One of the most important aspects to a direct marketing campaign is to always test everything. Whether you’re testing your offer, your message, your listing, or your creative, you should always be testing everything to see what provides a lift and what is hurting your campaign. I think we should do the same with domain name sales.
This week, I started to hand off warm leads on inbound inquiries generated from my Internet Traffic and Domain Name Sales landing page. I pride myself in being able to find out who is inquiring about my domain names while extracting the highest price possible. There is a pretty large list of domain brokers who are available to close deals on the DNS platform, so I am going to give the DNS brokers a try.
Sometimes I feel like I am a bit too close to the inventory to objectively price my domain names. Yes, it would be nice to get $75,000 for a particular domain name, but maybe it’s really only worth $40,000. A broker can advise as well as negotiate on my behalf in order to close the deal.
I hate chatting on the phone, unless it’s a discussion I want to have. Using a broker opens this channel of communication when I probably wouldn’t have taken the time to do it myself. I know it’s an effective way to discuss and close a deal, so it’s great to have this negotiation tool.
A little over a month ago, I had a $20,000 deal on DNS, and the buyer didn’t end up paying for it. I would assume the DNS broker has access to back end information about buyers and they might be able to see if a buyer has the potential to back out of a deal. If that person had agreed to 5 other deals and never paid, they might be able to save all of us time and cut off the negotiation. In this business, there aren’t many worse feelings than closing a large deal and having the buyer back or not pay.
The nice thing about DNS is that I can monitor the progress of negotiations to see where things stand. I can also assist the broker if I see something of interest – perhaps additional information about a new service or that the buyer has funding.
I haven’t yet closed a deal with the assistance of a domain broker on DNS, but I will be sure to provide an update with results when I have more insight. If you’ve worked with DNS brokers or another broker on DNS, I welcome you to share your personal experience.