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Acquiring new clients is the lifeblood of distribution business as it fuels growth and ensures long-term success.
In today's market where MFDs compete big ticket direct plan platforms, it's essential to adopt an approach that combines traditional strategies with innovative techniques.
In this article, we spoke to two MFDs Ankush Thukral from Thukral Capital, Bhadohi, UP and Rahul Jain, GR Finvisors, Udaipur, Rajasthan who share with us some tips to acquire new clients.
Ankush Thukral
Be open to talk to new people
MFDs should not shy from talking to new people. Where ever I go be it airport or barber shop, I talk to strangers. Usually it starts with general topics like politics, cricket or weather. Once I sensed that the other person is getting interested, I askee him about his work profile. Naturally, he asked me about my work. This opened gates for me to talk about the benefits of mutual fund investing.
Encourage financial education in schools
One activity that has helped us get recognition and give back to the society is running a scholarship programs at various school. Under this initiative, we give some financial support to a few students who do well in academics. This activity has helped us connect with school staff, teachers and parents.
Do some marketing activities
Hosting local events such as marathons, cricket tournament or any local events can help you connect with new clients. You should spend some amount in these events to get visibility among local people.
Rahul Jain
Organize educational sessions with groups
MFDs should regularly conduct educational sessions for small groups like clubs, housing society, doctors and so on. These sessions can help you reach out to prospects and showcase your expertise in the field of finance. However, you will have to do multiple follow ups to convert them into clients.
Leveraging social media
MFDs should leverage social media platforms to promote awareness about mutual funds. Creating reels on platforms like Instagram and YouTube can help you connect with large set of audience. In fact, I acquired a few clients from outside India because of social media.
Attend all social gatherings
MFDs should attend all social gatherings. I never miss an invitation from friends and family members. This gives an opportunity to meet new people, increase awareness about mutual funds and highlight your work.
