April 9, 2021

Sharekhan as a full-service broker constantly strives to enhance customer experience which results in a win-win situation for the customers and the business. Inspired by the quality of work being done across the Branch Network we have now embarked on Mission Crore Plus. As part of this mission, we aim to add a crore rupees in revenue on each expiry day. This mission was inspired by the success of various branches in the weekly expiry strategy. In this regard, the top three revenue contributors including the Bhuj, Baroda Millennium and Nagpur - Dharampeth branches did outstanding work in March 2021, adding an average of Rs.99K, Rs.91K and Rs.84K revenue on each expiry day respectively. If the rest of the branches of the network also start contributing to the mission in the same way, our Mission Crore Plus will be a huge success.

You have already heard the success story of the Bhuj branch, today let us hear more from the Mission Crore Plus warriors, Ashok Parmar, our Baroda Millennium Branch Manager (BM) from the cluster led by Anahita Vora, and Chirag Joshi, our Nagpur - Dharampeth BM from the cluster led by Mustafa Pardiwala.

Internal Communications Team (ICT): Congratulations on being among the top three revenue contributors to the expiry strategies in March 2021. How does it feel?

Ashok Parmar (AP): It feels amazing and I'm very glad to see that my branch is consistently succeeding in the expiry strategy and doing well. It makes me and my team feel motivated and getting to this point took a team effort, with each and every member of my team working hard. We've put in a lot of time and effort to make this a success.

Chirag Joshi (CJ): It's a wonderful feeling to see the branch do so well and to see how well our strategy has performed throughout. It takes a collective effort and commitment to our clients in order for them to make money. This has not only motivated the team members and increased their interest in the strategy, but also strengthened our clients' faith in us. Having said that, when extraordinary performances are recognised, the team becomes more energised and motivated to achieve even more.

ICT: What is your sales pitch for the weekly expiry strategy and how do you identify customers for it?
AP: We as a team often share money-making opportunities with clients and after the strategy's first few weeks of success, I realised it offered a good opportunity for clients to make money. So we started profiling clients who were previously doing futures and options (F&O) but are now inactive, clients who are trading in F&O but losing money, clients whose income updation for F&O is pending, and clients who have big portfolios but are doing nothing. We approached those clients personally. We also conducted webinar and explained the strategy's performance while also describing how it operates and the risks involved. Our efforts paid off, as we enrolled nearly 200 clients in the strategy and have been consistently ranking among the top performing branches in the strategy for many weeks now.

CJ: We started identifying customer based on three criteria, the first is a customer who frequently trades options and loses money, the second is a customer with a portfolio and the ability to trade F&O, and the third is a client with whom my team has a strong relationship and who listens to us. After identifying the potential customers, the first thing we do is to explain to them the strategy, how it works and the risks involved. Then, we focus on sharing the strategy's success with them as well as inform them how this strategy can shift their previous working experience with options from pure vanilla to hedge-based working methods. With these actions in place, we also share with them testimonials of the existing customers to enhance client trust in the strategy.

How is the strategy boosting the revenue and client activity of your branch?
AP: This strategy has provided momentum to our branch revenue, which has increased significantly; the revenue of our branch option segment has doubled in the last six months. This strategy not only contributes higher revenue every month but also helps us in activating inactive clients, who are now involved and providing us strong revenue in the other ideas and strategies as well.

CJ: On October 8, 2020, we initiated this strategy with just 36 clients and 448 lots. According to the April 1, 2021 expiry data, there are currently 175 clients enrolled in the strategy, totalling approximately 3,936 lots. As a result, we have almost doubled the daily traded clients count on expiry and seen a 30% to 40% rise in the revenue on expiry days.

Advisory strategies promote kar ke Mission Crore Plus achieve kar, Sharekhan kar.