Back in February 1st this year, my son Luke took over the domain businesses of Domain Syndicates and eTrading. He wasn’t quite thrown in at the deep end, because he’d been working for me on a part-time basis for about 5 years. So he well and truly understood the fundamentals of what I used to do as a “domainer”.
But it is still a shock to the system when you suddenly have to do it all by yourself!
Just over 3 months into his new adventure, he’s doing really well. His brief is very simple – he has to sell domains; not buy them. And he’s very fortunate because he’s got a head-start on a lot of people – he took over a portfolio of over 5000 names. He still receives enquiries every day via the Fabulous parking platform.
And with all due modesty intended, he does have a good mentor. Especially now I’m in semi-retirement. 😉
Whereas I was too lazy to do outbound marketing in my latter years, he has to do this – day in, and day out. Why? Because, in my opinion, anyone who wants to be a serious domainer has to understand how the marketplace really works. Even if you’re the son of the original owner, you have to start on the factory floor.
The Basic Premise
To get an outbound sale is a 4 step cycle. Prospecting, Marketing, Rejection and Success.
If you’ve got a half-decent domain name, there is a buyer out there if your pricing is right. You just have to do your homework and prospect properly. Then craft your approach – split test different templates until you find what works for you.
It’s human nature to feel despondent when a prospect ignores you or is rude or unrealistic. And that happens more often than not. But there is no better feeling than when you keep working at it, and finally crack a sale. The endorphins go “ape-shit”! 🙂
Here’s What Luke Does (Or Should Do!)
In my opinion, the following daily or weekly steps are fundamental in becoming a successful proactive domainer (these tips are based on selling only – not buying).
♦ Number one priority is keep track of your portfolio; and keep it up to date. I can’t stress this enough. Have your own record keeping – don’t rely on a registrar or some cloud based service to tell you when domains are expiring / need renewing. Luke has an Excel spreadsheet (saved to a few places) that he tends to every single day.
♦ Have a decent sales lander for each domain – make it easy for people to contact you or make an offer.
♦ Plan your sales program for the week ahead – and then diligently work your plan. This really works! When Luke started, I suggested that he market two domains a day – a total of 10 per week. Currently he is doing one “real estate domain” and one “3L domain” each day. So on Monday morning, he knows exactly which domains he is going to be marketing that week.
♦ When you know which domains you are going to be working, prospecting becomes easy. For example, if you’re marketing HawthornRealEstate.com.au, I reckon you could compile a list of at least 20 decent prospects in about 30 minutes.
♦ Keep records of who you contact, and who has replied to you. You must also keep track of those who contact you independently (via Fabulous or WhoIs). Have a good CRM system like HubSpot or Zoho. Or create your own spreadsheet.
♦ Follow up. As much as we’d all like people to say “yes” straight away, it’s a well-known fact that many sales only happen on the second or third call or email. Don’t be frightened to pick up the phone!
♦ When a sale has been made, make sure you control the Change of Registrant process; and keep the buyer informed by email every step of the way.
There are plenty of other ingredients that make for a successful domaining career, but if you at least follow these, you should feel like this bloke below!
Best wishes for your online success.
Ned O’Meara – 12th May 2017