REPORT #09-005 September 2009
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New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos
Overview
EXECUTIVE SUMMARY
Regardless of how effective videos are (some are and some aren’t—find out why in this report), what we did find is that 65% of scientists believe that life science suppliers should circulate videos to promote a brand or a product. We also asked the respondents in this study what types of content were accessed online in the past 12 months—to benchmark current behavior—and we found that three quarters of scientists have accessed short videos in the past 12 months— just about equal to the use of news portals (CNN, etc.) and information-related Web sites (i.e., weather, stock data, etc.). Plus, of the nearly 1,000 respondents who viewed short online videos in the past 12 months, 88% did something as a result of viewing an online video; more than two-thirds forwarded the video to a friend or colleague and more than half clicked on a related link, or used a search engine for more information related to the video.
BioInformatics market insights from gene to drug
We’ve asked scientists to evaluate videos from these companies for preferences, relevance to their research, memorability, effectiveness, and what actions they would take after viewing it. New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos is designed to provide insight as to how to create a favorable impression using video, inspire scientists to share your content, and ultimately position this marketing channel as a way to create relationship between your company and the scientists you serve. Use this guide to apply metrics to your online video marketing campaign, validate or re-direct a current video strategy, or invest in a smart way if you are considering using video to get your message across—even if you’re the one sitting in front of that laptop Webcam.
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New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos ©2009 BioInformatics, LLC
Key Findings
Affymetrix Agilent Technologies Applied Biosystems (Life Technologies) Bio-Rad Laboratories BioTek Instruments BioTrove Eppendorf Helicos Invitrogen (Life Technologies) NanoDrop (Thermo Fisher Scientific) Roche Applied Science Tecan Thermo Fisher Scientific Waters
Analyst Expertise
What’s clear is that this new advertising model places the consumer in the driver’s seat. A scientist will only watch your video if—and when—he or she wants to, and will only remember it (and forward it) if the content has captured their interest. In BioInformatics LLC’s upcoming report, New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos, we surveyed nearly 1,300 scientists for their opinions on marketing videos produced by life science suppliers to find out how videos are discovered, used and shared, and to understand impact on brand awareness and purchasing behavior. In this era of personal branding—where brands are shaped by the power of online communities— companies must figure out what makes a scientist choose to watch their concept, product demonstration or PR spin, and subsequently buy into the message and share it with colleagues.
Company Information
Lights, camera, ACTION. Twenty-first century life science suppliers have stumbled into the movie business, and are seeking ways to maximize outreach through the use of online marketing videos. Marketing departments in major corporations—and mom and pop shops—are scrambling to identify smart, creative and contagious ways to “go viral” with this social media tool. From six-figure, slick three-minute clips to the entrepreneur on a laptop Webcam, companies are investing millions of dollars to create online videos that engage the scientific community and call the scientific consumer to action.
New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos addresses the key elements involved in deploying this alternative marketing channel, and reveals what your boss is probably asking—what works, and what doesn’t? Find out how scientists discover marketing videos, and what actions respondents are likely to take after watching them (and why). Learn what type of content—and length—your viewing audience prefers, and find out what makes a video memorable—or forgettable. Significantly, learn which companies have made the most memorable videos, and how frequently scientists watch a product video to assist with the buying decision. In the final section of this report, scientists evaluate 16 marketing videos produced by the following major suppliers:
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Overview
Methodology & Demographics
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Executive Summary Page 1 of 6
Specifically, this report will address the following key objectives: s #LARIFY RESPONDENTS LEVEL OF )NTERNET USE AND FAMILIARITY with different content types
s )DENTIFY LIFE SCIENCE SUPPLIERS WHO HAVE PRODUCED THE most memorable online videos
s $ISCOVER HOW RESPONDENTS LEARN ABOUT ONLINE VIDEOS AND how frequently they watch different types of videos
s 2EVEAL WHAT INCENTIVES LIFE SCIENCE SUPPLIERS CAN PROVIDE to scientists in order to encourage them to watch their online videos
s $ETERMINE WHAT ACTIONS RESPONDENTS ARE LIKELY TO TAKE after watching an online video and their likelihood to take part in the viral promotion of the online videos s !SCERTAIN THE REASONS WHY RESPONDENTS WATCH ONLINE videos s #APTURE RESPONDENTS OPINIONS ABOUT THE IDEAL LENGTH and content of a typical online video
s 0INPOINT COMPONENTS OF AN ONLINE VIDEO THAT ARE necessary for it to be considered both memorable and effective s %VALUATE ONLINE VIDEOS THAT PROMOTE THE PRODUCTS from 14 different life science suppliers for their memorability, effectiveness, and other evaluative criteria
Methodology & Demographics
This report explores researchers’ receptivity and responsiveness to online video advertising. Its major goal is to help life science suppliers leverage online video for their Internet advertising campaigns.
