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

 

[slimjim270]

I only got one response today. This came in the form of a phone call from a possible end user which really caught me off guard (although it shouldn't, I include my phone # with every email).

The first thing he wanted to know was what I could tell him about the name..I froze for a moment and then blurted out where the name was reg'd, expiration date...At that point I was unsure what more I could say about the name, so I started to explain why I was looking to sell. Basically just saying I didn't have the time to develop, would like to find a person who could better utilize the name..blah, blah...I was SO nervous by this point!

He then asked HOW I found him! I mumbled off something about doing a Google search for dog food companies (my name is a 3 word organic food domain). I thought for a brief second to explain to him about my whois search, then thought I'd better not...is it better to not mention a whois search to endusers?

The call then basically ended with my price quote, mentioning that my research of DNSaleprice.com confirms that I am well under market value (which I am). He then said he would have to run this by the IT dept and board of directors and that he would either call back or email me....That was earlier this morning and I have heard nothing back as of yet..keeping my fingers crossed though.

In my past life I spent my days battling with medical insurance companies on the phone...that was a breeze compared to trying to pitch a sale over the phone!! I hope my slight nervousness didn't blow the deal.

Hi All,

This thread is terrific!

I am now at post 467 of 3,100+ posts and continue to find great nuggets of insight.

I have a read a couple of posts about receiving calls and the calls ending with the potential buyer saying "I will give you a call back or email you". [no timeframe or sense of urgency set]

Suggestion - always be the first to suggest the next action and proactively SET the next call, don't be in a position of waiting for one or hoping for one with the sinking feeling you somehow dropped the ball. For example, don't let the call end in a pause... with them tossing out "I will email if interested" and you saying simply "okay" and the call ends. Click. (bad, bad, bad, bad, bad)... Instead, 2/3 of the way through the call after they complete an answer to a question YOU asked, mention "I hate to mention this, but I am stepping into a meeting, what time is best for you this Friday to talk further?"

If they are interested, they will give you a time & phone number to reach them at. (always end a conversation with them wanting more - with them having an impression that your time is valuable)

Controlling the pace of the call is helpful in negotiations. The above quote is an example of the buyer controlling the entire conversation and the seller attempting to answer all questions, but always on the re-bound and having that sinking feeling of being against the ropes not knowing what to say or what question will be next.

Another suggestion - a call should be an exchange of information, not a yes/no volleyball match with quick answer responses. Your job during a call is to QUALIFY the buyer (need, authority, timeframe, money) and through the conversation you should be finding out their job responsibility or title in the organization (if a company sale), what is their purchasing practice an individual decision or a decision by committee, and try to find out what interest sparked the individual to contact you (or respond to your email). If an email response, find a reason to get them on the phone if the sale is more than $500. Get them to talk about what is important to THEM. Spieling off DNS quotes, industry comparisons during the first call, etc... that's price selling, not value selling.

Ask questions like...

1) Are you considering the name (domain) for a new product line?
2) Are you looking for type in traffic?
3) Are you looking for a short name (domain)? If so, what length is your range?
4) Are you the decision maker? (then sort of chuckle and say) Or are you stuck in the tough situation of a "decision by committee model"?
5) Is this a capital purchase or an operational cost? (most managers have a sign-off limit for operating expenses, but a capital purchase typically requires a Finance dept approval)

Don't be defensive. Make it a conversation.

For Pete's sake, they didn't call you to invite you to their daughter's birthday party... they called with a business interest - one that you can potentially solve. But to do so, you need to ask good/engaging questions. That's the "secret" word... ENGAGING. Gotta put that one in capitals.

FYI - My prior job was negotiating software licensing, so to succeed I had to ask the "hard questions" - and guess what - a serious buyer expects good questions - so don't shy away from them - converse with confidence (in a direct/respectful way).

A novel of a post, but I hope the suggestions are helpful...

Regards,

-Jim

 

[slimjim270]

I just made my first domain only sale ...

