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Do you Lose or Gain in Outbound Marketing?

Labeled as question in Domain Buying and Selling Discussion, started by dande, May 9, 2020

Replies:
70
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3,101

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Do you Think Outbound Marketing is Worth the Effort?

  1. Yes, with Good Strategy

    22 votes
    40.0%
  2. No, even with the Best Strategy

    22 votes
    40.0%
  3. Poor Marketing Skill is the Problem

    11 votes
    20.0%
Total: 55 vote(s)
  1. dande

    dande DomainFlexi.com VIP

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    In every business, you lose some and gain some. But it seems that's not really the case with the domain outbound marketing. Most times, we tend to lose more than we gain.

    So many potential buyers has been put off or caused to lose interests in domain names they should be chasing after. Human have the tendency to look down on things that is offered to them easily or cheaply.

    I've lost potential buyers time and again that I'm deciding never to try it again. How about you?
     
    Last edited: May 9, 2020
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Tunababa8v

    Tunababa8v Established Member

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    With good Geo names, especially City+service, you are guaranteed to sell 3 out of 10 names on average with decent returns, sometimes with minimal efforts and sometimes after series of follow up and price slashing. The only disadvantage of this is you might not get the ultimate price for the domain.

    Cant say the same for non geo names though. I will rather wait for inbound offers and maximise profit on non geo names.
     
  3. dande

    dande DomainFlexi.com VIP

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    I have a City+Service domain. Contacted a business who's using the EXACT same name on .net. First, he offered $500 cash or nothing. I insisted on a higher price. He stopped replying. After some months, I contacted him again and you know what? He slashed his offer down to $300 and backed out completely 😂
     
  4. Tunababa8v

    Tunababa8v Established Member

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    If he is the only enduser interested then you have no negotiation power.
     
  5. gilescoley

    gilescoley Top Member PRO VIP ★★★★★★★★★★

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    Its my main method of selling. Outbound accounts for around 70% of my sales.

    My inbound sales are the bigger sales in general but I get regular low to high x,xxx with outbound.
     
  6. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    Same thing here... Outbound works if you know how to do it and put effort and intelligence into it. It is not easy, but once you have a system in place, it works.

    Think about it, the way business works is not that brands just launch a product and wait for people to find it. No, they put a lot of resources and effort on advertising or marketing, reaching out to potential buyers or consumers. Why should it be any different with domains?

    Granted, some names need less marketing than others, but outbound efforts increase the probability of your name selling exponentially.

    There are names, especially GEO and low value keyword names that will take years to sell or never sell at all unless you promote them.
     
  7. dande

    dande DomainFlexi.com VIP

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    Sorry to disagree with you. It's sounds so good on paper but not so in real life. Domain Outbound Marketing is probably the most unproductive thing to do.

    I have tried outbound with some of the most related domains. Most times, exact matches, with me having the dot com while the prospects has either .net or other lower extentons. And I'm not a novice with sales pitches.
     
    Last edited: May 9, 2020
  8. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    Your disagreement is well taken, but in my opinion, if you’re not being successful with domain outbound marketing it’s because of one or more of the following items:

    1. Your names are not attractive to endusers
    2. Your pricing is not realistic
    3. Your email message is wrong
    4. You’re not putting enough effort

    Some domain investors think that outbound must work like magic. That if they try selling one, two or three names and they don’t sell, this means outbound doesn’t work. However, this takes work and research.

    I have been doing outbound for about 10 years and it’s most of the revenue of my domain business. Inbound sales are the exception.
     
  9. Rich

    Rich Top Contributor VIP ★★★★★★★★★★

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    I tend to only outbound if I am thinking of dropping the name or want to raise capital for a more liquid name. Once you can learn to make money on the buy, the chips can fall where they may and you'll still make a profit even reselling at wholesale value. Doesn't always work because trends and industries change but I haven't lost money on a domain in a while thankfully.
     
  10. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP Gold Account Trusted Blogger

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    Interesting discussion. A related point (how it affects price) was discussed on the social yesterday.

    I voted no, and do virtually zero outbound myself (last one was many months ago, and I have only ever done rare super targeted queries). That said, I can see that certain types of names probably improve chances with the right kind of outbound done the right way.

    I voted no, because I dislike getting cold offers, so don't want to do it. But totally understand and accept those who think differently.

    Bob
     
  11. dande

    dande DomainFlexi.com VIP

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    Curious how you're putting the blame on lack of positive responses form outbound squarely on Domainers.

    I appreciate that you're getting results from your outbounding efforts and it seems to be working for you. But doesn't means it works generally. No, it doesn't. And all the points you mentioned are invalid.

    With the best of domains and best of messaging, the chances of getting responses most times is next to zero. You may disagree but most experienced domain investors will agree to that.
     
  12. BaileyUK

    BaileyUK Top Contributor VIP

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    The problem for many is they just don't have the right type of domains for Successful outbound. It doesn't take much effort it just requires a Perfect pairing with your target buyer.

