Domain Sales Strategy: How To Be Three Steps Ahead

By on May 6, 2011
three-steps

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.

AQDN.com

About Mark Fulton

Mark is the Founder of DotSauce Magazine and a full time web developer, domain investor, SEO and online marketing professional residing in North Carolina, USA. Visit MarkFulton.com for information on freelance website development, SEO and consultation services.
  • Karl Jackson

    Being pro-active is the name of the game. Excellent article. As a domain owner I have found that yes be where the buyers are. I am hoping to sell two very exciting domains and I definitely include at least 4 of the ways Mark advises.

  • http://www.godotmedia.com/web-content-writing Content writer

    I think proper communication is very critical, otherwise you won’t be able to tell the customers about the value of your product and how it can benefit them. Strategies of communication can not be the same to different sets of people – they have to be classified according to their interests.

  • http://twitter.com/BilKenedy Bil Kenedy

    The strategies were good but very common. I have a web hosting company and I used so many strategies than those. Like postering, tv adds, canvasing, business card, open booth and so on. You need to enlarge them nor no one could get help from it.

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  • http://www.godotmedia.com/web-content-writing Godot

    Communicating an idea effectively has a lot of importance. Whatever brilliant idea we have, if the communication fails , our efforts will be in vain. 

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  • http://twitter.com/BilKenedy Bil Kenedy

    I have a domain and hosting company. But I never have to be waited for selling. But I know one things is important and it is empathy. Seller should know or guess what actually customer wants. This is the main thing. And nothing more difficult than marketing.

  • http://twitter.com/BilKenedy Bil Kenedy

    I have a domain and hosting company. But I never have to be waited for selling. But I know one things is important and it is empathy. Seller should know or guess what actually customer wants. This is the main thing. And nothing more difficult than marketing.

  • http://www.rosreferat.ru Alex

    After examining the article I should agree with all the points as well as emphasize that the role of the marketing stage is unbelievably important. People spend so much money in vain just because they are too lazy to devote some time to looking for potential clients. As a result – thaere are a lot of “prosperous” companies, but only few of them are real giants in this or that sphere.

  • http://voiture.kidioui.fr/ voiture

    Thanks, this is a very helpful post. I really agree with empathy and I believe people often forget that!

  • http://twitter.com/DomainingMojo Jason Allen Goodlin

    End-users will request a price, and then you’ll never hear from them again once a buyer replies back. You have to set the right prices, which is tough when the end-user sometimes doesn’t even have a clue how much they want to pay. Know your market – comparative sales.  

    Communication works to an extent. If you go to the end-user, you will be doing most of the communication (direct position) The buyer is put in a passive position (you contacted them). These are the moments in which the end-user may raise objections to reject your domain. It is up to the seller to be persistent and effectively communicate throughout the sales process. 

    Marketing works for more established companies. Small end-users usually lack knowledge. They are indecisive and too frugal to make an educated purchase. Research the top domain sales in the domain’s niche. It is obvious domain valuation tools are ineffective. Some claim stats are worthless. Know your end-user’s needs – study their products and or services.

    In essence, going to the end-user will cost you valuable time. It is better to find the right contacts through networking in the relevant space. Even if you have to pay commission to another party to close a deal, you can invest the extra time into planning another strategic sales tactic to push your other domains. Thanks for the article. 

  • http://twitter.com/DomainingMojo Jason Allen Goodlin

    End-users will request a price, and then you’ll never hear from them again once a buyer replies back. You have to set the right prices, which is tough when the end-user sometimes doesn’t even have a clue how much they want to pay. Know your market – comparative sales.  

    Communication works to an extent. If you go to the end-user, you will be doing most of the communication (direct position) The buyer is put in a passive position (you contacted them). These are the moments in which the end-user may raise objections to reject your domain. It is up to the seller to be persistent and effectively communicate throughout the sales process. 

    Marketing works for more established companies. Small end-users usually lack knowledge. They are indecisive and too frugal to make an educated purchase. Research the top domain sales in the domain’s niche. It is obvious domain valuation tools are ineffective. Some claim stats are worthless. Know your end-user’s needs – study their products and or services.

    In essence, going to the end-user will cost you valuable time. It is better to find the right contacts through networking in the relevant space. Even if you have to pay commission to another party to close a deal, you can invest the extra time into planning another strategic sales tactic to push your other domains. Thanks for the article. 

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  • John

    you can also search for expiring domains by using godaddy, I always get high PR domains very cheap just as soon as they expire.

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  • Firelite2007

    I personally don’t believe that sales of domains truly works.  Being involved in webdesign and knowing a lot of people who also deal with high profile clients, they often agree with me that they get the comment:  “Not interested” This is how they view having to pay a large sum of money for a domain which is on their name or their company name.  There are so many alternatives to choose from and everyone knows about cybersquatting, it is not unusual for companies to resort to alternative domain names.

    I and most people I know just navigate away immediately when reaching a domain which only has advertisement links on their page.  Then I am wondering what is really the value of what would be considered a high value domain?

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    The 3 steps works together for domain sales. To successful in selling domains, you must learn about the marketing.

  • http://www.brunobabic.com/ Bruno Babic

    Awesome post. Yeah, marketing and empathy definitely go hand in hand with one another when it comes to hanging in the places where your potential buyers are and then finding the right angle on how to best relate to them.
    Finally, the more reasons (angles) you suggest to the potential buyer for buying your domain name, the easier it will be for you to sell it to them.

  • http://www.parajuego.com/ Para juego

    marketing is the way I do – information – empathy. I can not unethical, but it still gives practical effect. in fact, there are many ways to grow the business, this is how I choose

  • Alissa Macintosh @ FinanceWand

    The most important thing here is finding the customer. There are thousands of people who want to sell domain. How do they know that you are there too? This is where blogging and paid ads do wonder. I recently sold three finance related websites. Social Media (including Ads), Blogging, and Paid Ad placements helped me reach prospective customers. I sold the domains in almost no time after starting the marketing campaign.

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    great tips–will heed!