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

 

[fm1234]

One of the cardinal rules of a sales pitch is that the first person to name a price loses, whether it's you or the buyer.

I never mention an asking/opening price in communications with potential buyers until they are showing interest in other aspects of the domain, such as the keywords in it, tie-in to their business etc. Even then I try to coax an offer out of them prior and will generally only put out a number first if they've asked a couple of times.

Admittedly, my experience with directly contacting end users has been limited, but my sales background goes back twenty years, and unless price is the selling point it is smart to hold it back and get a feel for the buyer's expectations beforehand.


Frank

 

[Soofi]

One of the cardinal rules of a sales pitch is that the first person to name a price loses, whether it's you or the buyer.

I never mention an asking/opening price in communications with potential buyers until they are showing interest in other aspects of the domain, such as the keywords in it, tie-in to their business etc. Even then I try to coax an offer out of them prior and will generally only put out a number first if they've asked a couple of times.

Admittedly, my experience with directly contacting end users has been limited, but my sales background goes back twenty years, and unless price is the selling point it is smart to hold it back and get a feel for the buyer's expectations beforehand.


Frank

Thanks Frank, but alot of times buyers are interested only in knowing sales price!

 

[End User King]

Maybe we can start a dead beat buyers thread!

 

[Soofi]

Maybe we can start a dead beat buyers thread!

yes yes do that

 

[fm1234]

posted by dont.net - Dont Resources and Information.

Thanks Frank, but alot of times buyers are interested only in knowing sales price!

Sure, and most if not all apparent objections are usually price objections, regardless of how they are framed (another sales truism.) What I am saying here though is that when pitching a domain to an end user, it is not really a "price pitch." If one puts a price in an opening letter, that's all the prospect is going to see.

Again, my experience specific to end user prospecting is limited, but the couple of occasions where I've had someone respond with the curt "How much?" mail, I've pointed out similar domains recently sold at marketplaces, or search metrics, or compatibility of the domain with some aspect of that user's product/service -- whichever one feature stands out the most, because when we get to the price I want him to be as far away from "Jesus Christ! $295!? You must be nuts to think I'd pay that much for a domain name! as possible and as close to "Jesus Christ! $295!? You must be nuts to give away a domain name like that for so cheap! as possible.


Frank

 

[bmugford]

In my experience the best way to make a sale is to send out a short email just letting potential end users know the domain is for sale. I think making any pitch in the first email comes off as spammy.

Generally you will get "How Much" responses to the first email. Then it is time to make your pitch and frame the value.

If you contact the buyer proactively be prepared to ask a price. There is nothing more annoying to an end user than someone contacting them saying a domain is for sale, and when they ask "How Much" the other party says make an offer. That will turn off buyers.

Brad

Thanks Frank, but alot of times buyers are interested only in knowing sales price!

 

[tollund]

In regards to the "how much?" reply and structure of the email. I use Namebio.com to find previously sold similar domains, and quote 3-5 of these in reply to a "how much?" email in order to justify my asking price (which is usually a good 10 - 40% lower than the previously sold domains).

I have been stating my asking price first, then putting the past sales in after that, but I'm starting to think it is better to say first "here are some recent industry sales of similar domains" and then name my price rather than the other way around. Otherwise, the prospect may still be unable to get past the initial asking price to actually absorb the justifications for said price further below.

Thoughts?

 

[Soofi]

In regards to the "how much?" reply and structure of the email. I use Namebio.com to find previously sold similar domains, and quote 3-5 of these in reply to a "how much?" email in order to justify my asking price (which is usually a good 10 - 40% lower than the previously sold domains).

I have been stating my asking price first, then putting the past sales in after that, but I'm starting to think it is better to say first "here are some recent industry sales of similar domains" and then name my price rather than the other way around. Otherwise, the prospect may still be unable to get past the initial asking price to actually absorb the justifications for said price further below.

Thoughts?

sales stat before your price gives prospect buyer a fair idea and justifies your asking price very well

 

[nielsencl]

In my limited experience, asking for an offer or even a "starting offer" does not work well with end users. This may be because they already have a domain and are looking for another, I don't know. I have even told them that I am NEVER insulted by any price (And that is true, unlike many of you out there ) and this still is not enough for them to start with a price. So I am forced to gauge what the value of my domain is and their potential to pay to try and get the negotiations started.

