A few days ago I received a phone call from someone asking me if I would be interested in purchasing a domain name that he was selling. His name was Steven, and his pitch simple. He said that was that he purchased the domain with the intention of developing it based off an idea he had. Regretfully, Steven did not have time to develop the site, thus the reason why he was seeking a buyer for the domain name.
I asked Steven if he was sure that was the case, or if he was really a domain broker. I then added that it was okay if he was. Many people purchase domain names and try to resell them for profit. I explained to him that if he was a domain broker then I had some tips that could help him find more success. I added that the only problem I had with his was with the cold call. My aim was to help prevent him from doing that again.
He then admitted that he was buying domains with the intent to resell. He said that he wasn’t a domain broker by any means. It’s just something that he has been experimenting with on the side. Steven then added that it’s been a very challenging and frustrating venture so far. Everyone he has called up to this point has either hung up on him or told him that they are not interested. In fact, many people were even rude to him, which made him feel very discouraged.
So, if you’re like Steven and want to create a successful business out of buying and selling domains, here’s my advice to you. This was the same advice I gave to Steven. I think this approach is much better than the approach he was taking. Put it this way, applying these tips really couldn’t make matters any worse. And if it makes things better, then it’s a win / win for everyone.
First and foremost, don’t try to sell domains by cold calling. In fact, don’t even try to sell the domain name at all. Cold calling is not an effective way to sell. Especially, domain names. Ironically, many of the domain names that Steven had available were really good ones. In fact, the prices he was asking was very fair too. The domain he wanted to sell me was only $60 dollars. Well worth it in my opinion. But Steve cold called me. And just like thousands of other people who get solicited on the phone, I was offended. Telemarketing is phone spam.
So, instead of trying to sell domains to people, create a way that will allow people to come to you. Also, during the phone call I tried to load Steven’s site and it wasn’t even developed. Alternatively, it was hosted free on GoDaddy.com. There was no establishment online, and it wasn’t even indexed in Google. I explained to him that the domain would have been more appealing to me if I had seen an immediate benefit from owning it. I also added that if the domain was developed, I would have been willing to pay much more than $60 dollars for it. Of course, that all would have stemmed on if I had found the site myself. Thus, why it’s important to have a site developed prior to selling.
The domain name that Steven wanted to sell has the potential to target localized keywords in my city for weddings. I explained to him that it wouldn’t take much effort to launch a site, get it indexed in Google, and even listed in Google Maps. The goal would be to pull top rank for localized keyword phrases in Google. This, honestly, isn’t difficult to achieve. It’s not like trying to target the keyword “Nike” or “Pepsi.” I explained to Steven that once the site was launched and ranking well in search, then traffic would start coming in. Part of the traffic would, in fact, be other local wedding businesses (competitors) checking out the new competition.
I suggested to include a sentence on the bottom of the page, explaining that offers are being considered for the acquisition of the domain. Doing this, would give a way for people to contact him who are actually interested in the domain. This saves a lot of time and frustration with making useless cold calls. Further, I explained that the site can even make money while he is waiting for a buyer. With all the incoming traffic for local search queries, the site can easily be monetized with ads, such as Google AdSense. It’s a win / win for everyone. The people who are seeking wedding services get directed to the right place via AdSense, and competitors interested in overtaking their competition can contact him with acquisition inquiries.
At the end of the conversation, he thanked me for my advice and time. He was very pleased that I took a moment out of my day to help him. Before hanging up, I emphasized on the fact that this system can be easily duplicated with all his domains. I suggested that he create a few HTML templates and graphics to use for multiple domains and focus on taking more of a systematic approach with this project. I ended by telling him that the results he desires should come a lot easier and the pay off should be much bigger as well. Especially compared to cold calling. He agreed.
Where do you stand with this? Do you think cold calling an effect way to sell domain names? Or, is taking a different approach a better choice? Also, what are some other ideas that you could share with others who want to be successful with buying and reselling domains?