As visitors land on a domain’s landing page, they are usually prompted to do one of three things. Buy the domain now (BIN) at the indicated price, make an offer, or lease the domain.
Many investors opt to hide BIN and lease-to-own options, leaving just the facility to make an offer.
However, some prominent investors advocate using BIN and lease-to-own functionality, especially on lower-value domains.
Elliot Silver, the publisher of DomainInvesting.com, indicated that he switched all of his domain names valued at $10,000 or less to BIN listings with no make offer functionality.
Michael Cyger’s DNAcademy course advocates for BIN listings on domains with a retail price of less than $5,000.
Why?
Time
Time is a major influencing factor in setting BIN prices for lower value domain names.
Whether your portfolio consists of 50 or 50,000 domains, processing and responding to, and negotiating all incoming offers can be time-consuming. Sometimes, those negotiations can even be more demanding than a large sale.
Adding BIN prices to lower value names means zero negotiations on these domain names. This can free up significant time for other necessary domaining-related tasks.
Clear & Direct
Offering your domain name for sale using just “make offer” functionality can lead to lowball offers being submitted or unnecessary valuation discussions with potential buyers, which ultimately may lead nowhere.
BIN prices leave no ambiguity. A BIN price added to your landing page, or a marketplace gives a clear and instant indication that this is the price you’ll accept.
A potential buyer will immediately be aware of your expectations for the domain name. If the domain is out of their budget, they may move on and find a new name, or they may come back in the future with increased funding. Either way, it’s a win-win for you, the owner.
Impulse Buying
According to Invespcro, impulse purchases represent almost 40% of all money spent on e-commerce, with 84% of people polled admitting they have made an impulse purchase.
These impulse purchases are likely to be on lower-value products, but it’s helpful to know that the majority of humans are susceptible to making impulse buys.
While figures for impulse purchases of aftermarket domain names are likely to be lower, impulse purchases do happen. Adding BIN prices to domains, especially in the four-figure range, can help to improve your chances of scoring an impulse purchase.
A Higher Sell Through Rate
According to Afternic, between 40% and 60% of domain name sales come via a domain name’s landing page.
Couple that with their revelation that priced domain names improve your sales rate by 65%, and you have the perfect circumstances to create a higher sell-through rate.
Offering Lease to Own Options
For both lower and higher value domain names, lease-to-own may be another option to consider.
Like a BIN listing, a lease-to-own facility does set expectations of a domain’s value while also appealing to impulse buyers and boosting your sell-through rate.
Displaying a lease-to-own option on your landing page can also help you to generate regular income from your domain portfolio and increase your portfolio’s sell-through rate.
Aside from BIN capabilities, Efty for-sale landing pages offer the ability to integrate with Dan.com and take advantage of their lease-to-own service at just 5% commission.
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