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Jay Prakash Yadav conducted two successful SIP drives and collectively booked over 300 SIPs.
Let us hear Jay’s story in his own words.
Acquiring new clients for SIP drive
We met many prospective clients largely through referrals. We dedicated our first meeting to understand clients better. We did not talk about products in initial meetings and asked a lot of questions. We followed 80:20 rule i.e. 80 % time to listening and 20% to asking questions.
In the very first meeting, we fixed up a time for follow up meetings to discuss SIPs. In the follow up meetings, we helped them identify financial goals and recommended to them to start SIPs to achieve this.
We also informed them about our drive and encouraged them to start their journey by participating in the drive. They also found comfort in SIP drive as they saw so many people doing SIPs in a single day.
Increasing wallet share from existing clients
We maintain a client database which captures details like their demographics, risk-taking ability/capability, investments, details of last communications, etc. Based on this, we shortlisted clients to whom we have not reached out for over a year.
We sought meeting with them and spoke to them about the importance of increasing SIPs to achieve financial goals faster.
The power of two
My wife Sangeeta and I work as a team. While I look at client engagement, Sangeeta takes care of all backend operations. Her support in data entry, document checking, marking meetings in calendars and so on helped us conduct two drives successfully.
We booked 266 SIPs amounting to Rs. 4.75 on Apr 11, 2022 and 101 SIPs of Rs. 2.75 lakh on May 9, 2022. A total of 202 investors participated in both these drives. Almost 85% of them were first time investors.
We conducted two SIP back-to-back drives to reduce burden on our team.
Have you also conducted a successful SIP drive recently? Do write to us at newsdesk@cafemutual.com and stand a chance to feature on the Cafemutual website.
