Have cell display text while being empty

I will try to explain what I want the end result to be. I thought it would be through using conditional formatting, but a user suggested me ask the question over here. I want to have my customer name listed in a certain cell. But when it doesn't have a specific customer name typed in the cell and it is empty, I want it to have the words "Customer Name" in a gray shade. Is this possible? And how is it done?

Thanks