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lknights1987

Established Member
Impact
83
Why has @DAN.COM removed the minimum offer indicator?

When a potential buyer now types in a number and goes to the next option a message appears

"Your offer does not meet the minimum starting offer requirement set by the seller"

This is going to reduce the number of offers. Please change it

view
 

DomainRecap

Top Contributor
Impact
4,152
They can simply add an option allowing you to choose if you want to indicate the amount of minimum offer to the buyer or not.

Some people apparently don't like this potential solution, as it would be inclusive and make other people happy.

Like those who are angry that a videogame is not a platform exclusive. It doesn't hurt their use or enjoyment in the least, but it does allow others to enjoy it.
 

Bohdan

Top Contributor
Impact
3,011
Personally, I don't like this "feature". Put yourself in the buyer's shoes. Imagine, that the buyer has a 5K budget and he offers 2K, clicks the button and sees the error, indicating that his offer is too low and starts increasing his offer up to 5K (but the minimum offer was 10K), and then he thinks what the heck and offers 10K and then Boom!, "Your offer is accepted" and frustrated walks away.
 
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kite26

Fearless Bird
Impact
6,056
I don't like this "feature". Put yourself in the buyer's shoes. Imagine, that the buyer has a 5K budget and he offers 2K, clicks the button and sees the error, indicating that his offer is too low and starts increasing his offer up to 5K (but the minimum offer was 10K), and then he thinks what the heck and offers 10K and then Boom!, "Your offer is accepted" and frustrated walks away.
That's explains the zero activity i have after the 2.0. I am not saying that is the only factor, but it could be one of them. I used to have at least 1-2 leads per week and now i have many weeks to see real action.
 
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DomainRecap

Top Contributor
Impact
4,152
That's explains the zero activity i have after the 2.0. I am not saying that is the only factor, but it could be one of them. I used to have at least 1-2 leads per week and now i have many weeks to see real action.

Assuming you list on other venues, have you seen an increase in offers at GD, Sedo, Afternic, etc.?

I have, and have closed multiple deals at GD this month. Also, I can confirm via analytics that potential buyers are spending noticeable time at Dan pages, then not long after I get a GD offer on the exact same domain.

I would usually put this up to lowballers, but I have closed several of these deals, and at well over my Dan minimum bid. So it's pretty obvious that some potential buyers just do not want to play the "find the hidden minimum bid" game and would prefer to deal upfront at GD or Sedo.
 
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Mary Muse

Top Contributor
Impact
3,099
I prefer to show the minimum offer to not waste customers time from trial and error guessing.

Some people want this and others don't want it.

Solution: make it optional through settings

Problem solved

@DAN.COM
Yeah one would think but they've been completely unresponsive to input after I raised the concern after the 2.0 launch.

I'm 100% positive it affects inquiries for names w/out a BIN.
 

Deven Patel

Founder, Alter.com
Impact
1,071
My two cents.. in case it's helpful. :)

I've been in the business of converting visitors for decades. Conversion rate optimization (CRO) is one of the most important processes in digital marketing. A great user experience is the key to increasing conversions/sales. Especially in this day and age where our attention spans are continually dwindling (the average attention span of a website visitor today is less than 7 seconds).

Point being.. buyer's are super fickle and there's no shortage of alternatives available to them so you should do everything in your power to reduce the friction between them and a potential sale.

Based on my experience running a domain marketplace, I can tell you that it's very hard to keep buyers engaged. Unless they're super attached to the name, it's very easy to lose their interest. Heck, we've even had buyers who accepted offers after long negotiations and then went MIA because they had cold feet.

I may be wrong but my gut says those looking to hide the minimum are essentially trying to get buyers to pay higher prices. The problem with that thinking is (1) it'll scare away buyers who don't want to play the guessing game and (2) it'll lead to a decline in completed transactions due to buyer's remorse (i.e. did I bid too much? would the seller have accepted a lower offer? should I just buy another extension that's 100X cheaper? maybe I can get away with not paying? etc etc...). Ultimately, it will all lead to a lower sell-through rate.

On the other hand, if the reason behind wanting to hide the minimum is indeed to filter out spam/lowball offers than you can easily achieve that by simply increasing the minimum offer value (i.e. if you don't want to entertain $100 offers then don't set the minimum to $100). There's no other easy way to guarantee a spam-free experience. Just like the junk folder of our inbox, there will always be a certain level of crap that technology alone won't be able to filter. And if you try too hard, you risk losing real buyers.

Just put yourself in the buyer's shoes and play it out. Forget that you're a seller for a moment. Pretend like you're looking to purchase a new domain for your own business and play out both scenarios. Which option would you prefer as a buyer? Remember, if you want that sale then the customer is always right regardless of how inconvenient things are for you. That's business.
 

DAN.COM

Domain Marketplace
Dan.com Staff
Impact
4,304
I prefer to show the minimum offer to not waste customers time from trial and error guessing.

Some people want this and others don't want it.

Solution: make it optional through settings

Problem solved

@DAN.COM

Shall we share some data about this?

The average sale price for make offers has increased by 14% since Dan 2.0 has gone live and we have enough data now to make some early conclusions.

The main reason we removed showing the minimum offer is that when the buyer sees a specific minimum offer that's the price point they store and the moment a buyer has made up their mind on a specific price it's very hard to get them to the desired selling price.

That's why we experimented with not showing the minimum offer anymore because most organic buyers (non-reseller buyers) now type in the offer they want to make instead of reading what the minimum is and offering that.

