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Why do individuals invest sustainably? A motivational analysis with marketing implications
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DOI：10.1108/ijbm-12-2024-0765.png)
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Abstract
En 中文
<jats:sec>
<jats:title>Purpose</jats:title>
<jats:p>This paper aims to delineate distinct investor segments based on information-seeking and decision-making profiles, investigating their differential engagement with sustainable investments and marketing-relevant motivations underlying intentions to increase sustainable investments.</jats:p>
</jats:sec>
<jats:sec>
<jats:title>Design/methodology/approach</jats:title>
<jats:p>Based on survey data from 526 German investors, we use latent-class analysis to discern distinct segments of investors marked by specific information-seeking and decision-making profiles in investment choices. Using moderated regression analyses, we explore general and segment-specific predictors of intentions to increase sustainable investments in the future.</jats:p>
</jats:sec>
<jats:sec>
<jats:title>Findings</jats:title>
<jats:p>The findings suggest a segmentation of investors into three distinct classes. In Class 1 (independent investors) decision-making occurs predominantly autonomously, with minimal reliance on professional advice. Class 2 (high-involvement investors) makes decisions independently but actively incorporates advice from their bank or professional advisors. Class 3 (low-involvement investors) exhibits a lower level of engagement in decision-making, relying more on professional advice from their bank. We identify several factors that explain the intention to invest more sustainably, both generally and within specific investor classes.</jats:p>
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<jats:sec>
<jats:title>Practical implications</jats:title>
<jats:p>This paper provides banks with a comprehensive data basis to gain a better understanding of the customer base of investors and offers a variety of strategies to assist with the ideal placement and marketing of sustainable financial products, both in general and specific to segments of investors.</jats:p>
</jats:sec>
<jats:sec>
<jats:title>Originality/value</jats:title>
<jats:p>By analyzing the characteristics of German investors, this paper goes beyond the categorization of motivations for sustainable investing into ethical versus financial classifications, which may oversimplify the intricate nature of real-world investment decisions. Instead, it provides deeper insights into different investor profiles which are essential for customer-specific marketing strategies.</jats:p>
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Keywords:
investor segmentation
sustainable investing
information-seeking behavior
decision-making profiles
marketing implications
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