http://createsend.com/t/j-A32B73A37FDFA1002540EF23F30FEDED
BrandBucket Seller's Newsletter:
Hi ,
I hope the summertime has brought you lots of relaxation so far. Please check out all the news below to stay up-to-date with everything going on at BrandBucket.
For those who may not know me, my name is Andreia Soares, I was recently hired as the Manager of Marketplace Operations. I will be working out of the California office, and will be the primary point of contact for sellers on the platform. My job is to keep everything running smoothly (from submissions to publishing), creating educational materials, answering questions, and addressing concerns. I have a strong background in community engagement and look forward to bringing that to the seller community here at BrandBucket. Please feel free to reach out to me at anytime with concerns, questions or ideas. I am also fluent in Portuguese for any Portuguese speaking sellers out there!
We have recently hired Roxana who will be working on the support team. We have also hired a handful of new writers to help us keep our editorial timeline on track. As with any hires, it is always a little slower at first while everyone adjusts but these phenomenal writers will be making sure every description is done well and in a timely fashion. For questions or concerns about writers, please come to me directly.
A New Approach to Pricing:
BrandBucket was created in 2007 as a response to several bad buyer experiences that the founders had when purchasing domains from existing domain aftermarkets and directly from sellers. Since its inception, the core mission of BrandBucket has been to improve the buyer experience with: transparent and consistent pricing, a current and curated inventory, elimination of hidden escrow fees (which account for post-agreement drop-off), and a beautiful, simplified browsing and searching interface. We are always striving to be a trusted resource for startups and business owners. Our buyers validate our mission with the highest compliments available — repeat business and word of mouth referrals.
A key part of BrandBucket’s messaging is that our pricing is transparent, and that we save customers time and money by eliminating haggling - a disruptive idea that buyers have always loved. As more of our customers (who are entrepreneurs with excess domain inventory) became sellers on the platform, we realized that our messaging was inconsistent in that we, like most other domain aftermarkets, asked sellers for a “floor” price or maximum approved discount.
Starting this month we are adjusting our pricing system with a few small but important changes. They will allow you to adjust your prices more easily and often, and will allow our sales team to present each buyer with a “rock bottom” price for all names:
Pricing Manager: You will now see a streamlined interface for adjusting the prices of your domains, 250 domains at a time. With a single click you can set all domains to be at BrandBucket’s suggested price, 10% higher, or 20% higher. We have removed the ability to drop the price below our suggested price as we have no historical evidence that a cheaper price helps a domain on the marketplace sell more quickly. On the contrary, we’ve heard from buyers that when they see similar quality names side-by-side, it makes a name look less enticing if it is significantly lower than the others.
No More “Pre-Approved Discounts”: The price that you set should be the amount that you are OK receiving, also called the “floor” on other marketplaces. BrandBucket has historically sold over 93% of domains at full price and has built buyer loyalty on the fact that we do not inflate pricing with the expectation to negotiate down from the listed price. We've also seen a negative impact of offering more discounts to buyers, both in unreasonable expectations and lack of purchases once discounts are provided.
Price Locks: The average time from first visit to purchase for our buyers is about 25 days. If prices fluctuate too often, buyers are left frustrated and untrusting. This is why any changes made will be final for a minimum of 30 days.
Pricing Reminders: We would like to remind you every so often to review and adjust your prices, so that we can represent your current strategy. Starting next week we will send you an email with domains that have not had prices “saved” in over 90 days. We may adjust this timing based on your feedback, but you will also be able to tell us to keep all pricing as-is with one click (and you will not receive another email for 90 days).
Please keep an eye out for an email to make your first price changes!
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Join us on Slack!
Would you like to discuss submissions, bartering & completed sales with your fellow sellers? Or send your feedback or questions directly BrandBucket team? You can…on Slack! For those sellers in good standing, our BrandBucket Slack is a great place to talk to other sellers and staff at BrandBucket. We offer the following channels for sellers to engage in: announcements, barter, completed sales, feedback, general discussion, introductions, submission discussions. This is a great place for sellers to communicate with other sellers in an open, friendly environment. To join, please check your seller dashboard for the link. If you have any issues with joining, please email me.
Learn More About Slack!
Thank you,
Andreia Soares
Manager of Marketplace Operations @ BrandBucket
