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


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

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

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Is there a solution for local small businesses facing the healthcare crisis l.jpg

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


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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


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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


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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


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Federal Chamber of Commerce Marketing Challenges

  • Introduction into the market

  • Limited sales force


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Research Question

Do local businesses have preferred

communication methods for

learning about alternative

employee benefit plans?


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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


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Methodology

  • Key research questions focused on:

    • communication methods and preferences

    • most valuable benefits to small businesses


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Methodology

  • 300 businesses

  • Cross section of local small businesses

  • Sample created from the Minneapolis Chamber of Commerce Membership Database


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Which communication methods are used most often throughout your organization?


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Which communication methods are preferred?


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


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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


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Significant Findings

  • Majority used web-based communication tools in daily business

  • Technology has increased in small business marketing efforts

  • Internet complemented traditional marketing methods


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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


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Questions?

Thank you!


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