I bought this great domain chlamydiatesting dot com for $20

I googled chlamydia testing and started on page ten of the results and worked back to page one in sending out a sales letter to all who were legitimate online laboratory/medical sites.

I was offered $909 in US Dollars by a UK firm and gladly accepted the offer. Was just paid and transferred it over today.

I'm definitely going to be spending more time pitching to possible end users. I sent out a lot of emails and it took me several hours, but it was obviously time well spent.

Now post #524 is a great example of identifying a .com for a service market and then finding a pre-qualified buyer with a simple process.

The process used to identify prospects is simple and logical... start at page 10 of a Google search for the service and work your way back to page 1. Someone along the way will be looking for new ways of developing leads for their service line and the EMD might be developed into a great LeadGen site by the company (a buyer that will be thankful for your contacting them with the opportunity to acquire the domain).

Great post @bobbie.

Thanks,

-Jim

ps: The more I read this thread, the more fascinating this thread becomes.

 

[slimjim270]

Here you go. I've left all information intact except the recipient's name:

===

Hi [...],

I appreciate the inquiry. It's important to realize that domain names are not much unlike real estate. As a case in point, it might cost you $1000/month to rent a 250-square-foot space in the Bronx for a brick-and-mortar shop, but it would clearly be unreasonable to expect to rent the equivalent amount of space on Fifth Avenue around Midtown, NYC for a penny under $5K/month. The added cost, of course, accounts for the revenue gained from planting your store in a densely populated location and the prestige of selling on Fifth Avenue. As in any other matter of business, demand determines price.

Comparing BlushBoutique.com to ShopBlushBoutique.com, the expression "blush boutique" is regularly Google-searched 2400-2900 times per month whereas "shop blush boutique" receives nominal search traffic (see Google AdWords Keyworld Tool). Since Google heavily weights closeness of match between search expression and domain name in determining the ranking of its results, you would boost your site a long way towards the #1 google match for "blush boutique" (and I notice there are many other blush boutiques out there) by acquiring this domain and then hiring a web developer to build a landing page on it.

If it will make a difference, I can lower my tag on domain's price a bit, to $400, but that has to be my final offer because I could easily dispose of this domain for an amount in the $500-$1000 range by contacting the other prospects on my list. BlushBoutique.com was initially registered 10 years ago (re-registered in '05), and it's very rare for ten-year-old domains to sell for under $500.

I look forward to hearing from you. Let me know your thoughts,
Joshua

Hi Everyone,

I am at post # 820 of 3,100 posts... and found another great example to discuss...

Joshua does a terrific job developing value by adding specific (value add) insight in his sample response.

Not only is the response clear and specific, he provides a reference to his source (a public source) that the potential buyer can validate on their own time.

Also... (imo) quoting numbers brings more emotion to the discussion, more "realism" to the dialogue.

Example 1:

- Which of the following 2 statements is more sticky?

1) Boston is a beautiful city.

2) Boston has 14,200 maple trees lining it's streets and is a terrific place to visit in the Fall. (Source: Boston(dot)com )

Example 2:

- Which of the following 2 statements causes you to re-think traveling alone at night?

A) Do not travel alone in Chicago at night.

B) 82% of kidnapping/rapes occur between 8pm and midnight in Chicago. (Source: City-Data(dot)com )


The topic of adding "hooks" to your responses, supported with a value-add insight and referencing (citing) a public source, is a terrific way to expand a discussion.

This thread is terrific. While many of the posts go back 10+ years, many of the suggestions are still valuable today.

-Jim

 

[slimjim270]

Hi,

I’ve been reading this thread (although I didn’t read each and every post), but as I see many people have questions, I’ve decided to take a few minutes to share my experience and I hope it will help some of you. I’ve been buying domains and reselling to end-users for a while. Actually, I do this for living, and I can say I’ve been quite successful. I usually by the names on aftermarket and sell them for 10x to 50x the price I paid. Sometimes I hand regg and sell them for at least 10x. I’ve just completed a $x,xxx sale for a domain that I paid $10 last December. Last month, I sold a name for $xx,xxx that I had paid $xxx a few weeks earlier.

