Jodhpur MFD Rajesh Tatia of Nidesh Guru has successfully logged in 301 SIPs amounting to Rs 5 lakh on November 9. Over 100 investors participated in this drive. Let’s look at his story in his own words.
Nudge
Many Indians prefer to invest on auspicious occasions. So, I named my SIP drive 'Iss Diwali, SIP wali'. Further, Sunday marked Ravi Pushya Nakshyatra, which is considered auspicious to invest or purchase anything. Hence, I encouraged my clients to do SIPs in mutual funds in this occasion.
Preparation
I have more than 6000 clients and most of them are retail investors. I have created a calendar of occasions throughout the year to conduct SIP drives. Investment before Diwali is one such occasion.
To begin with, my team looked at clients who were interested during our earlier SIP drive in June but couldn't invest then for some reason.
Next, we looked for existing clients who have the potential to top up their investment. We use a software which tells us how many investors have not topped up their SIPs for the last three or five years. We identified such clients and reached out to them through phone calls and physical meetings.
Overall, we approached 300 clients. But this time we have encouraged our clients to do SIP in fixed income funds as well. The idea is to replace bank FD with fixed income funds which offer superior risk adjusted returns.
Learnings
The key to a successful SIP drive is efficient communication strategy. Be it giving a theme to your SIP drive, pitching an auspicious occasion or interacting with clients, you have to be clear on what you communicate to attract clients.
You can create a calendar of occasions to conduct SIP drives.
Also, be ready to cater to different needs of clients and recommend funds accordingly. Don't hesitate to recommend high quality debt funds. Creating happy investors is a long journey. It is not about returns they generate from funds, it is about what goals to be achieved. Your clients will bring more investors if they are happy with you.
