Outbound domain name marketing tends to result in lower offers and sales prices than inbound lead generation. It makes sense because outbound marketing is essentially cold calling people who may or may not have an interest in the domain name, and they may or may not have the budget to buy the domain name. With inbound lead generation, someone has taken at least the first step to buying a domain name and are willing to discuss the purchase price.
Although I have done less outbound marketing of my domain names during the prior few years (especially this year), I want to share when I think it might be beneficial to do outbound marketing.
More often than not, when I receive an inbound offer or purchase inquiry, the prospective buyer is unwilling to pay my asking price off the bat. Maybe I priced the domain name too high, maybe they are trying to get a better deal, or maybe they simply can not afford to pay the asking price. There could be many reasons for why someone is not willing to pay what I hope to get for a domain name.
When I receive an offer for a domain name that is less than my asking price, I take it as a good opportunity to do outbound marketing to other prospective buyers. My sales pitch email will say something like “I received an offer” for this particular domain name, and before I sell it, I want to gauge interest from other prospective buyers.
The difference between this strategy and standard outbound marketing is when a prospective buyer says the price is too high or tries to negotiate, I already have something like a stalking horse bid in my pocket to share with them. Because they know another offer exists, there may be a time constraint that would not ordinarily exist when doing general outbound marketing. Having the other offer in my pocket illustrates the demand for the domain name and can help reinforce the price/value of the domain name.
Generally speaking, I will not do this type of marketing for “brandable” types of domain names. For instance, I don’t think it would be fruitful to try and outbound a domain name like EnoughSaid.com or KnockItOff.com after receiving an offer or inquiry because outbound marketing is challenging for those types of domain names. That said, I would not hesitate to reach back out to people who had inquired in the past to let them know I am considering an offer and see if they still have an interest.
Doing outbound marketing with an offer in hand is a strategy that has worked for me. In addition, a prospective buyer who made an offer may be more willing to improve the offer if he or she knows I will be seeking out other competing offers and bids.