Overview
Report Objectives
The electronic questionnaire was fielded to registered members of The Science Advisory Board. BioInformatics sponsors The Science Advisory Board, an online community of more than 44,000 scientists, physicians and healthcare professionals from around the world. The Science Advisory Board is divided into two panels (Research and Clinical) and “convenes” regularly via the World Wide Web (www.scienceboard.net) to voice their opinions on a wide variety of issues relating to biomedical research and clinical technologies. These experts—representing all aspects of the life sciences and medicine—have agreed to make themselves available to participate in our online research activities. The Science Advisory Board members who participated in this study were drawn from the Board’s Research Panel.
Market Segment Respondents=1280 Academic . . . . . . . . . . . . . . . . . . . . . . . . . . 641 50% Hospital or University Medical Center . . . . . 179 14% Government . . . . . . . . . . . . . . . . . . . . . . . . 134 10% Pharmaceutical Company . . . . . . . . . . . . . . 116 9% Biotechnology Company . . . . . . . . . . . . . . . . 96 8% Private Research . . . . . . . . . . . . . . . . . . . . . . 51 4% Contract Research . . . . . . . . . . . . . . . . . . . . . 31 2% Medical Device/Diagnostics . . . . . . . . . . . . . . 16 1% Commercial Testing Lab . . . . . . . . . . . . . . . . . 7 1% Healthcare Network/Facility . . . . . . . . . . . . . . 6 <1% Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 <1% Group/Private Practice . . . . . . . . . . . . . . . . . . 1 <1% Geographic Region Respondents=1293 North America . . . . . . . . . . . . . . . . . . . . . . 759 Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . 316 Asia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 Australasia/Pacific. . . . . . . . . . . . . . . . . . . . . 41 Central/South America . . . . . . . . . . . . . . . . . 30 Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
59% 24% 10% 3% 2% 2%
What life science supplier do scientists want to help promote the brand and/or a product for by starring in an online video? Find out on Twitter… http://twitter.com/ScienceAdvBoard
New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos ©2009 BioInformatics, LLC
Executive Summary Page 2 of 6
Analyst Expertise
New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos is based on responses to a 59-question online survey conducted by BioInformatics, LLC. The questionnaire was completed by 1,298 life scientists worldwide between August 4 and 17, 2009. The questionnaire consisted of 41 closed or partially close-ended questions and 18 open-ended questions designed to encourage participation and to meet objectives of the study..
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Demographics
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Methodology
Key Findings
s !SSESS THE LIKELIHOOD TO PURCHASE OR RECOMMEND THE purchase of a life science product as a result of viewing an online video
Which of the following have you ever done as a result of watching an online video? (check all that apply) 69%
Forwarded the link/video to friends or colleagues Clicked on one of the "related links" surrounding the video Used a search engine to get more information related to the video content I saw
58% 52%
37%
Visited a Web site mentioned in the video Clicked on a pop-up or text link that the video displayed
21% 19%
Rated the video
Embedded the video on another site (personal or other use)
13%
Mentioned in a discussion forum or listserv
13%
Blogged about it
7%
Downloaded to use as a MP3 or ringtone
8%
Shared the link via Twitter or other similar platform
8%
Key Findings
15%
Commented about the video on the Web site hosting it
1% 12%
Do you believe that life science suppliers should be making online videos (such as those viewed in this study) to promote their brand and/or products?
Analyst Expertise
None of the above, I haven't done anything in response to an online video.
Methodology & Demographics
41%
Downloaded the video
Other
Overview
Key Findings
Life Science suppliers should make online videos to promote their brand and/or product 65%
New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos ©2009 BioInformatics, LLC
Executive Summary Page 3 of 6
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Life Science suppliers should not make online videos to promote their brand and/or product 18%
Company Information
Don't know/ Not sure 17%
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When others promote results from their online surveys, they fail to mention the uncontrolled nature of their broadcast email invitations. To provide you with the most valid and accurate results possible, the respondents to our surveys are members of our unique online panel—The Science Advisory Board—which consists of more than 44,000 verified life science and biomedical professionals who have agreed to take part in our surveys, focus groups and other market research activities. These respondents are carefully selected based on their professional qualifications, market segments and geographic regions—we can even select them based on the products they use and their preferred suppliers.
Developed by a Team of Experts Our questionnaires are developed by a multidisciplinary team of scientists, industry veterans and market research experts with years of experience. These professionals understand that survey questions need to be asked in a way that ensures the answers will directly address the business challenges you face. Once the survey data is collected, this same team creates a unique report that presents the reader with a thorough understanding of the topic and the scientific and business implications of the results based on sophisticated statistical analytics.
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Complimentary Consulting Provided With your purchase, we offer one free hour of consultation with our talented team of scientific and business analysts who created the report. During this consultation, we can answer any questions you may have about the survey results and what we believe to be the significant trends affecting the market.
Invest in the most direct source of information from the scientists who buy your products, and the expert team that has been monitoring your clients since 1994.
New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos ©2009 BioInformatics, LLC
Executive Summary Page 4 of 6
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Unlike reports from other firms that are based on an analyst’s subjective summary of information from publicly available sources, our reports are based on the results of detailed surveys of hundreds—even thousands—of scientific and medical professionals who buy your products.
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New Media Marketing Channels: Creating Effective Online Life Science Promotional Videos ©2009 BioInformatics, LLC
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Executive Summary Page 5 of 6
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