After replying an enquiry...next step please

Ayodeji said:

I got an enquiry email from an IT company in Netherland about a domain that has decent traffic from Germany and over 20% click through rate. I simply quoted a close to 5 figures price but yet to get a response. What's the next move, please?

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Without knowing the domain name, not much can be said other than it's likely you quoted too high without leaving them an opening to make an offer. If it's only been a day or so then I'd suggest waiting until day 3 before you follow up.

[QUOTE="Ayodeji, post: 6381890, member: 990460" What's the next move, please?[/QUOTE]

next move is on them.

don't chase it or second guess yourself

sit tight and be patient,

if they want it, in time, they will reply

Good Luck!

imo....

What's done is done, but I like to engage them before I throw a price out there.

Do a little checking into the company and see how big they are. Do they have 2 employees or 200? What is their annual revenue? Then you will get a better idea about how much they can spend. 5 figures is a lot for a small company.

momentum said:

Do a little checking into the company and see how big they are. Do they have 2 employees or 200? What is their annual revenue? Then you will get a better idea about how much they can spend. 5 figures is a lot for a small company.

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Hey @momentum it's been a long time, good to see you still hanging around!

if Op hadn't initially given them a price, then that advice would be first step.

that's good info have, about whoever is contacting you.

but, do you price the domain according to "their" budget.... or how much "you" want for it?


imo......

Good point biggie. After all, I'm not running a charity here so why should I sell for a lower price to someone who has less than another?

Although...I did discount a domain name I sold to a Church earlier this year. They used it for something church related, and non-profit.

And, I do tend to have less mercy on a re-seller than an end-user as far as discounting.

xynames said:

Good point biggie. After all, I'm not running a charity here so why should I sell for a lower price to someone who has less than another?

Although...I did discount a domain name I sold to a Church earlier this year. They used it for something church related, and non-profit.

And, I do tend to have less mercy on a re-seller than an end-user as far as discounting.

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@xynames

sometimes emotions will affect pricing,

like if you research the potential and find out it's a legit charity or non-profit, ministry, etc, then would you tend to be more flexible with asking price?

and on the other side, you research the potential and find out it's MS, Goog, or some startup with recent funding, do you push the envelope, trying to get the max?

with another reseller, where's the emotion level or with an arrogant inquirer?

which scenario triggers the mind for discount consideration, if any?

or is the price, the price for everybody?

just saying....


imo......

Ayodeji said:

I got an enquiry email from an IT company in Netherland about a domain that has decent traffic from Germany and over 20% click through rate. I simply quoted a close to 5 figures price but yet to get a response. What's the next move, please?

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Some Negotiations can take between 6 to 8 months believe it or not, companies are usually very slow to respond is not like they are sitting around discussing domain names everyday there is a daily business to run so be patient follow up in about 2 weeks if you haven't heard anything. .Try not to be too pushy in your follow up.

When it comes to making domain sales one lesson that I learned is the power of the follow up. The most important thing to do when you get an inbound inquiry is keep their contact information in a notepad or excel and develop the habit of following up from time to time. It can be twice a month or one time a month but make sure you follow up.

In your case you gave them the price now you wait to see what they say but keep track and make sure to follow up in a couple of weeks and see if they are still interested. When I first started one of the biggest mistakes I made was to simply do zero follow up with my inbound leads. This cost me a ton without even knowing.

This is why follow up is so important. Once I started implementing it I began to see more responses, more chances to negotiate and of course more sales.

- Will

The enduser will either eventually counter offer or has drawn the biggest X over your domain and pursue alternatives.

If I was consulting an enduser on buying a domain name from a 'domainer" I would tell them to ice the deal (no contact for at least three weeks) Nothing breaks a person that needs the money more than email silence.

Good Luck

I'm sure those over used keywords "Sorry for the delay in responding" are a domainers response when the incoming offer is just a bit to low. and likewise when the buyer is hoping for a further discount. Two to three days is nothing. Two to Three weeks should prompt a follow-up. But, keep it friendly. A business decision maker often does all the ground work after a sale/purchase has been agreed. i.e., consults fellow department personal, establishes payment criteria etc and he/she still doesn't rush. just like they've ordered a new Kitchen Sink from a supplier

Thank you 'guys' for your advice. I forgot to add that the company is into IT recruitment, IT consultancy, outsourcing developer team etc. So my guess is they emailed on behalf of a client. The domain in question is medical related and a bit german

Yeah, don't complicate things too much.

