strategy How to Find Potential End Users?

[shilmy]

Hi,

Do any of you has regularly sell your domain to end users? If so, do you mind share with me in this thread on how find potential end users for your domain?

Regards,
Sjarief

 

[Archangel]

I was talking about moving forth a stalled negotiation. I'm not sure how you misconstrued that. Don't you know how to revive a negotiation? There is NOTHING unprofessional in saying there is a time-limit. Actual business owners know that time is valuable & calling them out on their wasting of it is the best way to proceed. Business is business but your logic does NOT work the way you think it does in domaiming.

 

[MicroGuy]

An idea: contact these ppl & let the know you're only accepting offers for another week or "by the end of the month." That way, they'll know to stop pussyfooting around & make a move.

This is fine as long as it's truthful. The truth shall always prevail.

 

[Archangel]

Agreed. Although it's easy to lie in this industry, it's always best to be honest. If you're caught in a lie, that could jeopardize your entire credibility. It's not worth it. So make a time limit if you really wanna place one. Really, it might be the only real way to jumpstart things.

This is fine as long as it's truthful. The truth shall always prevail.

 

[MicroGuy]

Agreed. Although it's easy to lie in this industry, it's always best to be honest. If you're caught in a lie, that could jeopardize your entire credibility. It's not worth it. So make a time limit if you really wanna place one. Really, it might be the only real way to jumpstart things.

It would be very very difficult for him to follow your earlier advice AND be truthful.

 

[Archangel]

That's why I recommend setting a limit. Though I suppose this wasn't implied much from my wording of that post but it should have been implied, still.

It would be very very difficult for him to follow your earlier advice AND be truthful.

 

[MicroGuy]

This is a philosophy I find useful! >> http://youtu.be/qak-fmYlBRc

 

[lennco]

Agreed. Although it's easy to lie in this industry, it's always best to be honest. If you're caught in a lie, that could jeopardize your entire credibility. It's not worth it.

Amen to that!
To bad more people don't treasure their own credibility as much as they should.

Because of the internet people will say crap they think wont come back to bite them on the butt, sooner or later it does.

 

[serryjw]

This is fine as long as it's truthful. The truth shall always prevail.

AGREED...IF you really aren't going to sell it AFTER the time limit, it is a great strategy. I have NO problem saying, "I have contacted a few other parties that would benefit by the domain". I actually LOVE this. HIS competition would have the DOT COM while he has a secondary extension. DOT COM is king!!

 

[Theydon]

Jideofor - I suggest you remain patient, I know this is hard when you can smell a deal but people can be crap with their communication and you don't want to add to this crap by forcing the sale where a desired outcome gets less and less likely.

You need to find a way to create a 'call to action' without overcooking it, if its not done correctly they will see right through it and you will lose credibility. I suggest no more emails, leave it a little while and then get hold of them on the phone. Just say following our communication over the last few months I just wanted to update myself on your latest position with regard to the domain name and go from there.

If you are desperate to sell they will smell it and they will drive your price down. Only you can decide how much you want for the domain and then you have to consider honestly how much you truly believe it is worth to them. Set yourself a target and negotiate for it, I avoid round number like $1000, they just look a bit convenient - try $990 or $1125 instead.

You need to tackle your inner desire to get the deal done, there is nothing wrong with that of course but don't let it affect your performance or your target price.

Good luck, keep us updated on progress.

 

[jideofor]

I wish to say thank you all for your suggestions. I will take the phone call on the last end user and let's how things pan out.

As for the realestate guy, I really dont know what do at this at this moment and I sometimes get angry over it. But I remember when I was trying to get a reply from him after he had asked how much, he passionately apologized for not responding to my emails. Therefore, I should give him the grace of patience.

Thanks all and God bless.

 

[jideofor]

My mistake was: Not ceating scarcity and competition... But in my first domain sale, it was included.

Well, what can I say? We learn every day and experience is the best teacher.

Thanks y'll.

 

[dnb8]

I really dont know what do at this at this moment and I sometimes get angry over it.

It's only the phone call so you can apologize for calling and hang off.

 

[Theydon]

If you think you have overcooked the communication, park the domain and concentrate on selling another one. Maybe leave it 6 weeks or so and forget about it, chances are they may make contact in this time, if not start the discussions again when you feel its right.

 

[jideofor]

If you think you have overcooked the communication, park the domain and concentrate on selling another one. Maybe leave it 6 weeks or so and forget about it, chances are they may make contact in this time, if not start the discussions again when you feel its right.

Yeah, you are right.

Well I called the lady for the recent domain and intorduced myself. I first greeted her good afternoon ( it seem she didnt care much about that, well that is how we do here in Nigeria lol)... and then went on to explain who I am as the owner of the domain. I made her understand that I had replied her email as well as waiting for her reply.

