Analysis On Marketing Strategy Of Bank A Fund Products Based On Customer Portrait

As typical products in the strategic transformation of the retail business of traditional commercial banks,fund products are not only an important means for banks to generate income through the development of intermediary business,but also one of the symbols of the core competitiveness of the retail business of banks.This new type of intermediary business has the remarkable feature of “four kinds of income for one sale,and the more income for the longer holding period.” It is of great significance to improve the intermediary business income and promote the improvement of business income structure of commercial banks.Fund products are more complex and diversified than traditional financial products,while fund products have a very poor marketing effect due to the single and extensive marketing strategies of fund products of commercial banks.In this paper,a bank’s fund customers and sales data from October 2017 to June 2018 are used as data sources to establish a database through the unified extraction and classification of various data of corresponding fund customers and their transaction indicators,and through the elimination of some invalid data and extreme values according to the data processing.A customer portrait system covering 11 indexes including the four dimensions of customer basic indexes,trading habits,purchase means and fund types is established by using the method of customer portrait.A comprehensive characterization of a single fund customer is realized by depicting the basic characteristics of customers,such as investment strategies,investment diversity,purchase channels,risk types and other attributes.Finally,effective customer classification is realized,i.e.long-tail customers,general-value customers,customers with low-risk preference value and customers with high-risk preference value through K-means cluster analysis method and SPSS software to carry out cluster analysis,data mining and multiple iterations on the preprocessed customer data.Targeted marketing strategies and customer maintenance strategies are formulated respectively based on analyzing the characteristics of the four types of customers one by one.The above research mainly attempts to solve two major problems in marketing: how to identify which fund products customers with different characteristics prefer? And what kind of marketing strategy should be used for customers with different characteristics?The main conclusions of this paper are as follows:(1)Fund client are classified by group with great differences.Bank A’s fund customers are classified into four categories,namely long-tail customers,generalvalue customers,customers with low-risk preference value and customers with high-risk preference value.Each group of customers has completely different characteristics and their preferred fund products and investment habits are also different after the customer portrait model is established through customer basic characteristics,investment strategies,investment diversity,purchase channels,risk types and other attributes by K-means cluster analysis method.(2)Different marketing strategies and maintenance strategies should be adopted based on the characteristics of different customer groups.Different marketing strategies should be formulated according to the customer characteristics of different customer groups.For long-tail customers,pay more attention on online marketing and batch maintenance.For general-value customers,actively carry out customer demand mining and “one-to–one” customer service;For customers with low-risk preference value,take bond funds and other medium and low-risk products as marketing entry points and long-term investment concepts as maintenance points.For customers with high-risk preference value,take diversification of product configuration and respect for customers’ “self-realization” needs as marketing points.Commercial banks are facing increasingly fierce competition in the new competitive situation due to the endless new products and profound changes in customer characteristics and behaviors.The traditional “broad irrigation ”marketing method of commercial banks has been basically ineffective,and they need to take more precise “drip irrigation” marketing.Under this background,it is becoming more and more important to mine customer data,design customer portraits and formulate corresponding accurate marketing strategies.This paper attempts to make a customer portrait of the customer group of a single product,and formulates a targeted marketing strategy through clustering analysis and data mining.This is of great practical significance for the marketing of fund products of commercial banks,and it is also a preliminary exploration for the further development of comprehensive customer portrait and precise marketing strategy.