Outbound marketing requires contacting prospective buyers to try and secure a sale, leased or financed purchase. This is an active outreach to buyers as opposed to waiting for passive inbound inquiries. Outbound sales on domains can be an effective means of producing relatively immediate cash flow for your domain portfolio in other to stay liquid while leaving some of your strongest prospects for patient inbound inquiry. When done professionally, effective sales through outbound marketing can provide business and build productive relationships.
The Elements of Outbound Marketing
- Have a convincing email Address: one of the most important elements to outbound sales is to have an email address from which you send your highly targeted prospective client targeted emails. There are many free email providers but I will recommend only Gmail as it is commonly accepted as a legitimate email provider. A custom domain name, preferably with an aged domain, could be a good way to add legitimacy to your emails for a small monthly fee.
- Have an Email Signature: In order to build trust and confidence with prospective buyers, having an email signature is very important when sending emails. When setting the email signature, the fields of importance are Name, Title, Email, Phone number, website, linkedln, facebook, twitter. Email signatures. The signature can be created in your email tool, Alternatively, you can use a third party email signature generator such as WiseStamp or HubSpot Signature Generator.
- Email Tracking Software: Email tracking software, or read receipts, simply allows you to know when one of your emails was opened. Services such as HubSpot or Streak allow users to track a small number of email opens per month. You can get some pretty useful data e.g. how many emails were opened, who opened the email, how many times they opened the email, etc. Although Email tracking isn’t entirely reliable, the data can give you a good indication of which your emails are relatively most effective.
- Keep Track of Prospects:- There are many customer relationship management tools out there but I will recommend the use of Zoho and Hubspot, this is very vital to know when to perform follow ups on target emails sent. An Excel spreadsheet can also be used for managing the list of prospects. This is more about contact organization to help with keeping track of to whom emails were sent to and the status of their interest.
Domain checks: Before making plans to market a bane it is best to make sure that the domain is still in your portfolio.
Landing Page: Check the landing page if it provides your buyer with the information they would need to verify that the domain is for sale. Check for any errors on the title tags. Description and contact info. It is best to use dedicated and professional looking landing pages. There are companies who provide quality and attractive landing pages for free e.g.. Epik.com
Marketplace: It is recommended to have your domains listed in various marketplaces. During marketplace listing, the “Make Offer” listing rather than a “Buy Now” price is preferable as this puts you in a stronger position when negotiating for prospective inbound inquiries that result from your outbound efforts to generate awareness that a domain is in play.
Finding Potential Buyers: There are tools and resources available online to help in analyzing potential buyers for a domain name. Below are a list of tools
- Search Engine Tool: In the search tool, use the domain to make a search. You can make use of Google Search Tool, Bing Search Tool, DuckDuckGo Search Tool
- Email Finder Tool: This tool helps you to find emails of a company through its domain name. Tool that can be useful are Hunter Email Finder, Snov Email Finder
Who To Contact: Emailing the decision maker in an organization is the best outbound strategy. When you have three or more companies you wish to contact, you use the email finder tool to get director emails and up to three of the key employees of the company (Marketing Director, Head of Communications, and the Company Manager)
When sending emails the most effective model is to have the email be short, simple and precise. The opening email should consist of either two sentences or two short paragraphs, which highlights the necessary information that will get the potential buyer interested. The closing should cause a form of action from the potential buyer.
To illustrate, below is a template sales letter
I own the www.xxxxxx.com domain name and I am reaching out to a few companies in the xxxxxx industry, to explore a possible sale of the domain name. Would you be interested in owning this domain name for to improve your brand and search engine visibility?”
Account Manager, Domain Brands
If the domain name is intended to be sold at high X,XXX USD, there is a need to be very aware about the company you want to make a pitch to. This will form your body of your sales letter that makes the potential buyer interested in your information.
When sending emails, keep in mind that ending with a direct question can promote conversation, could lead to an initial offer and eventually a sale. For example, you could also add in your sales letter “can we schedule a time to discuss further?”.
After sending out your initial emails, you may get some feedback from potential buyers, perhaps asking for the price of the domain name. However, you may have zero response initially. It is advisable to send a short follow-up email to those who haven’t been responsive, typically 5 days after the first email sent. You could also engage the potential buyer if you are very optimistic about the domain on their social media handles, e.g. Linkedln, Twitter, or Facebook, assuming you can find the exact target person.
During negotiations, it is best to let the buyer make the offer first. Don’t come across as desperate to sell your domain as this could get you low ball offers. If necessary, you can give a price range of your expectation, rather than a fixed price for flexibility in the negotiation. When offers are made on your domain name, it is often best to not accept the first offer.
During negotiation, there are few elements domainers need to know
- Know your potential buyer’s financial capacity, g.based on recent news and developments;
- Understand the best time to approach a corporate end-user is often in the first quarter of the year, and the last quarter of the year when discretionary funding is most available;
- When your potential buyer makes an offer lower than your targeted price it is best insist that they present you with a counter offer
- If you cant agree on a price, try and be creative with your negotiations, maybe you can provide leasing, financing, or even ask for one of their products or services? With startups, you can negotiate shares in their company
- Take emotion out of the negotiation, be professional and respectful
- Have a floor price and be prepared to walk away if the deal is not progressing
- Don’t be too aggressive with negotiation
Closing the deal
Once you have reached a price that is a win-win for both parties, it is best to close the deal either with the help of an escrow agent or domain marketplace. If you prefer to close the deal on your, it is wise to use a standard domain sales agreement.
When the deal is complete and transaction closed, it is best to send an email congratulating and thanking the new owner for a successful deal. It is often helpful to keep the relationship going by connecting with the buyer on LinkedIn or other social media. You are now a stakeholder in their success but also they are a potential source of future business, both directly and indirectly.
Lastly, if you have a website, you can request a feedback review, e.g. using a commercial service like TrustPilot.com or TrustRatings.com a free service from Epik where you can collect customer ratings and post them on your site.