CrediU Marketing Strategy Analysis
Group Project
Background
Experts know that there has been a massive growth of applications. Experts assume this because of the success of the new marketing strategy implemented from the pandemic era (Q4 2020) until the end of 2022. Experts need help to evaluate whether this marketing strategy is successful in attracting more good applicants with lower-risk statuses or not. These insights will help the expert to decide whether the current marketing strategy is worth continuing or not.
Objective
To evaluate the marketing strategy in 2020-2022 and develop a new marketing strategy that can attract good applicants with lower-risk status by using the applicants' segmentation analysis based on the applicants' characteristics, such as education, location, reason when apply a loan, paid ability, and age.
Scope of Work
Project manager, Data Analysis: EDA, cluster analysis, using K-Means, elbow method, silhouette score
Methodology
Data preparation, data analysis, insights and recommendations
Tools
Python, spreadsheet, Looker Studio, Tableau
Important Links
Result
Current Marketing Strategy of CrediU
After conducted the analysis, the data shows that current marketing strategy attracts more high-risk applicants
Marketing Impact Analysis
By gradual decrease the spending ratio of conventional media, and out of the home to 30% and 20% respectively, and increasing the spending ratio of social media to 50% by the end of 2023, we found that the number of applicants with a high-risk profile will decrease to 29%, the applicant with medium-risk profile will decrease to 14%, and the low-risk profile applicants will increase to 57% in the end of 2023.
Insights
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Current marketing strategy attract more high-risk applicants than lower-risk applicants.
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High-risk applicant's education dominated with SD and SMP graduates while low-risk dominated with S1, S2 graduates
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The most reason for loan for high-risk applicant is loan payment .
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High risk applicant dominated all city which the highest in Tangerang. In contrast with Surabaya that have the highest low risk applicant rather than other city
Recommendations
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Because conventional media marketing attracts more high-risk applicants, We need to increase the spending ratio of social media for our marketing strategy, by gradual decrease the spending ratio of conventional media, and out of the home to 30% and 20% respectively, and increasing the spending ratio of social media to 50% by the end of 2023.
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Attract more applicants who have a high education background, with reason to loan for emergency needs, and young age applicants, also applicants located in Surabaya