Need advice on closing the sale w/ interested endusers!

[tomcarl]

Alright, I've done a lot of reading. There's advice and tips for finding endusers, initial pitch-emails, but not too much info out there on actual negotiations and closing sales when you've got some interested prospects. Lately I've been having no problems with gathering interest from my domains and initial emails, it's the closing.

A couple of recent responses I've received after my first email - "Tom, how much do you want for the name? Our budget this month is 250" or "How much do you want, I usually buy the same quality domains for 300-400" - To me these are obviously good signs, I mean they're not responding "How much?" they're stating they're interested and already hinting on pricing.

Sometimes I'll respond with a counter-offer of just a little bit more not to come across as desperate or if I honestly feel it's worth more, but this seems not to work well for me. When I do this, I get no response and it doesn't go into negotiations, I'm not even countering with 200-300 more, more like 100-150. Is this the wrong approach? Is this putting buyers off? Maybe it's the delivery? I just don't see why they would be interested enough to the point where they participated decent pricing, and I respond with counter and very valid points and info on how it would benefit them, not 'fluff', and not too pitchy.

Another thing I've been encountering is closing. For example. A potential buyer responded to my email, asking How much, I stated a price, benefits and listed a few similar domain sales so he could get an idea on the value of the particular domains.

I get an immediate response "Sold. I'll contact you later this evening to complete the transaction, I'm running errands"

The email was from his iPhone so I considered this legitimate.

No contact from him that day, the next day I take it upon myself to email him with the info I needed, requested GoDaddy info, etc., I get a response he's no longer interested he thought it was the plural (really?)

I know he could've changed his mind for a number of different reasons, it happens. But what I honestly feel is my close could be stronger, maybe I'm putting too much info or coming across in a way that is putting them off. There is a certain way you close with telemarketing which I have many years experience doing, like an art, if you don't do it a certain way or are not that confident during the close, you can have collected all CC info, etc, and they'll go "I changed my mind". I believe that's the case here.

Would anyone care to share some info on this? any advice? or examples of an actual negotiation email or closing email once if a buyer just replies "I'm Interested" after you quoted them the price and everything?

Any info much appreciated! TIA.

 

[njstaci]

I think the most important thing in closing a sale is to explain why a domain is an imperative investment to the company. In telemarketing, you're trying to sell something to someone they don't have yet. In domains, you're usually trying to sell a domain name to someone that already has one. So you need to answer the question: HOW IS THIS NAME GOING TO MAKE THEM EVEN MORE MONEY THAN THE NAME THEY ALREADY OWN?

More importantly, make sure to canvas the value of your prospective company. If you're looking for $XX,XXX from a company that has 5 employees and makes 100,000 a year, chances are they aren't willing to risk spending the money. It doesn't sound like you're doing that, and I'm sure you've done your homework, but sometimes the end-user might actually be presenting you the final number they can afford. Sometimes, they're just negotiating. Figuring out which is which takes time and experience, just as with anything else.

After you fully assess the valuation of the company, decide whether or not their offer is acceptable. Is it worth the risk of possibly losing the sale to get an extra $100, vs. a quick sale? If it's absolutely worth the extra money then you need to dig deeper to find a way to present how this name will earn them MORE money.

If you send a higher offer and don't hear back, send a gentle reminder in a few days, perhaps asking how their weekend was, and whether they are still considering your offer or not. At this point you need to decide if you are willing to walk away from the sale or offer some flexibility. If you decide to stick with it offer them a middle-ground price. Sometimes if you negotiate too much you'll lose a sale, sometimes if you negotiate too little you get ripped off. Again, everything is about experience and although it may seem hit or miss right now in the closing department, I'm sure with trial and error you will learn what works best for you.

Good luck!