Ever had a good domain name that you just couldn’t sell? And can’t figure out why?
I’m there. I’ve got a great two-word generic keyword domain that I’ve been contacting end users with and it won’t sell. It’s time to start asking the hard questions; is it priced right? is it really a good quality domain? am I targeting the right buyers? is there something else I’m missing? should I move on?
First, here’s some background. It’s townxxxxxxx.ca - a two-word generic keyword for a town in Alberta (pop. 12,000). The domain is a “.ca”, which is the Canadian domain extension. Any realtor or developer in the area should kill for the domain and the leads it would bring. That is the benefit for the buyer, the qualified type-in visitors that come to the domain that could result in business for them. Or a secondary benefit of being a great “brandable” domain for their business. I contacted 12 “end-users” by email, received two responses of interest that didn’t close because they said my asking price of $xxx was too expensive.
The key point here is the domain isn’t sold, so I have to ask myself the hard questions – and decide what next.
1) Is there something “not right” in my Selling mix? Ask yourself questions to see if you need to change something. If you find something you think can be improved, change it and try again.
- is it priced right?
- am I targeting the right buyers?
- is my communication good? (am I explaining the benefits? am I professional? am I building trust?)
2) Do I need more effort? – maybe I just need to target more buyers. Send out more emails. Pick up the phone, etc.
3) Is it worth the effort? Your time is valuable. How much time will you spend trying to sell this domain? Is selling the domain for a couple hundred bucks (or less) worth the time you spend?
4) When do you move on?
One of the toughest things to do is move on from a domain name. Maybe you’ve done everything right and it still won’t sell. Maybe that great domain isn’t so great. Or maybe you’ve discovered that there is no liquidity in your domain market. It’s time to move on. Your choices usually come down to
A) letting the domain expire. don’t waste any more time or money on it
B) trying to develop it – this will take alot more time invested. Is that worth it?
C) just holding it and wait for a buyer – this may cost you year’s of registration renewal fees without the promise of a buyer. Is that worth it?
It’s difficult, but I have to look at each domain name in the cold, hard light of numbers and return on investment. Is it making me money or not? Is it bringing me a return on investment or not? Is it taking up more time than it is worth?
Maybe it’s time to MOVE ON – learn from it and make a more profitable investment for my business next time.
UPDATE: Later that same day….the “domain that wouldn’t sell” was sold to a realtor who is planning to build a website on it for their business. Lesson for me? Patience.
