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Vimal Kharecha and Jignesh Chawda of Gallant Ventures conducted a Navaratri special drive on October 10, 2022. Interestingly, this was their first SIP drive.
Talking about the inspiration behind it, Vimal said, “Jignesh and I are regular readers of Cafemutual. Every success story covered here gives so much learning and motivation.”
The business partners booked 121 SIPs of Rs. 3.03 lakh for 79 investors. Interestingly, of these, 25 were new to the MF industry.
He added, “We conducted our drive basis the learnings from Cafemutual articles.”
Learning 1: Go for a theme-based drive
Importance: Makes it easier for investors to connect and gives your drive a purpose
We designed a Navratri special drive and reached out to investors with the idea of Nivesh Ka Shubharambh this Navratri. In this, we highlighted the importance of starting something meaningfully new during the auspicious festival like Navratri.
Next, we identified investors in the age group 25-45 and spoke to them about creating a retirement corpus. This gave our drive a specific direction.
Learning 2: Data mining
Importance: Helps to reach out to the right set of investors
While we made a few cold calls, there were largely three sources for creating the list of investors to approach.
Existing clients: We shortlisted those who had not increased their SIPs over the past two years.
Referrals: We collated these from existing clients.
Educational session: We conducted a session at an IT company where one of our clients works. This added to the list of our prospects.
Learning 3: Pre-plan activities
Importance: Helps to closely track every development
The drive preparation spanned over the nine days of Navratri. It comprised leveraging social media, client calls, meetings and educational session.
During these nine days, we maintained an excel chart with the details of roles and responsibilities as well as the names of prospects/clients. The chart has a remark column which mentioned every development. It also clearly stated prospects’/clients’ confirmation/indecisiveness to start SIP. This helped us to reach over 100 individuals and decide the next course of action.
Learning 4: Give takeaways
Importance: Takeaways stay in the minds of clients
We explained the 50:30:20 rule to our prospective investors to simply the concept of savings. The formula suggests keeping aside 50% of earnings for needs, 30% for wants and the balance 20% for investments.
For existing clients, we highlighted the performance of their own investment portfolio to make them understand the importance of SIP investing. This set the tone for our next point of discussion i.e. increasing SIPs in proportion to the increase in income.
