Submitting an internship report on "Customer Relationship Management Practices of Singularity Limited" is a great honor. Sarker Rafij Ahmed Ratan is my own work and draws solely from my experience at "Singularity Limited." All information in the report has been verified as authentic and all information extracted from other sources has been correctly cited. Increased customer loyalty, higher customer retention rates and increased customer lifetime value are just some of the benefits highlighted in the study that Singularity Limited achieves through its CRM methods.
However, the research also highlights several ways in which Singularity Limited can improve its CRM processes, including personalizing communications and optimizing the use of data analytics. The analysis shows that Singularity Limited's CRM strategies generally foster fruitful customer relationships and drive the company forward.
INTRODUCTION
- Background of the Report
- Objectives of the Report
- Motivation of the Report
- Scope and limitations of the Report
The title of the report I have to write for my internship is "Customer Relationship Management Practices by Singularity Limited." My internship at Singularity Limited lasted a total of three months and was successfully completed. It gives me great pleasure to discuss the impetus behind my decision to write a report for my internship on the CRM processes used by Singularity Limited. During my internship, I worked closely with the Singularity Limited team and learned about their CRM system and how it impacted their business.
Scope: The purpose of this study is to assess the effectiveness of CRM practices of Singularity Limited (a digital agency) in achieving company goals and maintaining satisfied customers. It is likely that the results of the reports may not accurately reflect the state of Singularity Limited's CRM practices in light of developments since the time the study was conducted.
COMPANY AND INDUSTRY PREVIEW
Company Analysis
- Overview and history
- Trend and growth
- Customer mix
- Product/service mix
- Operations
- SWOT analysis
Singularity Limited takes the time to get to know their clients' brands in advance, enabling the company's clients and employees to collaborate and develop the ideal marketing strategy in the early stages of the creative process. Singularity Limited recognizes the importance in today's marketing of offering unique experiences that connect seamlessly with digital and social media platforms. The fact that Singularity Limited places such a strong emphasis on breaking through barriers and venturing into uncharted territory has enabled the company to offer customers experiences that are unique and unforgettable.
The move towards integrated marketing efforts is another factor that has contributed to the expansion of Singularity Limited. Singularity Limited's genuine relationships, hard work, rigorous planning, creative thinking and meticulous preparation have helped them succeed in the competitive experiential marketing industry. Due to the trend towards more personalized and engaging brand experiences, Singularity Limited is well positioned to continue their rapid expansion and success.
Singularity Limited expects its target market to consist of a diverse range of business types. When it comes to their business activities, Singularity Limited offers their clients a comprehensive selection of experiential marketing services. Below, we will examine Singularity Limited from the perspective of its strengths, weaknesses, opportunities, and threats.
Singularity Limited is equipped with a talented group of creative professionals and strategic thinkers who are experts in providing their clients with unique and effective solutions to their problems. Singularity Limited is well positioned to take advantage of the growing demand for experiential marketing services as a result of the increased emphasis companies place on creating immersive experiences for their target audiences. Due to the rapid technological innovation, the services provided by Singularity Limited are at risk of becoming obsolete.
Industry analysis
- Specification of the industry
- Size, trend, and maturity of the industry
- External economic factors
- Technological factors
- Barriers to entry
- Supplier Power
- Buyer Power
- Threat of Substitutes
- Industry rivalry
However, it has been expanding at a healthy pace in the past few years due to the increased awareness of the value of marketing among businesses in Bangladesh. An external economic aspect that can affect a marketing agency in Bangladesh is the growth rate and consistency of the economy as a whole in the country. Bangladesh is classified as a developing country and its economy has been steadily expanding over the past few years.
The changes in the value of the Bangladeshi taka will impact a marketing agency in Bangladesh that serves customers or acquires goods from other countries. In the event that the value of the Bangladeshi taka falls compared to other currencies, it is possible that it may become more expensive for the organization to purchase goods or services from other countries, which could have an effect on their bottom line. In conclusion, government laws and regulations in Bangladesh can also impact marketing agencies.
