discuss How do you respond to the "How much" question?

[thevictor]

I know there are several threads on here around outbound marketing, but I haven't seen anything specific around different strategies on responding to the "how much" question.

Below is what I have read regarding this from some NP memebers:

• Respond with a really high figure and work your way down from there.
• Ask for offers in x figures
• Respond with a realistic number you are willing to accept and include several reasons as to how you came to that number.
• Don't respond with a number and instead ask to discuss over the phone.

This about sums up almost everything I have read from the different threads. I am curious to hear from other members as to how they respond to the "how much" question? What has worked and what hasn't?

 

[Sheogorath]

So you think it is best not to give a specific number and respond with "submit you best offer" and once they do, reply with a "mega" counter offer? IMO this may be a huge gamble and in may scare away a potential buyer. At the end of the day, they weren't the one to inquire first.

The tactics I have provided above work best if the buyer inquired first.
Though they can still work well if you have contacted them first.
If you give a fixed price without letting them open with an offer you risk leaving money on the table, maybe a lot of money.

The buyer always wants a cheap deal, no matter if it is an individual or a large & profitable company.
So if you let them open with the offer, you have the upper hand in the negotiations.

 

[thevictor]

The tactics I have provided above work best if the buyer inquired first.
Though they can still work well if you have contacted them first.
If you give a fixed price without letting them open with an offer you risk leaving money on the table, maybe a lot of money.

The buyer always wants a cheap deal, no matter if it is an individual or a large & profitable company.
So if you let them open with the offer, you have the upper hand in the negotiations.

It all comes down to that "upper hand". Which is why most domainers refrain from doing outbound, since it in a way gives the upper hand to the other person. I do believe in the idea that sales is a contact sport, so unless the domain is ultra premium, it takes a long time for the inquiries to come in so outbound will help move the needle.

 

[Abdullah Abdullah]

Seems to be the consensus. Now, do you think aside from including the price, there also should be an explanation of the price to add value? Do you or have you done outbound marketing? What has worked for you?

I dont see there is any harm if you can include very close sales comps which will boost your price.

 

[fatter]

I always give a buy it now price, and a send it to auction price which is usually much lower, but be prepared if it goes to auction that may be highest bid. Which also makes it appealing to buyer on a chance they will get it at much lower price, and if not they don't lose anyway.
Joe T

 

[Brands.International]

I know there are several threads on here around outbound marketing, but I haven't seen anything specific around different strategies on responding to the "how much" question.

Below is what I have read regarding this from some NP memebers:

• Respond with a really high figure and work your way down from there.
• Ask for offers in x figures
• Respond with a realistic number you are willing to accept and include several reasons as to how you came to that number.
• Don't respond with a number and instead ask to discuss over the phone.

This about sums up almost everything I have read from the different threads. I am curious to hear from other members as to how they respond to the "how much" question? What has worked and what hasn't?

Just quote a price you would be very happy to get. In most cases it will not work out, in some cases it will work out

 

[Brands.International]

Question: How much?
Answer: how much you got?

Have not tried that yet, will do next time

 

[satyadeep singh]

nice

 

[topdom]

You can talk a lot and then be totally ignored, and this is very annoying. So try to get a price from buyer in some way. You can guide them by mentioning past sales or apprasials. Also make the buyer feel that you are motivated to sell, and ready to walk away, at the same time. I rarely send outbound emails, and NONE get any response. But domains I do outbound for seem to have a higher sale rate. So, maybe write a message containing interesting info, which they will save for future, instead of deleting, and maybe later decide to buy after second reading, without replying to the email.

Don't give a price: Why: Because you will forget which price you gave, and if there is a big gap in any direction, you will look dishonest. If you give a price, say this is a rare low price..

I'm not saying all this would work, but it sounds logical to me.

 

[artstar]

just say -how much do you got?

 

[Jimmysun]

Always reply digits, 4,5,6,7, low-, mid-, high-.

 

[thevictor]

I always give a buy it now price, and a send it to auction price which is usually much lower, but be prepared if it goes to auction that may be highest bid. Which also makes it appealing to buyer on a chance they will get it at much lower price, and if not they don't lose anyway.
Joe T

We are getting a bit off topic here, but wouldn't the auction route be a more of a gamble? If you are asking say $2,000 for a domain, it may end up selling at pennies on the dollar at an auction? IMO, to make this effective, you would need to send out many emails to potential end users to let them know about the date and time of an auction, without mentioning price. Then cross your fingers and hope for the best. I personally haven't tried the auction route as of yet.

Has anyone tried this? What worked and what didn't?

 

[thevictor]

Don't give a price: Why: Because you will forget which price you gave, and if there is a big gap in any direction, you will look dishonest. If you give a price, say this is a rare low price..

How would you forget what price you gave? Unless you are spamming 100s of companies with different prices for the domain, it would be hard to forget...

