Domain Sales Strategy: How To Be Three Steps AheadPublished May 6th, 2011 Domain Investing, Domain Marketplaces, Domain Names, Domain Research, Domain Sales, Marketing View Comments
There are lots of skills that experienced domain investors rely on for their success in acquiring and selling domain names. I believe empathy, good marketing and communication are important domain sales practices that lead to more sales.
Follow these tips and techniques to get a few steps ahead of the domain sales game.
[Header image by Flickr user Matt Gibson]
Step 1. Marketing
Be where the buyers are. If you want to make more sales, you’ll want to be proactive and seek out potential end-users for your domain names.
While a select few domain sales are made through a random inquiry, the majority are driven by marketing just as in any other industry. Successful brokers are hard at work building lists of contacts, networking with business owners, blogging and otherwise promoting their portfolios and you should be too.
Here are some places you may be interested in targeting as they relate to specific domain names.
- Google search results advertisers
- Niche social groups on LinkedIn, Facebook, etc.
- Twitter keyword search
- Established industry blogs and forums
- Small business communities
- Related websites owners
Step 2. Empathy
Understand what type of domain names a buyer is looking for as well as their budget. Every buyer is unique, as is each domain marketplace, so each opportunity should be approached with as much insight into the prospective end-user as possible.
If you are dealing with a fellow domain investor on an industry discussion forum, you should expect to sell near wholesale or absolute liquid value. However, when reaching out to a small business, featuring a domain in a live auction or listing your portfolio on popular domain marketplaces you should set asking prices based on each unique audience.
Step 3. Communication
Close the deal in a professional manner. Anticipate the buyers needs by suggesting payment methods and domain transfer details during your initial contact. This should cut down on the number of messages needed to close a deal and will affirm that you are experienced and serious about selling.
Write with an air of professionalism and authority and respond in kind. A potential buyer will be less likely to make a low counter-offer or ignore you if they are being contacted in a respectful, non-intrusive way. The money is in the message.
Each domain sale is a learning experience. You can apply the knowledge gained to your next sales. Identify what techniques are consistently working well and make them your focus.
Where do you market your domain names for sale to potential end-users? Have you had success pricing domain names for specific audiences and marketplaces? Please leave a comment below to share your recent domain sales experiences.