Grey Worldwide

Opportunities:
• No legacy system that requires conversion so Grey can introduce state-of-the-art CRM tools
• China is a huge potential market
• Focus on CRM will provide some business solutions
• Asian market will enter a customer service era

Threats
• Increasing competition
• New technology leads to new effectively competing business models
• Rising customer expectations
• Increasing cost of acquiring new customers
• Changing in the communications industry from generalization to specialization
• Pure online companies are able to produce competitive high quality products at lower prices
• Strong price pressure

Strengths
• Strong brand
• Existing customer database and knowledge

Weaknesses
• Lack of an integrated customer knowledge database

What’s CRM? How Grey pursue the development of CRM?
• CRM goal: an integrated approach to create, identify, evaluate, capture, enhance, share and apply Grey’ intellectual capital
• Use existing database in segmenting customers, predicting loyalty, analyzing market needs
• Need a specialized team to develop CRM
• Utilize the resources of Grey’ worldwide partners

Compare traditional customer service and CRM
• Traditional customer service:
Multiple customer databases or having no customer database
Used to satisfy customers’ needs and requirements
Not used for customer acquisition, loyalty, growth, retention, etc
• CRM
An integrated customer database
Used to segment customers, predict loyalty, analyze market needs, make business strategy, etc
Used advanced technology as enabler
How to redefine client value using CRM? Divide clients into 2 tiers
• Traditional clients who need assistance to assess their competitive environments and build brands
• Sophisticated clients who have strong marketing & brand strategies but want to develop a customer relationship vision and plant

How to interact back-end and front-end?
• Make a unique understanding of gathering data, optimization in the front-end and back-end
• Provide training in the entire company to make sure that all employees think and do in the same way
• Interaction is done via CRM technology
• Front-end people need to be able to think strategically and back-end people support them

Build a customer process blueprint to maximize the use of existing customer database
• Define CRM objectives
• Choose enabler: CRM technology such as data mining, customer profiling
• Choose implementing tools
• Brand Future +: use a Grey’s group partners’ marketing and communications specialists to create personalized strategies to meet customers’ needs
• GRM charter: use Grey’ worldwide knowledge of specialist companies
• Back office and front office applications

Build a framework to assess CRM strategy
• CRM strategy: enhancing brand equity, customer loyalty and customer retention
• Framework:
- CRM strategy: Is CRM aligned with business objectives
- Implementation: measured by ROI of CRM system
- Technology: is it suitable to make use of marketing intelligence of the company?
- Applications: is the company selecting appropriate applications to support CRM?

Criteria to measure CRM performance
• Brand equity
- Added value the brand brings to the company
- Financial value of the brand
- Market share
- Brand extension
• Customer loyalty
- Repurchase rate and repurchase value by customer
- Lifetime customer value
• Customer retention
- Retention rate
- Return on customer retention investment