In this Power Producers Podcast episode,
David Carothers discusses the fundamentals of
prospecting and building a successful leads list. Drawing from his own experiences and 20 years in the industry, he emphasizes the importance of starting with a strong foundation and avoiding the temptation to rely too heavily on technology and automated lead-building tools.
David also highlights how using
underwriter insights and
geography-specific databases can unlock hidden opportunities in your market.
The episode provides actionable tips for producers, including how to leverage public records, county databases, and specific industry niches to build a robust prospecting system. David encourages agents to think beyond the typical marketing tools and instead focus on finding unique, untapped business opportunities by using the data available right at their fingertips.
Key Highlights:
Back to Basics: Building a Leads List
David stresses the importance of
demographics and
ideal prospect identification when building a leads list, highlighting that the fundamentals haven’t changed in 20 years, no matter how much technology evolves.
Leveraging Underwriters for Niche Markets
David recommends asking underwriters what business classes they’re good at but not receiving many submissions for. This often leads to discovering
underutilized niches that can become high-opportunity areas.
Using Local Databases for Prospecting
David shares how he used local
county databases to identify
manufacturers who were likely to need insurance, providing a competitive advantage. He encourages producers to research local
public databases like property appraisers and occupational licenses.
The Importance of a Sustainable Prospecting System
David highlights the benefits of building a
long-term leads list, focusing on sustainability rather than quick wins. His system has led to years of continued success, proving the value of investing the time upfront.
Technology vs. Traditional Prospecting
David compares the rise of
prospecting software tools like Leo and Buy Edge with traditional methods, warning that while these tools can improve
efficiency, the foundation of building a strong prospect list still relies on
manual work and
research.
Why the Foundation Matters
David shares his personal story of starting from scratch, building a
high-value prospecting list through hard work and research, and how this has continued to pay dividends throughout his career.
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