Ok, how is it possible? First, I’ve been on the other side, I was an end user, I was in big corporations, so I know how the decision process works, I know how to pitch my sale, and who to talk to. But I’ve been working very hard too, and this is the most important, you have to work hard to sell to end users, since it’s you that are approaching them. It’s much more easier when an end user contacts you first. But this is not the case. So you have to be very professionnal and you need to have some negotiation skills too (don’t worry if you don’t, you can develop it).

So I’m listing below some tips and advices that come to my mind in these few minutes I’m taking to write this. They are not in order of most important or less important, as I said, it’ just some ideas that come to my mind and I put them down quickly. It’s not exhaustive, there are many other tips that I could share, but maybe later. Maybe some of them have already been posted here, but it’s always good to re-read good advice. And of course, I’m always learning, every day, so this is what I think based on my experiences that I’ve had up to date.

- Never use a free email account (gmail, yahoo, etc). Get a nice domain like DomainMedia.com or whatever, and use it as you business email. Be sure the domain you are using for your email resolves to a real website. You can be sure that the end user will check your site based on your email. You don’t need to have a real company and you don’t need to have a lot of pages on your site talking about your business. If you do, it’s better, but make sure to have at least a nice page, with a nice logo (you can buy one for $10 here on the forum), and your email, phone number and address. If you want to look like you’ve been in this business for sometime, buy a domain here that was registered a few years ago. Some endusers are smater than you think, specially those in charge of domain acquisition in big companies, and they will check the Whois for your website. So if you regged the domain last month, don’t pretend you are an established domain selling business.

- By the way, perceived size does matter, especially if you want to sell to big corporations. But even when selling to SMB it is important to present your self as an established business, and not as Joe Blow in his basemement trying to get some quick cash. I’ve been selling to some Fortune 500 companies and I know they will not do business with you if you are not a credible person or company. Get a toll-free number. I like RingCentral.com. You can have a 1800 number, with IVR, for about $120/year (includes fax). It is worth the investment. When someone calls you, they get the option to choose the extension they want to reach. You can give your extension and choose to forward these calls to your cellphone. Plus, when it is a call that has been transfered from your 1800 number, you can choose to get the call or forward to your voicemail, therefore if you are at home with your kid crying in your arms, you just forward to your voicemail and it looks like if you were not at the office. You can call back later « Sorry, I was in a meeting when you called me ». BTW, you get your message by email, which is great. Also, don’t use your home address. A PO Box is not perfect, but it is better. If you can afford, use a virtual office, there are many in in the major cities around the world. Looking big gives you more power to negotiate too.

- Don’t think you will make $xx,xxx sales very easily. If you have a domain that an end user is interested in, and you contact him to offer to buy, the math he will do is the following : Ok, this guy is asking $5X, if I fill a complaint with WIPO it will cost me $X (I have a proof that he has no legitimate interest in the domain, he is offering me to buy it, I have chances to win), so I will go to WIPO. But, if it costs $1,500 to $4,000 to go to WIPO, and the domain is « touchy » (let’s say the end user owns other extensions of the domain for exemple), you can offer it at mid to high $xxx, and he will probably buy it. Important : Stay away from trade-marks. I know some companies that even if you offer them the domain at $100, and it’s a TM, they will take legal action, and you will loose you domain and and waste a lot of energy.

- You should always buy domains at the lowest possible price (big news here?). Unless you are really sure you will sell it (it’s rarely the case), you should not invest what you are not ready to loose. If I buy a domain for $100, and I can’t convince and end user to buy, I will loose $100, and even if I resell it at cost, I will be loosing, because I spent my time for nothing.

- I always put in the subject « Domain.com is for sale ». Short and clear. In 90% of my emails I always include price too. It’s your domain, you know how much it’s worth (if you don’t, choose another business), but the important is to know how much it’s worth from the end user’s point of view. So don’t be afraid to include the asking price. Sometimes they will try to negotiate, that’s ok, and that’s why you should always ask for more than what you really want. If nobody answers, you can resend the email later saying that you have received a few offers and that you are dropping the price – and include the new price. I’ve made many sales after the second email with the lower price.

