Research Of Precision Marketing Of Personal Financial Products Of N Bank

Today, commercial banks are trying to transform their concept of marketing from “Product Orientation” to “Customer Orientation” in order to achieve greater competitive advantage. Precision-marketing could provide a set of solutions of products or services to customers for the purpose to reduce the marketing cost, expand sale, increase profit, and enhance customers’ loyalty. However, because financial data have the characteristics such as large quantity, uncertainly, etc, the current precision-marketing strategies are formulated under the lack of scientific analysis of customers and products, thus are of less relevance and have less practical value.The author believes that to carry out efficient precision-marketing should be on the basis of the two important aspects which are customer segmentation and products association analysis. Customer segmentation can help enterprises analyze the various types of customers’ consumption characteristics, and form marketing strategies for different customer groups. Products association analysis can help enterprises understand the potential relationship between the various types of products, and form marketing strategies for individual customers according to customers’ historical records of transactions. To combine the two marketing strategy, enterprises can form a personalized, practical and efficient marketing strategy.First, the author analyzes the present situation of the product marketing system of N Bank, and expounds the shortcomings of the marketing system. Next, the author expounds the idea and method of forming the precision-marketing system of personal financial products based on big data analytics, and expounds the idea and method of forming the precision-marketing model which is the core part of the precision-marketing system. Then, the author expounds the method of forming the customer-segmentation model and the method of customers-products association analysis. Also, the author introduces cluster analysis and association rules. Finally, the author describes the application process of the precision-marketing system in actual marketing process, and makes an evaluation according to the final marketing effect.