Case Study – Chicago Mercantile Exchange Inc. CRM Project Elements Salesforce.com Implementation Data consolidations and migration Training Marketing Automation Exact Target Integration Reports and Dashboards Wireless access via Sendia and Blackberry "Because of their technical knowledge, Model Metrics completed the integration a lot faster than we could have internally. If Model Metrics hadn't guided us in taking advantage of the capabilities of salesforce.com for tracking, Exact Target for email, and their custom integration skills, it would have taken us a year to complete everything ourselves." Jim Sherman, Director of Direct Marketing, Chicago Mercantile Exchange Inc. Client Background The Chicago Mercantile Exchange Inc. (CME) is the world's largest and most diverse financial exchange. As an international marketplace, CME brings together buyers and sellers on CME Globex electronic trading platform and on its trading floors. CME offers futures and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. Challenge Several customer and marketing databases and applications existed within CME and most of them were ineffective or underutilized. Many of the contact profiles were incomplete, lacked detail, and existing data management processes were inefficient. Too much manual effort was required in order to conduct vital business development, marketing communication, and customer relationship management activities within such a fast-growing organization. The CME marketing department needed to create a central database that could provide real-time customer information for the following business units: Commodities; Equities; Foreign Exchange Group; Interest Rate Group; GAM Marketing; ASIA Marketing; and London Marketing. These groups often interacted with the same customers, so the ability to capture, track, and share data between them, while retaining specific functionalities in each business unit, was crucial. Every customer interaction needed to be documented and managed from both an account and individual contact perspective. Additional CME objectives included automating the newsletter and subscription update process, and integrating an e-mail marketing utility that could access list and contact information form the central database. Having the ability to track various campaigns and response results for each contact would also be instrucmental in meeting CME's strategic goals of providing its employees with a complete view of all interactions. All of these objectives were accomplished through the successful implementation of salesforce.com Solution In July 2005, CME enlisted the services of Model Metrics, a consulting firm dedicated to helping clients improve their sales, marketing and customer support results through the effective implementation of On-Demand browser delivered internet applications. The first thing Model Metrics did was to merge and purge CME's existing databases, along with the contacts from the various user groups' MS Outlook Contacts. Then they defined a configuration for salesforce.com that included comprehensive account and contact profiles. A new call reporting format that alighned with best practices for information gathering was also implemented. Finally, reporting and dashboards used to monitor key metrics were created. In only eight short weeks, the new centralized database was complete. For the CME employees who spend a lot of time visiting customers and prospects, the salesforce.com database has transformed the way they do business. Sendia wireless CRM was implemented via their Blackberry devices so they could have mobile access to customer accounts, contact information, and calendars. It eliminates the need to carry a laptop computer, enoables them to enter information while away from the office, while the knowledge is fresh in their minds, and enhances their time management abilities. Because CME customers are offered the option of subscribing to over 25 electronic newletters, Model Metrics simplified the subscription management process. They created integration between CME's website/subscription portal and salesforce.com, so self-service additions and changes are now possible. A double opt-in workflow was built into the process utilizing ExactTarget, an email software solution for permission-based e-mail marketing. Additionally, customers can now update their personal profiles stored within CME's central database. The final element of the integration solution was the use of ExactTarget for the deliver of newsletters, communications, and registration for special events. The integration of ExactTarget with salesforce.com also addressed the requirment to share e-mail marketing activities and results, so CME employees could have access to this important customer relationship knowledge. Results After working with Model Metrics, CME is now experiencing the functinality of salesforce.com in a variety of ways. Internally, they are capturing and sharing valuable data across their organization, increasing productivity, more effectively executing marketing communication and business strategies, and have implemented the necessary infrastructure to ensure continued growth and success. Externally, they continue to strengthen relationships and empower their customers. From start to finish, it took Model Metrics approximately eight weeks to rollout salesforce.com, and another eight weeks to create and implement the integration to Blackberrys, email marketing utilities, and its website. This foundation will be instrumental in defining the marketing department's next steps, which include better targeting and segmentation of customers, more dynamic contact, and a proactive lead generation system.