Labeled as question in Domain Selling and Domain Sales, started by Domain Monk, Jun 24, 2021
And What would you do to fix it for more flow of sales?
Even with a large portfolio, sales are streaky. Historically sales do far better at the start and end of the year vs summer time.
All you can really do is own quality domains, and have them listed. Over time the law of averages works out.
Don't quit your day Job. I agree with everything Brad said. You cannot control sales.
The only way you could control sales is if you did outbound, where the effort is proportional to payoff, but unless you live in a place where cost of living is low, Geo outbound payoff of $/hour is very low.
The bigger your portfolio the more consistent your sales will be though, but unless you are at the a position where you have a portfolio so large that you make a sale everyday and your no sale month turns into a No Sale day, you will need to work on something else as well
Summer is not good sale period for me. At least, up to this time. That's domaining. Good days and bad days. You have to have strong belief to your stuff. If you don't, you will find yourself in panic. And panic is not the best companion. Not only in domaining, everywhere.
Domain sales are so erratic (for domainers) and unpredictable. Sales can come from nowhere, the more reasons you should have your domains listed everywhere possible.
Apart from quality, It's also a game of numbers - law of large numbers (LLN).
Agree with @bmugford
@Domain Monk - You may also check your pricing again. I don't know anything about the size, variety, and quality of your portfolio, but pricing too high may slow down sales as well. Not only during slow periods, but during the whole year. Price your top domains at (realistic) top prices for end-users, discount your lowest quality domains when they're not selling for a longer period of time. Then you will have a relatively large category of domains that's in between. I'm personally currently using 16 standard pricing classes and regularly move domains +1 or -1 step to adjust pricing a fraction.
This is just general advice. It's only human to discount your domains in the hope that they will finally sell, and doubt that decision the next day or with new insights, or "just" because it's another day. Humans have their biorhythm (pseudoscience!). In a larger and diversified portfolio (re quality, pricing, topics, tlds, etc) you will usually find some more evenness in the number of average days that pass between sales.
I wish you luck with the more difficult periods.
I saw a decrease in sales in the last month too (1/4 of sales with respect to what I experienced in the last 6 months), but I'm finding better opportunities to acquire names in the wholesale market. I'm quite a bit frustrated though. Since I have not so much experience in domaining I'm not sure if the reason for this decrease in sales is only the summer or there are other issues in my portfolio that emerged only now (i.e. I've sold all the good names and the rest is "worthless"). Taking this time to study more and review my domaining strategy.
In my case if I sell less in a given month it’s because I turned down a bunch of offers I consider too low - generally in the range of $600 - 1000. If I accepted all such offers I’d sell more but regret it eventually.
Yeah. I would be more concerned with a lack of offers than lack of sales.
If you receive a steady string of offers, the sales will come eventually.
Indeed, analyzing the stream of incoming offers for your domains is a good way to "feel" the market. With BIN pricing, you will miss some of this information. Both BIN and Make Offer have advantages and disadvantages. Trying another strategy may be good sometimes. In the end, a lot of variables have to be correct. The domain, the marketplace, payment options, your pricing, the timing, and a lot more.
How you feel when you have nosale month?
since i don't expect, to have a sale every month of the year....
there is only the feeling of when you do, have a sale.
in between that time, i can get some dally gratification, when viewing ppc stats, reading inquires and or responding to any offers that come in.
additionally, for any domain seller, the "amount" of one sale in a year,
could equal or be greater than another seller, who does manage to sell a domain every month.
the big sale could last one seller more than a few years, so if "no sales" in a particular month doesn't happen... then it's no biggie
i feel the need to document, meticulous notes
make changes, add BIN, and diff markets,
Most importantly, share when you do get sale.
Felt like my last sale coulda been spent wiser on reinvestments that have liquidity or The lesson to have been more shewd on others' ..
Blair Academy New Jersey alum chairman John/jack Bogle still alive who founded the index fund says, 'In investing, it's what you Don't spend.."
Yeps and share when you turn down an offer according to Elliot silver
I have a different pricing strategy. I have set all names to one minimum price. It makes my life easier. The BIN's are only on Afternic. For the best names I counter BIN or near Afternic's BIN. For the weaker names I accept minimum price or counter a little.
During non selling periods, I miss adrenaline, which is offered in any sale. But as I said, that's domaining.
Kite Corey Mia
How do you feel when you have a nonsale year, during which ass.com sells for $6,000,000.00
No sale month? I've had no sale years when I was a beginner. It can get depressing. Just need to wait till the stars align in your favor
Replace bad with evil and bad no longer exists. If you lose a finger chop off your hand then you aren't missing a finger are you? For a less permanent example, try rubbing your eyes with cayenne pepper. I promise you'll forget about not selling domain names. Or stand and fight. Whenever this one gets lost he toddles back to the beginning for inspiration and wisdom since we are in the business of words and numbers. What is a domain name? Etymologically speaking "domain" is a noun circa 1600, "territory over which dominion is exerted," from French domaine "domain, estate," from Medieval Latin domanium "domain, estate," from Latin dominium "property, dominion," from dominus "lord, master, owner," from domus "house" (from PIE root *dem- "house, household"). A later borrowing from French of the word which became demesne. Sense of "dominion, province of action" is from 1727. Meaning "range or limits of any department of knowledge or sphere of action" is from 1764. Via the notion of "ownership of land" comes legal eminent domain "ultimate or supreme lordship over all property in the state" is attested from 1738. https://www.etymonline.com/word/domain. So a domain is land. The value of that land on it's own as a titled deed is whatever another lord is willing to pay for it. If you develop the land into crops, livestock and timber you get your monthly return. There are no lean months. You labour. You learn. You earn. But if a passing lord should make an offer you can ask ten times the purchase price of your land if not more. Get rich while you wait.
My last sales were: 27k, 2.5k, 300, 100. And in that order.... lol
Doesn't matter - I am growing my portfolio with better names
I had brilliant last month 10k plus sale, this month just ended up with 4 k , yes my portfolio is low just 1500 domains 70% mix of hand reg and low xx and 30% some premium names caught for xxx
Need to reach 3000+ domains to be lil stable
It's a headache
Recently, I been looking for platforms where domain names can be traded in cryptocurrencies
That may also be a way out
It can be frustrating really but what I usually do is bringing down my BIN price, and continue learning and buying more quality names. am new though just a year old in the Domaining industry.
The only frustrating thing is fake offers.
Depends how many domains you own. I don't own many personally, currently holding about 25 domains, but hoping to drop that to around 12 to 14 by the end of the year, so I'm going to have many 'no sales months'.
I made 2 sales last year and tend to hit around that per year since i started investing in domains.
Separate names with a comma.