Learn How To Negotiate To Buy A Domain Name That Someone Else Owns

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Any business willing to be successful and generate sales would want to build a brand presence on both offline as well as online platforms. For building a brand presence online, you need to have a website. Since most people are using the Internet today, to get more information about a brand and even to buy products, it is essential to have a relevant domain name for your website. Aside from your brand name, your domain name should be such that people identify it with your business. Your domain name should be one that people remember easily.

There are many times when brands pick a domain name for their business, but those are already taken and being used by someone else already. In such situations you have to first look up who owns the domain name you want to use for your website. You may have to go to the domain aftermarket and find and buy domain name there. The next step is to approach the domain owner from whom you want to buy domain.

You must always keep in mind, the fact that the entire process of approaching the domain owner, making negotiations over the price at which you want to buy and actually going ahead to buy domain will demand a certain period of time before the actual closure will take place.

It is the negotiation aspect which is usually the most challenging. A solid strategy for negotiation is required to buy domain successfully. Given below is a guide on how to go ahead and negotiate with a domain owner to buy domain:

Decide On The Value For The Domain You Want To Buy

Keep in mind the amount that you would be willing to pay for a domain as well as the budget you have set for buying it. At this point, the domain name that you are willing to use for your website may actually be of a very high value of you, and so, you must be completely prepared to make a good bargain with the domain owner. The idea is to bargain with domain owner in such a manner that you do not actually give out the actual amount that you are willing to pay for the domain. This is the case especially when you are keen on a particular, unique domain name that you have set your eyes on.

Factors To Consider For Measuring Domain Value

When you want to buy domain, there are a variety of factors that you need to look at for evaluating the domain name. Factors like the revenue model of the website, the value of the niche or the industry associated with the brand as well as the model of profitability for the domain name. Social media also plays a significant role in adding value to the domain name. In case of social media channels connected with a given domain name, it adds to the value of the domain name and hence, to your potential website.

Another factor to keep in mind is that you need to conduct keyword research before actually approaching a domain owner for buying a domain name. Keyword ranking plays an important role when it comes to gaining organic, free traffic. At this point, you need to avoid domain names that have trademarks. Such domain names will incur you long and costly conflicts regarding the trademark in the future.

Contacting Domain Owner

You can approach the domain owner via email. You may go ahead and show your interest in making the purchase for the domain name and quoting a price. You can then go on to end it with asking them to get back to you if they are interested in the deal. Make sure to pitch a price lower than what you are willing to pay, though not so low that it sounds insulting to the domain owner. The idea is to leave the room for the domain owner to peg the price of the domain at a level that is within your budget level, without having to give away this fact. At the same time, if you are at a position to be able to pay a high price for a given domain name you can actually close the deal faster. But the aim is to strike a bargain.

Bringing In A Sense Of Urgency

You can actually get closure on the deal as soon as you would want to by adding an element of urgency. You may present an indirect deadline to the domain owner, within which you are definitely required to close the deal. You can say , for instance, that – “ I am willing to pitch in $ 1500 on a domain name within the next 10 days for a domain name and yours has really interested me….”. You can also say that your boss or your investors have asked you to close a deal in the next two weeks. Another idea is to tell the domain name owner that their domain name is among a few options that you are considering to buy a domain name, which puts the pressure on them to ensure they sell their domain name.

When the domain owner is approached with such a prospect, they wouldn’t want to miss on such a great opportunity at losing a possibly fruitful deal and would be prompted by the deadline to take quick action.

The domain name generator offered by Shopify

The truth is that it’s not always possible to buy domain name from someone at a price that you’re happy to spend. If that is the case it’s a good idea to get creative and arrive at a domain name idea that still hasn’t been taken by anyone else. This reduces costs, and lets you use the money elsewhere in your business. You can always use a free domain name generator such as the tool offered by Shopify to come up with a good domain name idea. You can buy domain name straight from the tool interface as well.