Young Turks brings you India�s young entrepreneurial talent from the length and breadth of the country. Young Turks tutorial gives a young start-up a chance to be mentored live on television. The YT Buzz will tell you everything that is hot and happening in the world of entrepreneurship.
Girish Batra makes money by getting you to make money. He started Net Ambit in 2000. Essentially, it is a company that retails financial service products. Today, he sales everything from insurance schemes to pension plans to mutual funds. He has got about 4000 employees and is spread across 150 locations. He has got Rs 100 crore in funding and is looking at going public until 2014.
Girish Batra is the one who created Net Ambit, a financial services company that has turned in revenues for over Rs 100 crore since its launch in 2000. His company has 1.5 lakh customers every year on its platform. Now, Girish has plans to take Net Ambit towards Rs 350 crore venture and also explore a potential listing by 2014.
From being a salesman going door to door to building over Rs 100 crore financial services venture, Girish Batra has come a long way. Breaking away from the traditional sales approach, Girish believed that an efficient selling technique was just a phone call away.
Cold calling potential customer to sell financial services products, Girish along with his co-founders launched Net Ambit in 2000. Retailing insurances, home loans, pension plans or credit cards, Net Ambit plans to dial in turnover of Rs 160 crore by this fiscal.
CNBC-TV18�s Shruti Mishra hits the road to find out more about Girish Batra and Net Ambit.
Below is the verbatim transcript of the interview. Also watch the accompanying videos.
Q: What made you believe that the combination of retail and financial services would work?
A: We realised as an organization that there is a big gap in the market. The financial services sector was opening up and there were lot of products and brands available in the market. It was a new experience for Indian consumer who are largely being used to dealing with PSU Banks or PSU life insurance companies.
We thought it would be a good idea to try out financial services for market model, wherein we would reach out to the consumers and explain to them what those products are all about and offer them the options.
Q: Why is there a need for a third party like Net Ambit, because financial institutions themselves have a reach to their own consumers? Why the need to partner with you?
A: If I wouldn�t take a home loan and walk into a bank branch, I would get to see only the particular loan that the bank is offering. There are internet savvy consumers today who can go to internet and compare various brands, whereas for a typical tier-II, tier-III or tier-IV town consumers who is not internet savvy, our company comes into the picture.
Q: Have you created a one stop shop for financial services products? How do you push customers? How do you target your customers that this particular brand will work for them? How do you sell particular policy to your customers? Is there any arrangement for that?
A: We are brand agnostic. We give options to the consumers. We aware the consumers about the pros and cons of every brand available with us and then, we let the consumer help in deciding what brand suits them the best. We don�t push any specific brand, be it on the insurance, mortgage or the corporate FD side.
Q: Forbes has called you the kings of non-affinity. How do you go and get a client?
A: Forbes has referred to our direct marketing model, wherein they have referred to us as kings of non-affinity, which is a very unique model. We have call centres which work on a cold database, wherein we take anybody. We believe that every Indian household needs some kind of a financial product.
Any cold database, any name and number is good enough for us. We call out on those numbers and try to assess the need for the consumer or their family. There is a process involved in making a very high quality lead. There are multiple rounds of discussion with the consumer.
Once our supervisors believes that it is high quality lead, that lead is then sent to the market to our feet on streets. They meet the client as per appointment. We get as high as 50-60% conversion on those leads. We have more than 200 members strong co-sales service team which focuses on this.
We ensure that there is no inconvenience caused to the consumer. We do the complete coordination like fixing an appointment with the doctor or with the consumer. In most of the cases, our person will go with the consumer to the doctor�s place for getting the medical start.
Source http://www.moneycontrol.com
No comments:
Post a Comment