She just said she cant reply me now... and hung up.

But she didnt say they are no longer interested.


I immediately sent her a text to apologize if I had call at the wrong time and also said I would like to know what she has to say. I checked my email and nothing yet.

I deleted the number from my phone thereafter and do not wish to call ever again.

2 domains and all acting like some sh*t. Strange but both end-user are from the UK. I do not wish to experience this kind of people in my next domain sale.

I still will write to them and keep at it.

 

[serryjw]

Jideofor - I suggest you remain patient, I know this is hard when you can smell a deal but people can be crap with their communication and you don't want to add to this crap by forcing the sale where a desired outcome gets less and less likely.

You need to find a way to create a 'call to action' without overcooking it, if its not done correctly they will see right through it and you will lose credibility. I suggest no more emails, leave it a little while and then get hold of them on the phone. Just say following our communication over the last few months I just wanted to update myself on your latest position with regard to the domain name and go from there.

If you are desperate to sell they will smell it and they will drive your price down. Only you can decide how much you want for the domain and then you have to consider honestly how much you truly believe it is worth to them. Set yourself a target and negotiate for it, I avoid round number like $1000, they just look a bit convenient - try $990 or $1125 instead.

You need to tackle your inner desire to get the deal done, there is nothing wrong with that of course but don't let it affect your performance or your target price.

Good luck, keep us updated on progress.

CALL & wish him a Happy New Year! Mention that you had a few inquiries after the New Year and see what he says...Keep us posted!

Good Luck!

 

[000]

I don't think most end users like to be called about domains. Spending hundreds or thousands of dollars on a domain is generally a very low priority in their busy day, unless they're particularly excited about the domain in which case they'll likely pick up the phone themselves (assuming you've provided them with a number to reach you at). Unless they specifically request a call, I personally stick with email. It's a lot less intrusive. Of course, every end user is different and some do prefer phone to email. I just let them make that choice. I think it's safe to presume that most of the decision-makers for big domain purchases are busy people.

I haven't spoken on the phone to any of the six end users I've sold domains to this month. They were all happy to discuss the transaction solely over email. I have taken a couple calls to discuss two other domains, but those are priced a bit higher than average at $2400 and $8000 and neither party has jumped on the opportunity (yet). In these situations I will probably follow up with a call in a month or so if I haven't heard anything.

I wouldn't consider myself to be a great salesman though, so perhaps I'm missing out on sales by not making more calls... who knows... :tri:

 

[jideofor]

I don't think most end users like to be called about domains. Spending hundreds or thousands of dollars on a domain is generally a very low priority in their busy day, unless they're particularly excited about the domain in which case they'll likely pick up the phone themselves (assuming you've provided them with a number to reach you at). Unless they specifically request a call, I personally stick with email. It's a lot less intrusive. Of course, every end user is different and some do prefer phone to email. I just let them make that choice. I think it's safe to presume that most of the decision-makers for big domain purchases are busy people.

I haven't spoken on the phone to any of the six end users I've sold domains to this month. They were all happy to discuss the transaction solely over email. I have taken a couple calls to discuss two other domains, but those are priced a bit higher than average at $2400 and $8000 and neither party has jumped on the opportunity (yet). In these situations I will probably follow up with a call in a month or so if I haven't heard anything.

I wouldn't consider myself to be a great salesman though, so perhaps I'm missing out on sales by not making more calls... who knows... :tri:

What is time duration between emailing them, getting an interested buyer,payment and domain transfer etc for each domain and are they hand reg?

 

[Archangel]

I'd never consider calling them. I personally couldn't call (I'm deaf) but everyone I've heard from say the same thing: pone calls about domains just irks ppl off. If email won't work, then you're wasting your time with that prospective.

 

[000]

What is time duration between emailing them, getting an interested buyer,payment and domain transfer etc for each domain and are they hand reg?

Many buyers agree to buy the domain the same day I email them (I usually offer fixed prices), and unless the domain must be transferred to another registrar the transactions are often completed within 24 or 48 hours (sometimes two or three) assuming PayPal is OK for both parties. Escrow or mailed checks are sometimes appropriate but do stretch out the transaction time by a week or so.

Then there are of course many people that don't respond, some who say they will buy the domain but never come through and some buyers that must be re-approached later with a lower price.

As far as the domains go, some were hand regs, others were purchased for a bit more. Not in any particular category. You can make a great ROI in almost any niche, with domains of any age, if you buy the right domains and have the right approach.

 

[jideofor]

Thanks, dubstep... I have re-strategized my method which I believe has the chance to increase and boost my sales by almost 50% BUT where I need help is pricing it.

In the domains that seem to be hanging on the air I dont think I priced this domain too high. But before I did, I consider their existence in their niche.