- Don’t think .com is king. I think I’ve never sold a .com. Simply because I couldn’t buy them at a price that was acceptable for me to take the risk to not resell it or to include an acceptable profit margin. All my sales have been .net, .org, .info and some ccTLDs too. If you can communicate in more than one language, you have a big advantage. The endusers market in France, Germany and Spain is very receptive, and they prefer to deal in their own language.

- How to get paid? In many cases, I ask for a wire transfer, and once I get the funds, I transfer the domain. I send an invoice of course. Paypal is fine for small transactions, but never use it for big transactions, and never offer a big company to pay you this way. First, they will not. They prefer wire transfer or cheque. It is ok to accept a check from a big business. But it may take a few weeks, and it’s normal. If the buyer doesn’t want to pay you before you transfer the name, suggest Escrow if he wants to pay the fees, since it’s he that is asking for another method of payment.

- Never look like if you needed to sell the domain (even if you do). If the buyer is asking too much, wants to lower the price, etc, tell him you are going to sell it to someone else and goodbye. But always be polite and professionnal.


Well, I have things to do, I will stop here now. Good luck everyone!!!

Hi All,

@DanB - thanks for the insights. [not sure if you are still active on NP, but still worth a shout out for a great post]

I am at Post # 956 of 3,100 and continue my quest to read every post on this thread. Very informative!

I have been using WhoisProtection on Namecheap (free the 1st year) but then they hit you for $2.88 / domain starting on year #2. Okay if you own only 1-5 domains, not so okay if you own 200+ domains. So, I have been looking to "virtualize" my business and develop my own "WhoisProtection" model as I don't like publishing my personal cell phone # or personal email addy online. Too much spam and random telemarketing calls result when doing this. Bad enough getting random calls during election years, I don't need my cell phone ringing at 1:00am from a call center in India or the Philippines. [a random call in the middle of the night makes it difficult to get back to sleep and is annoying]

RingCentral(dot)com - will definitely look into them. Thanks.

Also, appreciated your corporate selling insights. It is a different culture than selling to a SMB. Also great insight about payment types. Our A/P department at my office still uses checks as their primary payment method for vendor payments. I know several execs in the company have corporate credit cards for business expenses, but not sure they'd want to run a payment through their personal PayPal account for a corporate expense. So... issuing an invoice and waiting for payment via check seems a likely transaction model to consider for larger corporate buyers.

As I progress towards Post # 3100... I find the one-off "heavy" posts being dropping in the thread are fascinating... the journey is somewhat of an ebb & flow... of mountains & valleys (topic spikes followed by shorter post of discussion & depth)... an enjoyable read and knowledge exchange...

-Jim

 

[slimjim270]

This approach can work with any Keyword Rich Domain.

Re: AcademicPublications.com, I might approach it differently. Your main goal should be to get traction with decision makers and demonstrate it's value/opportunity. Noone likes to get unsolicited sales messages. Position your email more as a business opportunity.

Step One
First thing you need to do is a little homework. You need to approach them as if you are selling advertising on your site. Stats on the Academic Publishing industry. How big is it? Number of Publishers? Number of Consumers? Etc...You are selling so you need to do the heavy lifting. Now you have your ammo.

In your email, approach them as the new owner of the domain with plans for a business with a directory/portal/e-commerce hub centering on Academic Publications. Mention how well positioned you are because of the great generic name you have and that it is universal. Mention the size of the market and opportunity, the influx and rising influence of online publishing, etc.. You are interested in having them participate in this enterprise. Focus on your goal and the opportunity of generating revenue, leads and new markets. All this is possible because of the domain name. You should also sprinkle in the amount of google searches this gets and the number of results generated as well. Ask or confirm that this is the right person to deal with on this. (don't mention a price!) If it is not them, they WILL send the email to the right person for a response to you.


