CLIENT NAME: Aditya Birla Sun Life AMC Limited
Campaign started: April 2019
Campaign ended: July 2020
Created at: August 24, 2020
ABSLMF is committed to deepening mutual fund penetration in the country by enhancing the appeal of mutual funds across a wider set of investors and advisors across India.
ABSLMF truly believes that Independent Financial Advisors (IFAs) are their most important partners towards the achievement of this goal. Independent Financial Advisors have provided yeoman’s service to the ever-growing investor class in India. They impart advice to their clients on investments in mutual funds and other financial products, and aid in execution of the same. The pivotal role that they play in the mutual fund industry cannot be denied.
However, given the intense competitive nature of this industry, the need to establish ABSLMF as a preferred partner for these IFAs – while giving them much deserved recognition for their extraordinary drive was paramount.
The Privilege Club channel loyalty program is a first-in-its-segment, structured, engagement rewards and recognition program, through which we extend our reach across this diverse base of channel partners across the country. The Privilege Club honours exemplary IFAs for their tireless efforts and their unique contribution to the mutual fund industry and our organization. And we will not stop there – continuous efforts will be made to ensure that our IFAs are empowered to achieve greatness, not just professionally, but in their personal lives as well.
The three pillars of the loyalty programme are:
1. PROFESSIONAL ENRICHMENT
2. PERSONAL FORTIFICATION
3. POWERFUL ENGAGEMENT
1ST PILLAR: PROFESSIONAL ENRICHMENT
Up-skilling with Management Development Programs:
The Privilege Club advocates continuous professional development, which involves training and developing professional knowledge and skills through independent, participation-based or interactive learning. This form of learning allows professionals to improve their capabilities with the help of certified learning.
Therefore, in collaboration with the most renowned institutes in the country, we provide custom designed certification courses to our most promising IFAs, to enable them to stay several steps ahead in an industry rife with change.
Comprehensive & Robust Business Support Platforms:
In today’s day and age, smart technological benefits can prove to be extremely useful tools to the independent financial advisor. They come with many advantages:
• Helps IFAs in demystifying the complexity of finance for their investors
• Enterprise grade features to build brand value with investors
• Capable of supporting the extended needs of a business that wants to scale up
Social Media Support and lots more with AnchorEdge BrandEdge M-Biz+:
We currently live in a world in which traditional advertising strategies aren’t enough. Social media not only allows for tremendous outreach and networking, but also allows for interactivity that can be very beneficial to businesses for a variety of reasons.
That’s why Privilege Club believes that social media can be a powerful tool for financial advisors to build their presence in the market and foster lasting and loyal relationships, with customers and prospects. Our tie-up with AnchorEdge aims to resolve common questions in the advisor’s mind, regarding social media and content marketing.
2ND PILLAR: PERSONAL FORTIFICATION:
Here, at the Privilege Club, quality care for the IFAs and their family’s health, retirement and mental wellness is a priority. For this we offer the following benefits:
1. Medical Insurance for the IFA and their spouse and children upto INR 8 lakhs.
2. Life Insurance for the IFA upto INR 1.5 Cr
3. Golden Age Plan: Under this plan, a part of the monthly brokerage will be contributed towards a pre-selected scheme and Aditya Birla Sun Life AMC would also contribute 5% of the monthly net brokerage, over and above monthly commission, to ensure that you enjoy a carefree retirement
4. Up to 3 scholarships for their children for their pivotal years: 10th, 12th and College Graduation.
5. Business Cards and Stationery that add great credibility to the Independent Financial Advisor and serve as a testimony to our association with them.
3RD PILLAR: POWERFUL ENGAGEMENT
Celebrating Women on Mother’s Day: Facebook Live Talk Show #WhatMomsNeed :
The objective of the initiative was to Celebrate Motherhood and Celebrate Womanhood with the gift of care and knowledge.
The Privilege Club brought in 3 experts for a live chat covering Physical Health, Mental Health & Financial Health of mothers in the new age at different stages of motherhood.
Encouraging IFAs to open up on Father’s Day:
The objective of this initiative was for the IFAs (father’s only) to present a comprehensive financial dossier to their children to aid as a consolidated documentation of all their financial holdings and assets. It served a dual purpose:
1. Engaging the father – A way to share the legacy he has created for his children
2. Enlightening the children – To understand the love and insight with which their Dad has provided
for them and to have information readily available for them in case of unforeseen circumstances
Keeping the IFA’s Health in Check via Country-wide Health Camps:
A healthy mind and body are something that we often take for granted. All it takes is a little bit of attention on our part and good health is not that far from what one imagines. This is the message that the Privilege Club’s Health First initiative drives into the IFAs. Since past 2 years we have successfully conducted numerous health camps across India.
The Privilege Club has created its own property called ‘Health First’ which is a first of its kind initiative in the industry.
• Over 40 health camps conducted Pan India.
• The camps offer basic health, dental and eye check-up.
• For Medical Insurance, we have covered over 18000+ members (6000+ IFAs & 12000+ family members) and settled over 1900+ claims worth Rs. 9 Cr.
• For Life Insurance, we have covered 4800+ members with a total coverage amount of Rs.600 Crs.
• We have also awarded 1000+ IFAs children with merit-based scholarships worth Rs. 1.52 Crs.
• Our Mother’s Day Facebook live talk show gained 566K views, 4.1K reactions, 96 shares, 92 comments
• 1900+ IFAs and their families attended the medical camps conducted within the year and 97% gave superlative feedback
• For the Father’s Day campaign, we received 532 entries of which 193 were personally awarded a participation memento.