Prospecting to Seniors

Know the market you want to sell to so you can give them the information they need.

By Matt Fiamengo, CLU, LUTCF, RHU

This may sound obvious, but it’s easier to succeed in the senior market if you work where seniors live. Nevada has the second-highest concentration of seniors, and while most people think of Las Vegas as the only city in the state, Reno has a better climate for seniors than Las Vegas.

All of my prospecting efforts have been focused on seniors. Currently, I host a TV show on the local public access cable channel; I host a radio show; and I write a column for a popular Nevada magazine for seniors.

I’ve been in financial services for 20 years, the last 10 of them focused solely on seniors. After a few years of relying on direct mail and referrals, I started conducting seminars in 2000. By far, seminars are the best way to reach seniors, but only if you have a good delivery and you are straightforward. Seniors know when you’re handing them a line, so if your intentions aren’t pure, they’ll see right through you. To improve your public speaking skills, join a Toastmasters group.

I also advertise in publications I know seniors read. The magazine I write for is called Senior Spectrum. It has more than 60,000 readers. After simply running an ad for a few months, I called the magazine and asked if I could write a column. They saw my writing and realized it was helpful to the readers, so they accepted. So now I’m read by 60,000 seniors.

My expert status also led to my affiliation with the AARP (yes, that AARP) on public access cable TV and another radio show, none of which I pay for. I also received some good press from the Reno Gazette Journal, which wrote a story about me because I offer free booklets of information on my seminars.

I’m a trusted advisor because the information I provide is useful to seniors. I’m an effective advisor because I advertise in spots where seniors are going to be watching or reading, and I tailor my message to seniors. You have to know your audience.

Matt Fiamengo, CLU, LUTCF, RHU runs Fiamengo Insurance in Reno, Nev. He is a member of Northern Nevada AIFA.