No Outbound For Me Right Now

9

Targeted outbound marketing can be a good strategy for people to sell domain names. With economic uncertainty around the world and a great deal of attention being paid to family and the news, I have not really been doing outbound marketing to sell my domain names proactively. I do not anticipate doing any in the short term.

For many businesses, survival is the most important thing right now. Many businesses around the world are assessing their standing and doing what they can to batten down the hatches to weather this pandemic and economic downturn. This is probably more of a time for cash preservation than for spending money to buy domain names. Companies will still buy domain names, but it will likely be on an “as needed” basis.

I think domain names will continue to sell, especially as people opt to start their own businesses and need to have a domain name for their web presence. My strategy for getting my names in front of these people is the same as it has always been. I have many of my domain names listed for sale on Afternic / GoDaddy, and I also have “for sale” landing pages. Some are inquiry pages I have set up via Embrace.com and about 150 are buy it now / make offer pages set up via Dan.com.

Instead of spending (likely wasting) time on outbound marketing, I am going to spend that extra time evaluating my pricing. I think some of my domain names are priced at a higher level than they should be to close deals, and I am going to reevaluate the prices that I think will help induce deals.

I will also be going through some old inquiries and leads and reach out to people that were previously interested in domain names I still own. Perhaps a previous prospective buyer still has an interest in a domain name, and re-engaging the prospect could lead to a productive discussion.

It would be great if others share their thoughts about outbound marketing at this time.

9 COMMENTS

  1. I am taking the opposite stance. I believe in times like this, companies need to be more creative than ever to secure their future prospects, and this in my industry is more relevant than ever. I am dealing with major media companies for my major $20M US City portfolio. (See LosAngeles.com for the list) Now, while I am in discussions with 3 major companies, and 3 private equity firms, it still hasn’t closed. The major companies I’m dealing with have all had their stock shares lose between 30-70% over this past month; private equity seems to only be jumping in on distressed opportunities. I am not saying I will strike a deal with a new company within the coming week; but what I am saying is that during times like this, M&A executives really need to look in the mirror and evaluate future opportunities that could be game changers for their business. And I believe I have the exact inventory to be the game changing acquisition many of them need, as we transition from print to digital. So for me, it is full speed ahead. In my business history and experience, some of the most profitable and creative deals have been hatched during difficult and desperate times.

    • Fred…i couldn’t agree more. When everyone is saying this is not the time to be selling/marketing, I know it’s time to turn on the charm. I made a connection with an individual the Friday after Thanksgiving years ago that resulted in a multi-million dollar long term contract because the new CFO of a major hospital chain answered his own phone, and his administrative assistant wasn’t there to cover for him.

      I just noticed you’re on Linkedin so I’m sending you an invite to connect. Two heads are always better than one and maybe we can share some of our experiences. btw, i was born in the DistrictofColumbia.com 72 years ago so I’m interested in seeing your site, and learning more about you and GEO domains. Thanks

  2. Elliot. Its a phenomenal question and issue for discussion. First, I am making sure I reach out to at least 10 friends, 5 doctors, and 10 business contacts every day to simply see how they are holding up and in the case of doctors and friends, offering to do anything they need provided it involves zero violation of stringent distancing. With the business contacts, specifically domain related, I say family first and state my understanding of the uncharted waters we are in. I will put a sentence or two, about how I also believe some of the best opportunities happen in the hardest times and I am here to discuss the domain If it makes sense, and there may be an opportunity to improve the acquisition. While I am unsure if any solicited deals will happen right now for all the reasons you state in your no outbound piece, I do believe that some of the greatest opportunities and innovations come out of these times (ie Facebook) and some deals will close. It’s a delicate balance, but my primary motive to reach out right now is just to make sure people are OK. Lastly, I do believe the specific domain makes a difference. I am working on some domains, where they are category or exact matches for industries that are likely thriving in this crisis, because they offer some thing that is important right now. For example, OneCloud or OnCall products. It’s important to be sensitive to the industry before “out bounding with an agenda”. In conclusion, you have to pick your spots here and the matter what, the people you are emailing in their lives and caring about their well-being should come first.

    • I agree with you about picking spots, but I also feel like most business owners (not in spaces where there is now massive demand for their products) are trying to figure out how to keep family safe / healthy and businesses operating / afloat rather than looking to bring on new costs. Businesses that are busy – like manufacturing, medical, health services…etc. are super busy operating their business and probably don’t have the bandwidth to discuss a domain acquisition.

      Put simply, I think an unsolicited outbound email selling a domain name will almost certainly be ignored or piss someone off, depending on the situation.

      On the flip side, if you’ve been negotiating with someone for a while or have a repore with someone, they might be a bit more receptive to a good offer or reduced price on a domain name of interest.

    • Thanks Andrew…my point is, if you believe in your product and if you’re fair, you really owe it to the potential “end user” to show him/her what you’re offering. Granted, I use to be in the medical billing business and as such I sold services to hospitals and doctors, and now isn’t the time to bother these folks. I have a lot of restaurant and food service names as well, and I wouldn’t be bothering restaurant owners either. However, restaurants already have their names, but to over 10,000 culinary students who graduate with degrees in culinary arts this spring, they need to know I have names to offer them whenever they decide to start their own restaurant.

      Finally, it’s times like this that a little levity used properly helps. I started a lunch group called “Silver Snickers”, and we were to have our first monthly luncheon today where we were going to feature via youtube some of the best Jewish comedians from our era. Unfortunately we had to cancel it, but we’re sure to be back to snickering in a month or two.

      Remember, “Smile for no good Reason☺”

  3. Elliot – I am with you 200%
    I made the decision on Sunday to pause my outbound efforts – at least for 4-8 weeks. I don’t see things being in a stable/good enough situation before that. It could easily be closer to 12 weeks.

    I decided my time now is better spent adjusting BIN prices, pruning my portfolio, and spending additional time on other project(s).

    I agree that times like this do present unique opportunities – but I don not think they are in outbound marketing of domains.

    • Jackie Goldstein,,,,my grandfather Benjamin Goldstein (NYC 1896 -1965). Note, i just sent you an invite to connect via Linkedin…check it out cousin☺

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