poll Best Pricing Strategy

[TopBrandsForSale]

Hi, I'm wondering which price has the highest STR.
And if this really matters.

 

[abcuser123]

Hi ArielT

I am Singaporean Chinese and its true that the number 8 in Mandarin is pronounced as "ba", which is associated with the Chinese character "Fa". For 8,888, it is considered an auspicious number as it is intrepreted as "fa fa fa fa", which means prosper financially in English.

On the other hand, the number "4" is pronounced as "si" which sounds like die. Hence, Chinese people try not to use this number in hotels or weddings (unless you are at a wake).

Hope this clears any doubts on the Chinese intrepretation of numbers!

 

[Bob Hawkes]

I am not sure it makes much difference, and over years keep changing my preference, but voted 1995.

As @Samer and @abcuser123 pointed out, the Asian interpretation of 8 as lucky probably has much to do with the 88 popularity, and several highly successful big sellers use it, I presume based on evidence within their own portfolio. I do use 88 for some of my pricing.

A Turkish marketing study, not based on sales of domain names in any way, found that triply repeating digits were effective, i.e. consumers might prefer $2222 to $1988. I tried it for a little while, but have switched most back.

Thanks for the interesting points made by all commenters, and to @TopBrandsForSale for starting the discussion.

Bob

 

[TopBrandsForSale]

I am not sure it makes much difference, and over years keep changing my preference, but voted 1995.

As @Samer and @abcuser123 pointed out, the Asian interpretation of 8 as lucky probably has much to do with the 88 popularity, and several highly successful big sellers use it, I presume based on evidence within their own portfolio. I do use 88 for some of my pricing.

A Turkish marketing study, not based on sales of domain names in any way, found that triply repeating digits were effective, i.e. consumers might prefer $2222 to $1988. I tried it for a little while, but have switched most back.

Thanks for the interesting points made by all commenters, and to @TopBrandsForSale for starting the discussion.

Bob

Thank you Mr. Bob for your contribution

I decided to switch back to 88 for now.

Let's see how it goes!

 

[Bob Hawkes]

DomainMarket is fond of 888 for the majority of their names, although interestingly the really high value ones they go to 000 pricing.

BuyDomains use a few alternatives, although a lot of their names end in 888 or at least 88.

SquadHelp seem to like 99 endings for premium listings, but exceptions, perhaps some of which are sellers changing prices.

-Bob

 

[SpareDomains]

I end in 99 but honestly I don't think it matters much. If someone wants your domain whether it's 88, 98 or 99 it will still sell. Focus more on...

1)Buying quality domains that an end user would want

2)Using a registrar that is capable for both Sedo & Afternic MLS to get eyeballs on your domains

No buyer is gonna say... "the price ends in 88 if only it was 99 then I'd pull the trigger"

 

[Bravo Mod Team]

According to research by NameBio ( @Michael) and Squadhelp ( @GrantP), it really doesn't matter at this price point:

NameBio:

https://twitter.com/x/status/1621065222948536320

https://twitter.com/x/status/1621065224697815046

https://twitter.com/x/status/1621065226660765696

---

Squadhelp:

https://twitter.com/x/status/1288267010867175424

 

[davidc1]

Sorry, but pointless thread. That won't sell your domain if the domain is crap.

Be sure that big players know what they do...

 

[Jannes]

Then why BuyDomains 88 and NameFind (GoDaddy) 99?
I don't understand.

Some of those big players think that they can afford to not experiment? I put my trust in experience backed up with experiments, not just years.

 

[phaethon]

Sorry, but pointless thread. That won't sell your domain if the domain is crap.

 

[poweredbyme]

Round numbers are more memorable and convert more for return visitors.
Being memorable is more important for higher priced items as buying decision requires comparison. Buyer has to memorize price to compare your domain with alternatives. Memorable prices are important also in buying decisions for budgeting and financing/borrowing.

To be more specific;

For 100,000+ I would add 4 zeros to the end (e.g., 120,000 - 680,000 - 310,000, etc)
Between 20,000 and 100,000, ending with 000 may perform better (e.g., 32,000 - 76,000 - 53,000, etc.)
Between 1,000 and 20,000 numbers ending with 00 have a better chance in my opinion (e.g. 16,700 - 5,800 - 3,400)
Between 750 and 1000 I would chose either 750 or 1000, would avoid anything in between.
Under 750, number doesn't matter much.
I would avoid cents.
Trying to sell domains under 100 is usually waste of time.

As to the original question, the best price would be 1,900 or 2,100

 

[WingMan]

If a buyer doesn't like a domain, pricing it at $1988 rather than $1995 or $1999 or whatever is unlikely to convince them to change their mind.

