BY Group 5 Abhinandan Narayannan M005/12 Hemlata Meena M018/12 Tarun Gupta M044/12 Neha Upadhye M094/12

Grey-WW/HK-a marketing and communications enterprise (customer interaction, design, advertising & PR)

Goal of GRM-integrated approach to create, identify, evaluate, capture, enhance, share and apply GWWs intellectual capital

Strategy adopted- differentiate itself through GRM proposition(Differentiation) and not cost-cutting, manage knowledge and technology

In 2001-GWW/HK faced a challenge (threat) of repositioning itself due to change in technology

Development of GRM- a CRM philosophy involving customer management along with brand management

Importance of CRM-critical to industries like banks, telecom & finance institutions where customer service was key focal area, building lifetime value relationship with customers

Plan of action=merge technology with traditional marketing form to develop CRM positioning for local clients

Environment-US began moving to a generalisation mode and Asian agencies to a specialisation mode

Problems with CRM-Lack of accountability, little investment in technologies supporting CRM

TRADITIONAL MARKETING

CRM

Primary focus-Customer acquisition

Short term focus-used to satisfy a customers primary wants and needs only

No emphasis on building customer database

Focuses on every customer is important (customer is the king) approach

Primary Focus-Customer retention and management (recognized that new customer acquisition costs the industry 5 times as compared to retaining an existing one) Long term focus-analysing business over a time period, developing strategy to retain existing customers(like product development, market development and diversification) Primary emphasis on developing current customer database Recognises that 80% of the revenue is obtained from 20% of its customers and hence focuses on those customers primarily

Brand Futures + Targeted companies that had traditional marketing needs like defining and building brands

Build Brands

Knowledge and technology= CRM implementati on strategy

GRM

Develop/ma nage existing customers

Create positive brand experience for clients

GRM Charter catered to those companies that had strong brand and marketing strategies in place and wanted a customer relationship vision and plan

Issues

Strategy

Increasing competition from management consultants, traditional agencies and pure online players etc Rising customer expectations New technology resulting in low price for competitors High calibre people migrating to clients Increasing cost of acquiring new customers Pure-online players producing competitive high quality products at low prices. Dip in margins from 15% to 2%

Not competing on cost Building a better efficient and cost effective CRM strategy Repositioning with define emarketing Data-mining and customer profiling will act as key focus areas Differentiation from competitors using CRM positioning

Customer Database Brand Equity Technology

Integrate the huge customer database to create a single customer profile Knowledge integration of business customer through proper segmentation; customized service plan according to client type; KMA for high caliber clients

Well known name, can be used for building relationship and trust Brand name can be used to build relationship with major service providers in Asia Pacific region Can attract good talent for operations and strategy

Can use its technology expertise to integrate data from multiple touch points into a single profile to provide a more holistic view Trigger the process to integrate knowledge management across the firm It can be used to create a cost effective marketing plan Use technology to tap the opportunity in data networking and telephony area

Optimization of the data gathering process for both front end & backend needs Change management through making people part of building team rather than adopting to it. Institutionalize key processes and strategies developed through customer interaction using technology Training of the entire staff to make sure uniformity among employees as per thought process action and implementation Interaction within the firm should only be through CRM technology Front end staff should be encouraged to think strategically. As per available data Back end staff should have the same data and support them in their claims