When broking business is started off we get clients from our existing advisor business module. The most important factor to focus is not getting clients from advisors but retention of those clients introduced by the advisors. The biggest place of our mistake is that we don’t focus on clients and only on advisors. We need to take care of both the sides. Giving tips by the broking companies will not enable retention of clients. What we need to do is that what other don’t don’t do. Now this might sound complicated but its very simple. Every company in the broking industry provides tips, sms facilities and designed portfolio management modules .

We need to create a close relation with the clients. Now one will say that we already do these types of works since our sales force is constantly in touch with the clients. Here we need to change and think differently. If that sales man leaves the company with zero clients or 60% of the clients goes off with the sales man and finally the company suffers. Its all resources which got invested in the past session plummet suddenly to zero levels. We arrange training session for advisors. Why don’t we arrange session for clients where market discussion and investments strategies are being discussed? The top revenue generating clients can be brought under one roof and discuss their investments appetites. This will bring all the clients close to the company and less in the hands of the advisors.

We prepare and spend host of resources on equity research reports. I can bet that none of them gets to the ultimate client. Why no to sit with those reports on Saturdays with clients and explain the affects and prospects of the markets in the coming sessions. We need to understand that more the company tries to come close to the clients the more revenue you can generate since communication gap gets reduced and transparency in deals becomes highly effective. For the top generating clients higher level strategies of investments and portfolio management should be given and meeting session should be held.

Now in the managerial levels the company top notches needs to support the weaker revenue generating branches. They need to bring new clients and not to be dependent on the sales force strength for a longer time. Now if that’s the situation then why we should have sales force when the top notches needs to be on the street. Simple reason to explain is to generate more revenue and more monopoly in the market. Sales force alone work and support of top notches will make a huge difference.

We should not focus on CLIENT ACQUSITION. We should change the game plan and out look and change it to MARKET PENETRATION. We need to rectify another place of our business setup is that during appointments of dealers and sales force. We know that broking houses are under margin pressure of revenue income. Once the closeness of the relation is achieved then multichannel marketing will result to volume increase and hence margins will be no longer under pressure. Increase penetration and develop the atmosphere the rest will create history.

Sales force can be any one since they will be groomed and the company needs to invest some resources for grooming them to be the best. But incase of dealers its just the opposite need the best in my dealing room. Since, they will be given no grooming and direct trade with the clients. We need stringent recruitment process for dealers since they are engines who will bring the growth. Differentiation of performance is created by employees and staff. They create the brand and an atmosphere of Discipline is required to achieve the growth. Once we focus on improving the relation between the company and clients and keeping less dependent on sales force the penetration level of the company increases and also the business growth. Your clients will market for you and will lead to multi channel marketing. What we need is to strengthen the basic.