As @Willox Perez stated above, all we do if they do not respond to us after they inquire on a name is just continue to follow up with them. Set up a follow up schedule either 1-2 per month or whatever works and see if there still interested in your domain name.

Sometimes, they will continue to ignore you...lol. But sometimes they may have gotten busy or w.e and you can restart negotiations.

Goodluck!

-Omar

Many people still have reg fee mentality when it comes to domains

Omar Negron said:

Yeah, don't complicate things too much.

As @Willox Perez stated above, all we do if they do not respond to us after they inquire on a name is just continue to follow up with them. Set up a follow up schedule either 1-2 per month or whatever works and see if there still interested in your domain name.

Sometimes, they will continue to ignore you...lol. But sometimes they may have gotten busy or w.e and you can restart negotiations.

Goodluck!

-Omar

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If your domain is of crap quality by all means follow up, if your domain has end users using lessor extensions, or more generic qualities let them come to you.

You will lose a step in the negotiation by running back to kiss their ass so to speak, if they make a lowball, and you say, sorry, and if they have to come back, well then they already know they have to step up their game, otherwise they are just wasting their own time.

If you have a quality name, surely be specific in your reply to their initial, or counter offer, and then put it on ignore until they choose to reach back out to you.

wwwweb said:

If your domain is of crap quality by all means follow up, if your domain has end users using lessor extensions, or more generic qualities let them come to you.

You will lose a step in the negotiation by running back to kiss their ass so to speak, if they make a lowball, and you say, sorry, and if they have to come back, well then they already know they have to step up their game, otherwise they are just wasting their own time.

If you have a quality name, surely be specific in your reply to their initial, or counter offer, and then put it on ignore until they choose to reach back out to you.

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I get your point but I can't agree. You mentioned "let them come to you". I am letting them come to me, hence the fact that it's an INBOUND inquiry.

I think following up can never be a bad thing. I don't think it's kissing anyone's "ass" either. All I'm doing is following up until they pretty much tell me they aren't interested. It doesn't take much time to follow up with leads also.

Nearly every business follows up with leads.

I like to treat this like a business and follow up with everyone who showed interest in any domain that I own.

-Omar

for incoming inquiries without offers, i'm on the "do not follow-up side".

if i give a price or range in response to that inquiry and they don't counter offer or respond,
then for me, it's basically a tire-kicker.

i'll forget about you faster than toe nail clippings




imo...

biggie said:

Hey @momentum it's been a long time, good to see you still hanging around!

if Op hadn't initially given them a price, then that advice would be first step.

that's good info have, about whoever is contacting you.

but, do you price the domain according to "their" budget.... or how much "you" want for it?


imo......

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Hi Biggie! Still surviving this online game and I'm actually getting active again with this crazy domain game.

Regarding the setting of prices, I take many factors into consideration when negotiating with buyers especially the depth of their pockets and the quality of the domain name. Who contacted who first is also important. The seller obviously has the upper hand if they are contacted by a potential buyer.

NameBio is a good resource for getting a general price range based on the name itself. Also consider the frequency and volume of sales for similar domains on NB. Then consider the estimated budget of the buyer, the level of desperation (if any), your original domain acquisition costs, commercial viability, TLD, age of domain name, keyword competitiveness, etc.

Of course if the buyer asks how I came up with the asking price, I don't normally get into all of these details. I generally just simplify and say that the price is based on the previous sales of similar domain names (Namebio research), Estibot appraisal value (if this is a good value) and/or offers that I have turned down in the recent past.

I got a reply that goes thus
Thanks,we will revert back.
Pls What does this mean? This come after I told them the price.

I got a reply that goes thus
Thanks,we will revert back.
Pls What does this mean? This come after I told them the price.

Kamaldeen said:

I got a reply that goes thus
Thanks,we will revert back.
Pls What does this mean? This come after I told them the price.

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It means they will get back to you. They might or just a way to exit politely.

Update : I just got a price request on the said domain at afternic

congratulations!!!! Was it close to the price you quoted earlier?

Ayodeji said:

Update : I just got a price request on the said domain at afternic

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congrats. it is them... now I will give them same price i gave previously if I were you.

jideofor said:

congrats. it is them... now I will give them same price i gave previously if I were you.

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or wait for more experts to come give you their insight