For example, it is possible that changes to tax laws or labor regulations will have a material impact on the operations of the agency as well as its profitability. Despite the fact that starting a marketing agency is not particularly difficult and offers a lot of leeway, there are still some barriers to entry that aspiring business owners can overcome. In the context of a marketing agency, the agency itself may also have some power as a supplier, particularly in terms of the services it provides to clients.
This flexibility can be a useful selling point for the agency, and it can also give them some leverage when it comes to pricing and the terms of the contract. Relationship with the Agency: If the brand already has an established relationship with the agency, they can have more influence in the negotiations because they have a better awareness of the agency's strengths and limitations. Degree of Differentiation: The degree to which marketing firms offer distinctive and original services can have an effect on the competitiveness of the industry.
CRM PRACTICES OF SINGULARITY LIMITED
Steps in CRM Practices
Collect and analyze customer data: To better understand their target population and personalize their marketing campaigns accordingly, Snularity Limited invests a significant amount of time in collecting data and analyzing customer behavior, preferences and needs. Build and maintain strong relationships: Singularity Limited places a high priority on establishing and maintaining strong relationships with their clients and customers at all times. Provide personalized experiences: Singularity Limited provides individualized services to each of their clients and customers to increase the likelihood.
Provide multi-channel engagement: Singularity Limited makes a variety of communication platforms available to their clients and customers, such as email, phone, social media, and chatbots, to provide their clients and customers with a streamlined and hassle-free experience. Monitoring and Responding to Customer Feedback: Singularity Limited makes it a practice to routinely monitor customer feedback and promptly address any concerns or issues that may arise to cultivate the trust and loyalty of their customers and clients. Singularity Limited has seen significant growth in customer satisfaction, customer loyalty and revenue as a result of implementing effective CRM practices.
These practices have helped them better understand their customers, build strong relationships with them, offer personalized experiences, ensure convenient and seamless multi-channel engagement, and monitor and respond to customer feedback.
Assessment of CRM practices
INTERNSHIP EXPERIECNE
- Position, duties, and responsibilities
- Training
- Contribution to departmental functions
- Evaluation
- Skills applied
- New skills developed
- Application of academic knowledge
Additionally, I was responsible for managing the company's social media platforms, creating and publishing engaging content to increase brand awareness and engagement. I also monitored and analyzed social media metrics to track the effectiveness of our campaigns and identify areas for improvement. Creativity: When I was in charge of the company's social media platforms, I came up with interesting content that the target group would enjoy.
Social media management: I learned about social media marketing and administration by overseeing the company's social media accounts. I am now better equipped to develop engaging content, promote my brand, and evaluate the success of my social media efforts. Some of these responsibilities included working with client proposals, administering social media platforms and conducting market research.
My studies in this field have equipped me with the knowledge and ability to operate a wide variety of software programs, including those used for creating presentations, analyzing data, and managing social media accounts. 35 My academic background in brand management has been an invaluable asset when it comes to managing the social media platforms used by the organization. My studies in social media marketing gave me a solid understanding of the strategies and tactics of social media marketing, which helped me develop effective content, connect with followers and track the success of social media campaigns .
Understanding Marketing Management allowed me to optimize Singularity Limited's campaigns and measure their success across the company's many social media channels. Furthermore, the marketing and communications classes I took in college helped me become an efficient manager of the social media platforms used by my employer. I was able to create social media campaigns that increased both brand awareness and engagement by applying my knowledge of audience analysis, content production, and engagement tactics to create these campaigns.
CONCLUSIONS AND KEY FACTS
Recommendations for improving departmental operations
It is much easier to avoid misunderstandings and delays in project implementation if communication is clear and concise. Singularity Limited may invest in training and development programs for its staff members to help them improve their skill sets and stay up-to-date with the latest developments in their field. This will ensure that the team is well prepared to face new problems and deliver quality work.
Singularity Limited can develop a project management solution that helps in the management of projects in a more efficient way. It will be much easier for the team to keep track of project progress, keep critical dates in mind and properly allocate resources as a result.
Key understanding
Conclusion
