discuss Sales Strategy For More Revenue

[Federer]

For those that own thousands of average-good quality brandcentric domains, do you generate more revenue overall by:

- BIN-pricing high and selling fewer domains
- BIN-pricing low and selling more domains
- Leaving most on “make offer”

 

[FPForum]

Has always depended on a few factors for me..How much did I have invested in the name, how long have I held it..etc. I always prefer to price mine at BIN..for hand reg's it'll usually be the Price low at BIN..for something I backordered or paid more for, it would be the Price high at BIN.

 

[Recons.Com]

I am still in the testing phase.
BIN, generally, has proved to provide stable sales revenue most months. My best ccTLD month was in fact last month when I had most domains on "make offer". I was able to negotiate a £3000 sale for a .CO.UK name (HotelPay.co.uk), something I could not have done had I had the name with a standard £500 BIN button. But, if that "outlier" sale has not occurred, the month, in terms of ccTLD sales, would have ended a little lower than a few BIN months - but the difference would have been fairly small (-10%).

For mid-range to higher quality domains, "make offer" gives you more upside/opportunity to close better deals, maximizing revenue. I think the key could be to keep a % of the portfolio synchronized with BINs, and leaving at least 35%-50% on "make offer" - so you are going to have the opportunity to closer higher deals/generate more revenue at least 1/2 the time. Testing still in progress, however.
More important than anything is picking the right types of names.

The names that have upside always could be priced higher than your normal bin for the category.

For example, your hotel/pay example, you could have set it at 3k to 4k bin, assuming that either someone would just hit the buy it now or they'd make lower offer if it is out of their budget.

I sold some names in $2.5K to $3K range with bin that if it would have been negotiation I would have probably given a discount ))

Regarding 500 bins, have you noticed that at this price you are maximizing profitability?

Meaning 500 x sell through at this price x total names > 1000 x sell through at this price x total names?

Or you just intuitively expect it?

I don't price any name at $xxx, unless I don't plan to renew and/or I bought it for its traffic. Interestingly, those names don't sell at $xxx either )))

 

[AuthorityDomains]

If we look at the large portfolio owners (hugedomains / mike mann) then we can see they are doing a mixture of both pricing models. Some names you'll see are make offer, some are bin + make offer, obviously mike mann sets his prices much higher (he has to cover cost of renewals) but hugedomains may not renew for years (slightly different model).

I agree with Federer. Having a mix is a good way to go.

 

[Recons.Com]

If we look at the large portfolio owners (hugedomains / mike mann) then we can see they are doing a mixture of both pricing models. Some names you'll see are make offer, some are bin + make offer, obviously mike mann sets his prices much higher (he has to cover cost of renewals) but hugedomains may not renew for years (slightly different model).

I agree with Federer. Having a mix is a good way to go.

why wouldn't hugedomains renew for years?

Why Mann has to set prices much higher to cover costs of renewals? Is he paying more than any of us?

 

[elmoney]

This is a lottery ... Short and high quality domains set as BIN and I consider as a long-term investment. Low quality domains set "make offer", will sell depending on a buyer's budget and his possibilities.

 

[domainer111]

For those that own thousands of average-good quality brandcentric domains, do you generate more revenue overall by:

- BIN-pricing high and selling fewer domains
- BIN-pricing low and selling more domains
- Leaving most on “make offer”

It's the big question! It's almost impossible to know because an A/B test is not possible, a true A/B test. As long as you can keep the supply of names up - not a given - I choose to price low to keep some cash coming in. So I have sellers remorse all the time but it's quickly forgotten as I can get more names in. It's ok for FS to price long as he has such a huge bank of quality.

Having said that I do go long on around 50 names or so.

 

[wizard]

why wouldn't hugedomains renew for years?

Why Mann has to set prices much higher to cover costs of renewals? Is he paying more than any of us?

He has so many domains he has to price high for all those renewals even with all the sales he still has a huge cost to have all these domains

 

[Recons.Com]

He has so many domains he has to price high for all those renewals even with all the sales he still has a huge cost to have all these domains

It should make no difference, unless you assume very high % of names that are of bad quality.

1000 names x 1% x 2000$ - 1000 x 8$ = $12000
100 000 names x 1% x 2000$ - 100 000 x 8$ = $1 200 000

100 x more in names -> 100 more in revenue after renewals, assuming similar quality.

So, no he does not have price higher. If anything, he can afford to price lower.

 

[wizard]

It should make no difference, unless you assume very high % of names that are of bad quality.

