- Impact
- 30,420
Some things I've just realized, might be quite useful to others:
DON'T LOWER YOUR PRICE.
Now let me explain.
During 2019 I've had a very weird situation with sales. Almost no .COMs sold, except some at very low prices ($100). It has been eating me to understand why, and to boost the sales. Note, I have just a few .org and .co, well, guess what, they've been selling nicely. Not the .COMs. Side note I use BINs at Afternic and on my own landers, and everywhere else is Make Offer.
During December I began discounting .COMs heavily (my lower part of the portfolio, the <1K ones). Got them from $800-900 to $250, 200 and even $100. Have quite a bunch so expected to sell some, it all adds up for renewals.
But it didn't work. Instead, it got worse - not sold any. What the heck.
The weirdest part is that pretty similar .ORG and .CO domains have sold for good pricing for those TLDs ($500 ... $1.5K range), while their correspondent in .COM, even heavily discounted, are still on the shelf. I mean, what the hell...?
Then, today, it dawned on me. It's the price, too low. Humans are curious creatures.
When you search for a domain on any registrar, it always gives you a list of premiums. The .org, .net and .co listed for $500-$1000 or so seem alright in price, I mean you expect an .org to be 1K or less. But on the other hand, .COMs I am "competing" with were all at least 2K in price, and sometimes even 5 figures. Usually when you see something priced at $400 or $200 in the list, and it's a .COM, it is in most cases rubbish (has to be real rubbish to get that price).
I think I was influencing the buyer behavior with too low pricing, and in the wrong direction.
I've seen this in then past in sales (not domains). Doubled the price and quadrupled the sales overnight. Buyers were simply seeing the product now as a premium one and were paying for quality - perceived quality, as the product was the same (good one though). End users have no idea in most cases what would be the right price for a domain, they are not domainers.
So right now I'm doing what every sane, experienced .COM domainer should stick to = Not accepting offers under 1K anymore, and having all BINs above 1K. I've been doing this in the past, but got recently at discounting by logic error. Bad idea.
Maybe you should do that too. Don't discount too much.
Oh, and some tip from having own landers:
I've been keeping a list of domains that now get exit views towards Escrow.com, where there is buying interest even though not bought yet.
This is good, yet another factor to decide what is to be renewed and what not. 1 year of that data should suffice.
I'm also thinking of adding some instant notification when a certain user comes again so I can hit them instantly with live chat and tell'em "You've been visiting this domain these days, tell me what you look for, would be glad to help."
The perks of own landers.
DON'T LOWER YOUR PRICE.
Now let me explain.
During 2019 I've had a very weird situation with sales. Almost no .COMs sold, except some at very low prices ($100). It has been eating me to understand why, and to boost the sales. Note, I have just a few .org and .co, well, guess what, they've been selling nicely. Not the .COMs. Side note I use BINs at Afternic and on my own landers, and everywhere else is Make Offer.
During December I began discounting .COMs heavily (my lower part of the portfolio, the <1K ones). Got them from $800-900 to $250, 200 and even $100. Have quite a bunch so expected to sell some, it all adds up for renewals.
But it didn't work. Instead, it got worse - not sold any. What the heck.
The weirdest part is that pretty similar .ORG and .CO domains have sold for good pricing for those TLDs ($500 ... $1.5K range), while their correspondent in .COM, even heavily discounted, are still on the shelf. I mean, what the hell...?
Then, today, it dawned on me. It's the price, too low. Humans are curious creatures.
When you search for a domain on any registrar, it always gives you a list of premiums. The .org, .net and .co listed for $500-$1000 or so seem alright in price, I mean you expect an .org to be 1K or less. But on the other hand, .COMs I am "competing" with were all at least 2K in price, and sometimes even 5 figures. Usually when you see something priced at $400 or $200 in the list, and it's a .COM, it is in most cases rubbish (has to be real rubbish to get that price).
I think I was influencing the buyer behavior with too low pricing, and in the wrong direction.
I've seen this in then past in sales (not domains). Doubled the price and quadrupled the sales overnight. Buyers were simply seeing the product now as a premium one and were paying for quality - perceived quality, as the product was the same (good one though). End users have no idea in most cases what would be the right price for a domain, they are not domainers.
So right now I'm doing what every sane, experienced .COM domainer should stick to = Not accepting offers under 1K anymore, and having all BINs above 1K. I've been doing this in the past, but got recently at discounting by logic error. Bad idea.
Maybe you should do that too. Don't discount too much.
Oh, and some tip from having own landers:
I've been keeping a list of domains that now get exit views towards Escrow.com, where there is buying interest even though not bought yet.
This is good, yet another factor to decide what is to be renewed and what not. 1 year of that data should suffice.
I'm also thinking of adding some instant notification when a certain user comes again so I can hit them instantly with live chat and tell'em "You've been visiting this domain these days, tell me what you look for, would be glad to help."
The perks of own landers.
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