Background
• Established in 1978
• Communications industry– Focuses on Communication– Wide range of Marketing
• 16 global partner companies across the world
• Specializes in Integrated Marketing Expertise
• Create customer value through GRM
• Integrated Marketing Approach
• Shift focus from Brand equity to customer equity
• Strengthen integrated customer knowledge database
• Assess and arrive at measurable Return of investment goals
• Take CRM platforms across the organization
• One-to-one customer relations
• One stop support management
• Focus on GRM to provide best solutions
Other issues?
• Increasing cost of acquiring new customers
• Pure-online players producing competitive high quality products at lower prices
• Strong price pressure
• Smaller Asian Market
• Smaller Market
• AMR Research says CRM industry would be $17b by 2003
• Including CRM for 600 million difficult than 60 million
• 14 times growth is expected between 1986 to 1999
Some trivia
• Cost to acquire new customer is 5 times than retaining the new customer
• Only 50% of sales are accounted from CRM performance
• 11 customers acquired by spending $3500 whereas 23 customers retained for same cost
Philosophy for customer Management focus
• Build Brands
• Develop and manage customers
• Create positive brand experience for customers
• Knowledge of customers through constant dialogue
Grey Relationship Management
Brand Futures+ - Target companies that had traditional marketing needs.
GRM Charter – Target companies that has strong marketing and brand but want to develop the CRM vision and plan.
GRM Philosophy
• Create, identify, evaluate, enhance Grey IP
• Institutionalize key processes and strategies that are developed through customer interaction
• Cross functional skill development for team
• Perform customer analysis, segmentation and market analysis
• Know more about customers faster than competition and turn that knowledge into action even faster
• Campaigns and programmes leading towards CRM strategy
• Online and offline strategic consulting
• Educating customers about products and benefits/risks
• Look for external opportunities to raise revenue as part of cost cutting
• Develop strategies and products to retain existing customers
• GRM philosophy training to employees
• Redefine customer value
• Deliver customer centric strategy by integrating and evolution of strong feedback mechanism
• Interaction with customers through CRM, one stop helpdesk..
• Process optimization in front-end and back-end office systems
• Position itself as trusted, sustainable partner among clients
• This solution should be customizable to support future expansion for Grey
References
• https://hbr.org/product/grey-worldwide-strategic-repositioning-through-crm/HKU164-PDF-ENG
• Janemcalevey.com
• http://www.authorstream.com/