMINGHAM, Mass.--(BUSINESS WIRE)--IDC Health Insights today released a new IDC MarketScape report that helps end users evaluate the leading social media analytics software and service vendors currently addressing the pharmaceutical industry. The comprehensive study, IDC MarketScape: Worldwide Pharmaceutical Social Media Analytics 2012 Vendor Assessment (Doc #HI236520), shows the increasing interest in these software applications and profiles the following nine vendors: Brandwatch, Cognizant, Genpact Social and Digital Transformation Services, Indegene, ListenLogic, Meltwater, Radian6, Semantelli, and Visible Technologies.

“Despite those challenges we have received an increasing number of client inquiries on social media analytics as pharmaceutical companies realize the potential impact social media channels can have on brand perception and marketing execution.”

The IDC Health Insights research found that while spending on outbound social media marketing is lagging, investment in social media analytics software and services is growing rapidly and expected to increase significantly for the next several years. Pharmaceutical companies are seeking new ways to measure brand perception, keep tabs on end-consumer sentiment around products and therapeutic categories, and gain insight into competing brand strategy, pricing, promotions, and other relevant competitive information. As such, companies are looking for vendors with industry-specific expertise, strong customer references, and proven experience delivering measured value to pharmaceutical organizations.

"The pharmaceutical industry has been slow to embrace social media marketing, largely due to the lack of guidance currently available from the FDA. Uncertainty around proper procedure, coupled with potential liability related to tracking adverse events reported in social media settings, is keeping pharmas from utilizing this marketing channel as much as desired," said Eric Newmark, Program Director of IDC Health Insights. "Despite those challenges we have received an increasing number of client inquiries on social media analytics as pharmaceutical companies realize the potential impact social media channels can have on brand perception and marketing execution."

IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants and end users. Market weightings are based on user interviews, buyer surveys and the input of a review board of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions within the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor's characteristics, behavior and capability.

For additional information about this study, or to arrange a one-on-one briefing with Eric Newmark please contact Julie Crotty at 978-877-0053 or [e-mail]. Reports are available to qualified members of the media. For information on purchasing reports, contact [e-mail]; reporters should email [e-mail].

About IDC MarketScape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About IDC Health Insights

IDC Health Insights assists health businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the payer, provider and life sciences industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-hi.com, email [e-mail], or call 508-935-4445. Visit the IDC Health Insights Community at http://idc-insights-community.com/health.