The second ‘Principal Business Champions’ contest got an overwhelming response from the IFA community.
As part of this joint initiative of Principal Pnb Mutual Fund and Cafemutual, we have invited entries from IFAs across the country on business development topics that has helped them grow business. We shortlist the entries based on the quality of ideas and run a voting exercise to pick up winners.
While we have received 7000 votes from IFAs on www.cafemutual.com, our Facebook page and Twitter handle saw a whopping 15,000 page views and 2,700 impressions respectively.
Here are the inspiring referral marketing stories that got the highest votes.
Winner on Facebook: CK Amritkar, Aurangabad: The older the clients the better the quality of reference
I have seen an almost 25% growth in my business through referrals.
I usually ask my clients for references after they have stayed with me for at least six months. The older the clients the better quality of reference.
I also ask my clients to bring at least one friend when I conduct IAPs. This has helped me get referrals and acquire new clients.
Currently, my AUM has crossed Rs.150 crore.
Winner on Twitter: Naik Wealth: I ask my clients to bring at least one friend to IAPs
Referrals have been an integral part of our marketing strategy since inception. Almost 60% of the business is through referrals. Apart from asking our clients for referrals, we conduct regular seminars where we ask our clients to bring a friend with them. Since we firmly believe that like-minded people often stay together, this technique has helped us meet our clients’ friends who are either in similar life stages or with similar outlook.
We also ask our clients if they can arrange for us to conduct a workshop in their company/association. For instance, we have been successfully conducting workshops with doctor associations through our doctor clients.
At Naikwealth, we are very clear about one thing - satisfying existing clients. Though business expansion and on-boarding new clients are also important, we do not let this interfere with the quality of service we provide to our existing clients. In many cases, our dedication to ensuring client satisfaction has prompted many to refer us.
Winner on Website: Jayant Vidwans, Vidwans Financials: Writing columns helped me get referrals
Writing columns and articles in various newspapers has helped me get referrals. Most of my clients discuss my articles with their friends and family members.
However, before sharing my articles, I make sure that my clients have some material from me that they can share with their circle of influence. This will help your client convince his friends to contact you. This activity has helped me gain credibility and increased my visibility. Many people ask my clients for my number and get in touch with me.
In addition, I identify clients who have been with me for more than four to five years and ask them if they can refer me to their friend or family members. In most cases, such clients do not have a problem sharing contact details.