Impact of Below-The-Line (BTL) Tools on Investor Behaviour toward Green Investment: A Study in Sri Lanka

Abstract

This study examines the impact of Below-The-Line (BTL) marketing tools on investor behaviour towards green investments in Sri Lanka, focusing on targeted strategies such as social media, direct marketing, sponsorship, and public relations. By highlighting personalised communication, BTL tools are designed to influence specific investor groups, thereby driving greater engagement with sustainable financial products. Green investments are increasingly important in addressing global challenges such as climate change, resource scarcity, and promoting sustainable practices. In this context, understanding the role of BTL tools is crucial on increasing investment in environmentally friendly and socially responsible projects. The research adopts a quantitative approach, using a structured questionnaire distributed among a sample of diverse investors in Sri Lanka to identify how BTL strategies shape their behaviour. The data collected was analysed to assess the relationships between key variables such as emotional appeal, trust, and perceived value. The findings show that there is a strong positive correlation between the use of BTL tools and interest in green investments. Social media stands out as a very effective tool for generating awareness, especially among the younger investor demographic. Direct marketing further strengthens the connection between investors and sustainable financial products by providing personalised content and clear communication. Sponsorship and public relations are complementary in building trust and credibility, especially through engagement with ethical causes and initiatives. Despite its significant findings, the study is subjected to limitations. Firstly, it focuses only on the Western Province of Sri Lanka, which limits the generalisability of its findings to other geographical regions. Potential biasness in survey responses driven by limited awareness of green investments or personal beliefs may also affect the reliability of the data. Differences in technology use across regions further limit the broad applicability of the study’s recommendations. The findings of this study offer transformative implications for financial institutions, policymakers, and marketers, filling a critical gap in the literature on the application of Below-the-Line (BTL) tools in green investment promotion. While existing research often highlights generic strategies, this study emphasises the necessity of tailoring BTL tools to align with Sri Lanka’s unique socio-cultural and economic dynamics. Financial institutions can leverage these insights to implement culturally and demographically relevant campaigns that directly address investor-specific challenges, such as limited awareness and risk perception. For policymakers, these results support the development of awareness programs that not only align with national sustainability goals but also connect deeply with local investor behaviour, fostering greater participation in green finance initiatives. Unlike previous studies, this research underscores the importance of personalisation, transparency, and emotional appeal in BTL strategies to build trust and enhance motivation among investors. Moreover, by integrating sponsorship and digital platforms with offline marketing, financial institutions can effectively fill the gaps in engagement and communication highlighted in past literature. Future research should explore the scalability of these findings in diverse international contexts, enabling a broader understanding of how customised BTL approaches can drive sustainable investment behaviour across markets.