Rewind five years ago and I got about one inbound offer a month, now I get 200+ offers a month and the good old Google Sheet became a less-than-efficient way to keep track of inbounds. I would say that for every 100 offers I get, one is from a qualified buyer that actually wants to buy a domain at a realistic price.
This is where Google Sheets (formerly Excel Docs) fail because it’s almost impossible to keep track of emails, phone calls, etc. Also I learned years ago that following-up on inbounds over time can convert some duds into sales. Here’s a great example of where a spreadsheet really fails for managing inbounds.
You can an inbound from an interested buyer, you have six phone calls and send 24 emails through the course of negotiating the deal. Then the buyer goes dark. For those who have been selling domains for years you know this (unfortunately) happens all the time.
Six months go by and suddenly the buyer is back…the problem is, you can’t remember what happened on those six calls, and you’re scouring your inbox looking for each individual email. It’s a mess, you’re less organized, and over time you’re not collecting data on the number of calls, emails, etc. that it takes to close a deal.
With Salesforce all you have to do is pull up the account and there it is, a log of every phone call, every email, notes, etc. all in one place. On top of this you can run reports so you can see exactly what % of inbound offers turned into conversations, what % turned into deals, what % of failed deals come through, and all the other granular details that can help you get into the data.
Of course there are many ways to keep inbound offers organized. So now I’d like to ask you – how do you keep track of inbound offers on your domain names?