by: Bruce Tedeschi
There is a little doubt that the domain name market landscape has changed. In the past 12-18 months, frequency of sales has slowed and prices have dropped as well. Pure domain plays are a tougher sale based on the fact that it stills takes capital to develop a good domain name and then try to turn a profit. Most buyers are now looking for established websites that are making revenue through advertising, product sales or click-through income.
So the question is, are you a fossil?
In a nutshell, are you stuck in the past using the same methods to sell you have used for years and expecting sales prices that are not even in the ballpark? If so, you will go the way of the dinosaurs, you will become extinct. The days of waiting for an email or call from a buyer interested in your domain name are over.
The market is saturated with domain names and everyone is trying to sell. Great names have to be filtered out from piles of low-quality garbage domains sent to prospective buyers each day.
If your methods are not working, time to be the future…
How do you become the future?
Use technology to refine your buyer search. Systems such as estibot.com possess tools for searching databases of 13-million businesses based ont he keywords in the domain name. Or; there is a pure search consisting of business with like names or paying for Google ads for the same term in your domain name.
Use Hoovers.com to see the size of the business lead and the year established. Ensure you do the work to understand the customers needs before you contact them.
See the need for the domain name and its future. You will need to convey this vision if your domain name is not a website and not established.
DON’T BE GREEDY! The best way to cut short a possible long-term relationship is to price your self out of the discussion up-front. Businesses are crippled in this economy and pricing a domain name for the market results in a sale. If you want a mint for your domain names, this is not the business climate for it now.
Forget about the popularity of selling domain names and then boasting about it. To lead people into the future, build systems to generate revenue and teach them. Constantly bombarding people with sales reports initiates much more contact towards you taking away time from doing business.
If you hold auctions or other online selling tools, market it weeks in advance. Poor planning will result in failure.
Use data to your advantage… MarketWatch.com will show the trends in business. Take like names and put the vision together in your sales pitch. Remember, no business plans for no growth. They plan for future growth and that is the way it needs to be presented.
The best tool you have is your mind. Be creative, be the future. Don’t become one of the fossils that exist today. If you don’t change with the industry, you will be left with a list of domain names and nothing more.