Oh, and did we mention legal and compliance relationships?

Well, we turned to a marketing expert in the healthcare world. Like financial services, pharma operates under strict, but sometimes lacking, FDA guidance; it’s an industry of risk and uncertainty; the age of ‘approvers’ is, shall we say, more advanced; issues abound in data protection and privacy; and, ROI is soft. What LiveWorld calls a digital acceleration and governance process has guided the pharmaceutical industry to enhanced relationship-building via social media. The model provides a foundation on which to build not only a social strategy, but to build solid relationships with your internal legal and compliance partners. 

Here are a few ideas on how to get you from ‘No’ to ‘How’ with your internal partners!
  • Speak their regulatory language.
  • Present detailed plans- show them early and regularly.
  • Let them micro-manage the approval process from the beginning.
  • Show them the upfront risk.
  • Think like your legal and compliance partners.

Work with a "digital acceleration model." This is just one approach from LiveWorld, social media monitoring firm. Jason Liebowtiz advised CFG members to test  the model in a region first. Determine outcomes. Build consensus. Organizational alignment.

Then, educate! Show your compliance partners how it can work. Use the tools to digitally map the issue at hand – who your audiences are talking to, conversations, etc. Find ‘little data’. Find the B2B applications so you can compare to B2B banking.

For more information on this session, or to contact LiveWorld, please contact CFG at info@cfgglobal.com.

Slides from this presentation can be found online in
CFGs private Resource Library.

Copyright © 2019 Corporate Financial Group, Inc., All rights reserved.

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