1000 names x 1% x 2000$ - 1000 x 8$ = $12000
100 000 names x 1% x 2000$ - 100 000 x 8$ = $1 200 000

100 x more in names -> 100 more in revenue after renewals, assuming similar quality.

So, no he does not have price higher. If anything, he can afford to price lower.

no with the amount of names he has most his profit goes into renewals !

 

[Federer]

=

Number of domains in portfolio = $Sales/month after renewals.

 

[Windoms]

no with the amount of names he has most his profit goes into renewals !

Like this

100 names. Priced at 2295$ each. He sells 1%.
1 name sold. 2295$.
100 names renewal is 1000$.
Profit 1295$.

1000 names. Priced at 2295$ each. He sells 1%.
10 names sold. 22.295$.
1000 names renewal is 10.000$.
Profit 12.295$.

 

[creataweb]

Technically don't have to renew, sell what you can then drop after year 1. Re-buy with discount promo on year 2 and try selling again. Win-Win and less renewals

 

[LtColonel]

Lets just say I got most of my domains for an avg of £1 per name (rare but can be done). Actually it was less than that so my initial investment was less than £1200 for all names

I don't have to renew any of the names if I choose not to!

Hey, I'm new to doamining and get my domains for $10 on average. Would really like to know how you were able to get yours for such amazingly low prices

 

[Windoms]

Any updates from your ongoing experience?

@Federer @Recons.Com @AbdulBasit.com @Mister Funsky @Addison @alcy @creataweb

BIN or make offer?

 

[ecomslice]

Build Lists. Wait. Be Patient, Network. Catch Deals. ( Find Hacks ) REG TONS. price appropriate. sit wait. hope.


if your regging new at 10, you will be in a very tough spot if hand reg. IMHO.

Hey, I'm new to doamining and get my domains for $10 on average. Would really like to know how you were able to get yours for such amazingly low prices

 

[Mister Funsky]

To start with, I don't buy domains that I feel can not bring AT LEAST $500 (which is where the starting price for all low/mid level names have a 'make offer' minimun set at) on a quick turn. My BIN prices on all names are set at what I feel a knowledgeable business person would understand the name to be worth.

For 2019, I think I may remove all BIN...if nothing else to save me the time of doing pricing research...also I don't have to keep paying attention to what has sold recently to determine if a trend is happening...all that research will be done once I get an inquiry.

I would rather spend my time locating quality names that others are wanting to 'flip' for pennies on the dollar...sit on them for a while and then do outbound marketing to get the price the name deserves.

Any updates from your ongoing experience?

I put my original post in this post so anyone that is interested in what I said about a year ago would not have to search for it.

Due to continuing advice publicly posted here (on nps) by other members in addition to my own thought process and analysis, I eventually removed all bins in 2019. For me, it was a significantly negative experience as sales plummeted.

There is no doubt in my mind, for a variety reasons(s), that low and mid level quality domains can actually have impulse buys...even in the mid x,xxx range. I still get the usual inquires on top tier (truly pronounceable 4L's and real words) but only a handful of inquiries on mid, and especially low level, domains.

So, 2019 resulted in my worst year in recent history. This will change for 2020.

My bin pricing will be, for each and every name that is not supreme top tier, will be 'shoot for the moon' priced with a make offer floor set at 500. My supreme to tiers will stay make offer. My regret is that I did not start this process before the first of the year (50% of my historical sales have happened in the first 4 months). I look forward to what others have to say.

 

[Recons.Com]

Any updates from your ongoing experience?

@Federer @Recons.Com @AbdulBasit.com @Mister Funsky @Addison @alcy @creataweb

BIN or make offer?

I am sticking to BIN pricing and focusing on increasing portfolio size and str

 

[AbdulBasit.com]

Any updates from your ongoing experience?

@Federer @Recons.Com @AbdulBasit.com @Mister Funsky @Addison @alcy @creataweb

BIN or make offer?

I've set almost all my domains to BIN the whole last year and had amazing results especially via Afternic. I strongly suggest everyone to put up BIN at Afternic to have more sales as they've great exposure and networking in order to sell domains. Definitely will stick with BIN.

 

[.X.]

I most usually price my domains accordingly with the research i get on each name, I do use BIN , but from $100 to $5K+ , I sell a lot more low BIN names than anything, avg around $400 a name.

I agree with AbdulBasit , Use BIN on Afternic. the results are incredibly different as opposed to make offer.

 

[Windoms]

What about your experience
@Nikul Sanghvi @xynames @JudgeMind