As we all know, the problem is that there is really no way to set a solid price, because it's going to depend on the ability of the customer to pay and our valuation of the domain. So if someone has an approach to this that works for them I would really like to hear it either on or off-forum.

I am starting to feel a little more comfortable in setting a price, because I also include facts and figures much like what Josh recommends on NameFlipper.com. We'll see how much it helps...

On a related note, we are looking for a little help from those that can sell to end-users or who are interested in this kind of work. If you can sell, we have the domains that need to be sold. Please contact me via PM for details.

 

[noonoo1]

I still have not recieved a payment for the name i sold to an enduser, not that i have chased him for it. I'll try and sell it to their competitors.

 

[accuname]

I still have not recieved a payment for the name i sold to an enduser, not that i have chased him for it. I'll try and sell it to their competitors.

I had an enduser last week agree to buy a domain and ask how to proceed with payment and the transfer. I replied, and heard nothing back. I sent a "I need to hear back from you or I will contact other companies" email and still no word back.

This happens pretty often from my experience.

 

[ddesigns]

Just check out below mail from an Arrogant user whom i contact for one of my domain

"My clients does include.....nor does your cliet will ever have the big names....so do something else .. I had somebody who was into the same thing as u r doing .. in a much bigger way... these days he has closed his business .. also he is not getting a job..... seeing his plight worries me a lot .. hence I replied to yr email. do something constructive.... seriously. just a friendly suggestion...."

Just sharing with you...

 

[Soofi]

Just check out below mail from an Arrogant user whom i contact for one of my domain

"My clients does include.....nor does your cliet will ever have the big names....so do something else .. I had somebody who was into the same thing as u r doing .. in a much bigger way... these days he has closed his business .. also he is not getting a job..... seeing his plight worries me a lot .. hence I replied to yr email. do something constructive.... seriously. just a friendly suggestion...."

Just sharing with you...

:lol: I like his response, do somethign constructive foreals.. develop develop develop :D :tu:

 

[SpareDomains]

I rarely contact end users as I think spending more time buying the right domains in the first place has better results. Instead of spending hours emailing people on okay domains spend all that time scouring drop lists and then your inventory will be stronger and you can kick your feet up and watch offers roll in naturally on their own each month. I don't sell as many as the proactive guys here but I don't need to as it's not odd for me to go well over 1000% return on investment. One tip I would give to eliminate the back and forth emails of how much, how do I pay etc... is to generate a list of emails for end users for your domain then start an auction listing at Bido, Sedo, etc... set the reserve at the lowest price that makes ya happy and then email or call all the end users on your list and whether the domain sells for $100 or $10000 you did the best you could do by inviting the perfect end users to the listing and if it sells for less than you expected really can't have any regret if you invited the top dogs to the listing, plus an auction throws a sense of urgency on the bidding and usually increases value if at least 2 people you contacted fight it out. An auction format has the best chance of increasing value, you just gotta invite the right people to your listing.

Sedo=Auction Format
Bido=Auction Format
Afternic=Auction Format
Rick Latona=Just changed his newsletter to Auction Format
etc...

another tip affiliate code the link you send to end users which can be done at Sedo, Bido and Afternic so if one of the end users you contact buys then they are tagged as your affiliate for that purchase and any future ones as well.

 

[Soofi]

I rarely contact end users as I think spending more time buying the right domains in the first place has better results. Instead of spending hours emailing people on okay domains spend all that time scouring drop lists and then your inventory will be stronger and you can kick your feet up and watch offers roll in naturally on their own each month. I don't sell as many as the proactive guys here but I don't need to as it's not odd for me to go well over 1000% return on investment. One tip I would give to eliminate the back and forth emails of how much, how do I pay etc... is to generate a list of emails for end users for your domain then start an auction listing at Bido, Sedo, etc... set the reserve at the lowest price that makes ya happy and then email or call all the end users on your list and whether the domain sells for $100 or $10000 you did the best you could do by inviting the perfect end users to the listing and if it sells for less than you expected really can't have any regret if you invited the top dogs to the listing, plus an auction throws a sense of urgency on the bidding and usually increases value if at least 2 people you contacted fight it out. An auction format has the best chance of increasing value, you just gotta invite the right people to your listing.

