Go-To-Market Strategy: How Saxo Bank Is Dupping the Competition by Appealing to Younger Investors

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As Danish wealth management looks to grow its customer base, it is turning to social media and value-based marketing efforts.

There is increasing evidence that more and more millennials are interested in building wealth. According to a December 2021 study from CommBank, 43 per cent of millennials are investing money rather than spending it. The most popular investments among this age group include property and shares.

Marketing to young audiences can be difficult. Copenhagen-based Saxo Bank sees millennials as one of its growth opportunities. The bank’s SaxoInvestor platform, launched in Australia earlier this year, is geared towards younger investors, according to the bank’s chief experience officer Camilla Dahl Hansen.

Dahl Hansen points out that “the younger generation are navigating the whole social media space and are following fin-influencers.”

He observes, “we see a generation that has lost trust in the traditional authorities and are listening to peers and the people they can relate to. That is something we are trying to utilise a lot more. We have very much adjusted to our audiences.

Dahl Hansen’s strategy is also Saxo taking advantage of TikTok, starting with a trial run with customers in Hong Kong. In Australia, Saxo is giving players rewards for watching ads during their gameplay.

Dahl Hansen notes, “The view-through rate is at 97 per cent, with a considerably higher click-through rate than all of our other channels,”. He explains how this provides an opportunity to tell their story and create a positive brand association for users when they receive rewards in-game.

Another critical element for bringing in young investors is to offer products with a transparent connection between the investment and a good outcome. 

The SaxoInvestor platform in Australia helps guide investors toward investment opportunities that match their interests, values, and goals. They include ESG-focused investments, women-led businesses, renewable energy projects, and green transformation initiatives. 

There is also an Islamic investing option available.

These activities result in positive outcomes for Saxo. The percentage of new female clients has increased from 19% to 27% since 2019. 

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