    If I know I'm holding the right name - I certainly don't worry about whether I'll get a response, Just what price I'm going to ask and what's going to be offered

    Too many think it's all about offering an applicable domain - It isn't. You need the email recipient to sit-up and take immediate note - that only comes about when the domain hits the perfect spot
     
    Last edited: May 9, 2020
  13. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    You got that right. If a domainer is not selling names, it is his responsibility 100%. He or she must engage in self-criticism and evaluate how come others are being successful and he is not. Whether his names are not good enough or he is doing something wrong, or not doing something he should...
     
  14. iKhalyfah

    iKhalyfah Restricted (Market)

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    How about in a case, for the sake of argument let's say the domain name is MesaBankruptcyLawyer, you contacted all possible leads you can get of Mesa bankruptcy lawyers at $300, and got only a single response. Does that mean you are targeting the wrong audience, or that means the name is unrelated? Or your price is ridiculously high? Or in a situation where buyers show interest and later disappear, you follow up and still no reply, does that mean you are putting not enough effort?
    Believe you me, if polls were conducted, people would agree in every 1 sales there is possibility of not a sale from 10 attempts no matter how good, cheap and articulated your email is. So i believe to many the effort is not worth it.
    Mind you I'm speaking specifically on Geos.
     
    Last edited: May 9, 2020
  15. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    @iKhalyfah
    If all that happens, you leave that one alone and move to the next domain. You don't drop your arms and conclude it doesn't work.
     
  16. dande

    dande DomainFlexi.com VIP

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    What a sanctimonious post. Good it's working for you. But that doesn't mean everyone else is doing it wrong.
     
  17. iKhalyfah

    iKhalyfah Restricted (Market)

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    Of course it works, it wouldn't have existed if it didn't right?
    The question here is weather you are gaining from it or not. Mind you, some people value their time as much as they do their money, so that much time they invest, and the frustration, is a loss to them
     
  18. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    @iKhalyfah
    I see what you mean. But the key is that if you develop the skill of picking names that end-users want and price them right, you will substantially increase the response rate. After you have done this for some time, you learn which keywords are hot sellers and which are not. For example, if I get my hands on a popular US city + Plumber, Locksmith or Photographer, believe me, those are quick sales.

    You have to fully understand the flipping business and do it right to prevent wasting your time. My point is that you will only be wasting your time if you are doing it wrong.
     
  19. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    Not sanctimonious at all. It is just a realistic statement that to me is completely self-evident. I actually apply it to myself all the time in other areas. When I see people are flourishing in an area of interest to me, while I have not had the success I aspire to, it is clear to me that I am not doing it right. I don't even know why this point should be controversial. It is crystal clear.
     
    Last edited: May 9, 2020
  20. Ryan217

    Ryan217 Established Member

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    Marketing and outbounding aren't the same thing.

    Marketing is getting the word out that you have an asset for sale. Outbounding is akin to going door to door to sell the asset.

    Think about a realtor, they will market the house (put a for sale sign up in the front yard so prospective buyers can see its for sale, list it in the MLS, ect). I have never known a real estate agent to go door to door or to cold car, are you interested in buying this house? Its bigger than yours. Or I see on Facebook you work at x, this house is closer to your work.

    So by all means market a domain, put a for sale sign (lander) on it. Put it in the MLS (marketplaces). Share it on Twitter or LinkedIn.

    But as soon as you try to outbound it even if you do sell it ypu won't get the full value and you will leave many others with an unfavorable impression of domainers, that we are spammers.
     
  21. iKhalyfah

    iKhalyfah Restricted (Market)

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    And how many of those keywords would you see available today? Oh well, just for the records, i have had success with Geo outbound myself, in January alone i sold 12 geos with outbound. But then, i wouldn't generalise that it works for everybody, or that others are not doing it right. I know the frustrations
     
    Last edited: May 9, 2020
  22. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    Not at all. Limiting outbounding to "door to door" is your own definition. Here is the definition of outbounding:

    "What is Outbound Marketing? Outbound marketing refers to any kind of marketing where a company initiates the conversation and sends its message out to an audience. ... Outbound marketing is the opposite of inbound marketing, where the customers find you when they need you." Wordstream.com

    It is not limited to door to door. The concept just implies reaching out to the potential buyer or client.
     
  23. Ryan217

    Ryan217 Established Member

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    I never said it's limited to that. Thats just one example along with cold calling. Neither of which work well for domains imo.

    Those tactics are generally used in commodity products at a fixed price. Not really for negotiated sales.
     
  24. dande

    dande DomainFlexi.com VIP

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    Your analogy captures the essence of this debate/discussion. And if a realtor starts going from door to door to market his property, the chances of not getting favourable responses is high, because people are going to look down on his offers.
     
    Last edited: May 9, 2020
  25. iKhalyfah

    iKhalyfah Restricted (Market)

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    Very high
     

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