I’ve received my first lead from DNS’ integration with GoDaddy. Here’s how it looks.
Earlier this month I wrote about how DomainNameSales.com users can now syndicate their listings to GoDaddy.com and DomainTools in order to reach potential buyers.
I recently received my first lead through syndication to GoDaddy, and here’s what it looked like in my DNS account:
Now, there’s a bit of a catch with the GoDaddy integration. GoDaddy customers basically fill out a form that is sent to DNS. They aren’t required to make an offer nor are they told about any minimums. That opens up the possibility of a lot of unqualified buyers. Perhaps it will be helpful if DNS brokers do an initial screen of the lead by informing the prospect of a minimum offer amount for that particular account.
acroplex says
It’s commendable that DNS is expanding its integration of major venues.
However, based on my experience with Sedo/TDNAM which was “the straw that broke the camel’s back”, I would not use any such integrated synergies, until GoDaddy gets off their high horse and provide a reliable platform, devoid of any lowballing, non-paying bidders and permits direct communication.
Therefore, I have disabled syndication on DNS.
AbdulBasit Makrani says
I have received several GoDaddy leads from DNS and I see couple of problems. First is it still shows the commission rate as 12.5% whereas it should be 20% which I have asked them to do couple of weeks back. One of the broker forwarded this issue on my request to the concerned dept but since than I haven’t seen the necessary changes but I am sure it will be done very soon…
The other one is similar issue which you mentioned above. There should be some minimum offer to be submitted by the inquirer. Otherwise we will see lot of people lowballing. So far I have got well over 10 GoDaddy leads but until now got no offer from the inquirer. I am sure most of those will be trying to hand register the domain. If there is any min offer than we will avoid such lowballers and/or people trying to hand reg domains…
Paul says
“Perhaps it will be helpful if DNS brokers do an initial screen of the lead by informing the prospect of a minimum offer amount….”
Amen!
Inquiries should be screened, too much wasted energy for everyone involved.
james says
For me these inquiries are extremely valuable. The value to me is seeing that someone else has an interest in my domains. Domains I was considering dropping I now renew based on the inquiry. It solidifies value to me knowing that someone else typed in my domain and searched it. I get dozens per day coming in from the syndication. Most have NOT resulted in a sale so I agree with the comments here regarding screening. With that said I still live to see inquiries as it helps with renewal decisions.
Robbie says
I have received over 50 inquires on this new syndication lead platform, many $500 to $2000 type offers, however none of them have closed, or when it is time to pay, communication stalls from potential buyers.
First poster is on the money, the leads are blind, so you are at a big disadvantage, I don’t think anyone would go behind the brokers back, so sharing lead info is important for tracing purposes.
Basically people come in looking to find a reg fee name, and are given a simple form to fill out, they have no idea they are going to end up paying a premium to get a domain, so you have a lot of dead offers.
It’s a good concept, but needs tweaking.
Jeffrey Gabriel says
Thank you Andrew for writing this article we appreciate it.
The GoDaddy opportunity has been a welcomed new opportunity for many of our clients. They are now receiving inquiries on domains they never had, and making sales that were not expected.
Yes, there are many buyers that might not have the same budget, or agree on the evaluation of the domains on our platform, however after qualifying, negotiating, and educating the buyers many have. This has turned into many new sales that we never would have had before for our clients.
To add an opinion to qualifying the lead before asking for a price, or requiring a minimum offer:
We have looked at it from the potential buyer’s prospective:
1. Buyer is a GoDaddy client.
2. Buyer searches for DomainNameSales client domain.
3. Domain is presented as available for sale.
4. Buyer clicks on inquire now button.
5. Buyer enters in contact details.
6. Opportunity is sent to DomainNameSales Brokerage.
7. Contact from DomainNameSales Brokerage.
Clients using our system are suggesting we ask them for an offer of at least X amount before getting a price.
This raises a few questions: Will the buyer be frustrated/have a bad user experience? They have already gone through all of those steps, are being contacted by a new company that is not providing them what they signed up for. As a buyer myself I would consider it a bit of a run around.
We quote every price here on the owned and operated portfolio. Typically, the opportunities that are presented to us do not happen in short periods of time. Some opportunities take many months. Saying I have received 5 leads and none have closed is nothing to be alarmed about. Those buyers who have agreed to a price, and are suppose to pay please contact me. We can discuss a solution. 800-818-1828 x8 Ask for Jeff.
My suggestion is take the time to price the leads that come in. In the beginning it will be more work than your accustomed to. In the meantime tell us how long your prices are good for. Make sure you include the commission in your pricing.
If I own Jeff.com and I price it for 100,000.00 USD, you should tell the broker when you send the price my quotes are good for 90 days, and the commission is included. This will be noted in your account.
We track the date you quoted it. That way our brokerage team does not need to ask about the same domain over and over. We have had a lot of success with clients who have done that with us. The more efficiently we can quote prices, the faster we can qualify the best leads, and disqualify those that do not qualify or find them an alternative in your portfolio.
Thank you
Jeffrey Gabriel
Vice President Of Sales
1-800-818-1828 x8
[email protected]
accent says
One DNS broker told me he does not ask for offers because at Godaddy all you get to start is $50 – $100. A low-ball offer is worse than none because it sets buyer expectations. Same with a minimum.
My direct inquiries have fallen. Is this really the same market? If a buyer looking for a specific domain found it taken at GD would they type it in to see if it is for sale? 20% commission on new business is a good deal, but not if it is the customers I would have anyway.
Those brokers can sell other domains to those GD customers also. If they focus on the original domain as long as it is viable, and each domain has an equal chance to be offered in this way, I am fine with that.
What happens if a customer fills out the form at GD, then goes to the domain and makes an offer there? What if he shows up 6 months later?
David says
I just had a domain sell on DNS through GoDaddy. My broker didn’t understand why the payment went through GoDaddy, and there was a lot of confusion. I’m still waiting on the payment to be released by GD to DNS then to me. I hope that process doesn’t take too long. I would’ve preferred closing through Escrow.com.
teri says
HI David,
Wondering how the payment process turned out. How long did it end up taking for you to receive payment? Was payment sent using your normal dns payout?
thanks in advance,
teri
Adam says
“the leads are blind, so you are at a big disadvantage, I don’t think anyone would go behind the brokers back, so sharing lead info is important for tracing purposes.”
What does a gmail account or an IP address really tell you ? Big buyers are stealthy. Think they don’t read this stuff. Work a blind lead like it’s the best buyer possible for your name.
I’m sure MANY people go around the selling brokers if they think they can gain the points that the broker is taking out. People are ruthless when it comes to this ask any broker.
SF says
As mentioned by someone above, simply showing the “Minimum Offer” amount to the prospective buyer Could solve a lot of the problems with the Godaddy leads.
IF they could see the Minimum Offer up front, it would give them an idea about what to expect …and it might prevent many of the non-serious buyers from going any further with the process and wasting everyone’s time!
Andrew Allemann says
I know some people don’t like showing a minimum offer because people who see it think it’s the asking price for some reason.
SF says
That is true. Perhaps they should call it a “Minimum Starting Offer” and show it to the prospect Before they fill out any forms. Admittedly, not a perfect solution. But, they do need to put something in place that makes it clear they are moving from the Godaddy hand reg phase to a secondary marketplace …with aftermarket prices. Surely they could come up with something.