 

[fatter]

We are getting a bit off topic here, but wouldn't the auction route be a more of a gamble? If you are asking say $2,000 for a domain, it may end up selling at pennies on the dollar at an auction? IMO, to make this effective, you would need to send out many emails to potential end users to let them know about the date and time of an auction, without mentioning price. Then cross your fingers and hope for the best. I personally haven't tried the auction route as of yet.

Has anyone tried this? What worked and what didn't?

It has worked with great results for me on some names and horrible results on others, I now wont send to auction unless the reserve is the least amount I am willing to sell for.
Joe T

 

[thevictor]

It has worked with great results for me on some names and horrible results on others, I now wont send to auction unless the reserve is the least amount I am willing to sell for.
Joe T

Do you mention the auction in your outbound text? Or do you mean "send to auction" in Sedo, once you receive an offer?

 

[fatter]

Do you mention the auction in your outbound text? Or do you mean "send to auction" in Sedo, once you receive an offer?

I always respond with a buy it now price and a send to auction price, yes all my auctions were at sedo. In fact most people choose to send to auction because price is usually a lot less. If fixed price buy I just use sedo for escrow, which is much lower commison

 

[lock]

Hold your aces up your sleave as you will need it later in negotiations. Know previous keyword history and extension no need to blab every fact early. Allow for inflation and other factors. Know your closing numbers early. Know when your breaking records with your asking price and step back if you want to close it or burn it.

 

[lock]

What I never respond to is asking for price in a public forum. It is generally newbies on various forums trying to big note that they have money to buy should you give them a price but want to beat you down with no intention of doing business. I don't even suggest private for that it is so obvious what they need to do when providing contact information.

 

[frank-germany]

Have you or do you know anyone who has tried that approach? Has it worked?

it worked this week

for a 500 euro Domain
and a 50 euro initial offer

asking
"for how long do you want to use it?"

 

[bmugford]

Unless the domain is a true gem, which most domains are not, I would just ask a price that has a little bit of wiggle room and go from there.

I have tried many approaches over the years and just asking a price works out more than any lengthy justification you want to add like metrics, comp sales, etc.

You are rarely going to change a potential buyer's mind. Just focus on the ones that have a chance to pan out.

Brad

 

[poweredbyme]

How much question should be answered with a number only with no comments.. Seller should say "this offer is valid until x.x.20xx" to change the price later or may answer with a **landing page without quoting a price in email reply So the price can be changed anytime via landing page with no problem.

**Most email servers mark multiple emails with the same link as spam sooner than the emails without links.

Seller comments on domain value will only make the value questionable.
Seller comments on possibility of negotiations or being open to offers within a range will make only the price questionable.

 

[MTB]

OK this is a personal preference but in my shopping life i hate when people make me jump through hoops to get an exact price for something. No games, tell me what it costs.

So my preference is to state a figure, not a range, that you would readily accept. Now many will come back with a lower price, so agree with view above to leave a little bit of room if that happens.

Bob

PS disclosure I am probably among worst negotiator among NamePros one million members, so don't weigh my opinion too much. I have negotiated back and forth through DAN on some sales, but I am pretty soft in negotiations.

Simple pricing strategy, list for $2,000 (bottom line $1,000) and take their first offer above $1,000. A $10 hand-reg that sells for $1,000 is a win for the seller, and a 50% discount based on a justified $2,000 domain is a win for the buyer. No negotiating, make it simple and fair and everyone wins.I hate going back and forth. @Bob Hawkes is right just state a price, then close the deal and move on.

 

[asset.domains]

I always give a buy it now price, and a send it to auction price which is usually much lower, but be prepared if it goes to auction that may be highest bid. Which also makes it appealing to buyer on a chance they will get it at much lower price, and if not they don't lose anyway.
Joe T

auction could be a disrespect to the buyer after he inquire...

How much question should be answered with a number only with no comments.. Seller should say "this offer is valid until x.x.20xx" to change the price later or may answer with a **landing page without quoting a price in email reply So the price can be changed anytime via landing page with no problem.

**Most email servers mark multiple emails with the same link as spam sooner than the emails without links.

Seller comments on domain value will only make the value questionable.
Seller comments on possibility of negotiations or being open to offers within a range will make only the price questionable.

Very valuable, peers should applaud.

 

[Elisha.O]

I just learned it yesterday
but for sure I will apply

Hi,

Did this work for you?

 

[frank-germany]

Hi,

Did this work for you?

thanks for reminder
had forgotten to use it...

 

[E-Thunder]

I don’t send outbound emails very often, but I never get a “how much “ question my original email has a price.

Example.

DomainExampleHere.com for sale

Hello John Doe,

The domain XXXXXX is currently for sale for $2,499. If you or your organization have interest, please contact me or follow the link below to purchase.

put link here to landing page

sincerely,

Jack Doe