The most common questions that are asked on domain blogs and forums are how to sell a domain and is my domain any good. What does it take to become a good domain seller? From my experience, you have to learn from your experiences. I made selling mistakes that eventually ruined several sales. Surely enough, I wasn’t happy about giving out too much information, or asking too much money for a domain. How does one become a good domain seller?
Most end-users don’t know a domain investor is selling a domain name. They may develop a business plan, which calls for the marketing team to secure a domain name. Essentially, good companies know the value of a domain name. If the company is unable to secure the generic name, they will make it a point to go after a subdomain of the generic name. What many are not fully aware of is that these subdomains of the generic name can become high performers. CareerBuilder.com is a powerful job site that generates nearly 12 million unique visitors per month, and nearly double that amount in total page views. Selling high traffic sites is another ball game.
The first step to becoming a good domain seller is to learn about domain tools. Many blog posters are going to sway you away from domain tools, which will lengthen your learning curve. Domain websites such as Compete.com (evaluates unique traffic, page views, and keywords), Sewatch.net (website keywords, GPR, and site tags), Alexa.com (Alexa Traffic Rank, popular keyword searches, and sites that link in), Valuate.com and Estibot.com (Domain valuation platforms), DomainTools.com (Whois lookup, domains for sale, and domain creation date and expiration), WebsiteOutlook.com and 7zoom.com (overall domain appraisals based on Alexa, GPR, backlinks, and domain age).
In essence, the more you learn about domain tools, the more seasoned you will be to cook a sale. Think of vehicle sales associates that use vehicle features as a hook to reel in the customer. Every time a customer asks about the price, the sales associate will change the subject because they know they can easily lose a customer with revealing the price too early. Domains operate on the same platform. As a domain seller, learn everything there’s to know about the domain’s niche, the buyer’s website or business (target audience, site traffic, CPC bidding, and etc.), and the price you want for the domain. You will usually know how to set the price. It really depends on the domain name, the market, the buyer’s traffic, and the value of the product and or service.
Websites that produce 100,000+ unique visitors per month will have a great deal of capital to invest. Even domain blog owners that generate 5-80K unique visitors per month have deep pockets because they also run companies. You’re not going to ask $10,000 on a domain for a website that only has 400 unique visitors per month. Know your market. What role does the buyer play in the niche? Are they a top performer? Or are they looking to move up the ranks? High traffic websites most likely have the money to spend. Your goal is to build interest in the domain.
Use Google to search the domain’s keywords. Determine which advertisers are bidding on the keywords. Make a list of those websites. Also, look at what sites are positioned on the first two pages. Add them to the list, but separate the advertisers from the websites. Label them to identify the difference. Visit the website. Click on the ‘contact us’ link on the homepage page. Usually, you will find the link on the bottom of the site, or at the top of the page. Present the domain to the end-user, telling them that you own the domain name, and you want to sell it to them.
You can tell them a specific price, but if the price is too high you may never receive a reply. Give them the bait so they’ll come to you. They will know from the moment they see the domain name whether it will compliment their business plan. If you present a domain name that the company uses, mention to them that acquiring such a domain will reduce their advertising cost because they will now own the category. However, they may bid on other keywords, so it is best to only mention your domain’s keywords.
When contacting more established websites, keep your sales pitch to a minimum. More than likely they already know the value of advertising, and what a domain name can do for them. If they ask you questions, you can give them some information. Domain tools will help you to educate a less established buyer, and or low traffic website to find value in a domain. The more information you share, the greater chance you have to make a mistake. If an end-user expresses interest, tell them the price of the domain. Don’t try to tell them what they can do with the domain, or mention any branding options. Thank them for replying back, and then provide them the price.
How do you price a domain? You can use Valuate and Estibot, though they may provide high or low appraisals to complicate the sale. You have to know how important the keywords are to an end-user. Most of the time, the generic name may be more than they want to spend. but then there are some end-users that already know the value of a domain. If a domain name is very unique and is specific to the company, don’t be afraid to ask more for the domain. After you make the sale, there is a strong chance the domain will increase in value. The more work a company puts into branding the domain, or even advertising the domain to build traffic in that particular area, the likelihood the domain will soar in value. Selling quality domain names is a challenge due to future value. I’ve seen a 3 character .com sell at $38k, only to be resold a few months later for 13 times more than the previous sale. That’s a tough sale to watch.
I would recommend using Sedo to complete sales. You can provide the buyer with the information to find the domain sales page. Sedo is quick with communicating to the seller to push the domain to them. They take payments, as well as make payments without delaying the process. I never experienced any problems with Sedo’s transfer team. From my standpoint, I realize the reason Sedo is the number #1 domain aftermarket sales leader.
There are times when a deal will not be instant. You may have to wait longer than expected to make a sale. Never lose your patience. Keep being persistent to ensure the buyer knows that you’re there to help. Don’t be too pushy. Always remain professional, showing respect from the beginning to the end. Advanced domain investors can complete deals directly with the buyer.
However, new domainers should use a domain sales platform to complete their first sale. It is best to become familiar with the sales process. You can learn to push domains to another registrar, as well as to another domain company. Selling a domain from within a registrar is effortless. Though, not the same can be said about pushing a domain outside of a registrar. I will write a future post on domain pushing. You can also visit DomainNamePush.com to watch videos and view the steps on the homepage.
Thank the buyer for purchasing your domain. Keep in contact with the buyer. Pricing a domain is important. If you price the domain too high, you will lose a sale. Pricing the domain too low will cost you a significant amount. Always communicate your intentions. If you don’t hear from the buyer, send them a e-mail. Of course, this article is more for those that need help making a sale. Experienced sellers usually have their personal sales technique set in place.
Advertise your domains for free on Craig’s List, Sales Spider, and other free advertising platforms. Send the potential lead to your domain sales page. Unless you know the buyer, or they’re a popular Internet brand, be careful with who you deal with in the sales process. Don’t give out too much information. Avoid taking checks or money orders as a form of payment. Only use PayPal to accept payments. In order to avoid conflict, have another domain company facilitate the deal. It is acceptable to work directly with popular websites, but dealing with strangers you don’t have a business relationship with can spell trouble. Trust is a major issue. Know your buyer.
Contact as many end-users as you can. You can tweak the content a little to personalize the sales pitch with addressing the e-mail to the end-user. Target advertising costs; challenge whether they’re receiving the results they want. If you find a potential lead that is serous, then you can invest time into completing the deal. Selling is a challenging process. When you get used to communicating with end-users, you will become more comfortable. Develop a sales strategy that works best for you. Be confident that you own the best domains. Never mention you own less appealing, or mediocre domains. You need to set the tone right away. Convey to the end-user what you want. Good luck on making a sale.
Domaining Mojo 