Mukesh & Dinesh Tekriwal from Rajasthan and Roopesh Jaitly from Uttar Pradesh have executed successful SIP drives last month.
What are the key factors that made their drives successful? What was their approach?
Let’s hear the answers to these questions and more from the SIP champions themselves.
Mukesh and Dinesh Tekriwal, Tekriwal Financial Services - Jaipur, Rajasthan
Mukesh converted his individual practice into a company in May 2021 along with his brother Dinesh. The brothers decided to make their business inauguration special by executing a drive during the auspicious festival of Ganesh Chaturthi.
The duo booked 121 SIPs on 13 Sep 21 totalling Rs. 3.23 lakh. Here is how the drive was conducted.
- Created list of existing clients and referrals who are small businessowners and self-employed. Tekriwal brothers believe that while salaried individuals contribute monthly to achieve their financial goals, businessmen and self-employed invest their money largely through lumpsum and it is better to do SIPs to benefit from rupee cost averaging
- Met most clients physically to explain to them the benefits of doing SIPs in mutual funds to achieve long term financial goals
- The brother also shared their analysis on wealth creation through SIPs vis-à-vis lumpsum
- After two weeks of meetings, the brother dedicated the next one week for follow up
Key learning:
- Targeting a particular client segment makes it easier for MFDs to create effective communication strategy for SIP drives
Roopesh Jaitly - Lucknow, Uttar Pradesh
Roopesh booked 101 SIPs on 20 Sep 2021 amounting to Rs. 3.25 lakh. Over the last two years, he has executed over 10 SIP drives.
In a routine conversation, Roopesh’s self-employed clients were talking about their business plans and new recruitments. This is when he decided to conduct an online SIP drive, especially for new employees. Here are the key highlights.
- Organised IAPs at clients’ offices and explained the importance of investing early
- Divided prospects into smaller groups and conducted a total of 5 IAPs during the drive preparatory period of one-month
- Shared informative videos and articles with each participant via WhatsApp
- Also reached out to existing clients who stopped their SIPs or did not increase their SIP amount over the last two years
- Ensured periodic follow-ups with the help of his team and collected the required documents in advance
- 75 investors took part in the drive, of which 85% were new investors
Key learning:
- Conducting IAPs in smaller groups helps in giving individual attention to each participant and ensures meaningful engagement
Have you also conducted a successful SIP drive recently? Do share your story of success at nishant@cafemutual.com or karishma@cafemutual.com.
