Respond, or make them wait?

[hwgriffi]

When you have an inbound inquiry on your domain name do you respond promptly or do you let the interested party wait a few days as they maintain their interest through the silence?

I would like to hear feedback from the community.

 

[frank-germany]

I always respond to an incoming offer as soon as I see it.

But responding to a reply to that response
that's a different story.

If the reply has a reasonable offer, then wait until tomorrow
( after one night of sleep )
if it's a real negotiation with great offers that's mandantory to me.
And I read my intended reply as often as possible.

if the offer is low ball
I answer with my template for low balls
as soon as I get the reply - and don't care for the outcome

I think that any time you add "this domain is for sale" to your page it dilutes the strength of the leads and you get tire kickers and other domain investors instead of an end user who was self motivated to contact you because they wanted to domain name.

it doesn't make a difference
just be aware not to sell to soon to cheap

 

[Acroplex]

You can use automatic responders at Uniregistry Market if you want to do so. I prefer to respond to inquiries after I've examined the offer, and performed research on whoever makes it. That, might take 24 hours, or more.

Ignoring inquiries that are garbage/lowball is part of the game as well.

 

[imadoer]

At first I normally respond right away and thank them for their offer.Then hit them with a counter depending on the response. I may go silent or counter back again. Sometimes silence pays. Majority of the time if we can't reach an agreement on the price. I hit them with the payment plan and let them know that they could use the domain today with x amount down x amount each month until the balance is paid. I do it my own words it works for me

 

[karmaco]

It just depends on what they have said, who they are and the offer. Lately been responding to obviously fake id’s with very high prices. If you can’t give your real name you won’t get a real price.

More important than exact timing is sensing when an offer is legit and keeping your cool. I always speak/write as though I do not care if they buy or not. Very neutral. So far it has worked for me.

 

[DubDubDubDot]

If someone is reaching out to see if a domain is for sale, their interest is climaxing at that very moment.

 

[BrandableDomain]

This question is also addressed in a video presented by NamesCon 2018 about Godaddy’s NameFind domain portfolio. It’s delivered by Paul Nicks and covers the way Godaddy prices and sells inventory from what is probably the world’s most valuable portfolio.

First, he describes how phone contact by a skilled broker results in a remarkable 46% higher close rate compared to email. Sure, most of us are probably not skilled brokers or even want to use the phone.

Then, he says that Godaddy discovered they have a 20% higher chance of closing a sale if discussed within 24 hours, compared to the second day. While he seems to be referring to lead response on the phone, the principle would surely also apply to a high degree to email discussion.

It’s really the same principle as the “24 Hour Sale” you often see at the shopping center. Marketers try to capture a shopper’s initial enthusiasm before it begins to fade away.

So if you haven’t replied within a day or two (unless your domain is a “must have”) they might just go and look for another option. Replying within 24 hours is also courteous and professional which is a good way to start positively.

Godaddy leverages big data analytics to develop their strategies and they are very successful. Much can be learned by observing this.

The entire 43 minute video is full of information and the relevant footage occurs from about 17:00, but the entire video is a must see.

You can view it at:

youtube (DOT) com/watch?v=cXPQzDRYMmY

 

[Vinod R]

Usually responding in a timely manner is the perfect thing to do, if you make a sale or not.

 

[Name Trader]

If I read an incoming offer I generally reply immediately I have read it. Most people appreciate an immediate reply. Doesn't matter if the offer/inquiry just came in or not, to me. I am always in the driving seat with regards to the price. I don't let the buyer pressure me into selling below what I want to sell the domain for.

 

[DnEbook]

I would wait no longer than a day, with time differences and other stuff a day is fair, any longer the fish might jump off the hook

 

[eurorealtor]

In few cases, people making inquiry over the DNS thinks that's an instant messenger. So I assume some buyers have no patience and keep sending messages.

Once I have received $2k offer for a domain I actually priced at $2k but the broker made no respond entire weekend and the buyer just backed out and moved on (probably).

I usually take couple of hours to make a little research about the inquirer and respond the same day.

 

[Sumeeth]

I think you should reply asap otherwise you are giving time to them to explore if any other better domains available in the market. There may be possible loss of sale. So always close deal asap, at least from our side we should be quick.