Adding a BIN price to a For Sale landing page does impact inbound offer volume

So I’ve been running a little experiment over the last few months with the For Sale landing pages that I’m using at Efty. The change I made seems like something relatively small but the impact has been fairly noticeable. What did I do?

I added a BIN price.

In adding a BIN price I decided to retain the “Make Offer” form below so that a prospective buyer could still make an offer if they wanted to. Here’s a look at what the above-the-fold looks like on my current Efty landers:

battle-stone-landing-page

The current landing page I am using is called “Hong Kong” hence the image in the background. One thing to note about this landing page is that you do have to scroll to access the form. Below is what you see once you scroll down the page or click the “Make an Offer” button:

efty-make-an-offer

So, like the post title says, after making this change I have seen an impact on inbound offer volume – it has gone down. That being said, while I’m getting less offers than I did before, I’m spending a lot less time dealing with tire kickers. Still I think there are two reasons that my offer volume has decreased:

  1. You have to scroll to get to the form. People are lazy, they see the domain, see the price, and if that isn’t the price they had in mind, they probably leave and never return.
  2. The BIN prices themselves might be scaring people away.

After running this experiment for a few months I have decided I’m going to move back to a more standard offer form landing page. I’ll take the tire kickers because sometimes a tire kicker actually turns into a real buyer so I’d rather engage with more potential buyers than less, period.

Still, I’d be interested to hear what you, my readers think. Have you experimented with adding a BIN price to an offer page? What was your experience? I want to hear from you, comment and let your voice be heard!

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{ 4 comments… add one }

  • Matt Holmes May 11, 2018, 11:38 pm

    Oh thanks for sharing, this is great. Have you experimented with multiple domains? Would love to hear more details oh the exact amount of offers each month on average and then one each month you had listed a BIN price. Also do you think your BIN price is high or low for each domain?

    Reply
  • Leonard Britt May 12, 2018, 10:57 am

    Most people looking for a domain are thinking $xx pricing. When they see a five-figure price…

    Reply
  • Jon Schultz May 12, 2018, 12:01 pm

    This is a difficult question. I think the key is educating people about the value of domains, making them aware of how much domains are selling for and the fact that they would be purchasing an asset which, if the domain is reasonably priced, they could potentially sell at a profit. I’m starting to think the best solution might be to have a “contact us for price” page, then you can maybe determine who they are and will have their contact info so if you give them a price higher than you’re willing to accept and they don’t respond, you can follow up over time lowering your price or offering various options.

    Epik gives you a lot of options with the landing pages you can set up there, they provide escrow, and only take 5% of the proceeds (or nothing on funds used for in-account purchases). You can offer a payment plan option with, say, 20% down and the remainder paid over a year, or a lease option with much lower monthly payments. There’s a lot of flexibility in the arrangements you can set up in the control panel and you can also write your own custom terms into the agreement the customer will enter into with Epik. One example is the page I have at Royal.tv

    Reply
  • Anthony Edward Mitchell May 12, 2018, 8:12 pm

    Mid-levels would be a more accurate name for that landing page, since that’s what we are looking at.

    Your landing page and price strategies are the most appropriate of all available options, IMO.

    Reply

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