Save time and sell more domains with Buy-it-now and Lease-to-own | 218
Education
Visitors are often asked to perform one of three things as soon as they arrive on a domain’s landing page. Make an offer, lease the domain, or purchase it immediately (BIN) for the listed price.
Many investors choose to conceal lease-to-own and BIN possibilities, leaving only the facility for offers.
However, some well-known investors support the use of BIN and lease-to-own features, particularly on domains with lower market values.
Publisher of DomainInvesting.com Elliot Silver said that he changed all of his domain names valued at $10,000 or less to BIN listings without the ability to accept offers.
In his DNAcademy course, Michael Cyger promotes BIN listings for names with retail values under $5,000.
Why?
Time
Setting BIN pricing for domain names with lesser value depends heavily on time.
It might take some time to analyze and reply to all incoming proposals, whether your portfolio has 50 or 50,000 names. These talks can occasionally be much more difficult than a significant sale.
There will be no talks on lesser value names that have BIN values added to them. This may significantly save up time for other crucial domaining-related duties.
Simple & Direct
Simply using the “make offer” tool to list your domain name for sale may result in lowball bids being made or pointless valuation talks with potential purchasers that may ultimately be fruitless.
BIN pricing are crystal clear. A BIN pricing applied to your landing page or a marketplace makes it crystal plain and obvious what price you’re willing to accept.
You can tell a potential buyer exactly what you want from the domain name right away. If the domain is out of their price range, they might walk on and choose another name, or they might return later with more money. In any case, you, the owner, come out ahead.
Impulse purchases
According to Invespcro, 84% of those surveyed admitted to making an impulse buy, which accounts for over 40% of all e-commerce spending.
Although these impulsive purchases are probably for lower-quality items, it’s nevertheless useful to be aware that most people are prone to doing so.
Although the numbers for impulsive purchases of aftermarket domain names are probably lower, they do happen. Your chances of landing an impulse buy can be increased by adding BIN pricing to domains, especially those in the four-figure area.
Increasing Sell Through Rate
According to Afternic, a domain name’s landing page accounts for 40% to 60% of all domain name sales.
You have the ideal situation to produce a greater sell-through rate when you combine that with their finding that expensive domain names increase your sales rate by 65%.
Providing options for lease to own
Lease-to-own could be another choice to take into consideration for domain names with both lower and greater value.
Similar to a BIN listing, a lease-to-own facility attracts impulsive consumers, raises your sell-through rate, and establishes expectations for a domain’s worth.
You may enhance the sell-through rate of your domain portfolio and the recurring revenue you receive from it by including a lease-to-own option on your landing page.
In addition to BIN functionality, Efty’s for-sale landing pages give users the option to interface with Dacom and use their lease-to-own service for an only 5% fee.