Domain brokering — Outbound marketing (a guide)
There’s a lot of debate about whether or not outbound marketing of domain names is effective. For me, the highest sales I have recorded have been a result of proactively marketing domains. That said, not all domain names are created equal and as such, not every domain name warrants outbound marketing. I’ve found success in selling short, premium .com domain names, some of which include, CBA.com, BTC.com and eSignature.com.
The type of names I prefer to work with are those that fit in one of two categories, the first being premium keyword .com domains, often referred to as “category killers”. The second being one-word (English) brandable domains; for example, Perch.com, where the domain can be marketed to a variety of potential buyers. Note. These “brandable” domains require a little more care as to not impose or infringe on any registered trademarks.
If you intend to proactively market a domain name, some initial things to consider include:
Your “from” email address — use a credible address and avoid using free emails
Email signature — include all your phone, website and LinkedIn profile
Landing page — Ideally have a custom/dedicated for sale page
Marketplace listings — list as “Make Offer”.
I’ve found the key to success is planning; therefore, I dedicate a large portion of time to researching the market and compiling a robust prospect list. For example, when I sold BTC.com, I spent over 2 months studying the Bitcoin industry, creating a list of every company and individual who may have an interest in the domain. The end result was a target list of 100’s of potential buyers. For each prospective company, I would identify 1–3 key staff to pitch the domain to. I’ve found that those with marketing or brand awareness are the best people to approach.
The key to any marketing pitch is delivery and this is the case when composing an initial email. I prefer to email prospects, as it seems less intrusive in comparison to cold calling someone. In order to elicit a response, keep the email, short, concise and personalized. Scheduling a follow-up is also paramount.
The fun begins when you have received interest from prospective buyers and the negotiation starts. There a various school of thought when it comes to negotiating and, in my experience, you have to create your own personal approach and that comes with practice.
A vital component in negotiations is how the transaction is to take place. I strongly recommend using a third-party escrow service or an independent lawyer. Having an escrow provider is important in protecting the interest of all parties involved. They can assist in drafting sale agreements and navigating the fulfillment of the domain name itself.
I discuss the entire Outbound Sales process in greater detail in a series of articles with James Iles at NamePros.com. You can read them here:
Part 1: The Basics
Part 2: Finding Your Buyer
Part 3: Contacting Prospective Buyers
Part 4: Negotiating and Closing
