Welcome to this week in marketing. My name is Jason Pantana. You're host today. I am the moderator of this conversation, and I'm glad you've chosen to watch this episode because it means you're of the mind to crush it this summer and to avoid that summer slump if you're new to the channel, please make sure to smash that big red subscribe button and there's a bell right next to it. If you tap that it turns on notifications. So whenever we publish new videos and new conversations just like this, you get notified. You're the first to know and therefore the first

to act upon it. So without further ado, let's dive into this week's conversation. The coach I speak of is my friend, my colleague, Mr. David Colwell, David, how are you, man? Good man. I'm super good. Thanks for having me today. Yeah, I'm excited. So I was talking with David on the phone the other day. And I was like, we should be podcasting because the conversations we have together are I believe tactical, practical and useful. So we're going to try our best today to bring a phone conversation to life through this podcast.

And it's all centered around this idea of how do you avoid the summer slump and what are the opportunities that a lot of agents and teams are overlooking. So I'll kick it off with the question.

David, from your vantage point as a coach and also as an owner operator of your own brokerage, where are you directing your clients to focus their efforts and attention in terms of lead generating like now and across the summer.

I think all year my focus has been on how do we create productivity instead of purchase productivity. So many teams are getting their PNLs just eaten by buying and buying and buying and buying and buying and trying to buy those bottom of the funnel opportunities versus taking a step back, being tactical and creating opportunities that exists in their database.

Okay. So let's define database for everybody listening and watching.

So for me, database, there's multiple components. There's layers of it. There's past client. So why there's leads I purchased. There's people that I've met.

It's a culmination of everybody. And I think we can segment it. But I know today we're going to get in and talk about a particular strategy, equity reviews, which I think you can offer to anybody, but they are certainly best with people that we know.

All right. So just to recap what you said, you believe there's a problem right now where folks are spending tons of money on a bottom of funnel lead, let's define that too. So we're talking about the customer journey a traditional sales funnel where there's a top middle bottom of funnel upside down triangle.

And it signifies the level of intent that a customer is potentially ready to transact and there's top of funnel middle of funnel bottom of funnel.

And bottom of funnel is the best to get. It's just harder to get. And I often call those stages, not bottom top and middle. I call them walking jogging running to personify and bring to life.

The mentality of that lead, whether it's a buyer or a seller, are they in a state of their walking. They're just kind of, you know, open like stretching out. They just woke up. They're exploring the possibilities of maybe

transacting. Are they jogging? They're picking up pace. That's the middle of funnel. So to speak, they're researching fact finding.

Should we do this or that? Or are they bottom of funnel? They're in market to make a decision. It doesn't mean they're realistic or anything like that. It just means that their mentality is

I got to go, go, go, go. And so if you're focused on only bottom of funnel leads where effectively there's no rapport.

There's there's no relationship intact. It requires a lot of strength and skill to convert that lead. And it's fine. I'm certainly an advocate for bottom of funnel leads. But your point is there's an over emphasis on bottom of funnel at the expense of what your database you say. So elaborate more on that for us.

Well, if we go back to what you're just talking about, people are running and then they're jogging and then they're walking and then they're running again because the news cycle and what's happening in the economy and in the markets right now is taking people forward and backwards. They come to us and they want to buy a house and they don't.

They want to sell a house and then they don't want to go from a $600,000 house to a $750,000 house until I realize what my new payments going to be because I'm going to trade my 3% rate for a 6.5% rate.

And what I'm finding is people are putting, you know, they're overmarketing the market. I'm overmarketing the market in my own business. But there's overmarketing the market with a long-term emphasis and the remark in the market with short emphasis. We were just talking about a particular lead source that I've been working that in 2021 was profitable in 2022 was not in a 2023 has cost me a very large annual mortgage payment, basically.

So for me, it's time to pivot out of that particular lead source and focus on creating opportunities with the people that know like and trust us or the people that have an awareness of us that already have been our database already on our email list.

We look for the best realtor and then read the reviews of your customers saying it's you are looking to double down on those market channels to make sure to check out our courses marketing throw. They talk about all three subjects email marketing, social media video, local SEO through Google. There's a link in the description with more details.

All right. So database, you know, I think about what Tom fairy says, Tom always says there's two groups of people. The people you know and they know you and the people you don't know and they don't know you.

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