Model Development of Customized Marketing Strategy based on Credit Card Data and Social Big Data
Myungki Nam1, Jangmook Kang2, Sangwon Lee3

1Myungki Nam, Department of Big Data, National Information Society Agency, Seongnam, Republic of Korea.

2Jangmook Kang, Department of Big Data & Industry Security, Namseoul University, Cheonan, Republic of Korea.

3Sangwon Lee, Department of Computer & Software Engineering, Institute of Convergence Creativity, Wonkwang University, Iksan, Korea. 

Manuscript received on 05 March 2019 | Revised Manuscript received on 12 March 2019 | Manuscript Published on 20 March 2019 | PP: 450-454 | Volume-8 Issue- 4S2 March 2019 | Retrieval Number: D1S0098028419/2019©BEIESP

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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Abstract: In the Big Data era where data analysis generates new value, there is an increasing demand from Credit Card companies to utilize both external social data as well as internal data to develop their marketing strategies. This new research has triggered new marketing model called SOMO(Social Trend Oriented Marketing Offer). SOMO combines internal data, which includes customer profile and transaction data, with external social data, which includes customer spending preferences and desire. Credit Card companies are able to offer a new customized marketing strategy based on specific consumer groups, each group having been analyzed through this model according to different consumption trends. Moreover, this research is currently testing this model’s influence by providing actual card company customers with customized marketing offers. Card companies can analyze both card data and social data in tandem, with “the type of business” entered as a key factor. Then, the company initiates two rounds of marketing to BC Card holders to verify the effect of SOMO model. Based on the results of marketing, the company then further builds a more effective marketing strategy.

Keywords: Big Data, Social Data, Credit Card Data, Marketing Science, Marketing Strategy.
Scope of the Article: Big Data