Atul Prakash Kotkar, Roopesh Jaitly and Naresh Kumar recently conducted their SIP drives.
While Atul and Roopesh have conducted multiple drives, Naresh conducted his first SIP drive.
Cafemutual spoke to the SIP heroes to know the recipe for a successful drive. This is what we have gathered from our conversations.
Atul Prakash Kotkar of Sampanna Nivesh, Ahmednagar, Maharashtra
Plan of action: I reviewed portfolios of my existing clients on 4 parameters - safety, goals, liquidity and tax efficiency and identified investment portfolios which were lacking any of these parameters. The idea was to pitch SIPs in debt funds to clients who had not invested in them or recommend ELSS to clients who had not invested in them to save taxes. I met over 50 clients to have a detailed discussion about their investment portfolio and explain to them the benefits of SIPs.
The Pitch: I regularly write articles on social media and in local newspapers. This gets me visibility and helps me widen my reach. Further, using ‘SALT’ as an acronym, made it easier to connect with investors. I give then an analogy of salt which goes like this “जिस प्रसार नमक के बिना खाने में स्वद नहीं, उसी तरह SALT - safety, affirmations (i.e. goals), liquidity and tax efficiency के बिना investment meaningless है.”
Outcome: Overall, 40 clients participated in SIP drive. I did 101 SIPs amounting to Rs.4 lakh. I would like to thank my wife Dipali for her support. She played a key role in executing this SIP drive through her rigorous follow up with clients and co-ordination with team members.
Roopesh Jaitly, Lucknow, Uttar Pradesh
Plan of action: I made a list of clients who for some reason had not participated in my previous SIP drives. This time, I approached them to encourage them to start new SIPs to reach their financial goals faster.
I kept a record of all these clients on Excel by putting details like date of calling, response to my call, date of follow ups and so on to prepare my action plan.
The pitch: I started preparing investors for the upcoming drive by sending them periodic mailers and broadcast messages on the importance of increasing the SIP amount. Since the beginning of this new year, I encouraged them to start a new SIP to celebrate financial wellness in the new year. Regular mailers, messages and follow-ups created interest in my SIP drive.
Outcome: Overall, 111 SIPs of Rs. 2.45 lakh were booked. More than 75 investors participated in the drive.
Naresh Kumar, Madhubani, Bihar
Plan of action: Global economies offer opportunities that are not available in the domestic markets. While there is limited awareness about mutual funds in my town, everyone has a smartphone and they know about global companies like Facebook and Google. In fact, a few of them have shown their interest to invest in them.
Hence, I reached out to my existing clients and referrals with an idea of investing in international funds through SIPs.
The pitch: I explained to them about benefits of doing SIPs in international funds by simplifying jargon in local language. I feel that people are interested in investing in mutual funds but they do not understand the product. If someone can simplify investments for them, they are more than happy to invest in mutual funds.
Outcome: Overall, 59 clients have started 59 SIPs in international funds amounting to Rs.1.10 lakh.
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