04.2020 Cover Story
"Project Window" of Far Eastern Plaza Hotel, Taipei helps to see the new blue sea
Far Eastern Magazine / Editorial Room
In recent years, the concept of "ecosystem" which only appeared in biology has gradually moved into the business field. The "business ecosystem" has broken the industrial boundary, allowing different enterprises to increase their market opportunities and meet more diverse customer needs through close cooperation. In fact, such a concept is not new to the Far Eastern Group, whose industries cover more than a dozen fields. This "cover story" in this issue specially shares how Far Eastern Plaza Hotel, Taipei opens a window of cooperation and creates a win-win situation with affiliated enterprises.
In 1994, FEG built Far Eastern Plaza Hotel, Taipei near the headquarters of Ya Tung department store in Taipei. Over the years, Far Eastern Plaza Hotel, Taipei is not only good neighbor of affiliated enterprises, but also important partner to provide dinners and meetings. With the increasingly diversified industries operated by the group, Far Eastern Plaza Hotel, Taipei also began to think about how to provide more services for the group's affiliated enterprises, and even all the customers of Far Eastern Group, so as to give full play to the group's synergy.
In view of the connection between Far Eastern Plaza Hotel, Taipei and affiliated enterprises, B to B businesses are in the majority. Businesses occasionally extend to the consumers, but lack of systematic and long-term cultivation, so consumers can’t get extended services. Therefore, from September 2018, Far Eastern Plaza Hotel, Taipei launched the "Project Window", set up an inter-departmental team. At first, they reviewed internal resources and integrated consensus, and then developed group's affiliated enterprises’ service contents externally. The first wave of cooperation targeted the financial system and retail system. In addition to the enhancement of B to B cooperation, it further extended to B to B to C service, making the ecosystem of Far Eastern Group become an indispensable life center for consumers and creating greater benefits.
Seeking common points in differences and establishing effective communication mode
The key to the success of cooperation is effective communication. The project team knows that in the case of limited human resources, it is necessary to seek internal consensus first, so as to further overcome the differences between industries and start a dialogue in a common language. Therefore, the project team used 3A marketing concept to establish 12 communication channels and modes:
1. Account based marketing, it includes catering department window, marketing business department window, VIP service window and strategic partner window.
2. Affiliated marketing, it includes cooperation with retail groups and financial services, communication with vocational welfare associations of companies of Far Eastern Group, extending brand value to consumers of affiliated enterprises through strategic cooperation, integrating and participating in internal and external information of affiliated enterprises.
3. Analytical marketing, it includes quarterly statistical reports of the transactions between the affiliated enterprises and the hotel, monthly reports of the cooperation project with Far Eastern International Bank, implementation of the correction system after the study of each report, and focus on group marketing, such as all kinds of VVIP, wine lovers, etc.
Extended services give full play to synergy and create a win-win situation
After the communication is in place, the synergy between the hotel and the affiliated enterprises of the group is gradually brought into play, which not only brings more diversified services to the customers of Far Eastern Group, but also creates the reciprocal extension of various brands. Among them, “Robert Parker - Matter of Taste”, an international grand dinner and wine event launched in June last year, was an excellent demonstration of the synergy of the brand. This event was introduced by Far Eastern Plaza Hotel, Taipei exclusively. Far Eastern International Bank and Pacific SOGO Department store also participated in it and a series of activities such as "dinner with dinner", "wine tasting" and "wine tasting course" were held. In addition to making the group's VIPs and top customers feel proud, it also gained international fame!
It is also worth mentioning that since 2018, the hotel, together with “Marie Claire”, the international fashion media, has held the "Final of the Dress" activity, and invited Far Eastern International Bank to support and sponsor. It takes into account the fashion and creativity, and carries out the FEG’s tenet of rewarding and promoting the young students. This activity has become the annual design award that people are looking forward to under the word of mouth of the students (especially the departments related to clothing design, visual modeling and art aesthetics). Meanwhile, Far Eastern Memorial Foundation and Far Eastern International Bank, which had made great efforts in the field of education, have further development in public welfare through this activity.
In addition, Far Eastern Plaza Hotel, Taipei, takes the initiative to show commodities at the headquarters of Ya Tung department store during each important event instead of waiting for colleagues to enter the hotel passively. The staffs are invited to experience personally, or preferential publicity is sent. During all festivals, such as Dragon Boat Festival and Mid-Autumn Festival, staffs can enjoy the delicacies carefully prepared by the hotel nearby, and get exclusive discounts. The practice of "good-neighborliness" is highly praised. In addition, the happiest thing is that since the end of 2018, Far Eastern Plaza Hotel, Taipei has provided special discount of 15% off in wedding banquet for group staffs in Taipei, Tainan and Mega50. So far, many couples have enjoyed the discount.
Department store is also a battlefield that can’t be ignored by hotel. In the gift magazine of Far Eastern Department store, there are always two major promotions of Far Eastern Plaza Hotel, Taipei and Far Eastern Plaza Hotel, Tainan; Pacific SOGO Department Store also makes good use of the hotel's strengths, provides more VIP services, and cooperates with the hotel to develop Facebook content for community users, such as Chef A Yu of Shang Palace’s teaching of traditional Chinese rice-pudding in the city’ super SOGO Fuxingguan, and SOGO Facebook editor will make live broadcast and have interaction; the bartender demonstrated the special blend film in SOGO Facebook on Valentine's day to create online topics. Not only that, the hotel also sells meal tickets on the spot to promote consumption by participating in SOGO party Week activities.
On the other hand, in addition to event sponsorship, the cooperation between the hotel and Far Eastern International Bank also focuses on credit card projects and wealth management, including Far Eastern International Bank's credit card promotion of monthly selected delicacies, wealth management customers can enjoy special offers, etc.; and the cooperation with FET focuses on the promotion of special offers and the sale of prepaid cards; the cooperation with HAPPY GO is the cooperation of content and market research.
Through various cooperation modes, the results of the project are reflected in the operation figures: the total revenue of Far Eastern Plaza Hotel, Taipei, grew by 41%, the total revenue of Far Eastern Plaza Hotel, Tainan grew by 17%, and the sale of traditional Chinese rice-pudding during Dragon Boat Festival also grew by 67%, which is undoubtedly a tremendous affirmation for the project team. However, the most gratifying thing for the team members is the synergy of the group, which opens another window of experience for the customers of the affiliated enterprises, and also gives the service of the Far Eastern Group a chance to enter the life of more consumers.
