General
Why We Don’t Report Sales Any More
Nov
We’ve always loved reporting some of our sales by doing articles on Profit, and then sharing them on LinkedIn.
A lot of people have asked why we don’t publish prices (unless there are exceptional circumstances).
Our policy has always been to never mention price out of respect to both the buyer and seller – and to our platform.
The rationale behind not naming the price is that if you get a real outlier sale (a higher than what is normal sales figure), every client thereafter expects you to get them the same sort of price. 🙂 And that’s just not possible 9 times out of 10.
Success attracts some problems
However, we’ve discovered a real problem that has lead us to stop reporting any sales. This has been based on feedback from our buyers.
As soon as we have highlighted a sale, our client then gets bombarded by emails from other parties asking if they would be interested in a variety of other (often inferior) domain names. It is apparently relentless.
The majority of our retail clients are “peed off” by this, and have let us know.
Accordingly, we have made the decision a couple of weeks ago to stop reporting any sales by way of articles. Instead, we will focus on other types of articles.
Sales are booming though!
Our platform is approaching the 3 year anniversary mark, and we have really put in the “hard yards”.
Sales are great and still improving steadily.
99.9% of our domains are priced, and the majority of them definitely leave something in it for the buyer. That’s why we get a lot of clients going straight to the “Buy Now” button.
One of the most popular features of Profit are our payment plans.
Everyone loves a great domain, but not all have the $$$$$ to pay up front. So a negotiated payment plan where the buyer can use the domain until fully paid for overcomes this potential stumbling block. As security for our selling client, we keep control of the domain until the last dollar has been received – only then does it get transferred.
Finally, we are a private platform, and we don’t accept every listing we get offered. We have offended some people by this attitude, but on the whole, we want to deal with like minded people and businesses.
Join the conversation
If you would like to make a comment, or ask a question, you can do so via this LinkedIn thread.
