Congratulations. You just sold a domain name, and now it’s time to rest on your laurels and forget about it all—right?
Wrong.
Selling a domain name isn’t the end—it’s the beginning of a grand new relationship with your buyer. It’s the moment that presents the most potential you ever had with this domain, other than developing it, of course.
The domain sale itself can be quantified in monetary terms, but what matters is how to maximize this opportunity and strike an even bigger deal.
Allow me to explain by using a simile.
When the car dealership sold you that brand new car, they gave you a bunch of goodies and a key. Assuming you financed the car through them, they probably also gave you payment stubs, perhaps even a car air freshener or two.
Even if you paid all cash for the car, once out of the dealership, your relationship has just started. Your services will be scheduled quarterly, you’ll be notified of any safety recalls for the vehicle, and the occasional follow-up call or two will probably end up leading to more future sales. Perhaps your mom needs a new SUV!
By selling the domain name, whether it was done directly or through your favorite brokerage, you have opened wide a new class of opportunities.
Don’t worry, you are not going to be traveling across the country to deliver speeches at the buyer’s HQ about how great domain names are. What you can do, however, is establish a new business path to a variety of highways that are awaiting you.
To get there, there are some things that you need to do in order to establish that overpass, and I’m here to help you with a five-point checklist.
Check point #1: Find out who your buyer is
It’s the necessary starting point, and perhaps the easiest to ignore. Many domain investors seem to have no interest to find out who acquired their domain, as long as they got paid. If the domain buyer’s credentials weren’t made public during the transaction, wait until it resolves to a web site, gets pointed to a new DNS, or the WHOIS information changes. Once you know for certain who is your buyer, move on to the next point.
Check point #2: Research your buyer’s company, services, and products
This is where it becomes interesting. Find out details about your buyer’s company, their history, their founders and officers. Research their press release track, and locate any news indicating what they plan to use this domain for. Their product or service line may hint of recent or upcoming launches. Use this newly found wealth of information to make contact in the next point.
Check point #3: Reach out to your buyer
Once you are ready, contact your buyer with a short but concise email. Thank them for the opportunity to provide them with a great domain platform for their product or service, referencing what you’ve learned from the previous step. Introduce yourself and your business, not forgetting to provide links to your web site and professional social media accounts. Before you send that email, don’t forget to complete the next step!
Check point #4: Ask your buyer to rate their experience
As a domain investor, it’s very important to be aware of your buyer’s opinion on the domain acquisition experience. Ask them to rate it on a scale of one to ten, and to add any suggestions and recommendations. This is the most important feedback that you’ll be receiving at the point of sale, and you should use it to improve any existing processes, and as the source of your clients’ testimonials.
Check point #5: Followup with a contact
Six months to a year from now, depending on the type of feedback that you received, it’s time for a follow-up. Did your buyer launch the product or service dependent on your domain? Are they becoming known in their industry thanks to the domain asset you sold them? Gather all this info, and reach out to them for a follow-up. Hopefully, they will share their success with you, and a new business relationship will thus be forged.
Conclusion: Selling a domain name is not the end of the transaction. Like any relationship, the exchange can lead to a myriad of other mutually-beneficial directions, as long as you put in the time, effort, and follow these five steps above.
Speak Your Mind