Prospecting Widowers

[miller2032]

Hello All,

You'll have to bare with me as I'm new to the forum. I'm hoping someone can point me in the right direction here...

I left a successful, 5 year, career as a bank financial advisor back in August. With the movement in the bond market over the past 3 years, and given the nature of bank clients, I found that I was doing more harm than good (on the securities side). I tried to map out a way to sell only insurance products AND stay at the bank, but the comp structure and "suggested" product mix just didn't make it a viable option. So I decided to ditch the FINRA licenses and go out on my own as an insurance agent with my primary focus being the senior market.

To make a long story short I had a wide variety of success closing deals (insurance, annuities, and securities) in the bank environment. I averaged $900k in annual revenue at the bank (approx 4% margin ~ $22.5M sales volume annually). I've been able to develop my presentation and closing skills with literally 4-6 appts/day, 6 days/week, with zero vacation over the past 5 years. Where my skills lack is targeting a market and beating the pavement. I'm coming to realize that practically all the agents I look up to have a niche that extends deeper than just "the senior market."

My hope is that my niche market will be senior men who have experienced the loss of their spouse (widower). I've always had a soft spot for the little old man who genuinely needs help. I'd love to be able to identify and prospect this demographic, then go out and help, but have a couple questions:

1. Am i getting too specific with the niche i want to work?
2. What possible avenues are out there to research data on this demo in my state?
3. Is this a niche that is highly saturated with agents?
4. If anyone has any insight or comments on prospecting this demo please feel free to comment.

Thanks in advance!
-David

 

[xrac]

Hello All,

You'll have to bare with me as I'm new to the forum. I'm hoping someone can point me in the right direction here...

I left a successful, 5 year, career as a bank financial advisor back in August. With the movement in the bond market over the past 3 years, and given the nature of bank clients, I found that I was doing more harm than good (on the securities side). I tried to map out a way to sell only insurance products AND stay at the bank, but the comp structure and "suggested" product mix just didn't make it a viable option. So I decided to ditch the FINRA licenses and go out on my own as an insurance agent with my primary focus being the senior market.

To make a long story short I had a wide variety of success closing deals (insurance, annuities, and securities) in the bank environment. I averaged $900k in annual revenue at the bank (approx 4% margin ~ $22.5M sales volume annually). I've been able to develop my presentation and closing skills with literally 4-6 appts/day, 6 days/week, with zero vacation over the past 5 years. Where my skills lack is targeting a market and beating the pavement. I'm coming to realize that practically all the agents I look up to have a niche that extends deeper than just "the senior market."

My hope is that my niche market will be senior men who have experienced the loss of their spouse (widower). I've always had a soft spot for the little old man who genuinely needs help. I'd love to be able to identify and prospect this demographic, then go out and help, but have a couple questions:

1. Am i getting too specific with the niche i want to work?
2. What possible avenues are out there to research data on this demo in my state?
3. Is this a niche that is highly saturated with agents?
4. If anyone has any insight or comments on prospecting this demo please feel free to comment.

Thanks in advance!
-David

You like little old men???????

 

[goillini52]

You like little old men???????

.

 

[miller2032]

Ha! Maybe I should rephrase... I've found more enjoyment in listening to old men vs old women.

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I also need to clarify that I don't mean to prospect older people who are grieving from a recent loss, ie ambush the obituaries... I'm wondering if this is a feasible market to approach. Is there a way to get lists of seniors who's spouses have passed maybe not so recently? Maybe public records? I don't know, my apologies if this thread is not constructive. Thank you for any insight you may lend.

 

[Jerard]

I don't think you'll be able to get a list with the demographics you are seeking. However, the one to ask would be Josh, here on the forum. Be patient, he'll wonder in here before long.

 

[Josh]

I also need to clarify that I don't mean to prospect older people who are grieving from a recent loss, ie ambush the obituaries... I'm wondering if this is a feasible market to approach. Is there a way to get lists of seniors who's spouses have passed maybe not so recently? Maybe public records? I don't know, my apologies if this thread is not constructive. Thank you for any insight you may lend.

If you're looking for a list of older single women, that's a piece of cake. Just shoot me an email and I can run you a count, [email protected].

With respect to the thread being constructive or not, most threads on here with any amount of discussion certainly add value. This is at least as productive as most of the threads

 

[Jerard]

If you're looking for a list of older single women, that's a piece of cake.

That's just what I need. Do they come with photos?

 

[Josh]

That's just what I need. Do they come with photos?

Of course
.