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$30K domain sale made possible by LinkedIn followup

Labeled as strategy in Domain Selling and Domain Sales, started by Rob Monster, Feb 17, 2020

Replies:
75
Views:
6,168

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Do you regularly use LinkedIn for for any of the following?

  1. Outbound prospecting

    44.8%
  2. Prospect followup

    19.4%
  3. Public relations or Thought Leadership

    20.9%
  4. For industry news or trendwatching

    32.8%
  5. Other

    25.4%
  6. This thread is stupid

    14.9%
Multiple votes are allowed.
Total: 106 vote(s)
  1. Mister Funsky

    Mister Funsky Top Contributor VIP

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    Just wanted to say that everyone in any position of selling (which we do every day whether domainer or not...it's part of being human) should sear this in his/her mind. True words of wisdom you posted. Showing a buyer how the investment will improve their position is a necessary step in closing a retail deal.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    You are absolutely right there. It could just as easily have been a $250K moonshot. The price agreed here was about what the buyer could afford -- it was truly their maximum at this time. The seller would not accept less and the buyer could not afford more and did not want to finance. So, it was a win-win and RJ left some on the table but got good ROI. The reason for sharing the example is that deals like this are out there in abundance but you have to get to the person with budget authority to truly know what is possible.

    At the end of the day, I am delighted that RJ got his ROI. I am equally delighted that the buyer got a world class brand name to power their modestly-funded tech venture. I believe THAT is what makes domaining truly awesome. Great domainers don't SQUAT. They add value by earning a return while adding value. And sometimes that value means being a bit philanthropic, e.g. gifting a domain to someone who could do a lot more good with it than we can. Sometimes it just means leaving a bit on the table while still booking a win.
     
  3. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    Sure thing.

    If you know the decision-making authority is with the CFO, then ping the CFO and be congratulatory about the initiative of the sponsoring executive for their interest in their domain. A CFO will typically care about ROI. A CFO might appreciate knowing that there are financing options. A CFO might appreciate knowing that in the USA, you can amortize a domain over 80 quarters (20 years).

    If you know the CEO is contemplating a massive re-brand, and there is some Board member that is holding up the train, ping them and offer to have a conversation about why that domain might be accretive to shareholder value. A Board member actually has a fiduciary duty to not overlook an indisputable opportunity to increase shareholder value. A particularly egotistical Board member also may need a reason (new logic or new data) to change their (dogmatic) position, i.e to save face and not look like a flake to their fellow Board members.

    As always, we add value by connecting dots, building credibility and solving problems.
     
    Last edited: Feb 17, 2020
  4. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP Gold Account Trusted Blogger

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    Congratulations to @RJ on the great name and sale (and for starting NamePros :xf.smile:), and to @Rob Monster and Epik for role in seeing the deal to completion and telling us about it. This makes me even more convinced to act on one of my 2020 resolutions to get active again on LinkedIn!
    Bob
     
  5. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    I just accepted a pile of LinkedIn connection requests. I am happy to do so.

    If you friend me, just mention your NamePros user name in the connection request.

    Thanks!
     
  6. ddzc

    ddzc Established Member ★★★★★★★★★★

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    Great tips, thank you for sharing and congratulations on the sale of level7, great domain.
     
  7. RJ

    RJ Version 2004 PRO VIP ★★★★★★★★★★

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    I acquired Level7.com from a SnapNames auction on September 21, 2007 for $622. This was a 12.4 year hold with an ROI of 4,289% (annualized ROI 35.59%).

    There have been approximately 30 inquiries from about 20 interested parties over the time I held it. Inquires have been from a variety of business types: an apartment complex, a software company, a cannabis company, and a few other startups. My asking price has fluctuated between $27,000 and $50,000. I declined a $10k offer in 2019, a $10k offer in 2017, and a $20k offer in 2010, all from different parties. (And many other offers <= $1000)
     
    Last edited: Feb 17, 2020
  8. rh2000

    rh2000 Upgraded Member Blue Account

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    2007? You have some serious patience.
     
  9. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    And he has GREAT record keeping.

    We are working on adding some tools for managing ROI, and I am now reminded to discuss with RJ about those plans since he probably has in his mind the perfect system.
     
  10. boker

    boker Top Contributor VIP

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    Thanks, great extra info. I would have been comfortable to pay around $100 and I would have taken the 20k offer from 2010, so this is why I was saying that we could learn from others. I wonder if you have lot's of investments like this one and if you are confident that you will receive the right price eventually for most of them, so that it will worth it.
     
  11. AdamFL

    AdamFL Established Member

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    Congratulations on the sale and for telling us the data points. Patience pays in domaining, I can't imagine myself holding this long for the domain especially if you get previous decent offers.

    Thank you again for sharing!
     
  12. Keith

    Keith Top Contributor VIP ★★★★★★★★★★

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    That’s exactly how you get big dollars. You have to believe enough in your asset to reject the bs in pursuit of the real value.

    Most people are either scared or in too much of a hurry to make 5,6,7 figure sales.
     
    Last edited: Feb 17, 2020
  13. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    @bhartzer shared something in the Epik Customer Success Team group this morning that I will pass along here in that it empowers a lot more folks to do great things.

    Check this out:

    upload_2020-2-17_10-30-2.png
    Here it is:

    https://www.dux-soup.com/

    I have never used it personal but Bill is a clever guy and I trust his judgement.

    For those not aware, Bill joined Epik this month as Director of Data Science and Product Manager for DNProtect.com. He is a pretty clever guy. I suggest you follow him.
     
  14. NickB

    NickB Aka MrAcidic VIP Gold Account

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    Nice sale and good post...

