Understanding Customers to Better Advertise Travel Insurance
Context
Travel Assured is a travel insurance company. Due to the COVID pandemic, they have had to cut their marketing budget by over 50%. It is more important than ever that they advertise in the right places and to the right people. Travel Assured has plenty of data on their current customers as well as people who got quotes but never bought insurance.
Questions
- Are there differences in the travel habits between customers and non-customers?
- What is the typical profile of customers and non-customers?
Methodology
After importing all my libraries and the csv file into a Jupyter Notebook, I answered the questions above and more through Python code. I also visualized my findings using the Matplotlib and Seaborn libraries. Lastly, I designed a PowerPoint presentation to present my work and resulting recommendations.
Findings
- A third of travelers purchase travel insurance.
- Average customers make more than 1 million dollars and average non-customers make 300K less.
- Customers are more likely to work in the private sector or be self-employed, have traveled abroad, and be frequent flyers.
Recommendations
- Target frequent flyers who have traveled abroad, travelers who make more than $1.4M annually, and large families with 6 or more members.
- Advertise in airports and airport lounges, as well as rich neighborhoods near parks, schools, and daycares.