Mike Mann owns hundreds of thousands of domains and has built a very effective domain marketplace at DomainMarket.com. Through his Twitter posts of domain sales reports it seems he makes significant sales nearly every month. Whether that covers the renewal and operating expenses is up for debate. But Mike owns a number of businesses, such as SEO.com and Phone.com, that could help cover those expenses as well. There is no doubt, however, that Mr. Mann is one of the highest profile domain investors and sellers. Today via Twitter, he shared his domain strategy.
July 25, 2017 The domain strategy I recommend is the same as my own. Buy only the very best .Com; bifurcate collection to delete or sell cheap as much else as possible; then go high on rest, leaving an anchor in the mind of the buyer & a future negotiating position for yourself
— Mike Mann (@mikemanndotcom) July 25, 2019
The strategy is a good one:
- Buy the very best .com domains. Dot com is the only extension that can be considered a “safe” investment. Other extensions are speculative and risky, unless you have the perfect left/right combination.
- Bifurcate (nice word of the day) your portfolio. In other words, split your domains into groups. Domains you want to delete/drop, domains you want to sell quickly (for cheap), and those with a long-term strategy.
- The top tier, your best domains, go high on those. The way I understand Mike is to always keep the negotiation door open (leaving an anchor, and a future negotiation position for yourself). History shows that the biggest sales take place over months.
I would also add to that strategy, to be proactive. This means identifying and reaching out to targeted prospects. And creating a trusted domain sales brand for your domains. Plus offer the buyers different options to purchase the domain, like Escrow.com, Escrow.Domains, PayPal, wire transfer, etc. Even breaking up the payments into smaller monthly amounts.