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Why Social Selling Domains Tips Negotiating Power

May 15, 2017 by Alvin Brown 1 Comment
Written by: Alvin Brown

domain-negotiating-powerIt’s quite popular, but posting domains with prices on Twitter might not be the smartest move for domain investors.

If you’ve been keeping up and watching the flurry of activity around @DomainKing’s Twitter posts, then you’ve likely been seeing a trove of domain listings.

It’s been entertaining to watch and learn at the expense of others. There’s nothing like learning from someone else’s downfall as well as their upside.

There are a few who have profited from the DomainKing’s barrel fishing experiment. Then there have also been an endless barrage of domains to be listed without one utter from the DomainKing himself.

All of this activity started as the great Twitter experiment:

I believe many are eager to receiving crowning words of the DomainKing himself without one thought about the future.

It’s fun and likely builds the self-esteem of those to be told they have a valuable domain name by the King himself. But what about the customer, your customer?  Isn’t this who you’re really after?

No disrespect to Rick at all. There’s no denying his experience and the success he’s attained since the early 90’s.

But domain investors MUST wake up and realize that Rick and his experiment IS NOT the desired customer.

Not only that… but domain investors are naively participating in their own demise should a customer ever Google and research the domain.

Let that sink in a minute… Think about it. 😯

We’ve gone from an “experiment” to “Million Dollar Wednesdays”:

From “Million Dollar Wednesdays” to “Spam Me Wednesdays”:

From “Spam Me Wednesdays” to “Best Name Thursdays”:

From “Best Name Thursdays” to “Domain Broker Fridays”:

Here’s the thing… These posts and your comments are going to live on long past the initial excitement and anticipation of the DomainKing’s response.

The fact that I was able to Google and find these specific Tweets and their long trail of data points should be alarming for some.

So, why the alarm? It’s simple… If you’re truly submitting your best domain names into this social selling experiment or experience, then you are likely sealing the deal on lost negotiation power.

Talk about leaving money on the table or allowing money to not be brought to the table. OUCH!

Now that your domain is forever cemented in Interwebs, here’s likely what happens next…

Should a TRUE customer execute a simple web search, YOUR true customer could very well find and flip the table of negotiating power in their favor.

Here’s how: You respond to their email with a 5-figure, 6-figure or 7-figure asking price only to have the customer fire back with a screenshot of your original post at 3-Figure or 4-Figure.

Who let the dogs out? Better yet, who left the gate open? YOU DID! That’s right… YOU DID!

Domain investing itself has enough challenges and headwinds to deal with to sustain a profitable business.

So why tip your hand to stack the retail negotiating odds in favor of TRUE customers by carelessly listing your best domain at wholesale prices for an experiment?

That’s a question that I can’t, nor should I, answer for you and yours…

Again, I think it’s a great social selling experiment by the DomainKing himself… He’s found his domain buying sweet spot. This isn’t to knock what he’s doing at all.

For those of you participating and engaging in such posts, think about your business strategy and how to best position yourself for the future domain sale.

Because just as the buyer could use a screenshot to leverage negotiation, you too could also use the same screenshots with the blessing and approval of the King himself to bolster your negotiating power.

It works both ways… you must ensure that you’re on the right side of deal (no pun intended).

Remember, from brokers to domain investors to CUSTOMERS, all eyes are glued in anticipation of his next post… but for different reasons. 😉

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Written by Alvin Brown
He's an experienced and passionate serial entrepreneur, founder and publisher of Kickstart Commerce. Alvin possesses a great love for startups dominating their market using profitable digital strategies for greater commerce.