L&T Mutual Fund has introduced a new digital platform to facilitate referral marketing to mutual fund distributors.
Through this platform, MFDs can send a formal note to their clients along with a link that captures information of prospective clients on real time basis. The highlight of this initiative is the unique link that is created for each distributor with his email address.
In a note sent to Cafemutual, the fund house said that it is not very easy for many distributors or financial advisors to ask their clients for references of their family or close friends. While some may be natural at it, it may be difficult for some to ask for their customers' referrals. This is in part because the referral system is largely an informal and unsystematic process.
Understanding this challenge of its distributors, L&T MF has buit an online system that helps distributors reach out to their clients for referrals in a more indirect and efficient manner. This offering aims to make the process more organized and inclusive, thus bridging the gap between the distributor and prospective investor. The program focuses on creating a seamless referral system where the leads that are generated go directly to the distributors, said the fund house.
Kailash Kulkarni, CEO, L&T Mutual Fund said, “It’s a widely known fact that a referral is a key to the door of resistance. We have initiated this program to help our distributors scale up their business through referrals leads. This program has been largely focused on serving the industry. It is an ongoing long-term business initiative with an aim to bring more investors under the umbrella of professional financial planning."
The fund house will give training support to MFDs to help them understand the platform. To start with, the fund house will offer this facility to select distributors and eventually extend it to more distributors. The company targets to include all active distributors through this initiative.
Distributors who wish to participate in the ‘MFD Referral Program’ can write to L&T Mutual Fund at partner.line@lntmf.co.in.