    Interesting to use it after the enquiry, like the thinking....

    This is what I do for a living, network, market and sell through LinkedIn. I personally have a very good network of senior executives around the globe. It is a powerful tool if used correctly and professionally.

    You can build a very good network from scratch if you position yourself right and play the long game. You don't need to sell to people straight away, build the connections, do the posts (short videos go down very well - free software available for this) and play the Social Media "like" game (something I don't do here) once you have the network in place start putting the feelers out there, softly, softly....build those relationships!

    I have had a couple of articles written up and posted them, trying to get 1 a month done, good for positioning yourself as a thought leader over the long term...worth looking at doing...

    Make sure your connection request is on point, don't just send loads of random requests without an introduction, make it personal. You only have a few words to grab their interest so make it count.

    Also make sure your profile is 100% complete and looks and reads the part, have your picture on there, contact details and previous work history - Transparency is very very important, people will not deal with half baked, aggressive sales people....

    This would be my main concern, a lot of people will be reading this thread and try and jump on the LinkedIn band wagon without getting their ducks lined up and then complain they got done for spam or did not get anything from it.....

    Good things take time, patience and some dedication.....

    *I do not use LinkedIn for this industry, that may change in the future. My contacts run the European, Asian, American or Global HR functions for big corporates, if I ever did decide to run domains through LinkedIn I would personally target SVP's, VP's or Global Directors in Marketing to start with and go from there. Contacting the CEO of company that says has 80,000 employees is not very realistic imo, start with with the senior decision makers in marketing who will have a budget and if you position yourself correctly and connect with them they will be glad to help!

    *All of the above obviously requires that you have good domains to sell*​
     
  15. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    Agreed.

    Good domains are like lines in the water.

    upload_2020-2-17_10-35-15.png

    If you know what you are doing, you can have many lines in the water, and use technology to make the process of finding fish a lot easier.

    upload_2020-2-17_10-36-3.png

    Technology is definitely your friend, but patience (and staying power) may be required.
     
  16. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    1000% agreed here:

    This would be my main concern, a lot of people will be reading this thread and try and jump on the LinkedIn band wagon without getting their ducks lined up and then complain they got done for spam or did not get anything from it.....

    You do have to make a non-trash profile, preferably a real one.

    Truth be told, if you are from emerging market you might initially find it harder to connect with everyone, No matter. Start by getting connected to the influencers and respected persons in your own country.

    This will take time but it is worth it. Along the way, try not to be a spammer, and also resist the temptation to delete your account. It turns out some Epik staff once did that and now regret it.

    upload_2020-2-17_10-47-1.png
    The good news is that using the tools mentioned by Bill Hartzer you can fix that mistake quickly, but it still is a task that can be avoided by not being impulsive when you had a bad day!
     
  17. rh2000

    rh2000 Upgraded Member Blue Account

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    Or a really good memory.B-)
     
  18. jmaurya

    jmaurya Monk VIP

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    @Rob Monster
    Trademarks are a big problem when we beginner's ( new domainers )
    Normally when we add domains every day not search trademarks because I think good and simple trademarks tools not available ?
    what epik team working any trademarks tools ?
     
    Last edited: Feb 17, 2020
  19. Kassey Lee

    Kassey Lee 域名世界 VIP

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    Excellent summary of the correct way to build a good LinkedIn network. It took me 5 years to build a network of over 30,000 1st connections including 8,000+ CEO
     
  20. manpreet

    manpreet Established Member ★★★★★★★★★★

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    Nice points there, thanks for sharing.
     
  21. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP Gold Account

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    We do have use of an API for detecting Trademarks.

    However, the key is not to TRESPASS on trademarks. One easy way to avoid that is to not use PPC landers but instead SSL landers -- just indicate make offer or contact form, not even with a price.

    After all, trademarks are awarded in narrow classes. Someone making soft fabrics using microfiber can potentially own Microsoft.

    The main thing is to avoid bad faith registrations. Most people know what those are and will steer clear of those unless they like the idea of navigating UDRP.

    If folks really want to see a Trademark warning in their domain search results, we have the data to do it. So, just like @jmaurya's post. if he gets 20 likes on his question, we'll do it.
     
  22. bonin

    bonin NamesBefore.com VIP

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    Linkedin is may favourite network, even I manage to finalise a few deal via DM on linkedin... thanks for sharing Rob
     
  23. Ryan217

    Ryan217 Established Member

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    Congrats on the sale. After reading that I now feel like I have no clue what I am doing. I for one do really like that domain and probably would have been willing to acquire it for up to about 800 but then I probably would have proceeded to BIN it at 15k and take the first offer that exceeded 12k. You really got me rethinking my strategy moving forward. And that I should probably rejoin linked in.
     
    Last edited: Feb 17, 2020
  24. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

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    Congrats couldn’t have happend to a nicer guy, I mean I guess most people didn’t know RJ was here first.

    Great domain, I know we always think we can get more, and what not, but that is a significant amount that can buy some more domains, and do some other great things with. Great exit on it.
     
    Last edited: Feb 17, 2020
  25. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Congrats on the sale.

    I don't really used LinkedIn for marketing domains, but I do use it often for information about a potential buyer or domain owner. It really can help in negotiations.

    I have also used it to write some articles & posts on the .ORG private equity deal and .COM price increases, in order to get the word out.

    It is a network that is a little more serious than Twitter, Facebook, etc. That is good for business.

    If anyone wants to connect, here is my profile - https://www.linkedin.com/in/bradmugford

    Brad
     
    Last edited: Feb 17, 2020

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