Some Dan sellers with enough volume should also notice that they now get higher starting offers and less often the minimum offer set as an offer. This is exactly why we stopped showing the minimum set to avoid hurting your sales outcome.

At Dan we build products not based solely on feedback from one side of the market, we take into account the feedback we receive from the buyer end as well including having various other methods to extract data that we use for product improvements.

We still have enough validation that not showing the minimum offer is the best option for our sellers. However, it's not a big effort for us to offer a setting soon so you can customize your experience with us.

Kind regards,

Dan
 

lknights1987

Established Member
Impact
83
Shall we share some data about this?

The average sale price for make offers has increased by 14% since Dan 2.0 has gone live and we have enough data now to make some early conclusions.

The main reason we removed showing the minimum offer is that when the buyer sees a specific minimum offer that's the price point they store and the moment a buyer has made up their mind on a specific price it's very hard to get them to the desired selling price.

That's why we experimented with not showing the minimum offer anymore because most organic buyers (non-reseller buyers) now type in the offer they want to make instead of reading what the minimum is and offering that.

Some Dan sellers with enough volume should also notice that they now get higher starting offers and less often the minimum offer set as an offer. This is exactly why we stopped showing the minimum set to avoid hurting your sales outcome.

At Dan we build products not based solely on feedback from one side of the market, we take into account the feedback we receive from the buyer end as well including having various other methods to extract data that we use for product improvements.

We still have enough validation that not showing the minimum offer is the best option for our sellers. However, it's not a big effort for us to offer a setting soon so you can customize your experience with us.

Kind regards,

Dan


I like to add the BIN price and make the make offer price around 40% less than the BIN price. So removing the minimum offer price visibility frustrates the potential buyer especially if the BIN is $1888 and make an offer is $1130

Why can't you just add a turn-on/turn-off show minimum offer option to the platform?

You have removed the negotiation part of selling domains on your platform @DAN.COM

I'm seriously considering pointing my domains to another marketplace because of this.
 

karmaco

Top Contributor
Impact
10,165
Personally, I don't like this "feature". Put yourself in the buyer's shoes. Imagine, that the buyer has a 5K budget and he offers 2K, clicks the button and sees the error, indicating that his offer is too low and starts increasing his offer up to 5K (but the minimum offer was 10K), and then he thinks what the heck and offers 10K and then Boom!, "Your offer is accepted" and frustrated walks away.

If a buyer has a budget of 5K and you want 10K that is not your buyer is it? Think from a position of strength not from weakness.
 
Shall we share some data about this?

The average sale price for make offers has increased by 14% since Dan 2.0 has gone live and we have enough data now to make some early conclusions.

The main reason we removed showing the minimum offer is that when the buyer sees a specific minimum offer that's the price point they store and the moment a buyer has made up their mind on a specific price it's very hard to get them to the desired selling price.

That's why we experimented with not showing the minimum offer anymore because most organic buyers (non-reseller buyers) now type in the offer they want to make instead of reading what the minimum is and offering that.

Some Dan sellers with enough volume should also notice that they now get higher starting offers and less often the minimum offer set as an offer. This is exactly why we stopped showing the minimum set to avoid hurting your sales outcome.

I appreciate your detailed explanation, but my concern is that this approach will result in lower number of sales, so the increase in average sale price (from make offer) might be offset by reduction in sales volume.

Moreover the minimum offer is not completely secret you can do trial an error and start entering numbers until the "Next" button becomes enabled, so any persistent user can find the minimum offer price, which makes me feel that this whole thing is waste of time for customers.

it's not a big effort for us to offer a setting soon so you can customize your experience with us.
Dan
That will be great

Thanks
 
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Why has @DAN.COM removed the minimum offer indicator?

When a potential buyer now types in a number and goes to the next option a message appears

"Your offer does not meet the minimum starting offer requirement set by the seller"

This is going to reduce the number of offers. Please change it

view

Oh my... I just added the minimum offers since they changed.
 

alcy

Top Contributor
Impact
34,191
Shall we share some data about this?

The average sale price for make offers has increased by 14% since Dan 2.0 has gone live and we have enough data now to make some early conclusions.

The main reason we removed showing the minimum offer is that when the buyer sees a specific minimum offer that's the price point they store and the moment a buyer has made up their mind on a specific price it's very hard to get them to the desired selling price.

That's why we experimented with not showing the minimum offer anymore because most organic buyers (non-reseller buyers) now type in the offer they want to make instead of reading what the minimum is and offering that.

Some Dan sellers with enough volume should also notice that they now get higher starting offers and less often the minimum offer set as an offer. This is exactly why we stopped showing the minimum set to avoid hurting your sales outcome.

At Dan we build products not based solely on feedback from one side of the market, we take into account the feedback we receive from the buyer end as well including having various other methods to extract data that we use for product improvements.

We still have enough validation that not showing the minimum offer is the best option for our sellers. However, it's not a big effort for us to offer a setting soon so you can customize your experience with us.

Kind regards,

Dan

hi. I'm curious. with basically every update or change u ever made in dan history I read comment saying from u that it has increased sales by x percent. has there really been no mistakes.. or things u changed that actually decreased sales?
 

kite26

Fearless Bird
Impact
6,056
someone fill me in.. I just learned this..

so wth is happening now ...dan has min offr of 99usd yes? if I set no other... it becomes 99...but..buyer does not see this 99?

come on dan..let em see it.. at least after their 1st entry is under 99.
Or give us the option to show the minimum offer or not.
 
biix