In the life sciences, many firms’ offerings are often very close to their competitors’ – almost identical in fact. This is due to many things; perhaps most important is the regulatory scrutiny that drives similarity in processes.
If you are similar to your competitors, it’s not reasonable to assume that you can stand in a corner mumbling to yourself and expect to get noticed. You need to spread the word, and when you “spread the word”, both “spread” and “word” are important.
In the life sciences, particularly, it is important to put first things first. If you already have a unique message (the “word”), then you can broaden your focus to include social media (the “spread”). But without a unique message, spreading the word won’t help distinguish you from your competitors, and won’t drive revenue.