Sedo=Auction Format
Bido=Auction Format
Afternic=Auction Format
Rick Latona=Just changed his newsletter to Auction Format
etc...

another tip affiliate code the link you send to end users which can be done at Sedo, Bido and Afternic so if one of the end users you contact buys then they are tagged as your affiliate for that purchase and any future ones as well.

makes alot of sense, definitely a sensible post worth a read! repd+

 

[TheLaw]

One of the cardinal rules of a sales pitch is that the first person to name a price loses, whether it's you or the buyer.

I never mention an asking/opening price in communications with potential buyers until they are showing interest in other aspects of the domain, such as the keywords in it, tie-in to their business etc. Even then I try to coax an offer out of them prior and will generally only put out a number first if they've asked a couple of times.

Admittedly, my experience with directly contacting end users has been limited, but my sales background goes back twenty years, and unless price is the selling point it is smart to hold it back and get a feel for the buyer's expectations beforehand.


Frank

Exactly, naming a price didn't worked on few attempts to sell a domain which I had, once I started to just ask if they were interested I started seeing interest from the people (and guess what, it was the same company...same domain, but much later on).

Thanks Frank, but alot of times buyers are interested only in knowing sales price!

A buyer might be interested in the price you are right, but that is not of YOUR concern, it is buyers concern. What you do want is actually to put a bite or increase curiosity to the buyer, and not telling the price in first place it sure does that bite job.

 

[Soofi]

A buyer might be interested in the price you are right, but that is not of YOUR concern, it is buyers concern. What you do want is actually to put a bite or increase curiosity to the buyer, and not telling the price in first place it sure does that bite job.

and that makes most of the buyers run away!!

 

[fm1234]

A buyer won't run away though. Seriously, to clarify my above point, I'm not suggesting one should be coy with a prospect. Obviously some are going to just hammer on the point of price, price, price and not want to hear anything about the domain or what it is that led you to contact them as opposed to the next guy in the phone book about that domain. Most such prospects will not buy and if they do, they will generally lowball. (The obvious exception to this is a prospect who already owns multiple domains related to his business; generally that prospect knows what he is doing and for what he's looking in the way of a domain, so the price truly is the deciding factor.)

But for most other prospects the question isn't even really a question. It's an out; an easy way to say "Too much; not interested." As such the question can be easily deflected at least once, being answered instead with the pertinent value-building points about the domain.

As I said before, end user domain sales is not a "price pitch." You're not selling on price the way, say, Woot.com sells on price. No one on the planet Earth would ever buy anything from Woot if not for their prices, because the site is annoying, the selection is unpredictable and often if it's a high-demand item it's sold out before you even know it's there. But I bought a telescope that sells for $45 and up online for $15 including shipping at Woot just yesterday -- Woot is a price seller. Anything much over reg fee for a domain name is not a price pitch. You have to make a value pitch, and if you put the price before the value, that is going to make more prospects run away than demurring for one extra e-mail on the matter.


Frank

 

[luciente]

You have to make a value pitch, and if you put the price before the value, that is going to make more prospects run away than demurring for one extra e-mail on the matter. Frank

I think this is a great point. The solid value pitch will allow the buyer to solidify their own conviction that the purchase is desirable. I also think that convenience in the purchase process can help speed the sale along.

 

[nielsencl]

I was just talking to someone who sent me an offer for some domains today )I don't think they understood anything I said...). If sending out many emails works for you then fine. But if they don't work too well, I suggest you learn some things about the people you are thinking to contact. WHY would they want another domain name? If they have a reason to want it, what is the potential value to them?

If you know they could use a mini-site to focus on something, then that will have one value. If you know they are paying for ads in Google, you can get an idea what a keyword domain would be worth to them just for the traffic.

Once you have a better idea, you can contact them in a personal, friendly, and PROFESSIONAL way to see if you can start a conversation. If you let them know that you know what the value is to them, you should be able to negotiate a better price. And PLEASE consider creating a web site for your business and stop using free email accounts, they will take you more seriously and trust you more.