- Impact
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What if you do an outbound and you get a reply that says, "How much?"
How do you reply to that?
Here are some of the things that could potentially be harmful for us as sellers:
1) Quote is too high - If the quote is too high, the buyer would think that you are asking an immense amount of money and overcharging for the domain. And hence, may outrightly reject the offer with "No Thanks!"
As hard as you try, they don't usually come back. A lot of them have lost trust in your business right then and won't make a deal even if you bring the price down.
2) Quote is too low - The buyer accepts and you leave money on the table. You don't have much option but to close the sale at the price that you quoted. Sorry, but you just got underpaid for a domain, for which, you could have got at least 10-20% more value.
What is the right strategy?
I think the right strategy is to make the buyer quote his or her ballpark figure. Since you did an outbound and know who the buyer is, background research on the size of the company, the value that they get from the domain name etc. it gives quite a lot of idea as to what to quote as your figure. Besides, you have their offer as well, to get a reference from (although there is a high possibility of anchoring bias here).
So my question is,
How do you turn around the question and let the buyer quote their number first?
When they ask how much, what would you say?
How do you reply to that?
Here are some of the things that could potentially be harmful for us as sellers:
1) Quote is too high - If the quote is too high, the buyer would think that you are asking an immense amount of money and overcharging for the domain. And hence, may outrightly reject the offer with "No Thanks!"
As hard as you try, they don't usually come back. A lot of them have lost trust in your business right then and won't make a deal even if you bring the price down.
2) Quote is too low - The buyer accepts and you leave money on the table. You don't have much option but to close the sale at the price that you quoted. Sorry, but you just got underpaid for a domain, for which, you could have got at least 10-20% more value.
What is the right strategy?
I think the right strategy is to make the buyer quote his or her ballpark figure. Since you did an outbound and know who the buyer is, background research on the size of the company, the value that they get from the domain name etc. it gives quite a lot of idea as to what to quote as your figure. Besides, you have their offer as well, to get a reference from (although there is a high possibility of anchoring bias here).
So my question is,
How do you turn around the question and let the buyer quote their number first?
When they ask how much, what would you say?