As a domain investor it happens all the time – someone reaches out, they hav a budget, it’s not insultingly low, but it’s also not high enough to hit the price point you’ve been looking for. Then, some period of time goes by, for some people it might be a month, for others a year, but time and time again I’ve heard from investors (and experienced it myself) – you follow-up with a buyer and their budget has increased and you make a deal.
What so many people forget is that things change over time. Someone who had a $5,000 budget for the domain you wanted $7,500 for might have a $7,500 budget six-months later…but that doesn’t mean they’ll reach out to you, especially if you never revealed what price you actually wanted.
I’ll be the first to say that I wish I reached out to people who inquired about buying a domain more frequently. As it stands I think I end up emailing people about once a year, and it usually happens in December when things slow down enough for me to take a step back and take the time to write personalized emails to everyone. Usually when I do this, I make a sale or two, sometimes it’s not for the absolutely highest price I’ve wanted, but if I’m willing to budge a little, I find that helps the effort.
Rather than reaching out and saying, “are you still interested in buying this domain?” I’ll usually send an email with the subject line – “Price drop – DomainName” and I drop the price by maybe 10% – 20%. I feel like a subject line like this gets people’s attention and honestly, I’m often okay dropping the price a bit if it means making a sale vs. not making one.
Ideally I think I’d like to reach out at least twice a year and in the future quarterly to really optimize on offers I’ve received. But that’s me. Now I want to hear from you – how often to you follow up with people who have put in offers on your domains? I want to hear from you, comment and let your voice be heard!