In five- and three-year periods, 71-75 percent of small cap schemes have outperformed their benchmarks, but small caps can go through highly volatile periods. Small cap funds manage investor assets worth Rs 1 lakh crore with as many as 24 small cap funds being run by different mutual fund houses.
In the world of investing, it’s seldom easy asking your clients for referrals of their family or close friends as it involves an informal and unsystematic process.
That’s about to change! L&T Mutual Fund has unveiled an industry-first referral program where we have built an online system that helps distributors reach out to their clients to ask for referrals in a more indirect and efficient manner. Our system uses all necessary resources to help you optimize your business and improve the process so that it now becomes easier and more convenient.
People influence people. Nothing influences people more than a recommendation from trusted ones. It can be hard to ask for the sale. Asking for a referral can be difficult and awkward. There are times when pitching for an upgrade or act now not later moments can be used. Even if a lead might not be ready to act, they might be able to refer to others that are.Referrals or word of mouth marketing are cost-effective, powerful, and trusted. When we have a good experience with a brand, product, or service, we’re happy to share it with others.
Referral is a tried and tested client acquisition channel in the financial advisory business. Some mutual fund distributors have been very successful in growing their business through referrals. As a pilot programme, we will be rolling it out to 500 of our distributors initially and will be extended to more distributors. Our target is to include all active distributors through this initiative.
“There is a saying that in sales, a referral is the key to the door of resistance. We at L&T Mutual Fund has initiated an MFD Referral program which is a long term venture to help our distributors expand the business through referrals and make the product experience shareable. This initiative is to help our distributors scale up their business with new leads for them to follow” adds Kailash Kulkarni, CE, L&T Mutual Fund.
The process has been created in such a seamless manner that the leads that are generated go directly to the distributors. The main part about this initiative is that we are creating a Unique Link for each distributor with his email addressembedded. This ensures that leads that are generated through this link only and only goes to that individual distributor. It is a unique link that is only for him/her.
The endeavour here is to position ourselves such that it helps our distributors who are the face of the industry to capture the mindshare of their customers and generate an instant “need” for investing. Our aim is to enhance penetration and channelize small savings into long-term market-linked savings solutions.
This program may have been rolled out with a small number but we assure you that this is a long-term initiative to capture maximum traction. The onus is on us for continuous handholding and prepares suitable action plans who don’t know where to use the Unique Link continuously. We will touch base with distributors to roll out this programme via emails, messages and through the sales teams who will guide the distributors on using this unique link in the correct way. We will soon ask distributors to use this link and initiative on other platforms to widen the reach.
We at L&T MF understand the importance of using tools to help you automate so you can focus in the right areas, maximize exposure and your brand, fine-tuning the areas of focus to keep growing. L&T MF has always helped distributors adapt the digital mode, innovate and scale-up their business through various initiatives in the past few years.
There’s no business like growing business, so join the MFD Referral Programme today and let us help take your business to new heights.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.