As of a certain point, during a conversation with a potential buyer, you end up understanding that you’re just wasting your time.
In other words, that there’s no way you’ll be able to seal the deal and that further back and forth discussions are useless.
I don’t give up easily but in some cases, even though I’m a pretty polite/reasonable guy, I stop replying. For example:
1) If the other party starts using foul language
2) If we’re waaaaaaaay too far apart price-wise
3) If we had something like a formal or even informal agreement and the other party blatantly and shamelessly disregarded it
4) If it’s clear to me that the other party is a time waster and not a buyer (in other words, if he/she constantly asks an overwhelming number of questions and seems focused on everything aside from sealing the deal)
… you get the point.
In most cases, the other party will give up after a follow-up email or two and occasionally, after having a chance to “cool down”, the person in question changes his/her attitude. If that happens, then on a case by case basis, I may decide to start communicating again.
Those of you who know me are well aware of the fact that I’m very calm, polite and reasonable.
But in some cases, even someone like me decides that not replying is the rational thing to do 🙂
September 22nd, 2013 at 5:49 pm
Good to hear how others handle things like this.
Btw, how do you handle most of your prospect communications?
Is it a combination of email and phone?
Thanks,
Jen
September 22nd, 2013 at 9:28 pm
Slightly off topic, but how you respond in general is more important than when you stop responding. Some of the best salespeople in the world are persistent and know their customers, and know how often to respond and when.
There are too many ways to respond / have a sales conversation. What personality type are you working with? What is the situation on their end? What is the context on their end? How have they approached the transaction? Did you approach them or they approach you?
Sometimes not responding in the middle of a negotiation leads towards knowing someone wants a domain. (when they come back and you left the table early)
Sometimes someone using foul language towards you makes you know how much they want the domain. If you ignore it and be polite and they keep up their tone, they are not worth it. Then again… They might be that upset because they printed business cards and flyers and are just up a creek without a paddle. Again, know the situation before walking away.
Sometimes insulting someone who seems very serious lets you know they are extremely serious when they ignore your insults. If you insult them and they ignore it, they are likely a buyer and you have the upper hand. Not the most ethical way of going about it…
Is it a phone conversation or email? If this is an email fewer words typically works best and leaves them wanting more. Unless you have a rock sold argument on your side – then paragraphs can help them see it they way you do.
Just some random thoughts. But there are a hundred different tactics. The most important thing is understanding their personality type and their motivation. Once you know those things you can sell them the best. It is why some car salesmen are rockstars and others are just in it for a summer job.
If you want to be a rockstar, don’t be overly pushy. Be there to help, but not to negotiate.
Also, don’t tell them you are the pricemaker. Tell them you have to talk to a business partner. As a salesman, you don’t want to hold the cards, just to be the conveyor of the price.
Just my own 2 cents from negotiating domain sales. Every contact is completely different of course.
On a side note, my second best sale came from telling them the price would double in 10 days. 10 days later it did. He/they did not like that the price went up – but they were given warning. I gave them 10 more days before doubling the price again. Same thing happened. 10 days later my price doubled again. Dozens of communications between us on this. I was trying to close the deal, and they always regretted it every day after. The fifth or so time, they bought the domain. Not happy about it. But the company understood the value and eventually bought!
September 23rd, 2013 at 1:39 am
@Jen: almost always email, maybe it’s because I’m not from the US but personally, I almost never communicate with end users via phone
@KD: great comment, it definitely deserves being published as a post, I’ll send you an email shortly 🙂