Listen to this article
Chitt Kotecha of Clarity Finvest from Amreli, Gujarat, and Ganesh Banthia from Bikaner, Rajasthan registered over 100 SIPs in a single day in November. They both hail from B30 cities, where the penetration of mutual funds is relatively low.
Let’s hear from them how they managed to conduct successful SIP drives in these cities.
Chitt Kotecha of Clarity Finvest from Amreli, Gujarat,
Chitt along with his father Shailesh and brother Auroanand registered more than 100 SIPs for 61 clients amounting to a total of Rs. 2.71 lakh. Out of 61 clients, 20 were new and most clients came through referrals.
Their team of three worked very hard and made 10 calls each day to prospective clients over a period of 20 days. They also visited a few clients.
Chitt distributed pamphlets showcasing the benefits of SIP in fulfilling long-term family goals like children’s education. Other goals like saving for childen’s marriage, how to save for retirement were also highlighted in these pamphlets. On asking him why weren’t convenient modes like WhatsApp used to send out messages, Chitt said, “We sent out pamphlets so that the whole family can have a look at it and more people participate in the drive.”
Chitt holds SIP drives once every 2months to create awareness around SIPs.
Ganesh Banthia, Bikaner, Rajasthan
Ganesh successfully conducted his first ever SIP drive this November. He managed to register 602 SIPs for 370 investors amounting to a total of Rs.7 lakh. Out of the 370 investors, 170 were new, 100 were investing for the first time and the rest were existing clients.
Ganesh along with his wife started preparing for the drive 30 days prior to the event. He began by calling his existing clients and told them the changes that were needed in their existing portfolios. Through referrals from his existing clients, he added over 70 new clients.
He got another 100 new clients by approaching government offices where he held meetings with the employees to bring about awareness regarding SIP. He specifically targeted government institutions as employees here have a regular flow of money and it is easy for them to do SIPs on a long-term basis.
He conducted 14 sessions over a period of one month and in these sessions, he would talk about basics of the mutual funds. Ganesh says, “I would bust myths around the markets by providing relevant data and producing newspaper clippings showcasing the long-term benefits of SIPs.”
After every session, he would also visit people and clear their doubts. On a few occasions, he called his existing clients to talk to the new prospects and share their experience.
All the SIPs were registered physically by Ganesh this time. He has decided to go digital next time to ensure more participation.