This is a four-part series designed to help domain investors make good decisions on building a portfolio, marketing domains for sale, and reallocating profits. We have identified one Grit Factor for each section that is a key to domain investing success.
Parts in this series:
* Outbound Marketing and Dealing with Buyers - Patience and Persistence (Below)
* Reallocating profits - Rinse and repeat or level up? Grit Factor: Calculated Risk
Part Three - Outbound Marketing - Grit Factor: Patience & Persistence
Now that you have made some disciplined purchases, your domains are for sale on platforms, but you want to actively promote your domains for sale..how do you go about proactively finding buyers for your domains?
The first option is to contact a domain broker. Domain brokers, like us here at Grit Brokerage, are experts at finding the right people at companies to contact regarding a domain purchase, negotiating, and closing deals at favorable prices. Domain brokers generally will only take on premium domain names to broker, so if you approach a broker with newly registered domains or trademark type names then don’t be disappointed when your names are not selected for brokerage. Most domain brokers work on a commission-only basis and require a certain time frame of exclusivity (being the only broker actively selling the domain).
If you decide to try outbound marketing on your own, then we have put together some helpful tips for you. A good bit of research will be needed for this step as well and once you have identified a list of companies to contact, you can use either email, phone, or LinkedIn to try and make contact. It is best to use a combination approach and keep the opening message, call, or DM brief and to the point. If you do not get a response on the first try, that’s totally normal! This is where patience and persistence are very important.
Persistence is a key factor in outbound marketing. Surely, you’ve heard the phrase “Timing is Everything’. Oftentimes your first message may be received at a bad time, overlooked, or simply filtered to the spam folder. Your message may have also been received by an interested party but the potential buyer is hesitant to reply and needs more time to think about your proposal. If you do get a reply back ‘not interested’ this may just be a tactic for the potential buyer to take control of negotiation, so if you believe the domain is the perfect fit, it is important to be persistent and ask questions to understand why they may not be interested. Also, following up is one of the most important things you can do in outbound marketing. Once you send correspondence to a potential buyer, be sure to set a reminder within your CMS or however necessary to remind yourself to follow up again. Even if you’ve made contact and a deal seems to be imminent, at every stage of the negotiation process follow-ups will likely be necessary as a lot of times buyers get busy and need to be pinged about where they are in the sale process.
Being patient and trying to put yourself in the buyer’s shoes is another important aspect when taking a proactive domain sales approach. You want to spread out follow-up emails, texts, or phone calls a few days apart. It’s not a good idea to follow up too quickly, so sending follow-up messages out over the span of a month or so will likely get you more responses as people are busy and domain names are not at the top of their priority list, even though we think they should be! If you are patient and remain calm and detached from emotion, you will have a much better chance of making outbound sales.
A few other quick tips for outbound selling of domains. 1) It’s easier to guarantee a safe transaction for both parties if you close using a trusted 3rd party payment processor like Escrow.com. 2) Going back to the first part of this series, be very cautious about outbound marketing domains that are obvious trademark infringing names. 3) Be transparent, if you are reaching out to a company via email, you should use an email address @yourdomain.com, use your real name and it helps to have a phone number in your signature. 4) Provide your prospect with useful data regarding the domain you are trying to sell.
We hope this helps you begin a successful outbound marketing campaign! However, it is always recommended to use a domain brokerage to sell ultra-premium domain names like single-word domains so that you can maximize your sale price by leveraging our expertise. We’re always here to help sell your premium domain names here at Grit Brokerage.
