Let’s talk about increasing your chances of selling a domain name using data and best practices.
Domain names sell for a vast number of reasons, but they often come down to marketing campaigns and branding. Marketing efforts can be catchy taglines, call-to-action terms, or terms that are “sticky” (memorable) and direct everybody to one spot. JustDoIt.com is a great example of a marketing domain name. Nike owns and uses that domain to tie in with its famous slogan: “Just do it.”
Useful branding domains can connect to a company’s main brand name or to products or services within a larger brand. For an example, DeWalt is a main brand name but under the DeWalt brand is a product called Flexvolt. DeWalt uses the Flexvolt.com domain to easily direct people to the Flexvolt line of products.
In both of these examples, the companies redirect (forward) these domain names to specific pages on their main website. The redirect is one option, and a fully dedicated website using the domain name is another.
Extension / TLD (Top Level Domain)
“.com” is statistically proven to be the most popular TLD. It’s called “the king” of top level domains, and for good reason. In fact, nearly 90% of domain name sales are .com domains. If your domain name is a .com, you are already increasing your chances of selling it.
Character length is important to a domain name’s value. This isn’t set in stone – some longer keyword terms will break the rule – but the data shows the relationship between character lengths and sales prices.
- $100K or higher: 5.8 characters or less
- $10K-$100K: 6-8 characters
- $1K-$10K: 8-10 characters
That is some telling data! Domains that are 10 characters or less are the sweet spot. The shorter the name, often the higher the sales price. Now, it’s important to keep something in mind: the domain names that these numbers apply to are terms that make sense or have direct meaning. Often these are dictionary words or combinations of dictionary terms. AAAAABB.com isn’t likely to sell in the $10K-$100K range just because it’s 7 characters long. On the other hand, PullString.com makes sense and is an actual domain that sold for $6,500. VinylWrap.com sold for $7,000. The higher demand (popularity) is often reflected in higher prices.
Capturing the Lead
What people find when they look at your domain name is an important part of the sales process. Can an interested party easily contact you? Will they know that the domain name may be for sale? Does the landing page offer information in the language the interested party speaks? Do you speak the language of the interested party? Is there a phone contact? Is your asking price realistic?
It is a best practice to present an easy path for interested parties to contact you about buying your domain. The best way is to have the domain name go to a landing page that mentions the page is for sale and gives your contact information.
If you aren’t used to negotiating, you should consider using a domain brokerage service to handle the process for you and help you make the most of your sale. It saves you time, and if you pick the right brokerage service, you can trust that the company is working for you and has the resources to close the deal. Uniregistry Brokerage, for example, is a proven leader with the highest median sales price of any existing domain name brokerage firm. In 2018, the mean (average) domain name sale price at Uniregistry Brokerage was $9,200, with a median average sale price of $3,500, nearly $1,000 higher than other leading services.
For any domain name that you would be happy to sell for $5,000 or less, set a “buy now” price to buy it immediately. If you’re not sure, don’t set a price on a whim. In those cases it is a best practice to accept offers and gauge interest. Higher demand should mean a higher asking price. Low demand could warrant a lower but in-line, data-proven price point.
Think, “What would I do? Would I name my brand this? Would I use this term in a major marketing campaign?” Say it, write it, and enjoy it. If the domain isn’t visually appealing, or doesn’t roll off the tongue and present well, it’s less likely that somebody else would consider it. It’s important for a domain to be clear, easy to spell, and memorable.
We hope this information helps you, whether you are buying or selling domain names.