 

[dr manos]

with the 88 for the Asian investors
Avoid 4 and 0 inside

 

[Jannes]

Thanks

Some interesting stuff about price points from @twiki here..

Thanks, so 88 endings and especially 1488 are so popular because they just work. I guess I shouldn't worry about the hate symbol connotations. I'll avoid them in my euro prices, though.

 

[TopBrandsForSale]

I understand that guys obsessed with this silly strategies have poor quality names.

I understand that guys that don't take into consideration pricing strategies have a poor business mindset.

 

[davidc1]

Biggest player (hugedomains) use 95

 

[JB Lions]

I saw this thread briefly pop up in the NP sidebar for some reason and forgot about this article I had bookmarked:

Pricing Strategies for Domain Names​

https://namebio.com/blog/pricing-strategies-domain-names/​

I think this is one of those type of deals where people overthink and put too much into.

If somebody wants to buy a name, does it really matter if it's priced:

4888
4895
4900

It's not like somebody is a buyer at 4888 but 4900 is a dealbreaker. However, it seems that round numbers tend to close the sales, based on data from article above:

"The results are the same, an overwhelming majority end in 00 despite the pricing ending in 88 for pretty much every domain.

Obviously this is probably due in large part to negotiations over email or phone, perhaps the brokers are more inclined to use round numbers when making counter-offers. But still, what actually got someone to pull the trigger was a round number a majority of the time."

I had mine ending in 95 but as I update prices, I'm just rounding them off.

 

[Jannes]

Where does this $x88 $xx88 $x888 etc. frenzy stem from? I know there is someone who regularly reports sales of $xx888, but now everyone and their mother seems to be using those kind of prices when the traditional charm pricing (odd number endings) would make more sense, at least when we are talking about ”consumer level” prices, otherwise I wouldn’t even bother with charm pricing.

Yes I know about the value of number 8 when you’re focusing on the Asian market, because Asian sellers & buyers emphasize luck and good fortune, but I still find its popularity baffling.

As counterbalance, 88 is a neo-nazi symbol (at least in Europe; e.g. it's banned on Austrian license plates) and 1488 is also used by white supremacists.

 

[TopBrandsForSale]

Sorry, but pointless thread. That won't sell your domain if the domain is crap.

Pointless comment. Of course, the main sales driver is domain quality.

But pricing plays a decisive role in marketing and sales.

If you don't understand this concept, you should study the topic, my friend.

 

[phaethon]

Pointless comment. Of course, the main sales driver is domain quality.

But pricing plays a decisive role in marketing and sales.

If you don't understand this concept, you should study the topic, my friend.

I understand that guys obsessed with this silly strategies have poor quality names.

 

[TopBrandsForSale]

My two cents:

For prices under 1k I would apply these two options 750$ or 988$

For prices between 1k to 4k I would go with something like 1488 or 1699 or 1988.

For prices between 4k and 10k, I'll keep 4950, 6950, etc... (but I'm not 100% convinced about this)...

Above 10k I mostly price straightforward, 15000, 18000, 25000, etc...

What's your take?

 

[cooljub]

Some interesting stuff about price points from @twiki here..
15 Pricing Points / Tips: The $300 - $3K retail price range

 

[Peter45]

Wouldn't selling a domain for $99,999 be considered trolling?

 

[bmugford]

I am not sure it makes much difference, and over years keep changing my preference, but voted 1995.

As @Samer and @abcuser123 pointed out, the Asian interpretation of 8 as lucky probably has much to do with the 88 popularity, and several highly successful big sellers use it, I presume based on evidence within their own portfolio. I do use 88 for some of my pricing.

A Turkish marketing study, not based on sales of domain names in any way, found that triply repeating digits were effective, i.e. consumers might prefer $2222 to $1988. I tried it for a little while, but have switched most back.

Thanks for the interesting points made by all commenters, and to @TopBrandsForSale for starting the discussion.

Bob

Right off the bat, I would eliminate $2000.

There have been many studies on the psychology of pricing when it comes to round numbers.

From there, I don't think it really matters much.

I doubt that any of the various numbers would make much of a difference.

Brad

 

[Bravo Mod Team]

This means there is no impact for pricing a name valued under 2K anything between $1.99 and $1999?

Not necessarily.

These tests were done for domains that have a minimum appraised value of around $1,000 or more. Those appraisals were done by a veteran domain appraiser in the case of NameBio, or a veteran team of domain appraisers in the case of SquadHelp.

None of those appraisers would appraise cook-the-best-hamburger.live as worth $1,000 or more, so it wouldn't apply to it.

We hope that helps.