SIPs have been gaining popularity among investors, thanks to increasing awareness and SIP drives conducted by individual MFDs.
In the recent example of SIP drive, Guwahati distributor Khushbu Jain and Deepak Jain activated 217 SIPs amounting to Rs.7.46 lakh in a single day. Interestingly, all these SIPs were logged through physical mode.
The couple took their inspiration from stories on SIP drive on Cafemutual. “We read SIP drive stories of many mutual fund distributors and decided to achieve at least 200 SIPs in a single day. Reading these stories made us realise that we all have similar resources to excel and if they could do it, so can we,” said the Jains.
Preparation
From January 1, 2020, the couple started meeting existing clients encouraging them to start new SIPs to achieve their financial goals. The couple also asked for referrals from existing clients who had achieved financial goals through them. “Clients are more likely to give referrals if they are happy with you. Hence, we approached our old clients who have achieved their financial goals.”
The couple invited prospects to their office to educate them about the importance of SIPs. The duo used testimonials of existing clients and highlighted difference between returns from SIPs in equity funds and FDs and RDs.
In addition, the couple also conducted IAP sessions for prospects to educate them about SIPs.
Execution
A team of six people started collecting necessary documents to complete the KYC process. Target was to complete KYC of all the clients four days before the SIP drive. Since this was physical mode, AMCs employees also pitched in to punch in the SIPs.
Learnings
The couple said that SIP drive has given them confidence that they can achieve success in business if they make a plan and execute it efficiently. Sharing their experience, the couple said, “We are very surprised to know that many people know about SIPs, thanks to ‘mutual funds sahi hai’ campaign but they don’t know how to invest in mutual funds through SIPs. And when we approached them, they willingly started SIPs. Also, in the process we have acquired 50 new clients.”
The couple plans to conduct more SIP drives in future.
