Chief Marketing Officer
WageWorks, a leader in providing consumer-directed benefits, has been making significant efforts to gain traction with the small to medium-size business segment over the past six years. When it comes to this segment, Chief Marketing Officer Britta Meyer says the company is working hard to understand this segment’s needs, affordability, flexibility and desired amount of interaction, and she feels they have developed a formula that is proving to be very successful.
Particularly in light of the Affordable Care Act, Meyer says this segment has become even more important, so they are working to help them understand the benefits available to them.
“WageWorks began as a mostly enterprise provider, but as we have expanded our reach, our marketing organization has really begun to reflect that,” she says. “We have product marketing managers in place to facilitate communication with our different audiences and between our specialists and development teams, and we have specialized marketing and communications people who essentially serve as communicators between small to medium-size businesses and our company to ensure they understand what we can offer them.”
To gain intelligence on this segment, Meyer says they have some direct communication with these customers, in addition to building trusted relationships with brokers who help educate this segment about their benefits and how to get the most from them, and they provide valuable feedback about their interactions. For the credit card service they have in place, they are also able to obtain research about how different audiences are using the card, their services and how WageWorks can better help them understand the benefits.
“This market is very fragmented and diverse, so there are certain segments within this market for which we have very good insights while there are others where we are lacking,” Meyer says. “We are working to build our insights to better understand the drivers and concerns of certain subsets within the SMB market.”
Currently, the company has campaigns in the works to help increase participation rates among certain demographics, and they are considering a brand refresh in the coming months. In order to ensure they resonate positively with customers, Meyer says they engage directly with their clients to obtain feedback on how the brand should look and feel, as well as what it should convey. They are also increasing emphasis on digital as they have primarily used offline communications in the past.
“Since last year, we have made significant changes when it comes to identifying the channels through which we want to communicate and ensuring that the right information gets to the right people,” she says. “We’re transitioning to include more email communications and websites where people can engage, and we’re moving away from printed materials and brochures. Social media will also be critical for us in terms of identifying where conversations are taking place so that we can take part in them when they do. Everything that is done online is measurable, so we feel this will be really beneficial for us.”
Meyer says they also plan to incorporate more mobile marketing efforts for clients who don’t necessarily have desk jobs. While companies such as auto manufacturers may not have immediate computer access, they have found that most people have smartphones, so they can still take advantage of this digital channel. They are currently piloting various programs to see how response rates develop so they can learn about the questions and challenges people have and address those from the beginning.
“I believe that small businesses are truly experiencing enterprise-level service from us because they are receiving the same benefits and services as enterprises,” she says. “There is something very special about WageWorks because we have shaped the standards of our industry by making our products available to every single business, no matter how small they are.”