Global Media Monitoring Market Intelligence

Are you looking for answers on Global Media Monitoring category?

Are you looking for answers on Global Media Monitoring category?

  • What are the key trends in Global Media Monitoring category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Global Media Monitoring industry?
  • How is Global Media Monitoring industry performing?

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Report Coverage

  • Case study
  • Engagement Models
  • Supplier Landscape

Table of contents

  1. Global Media Monitoring Executive Summary
  2. Executive Summary
  1. Global Media Monitoring Business Cases
  2. Ascension Health and News Data Service
  3. PBCC and Cision
  4. General Electric - Analyzing and Reporting
  5. Nestle-Data Visualization for social media monitoring and engagement
  1. Global Media Monitoring Procurement Best Practices
  2. Centralized Management of Media Monitoring
  3. Challenges to move towards Centralized Media Monitoring
  4. Fortune Healthcare Clients and Media Monitoring
  5. Engagement Models - Comparative Analysis
  1. Global Media Monitoring Market and Supply Analysis
  2. Healthcare companies and their Global Media Monitoring activities
  3. Supplier Landscape
  4. Expert Profile

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Global Healthcare Industry–Media Usage

The broadness of media monitoring activities is disparate according to the Business Unit and the Healthcare company. It all depends on the levels of maturity of the departments that use media monitoring.

The media monitoring activities is adapting to the new stakeholder landscape, where new ad-hoc requests like blogs, influencers etc., are constantly leveraged upon.

  • 49 percent of marketing executives use media monitoring to better understand customers, prospects and markets
  • Fake news creators are beginning to target companies to gain lucrative advertising revenue which makes it important to more closely monitor news and social media
  • The healthcare sector is innovating its practices and coming up with new demands to the media monitoring agencies
  • Thus not only the contents of the messages and clippings are monitored, but also their impacts and influences are analyzed
  • This new trend is tackled via social media monitoring activities
  • Also, Social Media Monitoring aids PR Crisis Management

Centralized Management of Media Monitoring 

The need for coordination of the communication messages for Healthcare and Pharmaceutical Industries require that media monitoring especially related to Political and Business activities are centralized.

Media Monitoring at the corporate and product levels will be centralized and what will remain at local or regional level will be news specific to plants and other local operations.

How?

  • For the sake of uniform communication and cost control, Healthcare and Pharmaceutical companies will try to have a coordinated platform that will manage media monitoring and its related analysis centrally
  • In practice, all departments tend to add their own monitoring priorities, and most of the time, additional monitoring practice flourish
  • Such situations are usually settled in times of crisis, when the company looks at global strategies for saving costs
  • For the sake of uniform communication and cost control, Healthcare and Pharmaceutical companies will try to have a coordinated platform that will manage media monitoring and its related analysis centrally
  • In practice, all departments tend to add their own monitoring priorities, and most of the time, additional monitoring practice flourish
  • Such situations are usually settled in times of crisis, when the company looks at global strategies for saving costs

Why?

  • The monitoring of media services has never been a priority for companies until recently. Healthcare and Pharmaceutical companies were not used to communicating beyond their product and their usual KOLs.
  • This was amplified by the rise of new stakeholder landscape, the need for the Healthcare and Pharmaceutical Industries to develop and tell compelling stories, cost controls, Digital PR and fake news
  • Now there is an evolving trend towards the need to centralize media monitoring services according to the level of maturity of the company

When?

  • Many cross industrial Fortune 500s like Nestle, engage with one or more global PR agencies that either have an in-house Media Monitoring Team or an active contract with a specialized media monitoring agency thereby leveraging on the spend by bucketing of various services
  • A few BFSI sector companies like HSBC engage with local specialized media monitoring agencies on a project by project basis

Challenges to move towards Centralized Media Monitoring

The challenges of moving towards a centralized media monitoring relate to:

  • The capacity of the centralized entity to have a thorough coverage of the local news
  • The willingness of the local business units to give up on the important tools for the benefit of the centralized task force generally located in the Head Quarters

Developing a Task Force

Develop a centralized analysis and monitoring task force (in-house as well as agency) that will tackle in priority the tier one media, key social media, the selected issues (i.e. pathologies, policies, etc.).This task force is responsible for driving analysis and recommendations related to these elements

Defining Priority Markets

Define the key priority markets and assign individuals responsible for dealing with the local agency if retained. The role of group of individuals will be to monitor and analyze local as well as social media activities. Local media translation is to be done based on the criticality of the analysis. This information needs to be sent to the centralized monitoring task force for inclusion in their report

Analysis and Reporting

A “Breaking News” system must be established in case a piece of news erupts outside the regular monitoring activities. Establish a clear list of the recipients of the monitoring and analysis, keeping in mind that the wealth of confidential information within an organization

 

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