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How Did You Improve Your Domaining Negotiation Skill... Four 4 Figure Outbound Sales

Located in General Domain Discussion, started by jideofor, May 1, 2016

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  1. jideofor

    jideofor Top Contributor VIP ★★★★★★★★★★

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    Let's face it, negotiation is still be maker or breaker of most domain sales. I have to admit that there are so many folks who are good at negotiating, but you didn't get there from the start.

    You do have an edge when buyer reach out to you, but in this case, lets look at the outbound sales.

    So how did you improve your domaining negotiation skill that has really helped your sales? I mean the factor that has helped you in winning sales in 4 figures when you reach out to end users.

    What give you the confidence to ask for 4 figures?
     
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  2. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    When you do outbound marketing, you are approaching a business which was doing just fine without your domain. They were not looking for your domain and most likely have no new project in need of your domain. Most end users place very little value on domain names even though they will spend thousands of dollars on other marketing, IT and professional expenditures - just normal business activities. I would base my pricing on a subjective perception of the caliber of name - short, memorable, keyword search volume, value of end user's product / service and relevance to the end user. However, outbound marketing has a very low conversion rate if you seek anything other than low $XXX sales. When an end user approaches you it is possible they are comparing pricing on their top choices but at a minimum your domain is already one of their top choices.
     
  3. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    One of the reasons the rich get richer is because they are less desperate. If you are desperate for money you cannot possibly negotiate correctly, you must allow an independent party to negotiate on your behalf, a party that is not desperate for funds that has a vested interest in getting the highest price.

    I bet between all domainers on this forum tens of millions of dollars were lost because bad negotiating skills.

    Outbound marketing becomes null and void the moment they reply. Now they are just another company who have a liking to your name and you should treat them as such, set aside the fact you emailed them.

    You need confidence to ask for 4 figures? Just look at some of the names that sold in the past week for 4 figures and it will give you all the confidence you need. As to how to justify it to the buyer, well in most cases you don't have to. One of the biggest mistakes domainers make is not realizing that while a 5500 exact match monthly might seem great for us, for some know nothing domain buyer that might be a huge turnoff, they are dreaming of millions of hits and you tell them reality.

    Share with them the sales prices other names sold for and dont tell who what when sold it or they will go there and find another name they like.

    Use the anchor technique, demand a huge price for the name and work your way down. The pros in this business do that and they follow up over time with discount offers etc.

    Do what works, once you make money try your own methods.
     
  4. NPer

    NPer Very Allergic to CURRY PRO VIP

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    There are markets/industries where negotiations take place often, e.g. manufacturing, property, etc.
    I'm sure there must be quite a few domainers with such backgrounds that have done well in domain negotiations from the word go.

    Confidence is important, but more importantly, can you convince yourself of the value-be it any value, e.g. $500 or $5000? If you can, confidence naturally follows. Now, if you have doubts, somehow it will show in the way you interact (reach out/respond) with the person which I would say would show a lack confidence in your own pricing of the domain, and thus could be detrimental to your pitch. If you believe what you are saying, you'll be in a better position.
     

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