Step two
Once you get ahold of the decision maker and their interest in the potential you are offering, keep mentioning the revenue and opportunites along with the competition you might have contacted. Then start asking them about their own "online" strategy---they will have one or pretend they do. Your name will no doubt dovetail nicely into that strategy. To them, your difficulty is generating the content and revenue to be successful but you have a great name. They have a much lower hurdle to be successful because they have the content, products and contacts already. They just need your name. Also them having the name allows for them to keep their competition from getting it.

At this point, you may have 1-2 interested parties and able to generate a nice end user sale for the name. Will take some work but you are then looking at a name worth $5K or more. Good luck.

Hi All,

I am at share #1050 of 3100+ and found this post interesting as a technique for building value prior to the sales pitch.

I have always wondered if building a LeadGen site and providing "free" leads would be a great way to develop rapport with a potential buyer.

@FreshAvails.com has an unique approach of building value by 1st positioning himself as a potential lead/revenue source, being forwarded to the correct person who handles these matters, develops a rapport with them... and over time... identifies the potential buyer's online strategy, then blends in a discussion with them taking over the project (domain) rather than partnering on the project.

Interesting strategy... would take patience, perseverance, and some research... but I like the idea of building value (and buyer rapport) prior to asking for the sale. Additionally, this could lead to secondary sales of additional domains now that you know their online strategy. A potential repeat customer once the rapport is developed.

1 / 3rd of the way through this thread and enjoying all the insights.

What are your thoughts on this approach of building value prior to pitching for a larger transaction amount? [approach - selling by educating the potential buyer to a lead source opportunity and working collaboratively with them]

-Jim

 

[Calvenor]

What would be best free site(s) to go to in order to collect general business and financial information on potential end user company?

 

[kawalsukhi]

What would be best free site(s) to go to in order to collect general business and financial information on potential end user company?

Google and whois would MOST help you to find enduser!!

 

[Calvenor]

Google and whois would MOST help you to find enduser!!

Thanks, but that is basic research part that I am aware of and fine with.

I was thinking more along lines of historical data with regard to revenue, cashflow and such things, more "intimate" info so to speak. Are there any sites which aggregate that kind of information and offer it freely to general public?

 

[RevolutionaryDomains]

I'm not sure of any all-inclusive site offering such detailed information about various companies. However, the info you want is often public information, so it shouldn't be difficult to obtain. Many of those respective companies should already have their own website, part of which should have an 'about us' page, FAQ, etc.

You can also check NYSE, if they are a publically traded company. There are many ticker sites or stock trade entities, many of which should have a link to a specific company's info, such as financial past, present, and projected future, etc; including the history of the company, board of directors, and so on.

Additionally, you can contact the company direct, and speak with someone in the appropriate department, and simply ask. Some will offer financial or investor's packets, etc; which contain much of the info you seek.

Simple due diligence, most of which starts with a phone call, or Google search, as already suggested.

 

[DomainBELL]

Lots of Sources...
I'll share one...
http://www.opensecrets.org/pfds/

 

[john_karr]

I have the email and phone number of the Head of Emerging market and partnership. Do you think this is a good person to pitch my domain name? Keep in mind this is a huge corporation.

 

[Name Trader]

Too little info to say. What other divisions are there in the corp? What is the domain name? A brandable, a call to action, an emd?

 

[john_karr]

It's a generic domain name. This company is advertising on my site. But, I am really tired of this niche. I just want to sale the domain name. Just want to know who should I let know the domain name is for sale, even though they're advertising on my site.

 

[Name Trader]

Still not really enough information to guide you. So if I were you, I'd go with what you've got, and ask who would be responsible for these purchases, if it's not the person you've contacted.

 

[daj]

What are some good subject lines for emails that you use?

Nevermind found it: https://www.namepros.com/threads/how-to-find-potential-end-users.68798/page-18

 

[john_karr]

Still not really enough information to guide you. So if I were you, I'd go with what you've got, and ask who would be responsible for these purchases, if it's not the person you've contacted.

