question Your Price is Too High! - What's Your Best Response To That?

[DN Fuel]

Hello,

A common objection for a client when you do outbound marketing is that "the price is too high for me" or "why should I pay x for that domain? ".

What's your best practices on that and how do you respond?

 

[LoveCatchyDomains]

Hello,

A common objection for a client when you do outbound marketing is that "the price is too high for me" or "why should I pay x for that domain? ".

What's your best practices on that and how do you respond?

For the price being too high, one response would be if you can negotiate the installment options. As to why should they pay X for that domain, some compelling comparable sales and good traffic stats might help.

 

[DigiNames]

To quote Rick Schwartz:

“It's not that the price of my domain is too high, it's just that your idea for its use is too small."

 

[jhm]

Hello,

A common objection for a client when you do outbound marketing is that "the price is too high for me" or "why should I pay x for that domain? ".

What's your best practices on that and how do you respond?

You're either going to drop price, or not. Becomes more a question of how many end users do you think you're going to get in the future on that domain, that meet your expectations. Some self-realisation might be your remedy, if anything, in how you proceed IMO

 

[Joe N]

Hello,

A common objection for a client when you do outbound marketing is that "the price is too high for me" or "why should I pay x for that domain? ".

What's your best practices on that and how do you respond?

Have you actually gotten a lot of responses like this when doing outbound? I've done quite a bit, and I have to admit it's rare that someone will tell me my price is too high. Usually they either make a counter offer or disappear after hearing the BIN.

To quote Rick Schwartz:

“It's not that the price of my domain is too high, it's just that your idea for its use is too small."

Maybe not as valid a response when doing outbound. Remember you're the one contacting them, and it's unsolicited. It's unlikely anyone you're talking to has an idea for the name... Ideally, if you're targeting your outbound messages well, they will just be companies who can put the name to use as part of their existing operations.

 

[GoKaizen]

Works for inbound;

"Clearly you can't afford this domain. Here are some alternatives for registration."

 

[LoveCatchyDomains]

Works for inbound;

"Clearly you can't afford this domain. Here are some alternatives for registration."

Yes, but wouldn't that pretty much shut down future negotiations? Or has that strategy helped you get sales?

 

[AEProgram]

You are at a disadvantage because you contacted them so you must work with them. It is completely different if they contacted you.

First reply is to not lower your price but to offer installments and explain how there is no credit check and they can stop paying anytime and not be obligated to complete. Offer maximum number of months installment.

Show them reasons why your price is low and if possible give them reasons how your domain can help them.

Outbound rarely works so if you do get some reply, try to convert it.

 

[vafomiw]

Sales pitches are challenging.
I might start like -> "Doesn't your business deserve .... X",
And, add competitors, add data of past sales posted publicly, plus a discount.

 

[LoveCatchyDomains]

Sales pitches are challenging.
I might start like -> "Doesn't your business deserve .... X",
And, add competitors, add data of past sales posted publicly, plus a discount.

Sounds good. I never thought of the competitors angle. Thanks.

 

[Eric Lyon]

In my opinion, if at any time during negotiations a potential buyer states the price is too high, one should publish some of their research justifying the price accompanying a final counter offer, expressing their willingness to help with the pained price point so both parties feel like they made a good deal.

One should never pitch without a rebuttal sheet and research to leverage.

And never provide all your research up front. Save some bullet points for negotiating.

Everyone is different though. What works for one may not work for another.