Is $1700 too high for a realestate company started in mid 80s? Though I expect them to counter my offer they didnt.

For the Laundry company, they are quite big in that niche and have a host of staff plus MDs to cater for mini companies within and owned by them. Their website has been in existence since 1995 or so but does not contain my domain keyword. The reason for my domain name is that they have a product that is related to my domain, they own the .info and .co.uk( a redirect to another website owned by them). Is $1000 too much for them?

How do you price such domains because I mostly sell hand reg domains since I am starting from scratch. Ordinarily, I started with just $23...


Does this mean that when I am asked how much I want for the domain name, I should always give a price range between $300--$600?

 

[000]

Does this mean that when I am asked how much I want for the domain name, I should always give a price range between $300--$600?

No, not at all - it just depends on the quality of the domain. Some hand regs can be flipped within an hour for thousands of dollars. The fact that it was recently registered is of little actual importance, in my experience. Sure it may be brought up from time to time but the way I see it is these people wouldn't have paid a reasonable sum even if the domain was ("only!") two or five years old...

If you price more domains in the $300-600 range I do expect you will make more sales. It's a lot easier to convince someone to spend $300 or $600 than it is $1000 or $2000. But you have to consider what works better for you personally: selling five domains for $400 each or selling one domain for $2000? It's a good idea to document your efforts and over time devise a way to be more successful. Generally, the higher the asking price is, the lower your chances of a sale...

That being said, here are a few things to keep in mind:

- Once you throw out a price you can't go up!

- You'll often get lowballed so $1000 could sometimes be a better starting point than $600 if you're really looking to get $600.

- If someone is interested in your domain, they may make a counter-offer, but they may also wait it out and see if you drop it come renewal time or if they can get it for cheaper a few months later... you never know what they're thinking! If your asking price is too optimistic they may just shake their head, delete your email and go on with their day... so it may be a good idea to try and find that balance instead of shooting for the stars every time. Again this just depends on your strategy.

- It's usually hard to judge how much a company is willing to pay for a domain. You can't just look at company financials. It really comes down to who exactly is in charge of making the decision to acquire your domain or not. Some of those people love domains but many either don't see much value in them or have no interest in amassing a collection. A company making $5 million a year could presumably afford to spend $2000 on a domain name but if the person making that decision doesn't see it as vital to business operations then there's a good chance they'll pass on it.

- At the end of the day, all you need is for the price to be satisfactory to ONE end user.

Is $1700 too high for a realestate company started in mid 80s?

Is the domain vital to the success of their business? Or would it be a superfluous acquisition?

Would the domain realistically increase their sales? Are the keywords heavily searched? Are the keywords competitive with a high CPC? Would the domain draw enough leads to warrant them spending $1700 on it?

Does this company have a stingy or modest marketing budget? Do they own any other domains?

Are the decision-makers thinking about this opportunity from a technical aspect, or a marketing aspect? Does their website scream 1990s or can you tell that they really care about their online presence?

There are many factors to consider, as always.

Keep in mind that the U.S. real estate market is not exactly thriving right now so domain purchases may be the last thing on their mind.

 

[jideofor]

hmmm... Thanks so much. I think I should stick to lower offers if that will make me sell my domains faster.

Do you send out your emails with fixed price on it? I mean the very first letter, do they have a price for the domain on it?

 

[Archangel]

I'd avoid this. It looks WAY too spammerish.

Do you send out your emails with fixed price on it? I mean the very first letter, do they have a price for the domain on it?

 

[jideofor]

I'd avoid this. It looks WAY too spammerish.

I have never done it before but just asking to know what worked for him because he mention offering fixed price in 2 post above. I dont really know what he meant by that though.

Thanks

 

[000]

Do you send out your emails with fixed price on it? I mean the very first letter, do they have a price for the domain on it?

Depends on the domain, but yes, in many cases I do include a price in the very first email. Less negotiation, faster sales and more transparency. I don't like to waste time negotiating and responding to "How much?" inquiries all day when I can have a deal reached within minutes or hours with a fixed price. I also don't want to risk the end user assuming I'm another scammer asking $5,000 or $500,000 for a domain that I'd sell for $750, for example.

If an advertiser conveniently fails to mention the price of a product, what assumptions could one draw from that?

If I'm in the grocery store and there's a jar of maple syrup without a price tag, I'm going to assume it's probably about double the price of the other options and that the store simply doesn't want to turn me off with a high price tag. They want me to throw it in the cart without comparing.

My point is, NOT giving a price is more shady than being straight up from the get-go... imho.

Again, it depends on the domain. If I expect a high level of interest, I may be more likely to simply open it up to offers... but if it's a <$1000 name, for example, why piss around?