I doubt the person I am in contact with is responsible for domain name acquisitions. I am going to tell him I am leaving their lead gen business,and that the website is for sale. Remember this is a generic domain name,a product that this company have.

 

[RGkiiing]

A free email (Gmail, Hotmail, Yahoo, etc.) should never be used to communicate with clients. The most convenient way is using info@ or sales@ YourWebsite.com.

sucks that godaddy doesnt have free emails anymore.. 3.99 a month could get pretty expensive

 

[wildomains]

I am still a bit concerned about being spammy by email and getting closed down/fined etc. So I have some ideas.

1. Ask if their domain name is for sale. This way you are not trying to sell them something and you may be passed on to the correct person. If they reply with yes and a $ amount say thank you you will consider it. If they say no then do the next bit anyway.

Wait a few days then reply that you have bought a different one instead and also that you have a domain name they may want. Then give brief details of it. So you have established a sort of relationship with them by them replying to you.

If they didn't reply to your first email you could try the next step also but no relationship has been established so it is more likely to be spam.

2. A bit iffy this one - start the email with something like 'Thank you for your interest in mydomain.com.' Then give brief details about it. So you start with what would normally be the second email. That way you are not saying 'I have a domain name for sale' which may be picked up by a spam filter.

3. You could start by saying a competitor of theirs has expressed an interest in yourdomain.com and maybe they would also be interested in it. There is no mention of 'for sale' here so less chance of a spam filter seeing it.

What do you think?

 

[Kate]

I don't like these bait attempts at all. Just don't waste other people's time.
I think your tips are impractical and even unethical.

 

[deflee79]

I don't like these bait attempts at all. Just don't waste other people's time.
I think your tips are impractical and even unethical.

I agree be direct and clear. Why waste thier time and yours.

 

[RevolutionaryDomains]

I am still a bit concerned about being spammy by email and getting closed down/fined etc. So I have some ideas.

1. Ask if their domain name is for sale. This way you are not trying to sell them something and you may be passed on to the correct person. If they reply with yes and a $ amount say thank you you will consider it. If they say no then do the next bit anyway.

Wait a few days then reply that you have bought a different one instead and also that you have a domain name they may want. Then give brief details of it. So you have established a sort of relationship with them by them replying to you.

If they didn't reply to your first email you could try the next step also but no relationship has been established so it is more likely to be spam.

2. A bit iffy this one - start the email with something like 'Thank you for your interest in mydomain.com.' Then give brief details about it. So you start with what would normally be the second email. That way you are not saying 'I have a domain name for sale' which may be picked up by a spam filter.

3. You could start by saying a competitor of theirs has expressed an interest in yourdomain.com and maybe they would also be interested in it. There is no mention of 'for sale' here so less chance of a spam filter seeing it.

What do you think?

These would actually be considered outright spam, IMO, as the intensions and purpose for the contact are fake. Bait and switch emails are spam, and are more likely to get you reported for spam, compared to a simple, honest email.

Domainers have a tough time as it is without such attempts. In the end, be forthright, upfront and honest with why you are contacting them. Keep it short and to the point. They'll either show interest, or they won't.

 

[wildomains]

OK thanks for that I won't do what I had in mind. So this leaves the issue of spamming by email. If no relationship exists between seller and buyer then even one email is spam and may get reported. Is there a legit way around that?

 

[RevolutionaryDomains]

There's no magical answer. Just be honest and to the point! Pretty simple concept. No need to try and trick people.

That said, why are you so worried about getting reported, or finding "ways around it?" Are you engaged in questionable behavior when sending email?

There are plenty of resources out there, including this thread. Read through, and when done, read it again. If you are not comfortable with an honest email then consider finding a broker, or simply list your names in the aftermarket, (Sedo, GD, etc.) and let them do the work.

 

[cmdomains]

Brief response to question 'how to find potential end users'?

Just been brainstorming lately and found this great list of Alternative search engines

 

[Domain Monk]

How will you reply to the question "How much? or what is the price? by the end user ....will u state the price or make them to offer...