Buying and selling domain names is one of the most popular ways of making money online. However, many domain investors struggle to find buyers for their domain names. The following are some of the mistakes that you need to avoid when marketing your domain to potential buyers.
1. Setting a high asking price
This is one of the most common reasons why investors are unable to find buyers for their domain names. Setting a high asking price will put off potential buyers, especially if
the value of the domain does not match the price.
2. Giving an unclear identity
When it comes to digital goods, fraud and security are major concerns. Can you assure customers of a secure sale through a recognized escrow service? Always make sure you carry out business as professionally as possible. Customers should be clearly aware of the identity of the domain seller. This identity can be revealed by sending personal emails which contain your phone number and personal or business website.
3. Not describing the value of the domain
It is very vital to inform potential buyers of your domain’s value. Explain how your domain can be monetized or how it can be useful as a service or business. This will help you validate the asking price.
4. Not accepting offers
If buyers cannot find a way of submitting offers, they will automatically assume that you’re not ready to negotiate. To start accepting offers, you simply need to provide an email address or a contact form. In addition, you should always state that reasonable offers will be considered. Such a strategy will attract many potential buyers.
5. Not providing supporting data
When marketing your domain name for sale, you need to include important details such as search results numbers, domain age, traffic numbers and term popularity. When buyers see such information, they become more confident about investing in your domain.
6. Selling at the wrong time
Premature selling is one of the biggest mistakes of domain investors. Usually, the value of domains increases with time. It might be advisable to hold on to specific domain names for a while, especially those that are connected to emerging technologies and future concepts.
7. Targeting the wrong market
To succeed in selling your domains, make sure you target the right market. Find website communities, forums and social networks which are related to your domain name.
8. Poor marketing strategies
While attempting to spread the word about your domain for sale, you need to exercise moderation. Spamming will result in the immediate loss of credibility as well as business. You need to learn how to write compelling and simple sales copy. Avoid using things such as exclamation marks, dollar signs, CAPS, or words such as ‘generic’ or ‘premium’.
To succeed in domain sales, you first need to have a valuable domain name. In addition, you should take time to upgrade your negotiation, marketing and communication skills.
Charles Mburugu often writes about blogging tips and social media. He also blogs about discount and coupon offers such as midphase discounts and ANhosting coupons. Currently, he is writing for YouLoveCoupons, a coupon blog that offers midphase webhosting coupon and anhosting coupon.