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Is there a solution for local small businesses facing the healthcare crisis?

Is there a solution for local small businesses facing the healthcare crisis? Small Business Challenge Small business: employs 60% of all people working generates 50% of all the GDP accounted for 415,000 of the 550,000 new jobs created in 2002

JasminFlorian
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Is there a solution for local small businesses facing the healthcare crisis?

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  1. Is there a solution for local small businesses facing the healthcare crisis?

  2. Small Business Challenge • Small business: • employs 60% of all people working • generates 50% of all the GDP • accounted for 415,000 of the 550,000 new jobs created in 2002 • Recent economic trends and rising healthcare costs have created a challenge for small businesses • Benefits are used by small business as a recruitment and acquisition strategy

  3. Minnesota Healthcare • In 2004, most employees with benefit plans will experience a 20-30% increase in premiums of medical benefits alone • 272,000 uninsured residents in Minnesota • 75% residents in Minnesota are underinsured • Minnesota's public hospitals and clinics absorb the costs - pass onto the insured

  4. Alternative Benefit Plan Solution • The Federal Chamber of Commerce • For profit organization • No government affiliation • Not associated with the local chamber of commerce • 5 years old • 200,000 members • FedCare Plan

  5. Federal Chamber of Commerce Marketing Challenges • Introduction into the market • Limited sales force

  6. Research Question Do local businesses have preferred communication methods for learning about alternative employee benefit plans?

  7. Face-to-face meetings Memos Newsletters Internet Intranet Presentations Web-based seminars E-mail Phone/Voice mail Fax Blast Advertising Direct Marketing Personal Selling Public Relations Media Relations Communication Methods

  8. Methodology • Key research questions focused on: • communication methods and preferences • most valuable benefits to small businesses

  9. Methodology • 300 businesses • Cross section of local small businesses • Sample created from the Minneapolis Chamber of Commerce Membership Database

  10. Which communication methods are used most often throughout your organization?

  11. Which communication methods are preferred?

  12. How do you prefer to find out about new products and services?

  13. Significant Findings • Face-to-face, e-mail and voicemail communications were preferred. • Traditional methods of advertising, personal sales calls, and direct marketing still preferred during early stages • Preferred face-to-face and written proposals in negotiating for new products and services

  14. Significant Findings • Majority used web-based communication tools in daily business • Technology has increased in small business marketing efforts • Internet complemented traditional marketing methods

  15. Value of this Research Project • Gives insight into local business preferred communication methods • Assists in determining most effective communication strategies • Develops integrated marketing communications plan based on preferences

  16. Questions? Thank you!

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