MFD Samir Vora of Ocean Finvest, Ahmedabad recently celebrated his seventh years of mutual fund distribution business by conducting a SIP drive. “We wanted to bring in our seventh anniversary differently and this is why we decided to conduct a SIP drive”, said Samir.
Samir conducted the drive digitally on Nov 22, 2021 and did 1151 SIPs amounting to Rs. 29 lakh. Overall, 414 investors including new clients participated in this drive.
Samir shared with us three golden keys to unlock the full potential of a SIP drive.
#1 Leveraging team synergies
Samir reached out to his existing client database by distributing it among seven-member team. Each member was allotted 100 families for calling and explaining the importance of registering a new SIP. Samir stepped in and spoke to these families as and when the need arose. By leveraging team synergies, Samir gave undivided attention to all his clients.
#2 Identifying investor interests
In the course of client interactions, Samir realised that most of his clients were keen on investing in IPOs. However, many missed the bus during the allotment process. Also, his clients showed keen interest in index funds and quant funds. Samir aligned his drive to investors’ interest and offered three categories of equity funds – index funds, quant funds and funds that invest in IPOs.
#3 Timing the drive right
Timing the drive right helps in unlocking its potential to the fullest. Right timings give a purpose to the drive and make it easier for investors to relate. “As the drive marked the anniversary celebration of Ocean Finvest, many investors joined the celebration by participating in the drive”, shared Samir.
To sum it up - Teamwork, simplicity and timing play a crucial role in planning and executing SIP drives.
Is there anything else that you would like to add to this list? Feel free to share your thoughts by dropping a comment below.
