I made a mistake a few weeks ago. I had a couple of domain name sales, and I made some changes to my portfolio based almost solely on these two sales. In retrospect, I don’t think I should have made those changes. I relied on a couple of outlier sales to change my pricing strategy, and it was a bad idea.
For nearly all of my domain names that utilize my Embrace.com landing page, there is an offer form rather than a price. My opinion has been that I can collect leads and offers, and I can always try and come back to those leads to close a deal in the future should a deal not be finalized at the time of the initial inquiry.
On a handful of names in my portfolio, I have a buy it now landing page created with the asking price listed. People can choose to click the buy button or submit an offer. I don’t use this landing page on many of my domain names because my gut says the asking price will either scare most people away, or the “make offer” link will ensure they submit a lower offer rather than agree to the BIN price.
A few weeks ago, I received a fair counteroffer to one of the few names that has the buy it now landing page. I ended up working out a deal with the prospective buyer and the deal closed shortly thereafter.
About a week after that, I sold a lower value name via Afternic. I did a bit of searching after the fast transfer, and I saw that the buyer had visited the landing page, which also had the BIN price listed. Unintentionally, the price on the landing page was 4x the price on Afternic. I had adjusted a bunch of prices on Afternic and I forgot to adjust the landing page price. I assume the buyer went through Afternic because he saw that it was a deal when compared to the price listed on the landing page.
Using this small sample of two sales, I put prices on a bunch of my landing pages. I figured this could drive additional sales because it worked twice in a short period of time.
In retrospect, I think this was a mistake and I removed the BIN pages.
One of the difficult aspects of managing my business is that I maintain a relatively small portfolio of domain names. Because of this, I don’t really have statistically significant data that can help me with landing page strategy or even my pricing. I need to realize that doing the same thing won’t always produce the same results.