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Hunters, miners and farmers drive Naik Wealth's growthNikhil Naik, Naik Wealth, Mumbai

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Key Take-Aways
  • Events with no context of money such as those at malls and for kids don't bring in new clients. Those type of events work more for branding rather than marketing purposes.

  • Direct mailers, which worked well in the past, may not work well with current client needs who are looking to meet goals such as retirement planning.

  • Online client acquisition is not easy and it is very expensive. Building the brand within the existing clients is more productive and leads to referrals.

  • Farming is maintaining the existing client base. Hunting is scouting for new clients while mining is thinking ahead of where to prospect. One cannot do all equally and so it works to delegate.

  • Don't focus on market expansion when you are small. Focus on the clients instead and be where they are. Identify your client segment and understand their dynamics.

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