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Business growth is a function of multiple factors. However, there is usually one factor that stands above all and is the principal growth driver. To understand such key drivers, Cafemutual reached out to MFDs PAN India who shared business strategies instrumental to their business success.
Each MFD brought to the table their personal experiences and took us through simple yet effective practices that boost their business.
Aniruddha Bose of FinEdge, Gurgaon, Haryana
Driver - Non-sales-centric approach
Benefits - It makes clients feel cared for and nurtures client loyalty
We follow a non-sales-centric approach and keep clients’ well-being first.
After identifying investment preferences and financial aspirations, we chalk down a customised financial roadmap which solely aligns with clients’ interests. Doing what is right for them regardless of its business impact, fosters an environment of trust and makes clients feel cared for. This goes a long way in creating a loyal client base.
Chokkalingam Palaniappan, Prakala Wealth, Chennai, Tamil Nadu
Driver - Accommodative and flexible schedule
Benefits - Encourages investors to make timely decisions and gives them a sense of importance
With busy work schedules and other commitments, investors are heavily occupied these days. This at times leads to procrastination in financial decision-making.
We thus fix up meetings to match their schedules and also check the preferred mode of meeting i.e. physical, telephonic or digital. Such flexibility gives investors the comfort to discuss at their convenience and make timely decisions. It also conveys to them that their interest comes first and provides them a sense of importance.
Rahul Jain, GR Finvisors, Udaipur, Rajasthan
Driver - Social media reels and short videos
Benefits - Establishes a emotional connect and makes prospects eager to meet you
I use social media to create visibility. Engaging and topical reels/small videos grab viewers’ attention and each viewer is a prospect. In addition, I share these with my existing clients on WhatsApp, who usually forward them to relatives and friends. This in turn draws a larger number of prospects.
As prospects see more of these, the visibility becomes stronger. It not only makes them eager to meet you but also sets a positive tone for meetings.
Shifali Satsangee, Funds Ve'daa, Agra, Uttar Pradesh
Driver - Regular educational sessions
Benefits - It widens the pool of potential clients and boosts brand visibility
We conduct educational sessions at universities, factories, government and public organisations, start-ups, rotary clubs, societies, etc. Regular sessions like these not only help to reach out to a diverse audience but also increases brand visibility.
Additionally, sponsoring events that support social causes and writing articles for different publications earns more visibility.
Viral Bhatt, Money Mantra, Mumbai, Maharashtra
Driver - Networking at events
Benefits - It makes your presence felt and opens up new business opportunities
Networking is the key. I attend conferences like Cafemutual Confluence to meet like-minded people and other industry participants. Small talks about hobbies, work experience, etc help to break the ice. However, it is important to show genuine interest in the other person to let the conversation flow naturally.
Attending such events regularly expands my professional network and makes my presence felt. Additionally, it builds new business relationships and opens the doors to professional partnerships.
