We conducted statistical experimentation to determine the impact of change in marketing channels from telephone to a cellphone. Our analysis showed that if we reach a customer via cellphone, the chances of term deposit renewal are 24% more than the traditional telephone method. Further, we identified that if we get the customer more than four times, the chances of term-deposit renewals start decreasing. Based on our analysis, we would recommend the marketing teams design future marketing campaigns using a cellphone as a mode of communication and limit the frequency of the call to 4 during the campaign period, maximizing the chances of term-deposit renewals.
Dataset: https://archive.ics.uci.edu/ml/datasets/bank+marketing