Digital Marketing Channel and Celebrity Endorsement Analysis of Online Mutual Fund Purchase Decisions with Mutual Fund Performance Mediation

This study aims to analyze the mediating role of mutual fund performance on digital marketing strategies, namely social media marketing and celebrity endorsements, as well as sales strategies through mobile applications run by investment manager companies, in order to increase mutual fund purchase decisions online in the form of increasing the number of investors and growth mutual fund products. The independent variables are: (1) social media marketing; (2) celebrity endorsements; and (3) mobile applications, while the dependent variable is a mutual fund purchase decision with mutual fund performance as mediation. The population and sample in this study are mutual fund investors who have purchased mutual fund products. This study's population included 123 participants. The SEM-PLS analysis technique is used, and the following research findings are obtained: (1) Social media marketing is not proven to have a positive and significant impact on mutual fund performance; (2) mobile applications are proven to have a positive and significant effect on mutual fund performance; (3) celebrity endorsement is not proven to have a positive and significant impact on mutual fund performance; (4) mutual fund performance has a positive and significant effect on mutual fund purchased decisions online; (5) mutual fund performance does not mediate the relationship between social media marketing and mutual fund purchased decisions online; (6) mutual fund performance mediates the relationship between mobile applications and mutual fund purchase decisions online; (7) mutual fund performance does not mediate the relationship between celebrity endorsement and mutual fund purchase decisions online.