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Dear Members,
We are all selling one thing or the other in our everyday lives. When we are not selling a product or a service, we may be selling our time for something else. Most of the time, what we sell for, is either money or learning or experience or all of it.
For example, in the outbound email, you may be selling a domain name, on Twitter, someone may be selling their domaining e-book, someone may be sharing informative posts to build their brands, etc. When we are not actively selling anything, we are selling ourselves (in an interview, for example).
I am going to focus on selling domain names, to begin with. It could be inbound, or a response to an inquiry, and outbound where you are actively trying to sell a domain name:
Inbound
When I actively receive an inquiry about a domain name from the other party, as to how much, here is what I try to do:
I ask them that to me, as the owner of a premium portfolio of category-killer [extension] domain names, while price matters, what matters more is what are you going to use it for. That takes first priority over the price and hence, I would want to know more about your plans with the domain name.
I have seen this work a couple of times, where I get to know about elaborate plans with the domain name, which arms me with more information on how to price the domain name, how important is the name to the buyer, getting them excited about talking more and giving more info about the project and hence, gauge their price sensitivity.
Any hygiene that you follow, which makes the other party share more information, before you get into negotiations? I will write about outbound in my next post.
Summary: The more information you have about the buyer, their intent, the importance of the domain name to them, the better you can price/negotiate and the lesser money you leave on the table.
We are all selling one thing or the other in our everyday lives. When we are not selling a product or a service, we may be selling our time for something else. Most of the time, what we sell for, is either money or learning or experience or all of it.
For example, in the outbound email, you may be selling a domain name, on Twitter, someone may be selling their domaining e-book, someone may be sharing informative posts to build their brands, etc. When we are not actively selling anything, we are selling ourselves (in an interview, for example).
I am going to focus on selling domain names, to begin with. It could be inbound, or a response to an inquiry, and outbound where you are actively trying to sell a domain name:
Inbound
When I actively receive an inquiry about a domain name from the other party, as to how much, here is what I try to do:
I ask them that to me, as the owner of a premium portfolio of category-killer [extension] domain names, while price matters, what matters more is what are you going to use it for. That takes first priority over the price and hence, I would want to know more about your plans with the domain name.
I have seen this work a couple of times, where I get to know about elaborate plans with the domain name, which arms me with more information on how to price the domain name, how important is the name to the buyer, getting them excited about talking more and giving more info about the project and hence, gauge their price sensitivity.
Any hygiene that you follow, which makes the other party share more information, before you get into negotiations? I will write about outbound in my next post.
Summary: The more information you have about the buyer, their intent, the importance of the domain name to them, the better you can price/negotiate and the lesser money you leave on the table.
