Marketing Analytics broadly refers to the practice of using analytical methods and techniques to understand the effectiveness of various marketing activities and deploy data-driven decisions to optimize for ROI on conversion rates. It typically involves analyzing various metrics around customer engagement with various marketing activities including but not limited to, ATL (above the line) marketing activities, BTL (below the line) campaigns, and targeting personalized offers. Typically the variables of interest are customer profile, campaign conversion rates, and costs associated with various marketing channels. These can generate valuable insights that can help an organization form better marketing strategies, optimize/innovate on delivery, and achieve overall growth.
Company 'All You Need' has hired you as a Data Scientist and you've been told by the Chief Marketing Officer that recent marketing campaigns have not been as effective as they were expected to be and the conversion rate is very low. Your task is to analyze the related data, understand the problem, and identify key insights and recommendations for the CMO to potentially implement.
The data set marketing_data.csv consists of 2,240 customers of the company with information on:
- Campaign successes/failures
- Product preferences
- Channel performances
- Customer profiles based on the spending habits
- ID: Unique ID of each customer
- Year_Birth: Age of the customer
- Education: Customer's level of education
- Marital_Status: Customer's marital status
- Kidhome: Number of small children in customer's household
- Teenhome: Number of teenagers in customer's household
- Income: Customer's yearly household income
- Recency: Number of days since the last purchase
- MntFishProducts: The amount spent on fish products in the last 2 years
- MntMeatProducts: The amount spent on meat products in the last 2 years
- MntFruits: The amount spent on fruits products in the last 2 years
- MntSweetProducts: Amount spent on sweet products in the last 2 years
- MntWines: The amount spent on wine products in the last 2 years
- MntGoldProds: The amount spent on gold products in the last 2 years
- NumDealsPurchases: Number of purchases made with discount
- NumCatalogPurchases: Number of purchases made using catalog (buying goods to be shipped through the mail)
- NumStorePurchases: Number of purchases made directly in stores
- NumWebPurchases: Number of purchases made through the company's website
- NumWebVisitsMonth: Number of visits to the company's website in the last month
- AcceptedCmp1: 1 if customer accepted the offer in the first campaign, 0 otherwise
- AcceptedCmp2: 1 if customer accepted the offer in the second campaign, 0 otherwise
- AcceptedCmp3: 1 if customer accepted the offer in the third campaign, 0 otherwise
- AcceptedCmp4: 1 if customer accepted the offer in the fourth campaign, 0 otherwise
- AcceptedCmp5: 1 if customer accepted the offer in the fifth campaign, 0 otherwise
- AcceptedCmp6: 1 if customer accepted the offer in the last campaign, 0 otherwise
- Complain: 1 If the customer complained in the last 2 years, 0 otherwise
- Country: The country customer belongs to
Data source: Kaggle.com