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hi all
i see this new marketplace biix.com Is there experience with this site and what are your suggestions?
i see this new marketplace biix.com Is there experience with this site and what are your suggestions?
Thanks for your patience. You made it easy for me a lot.Thank you for asking! biix is brand new, and totally different. We just soft launched the site this week and are really excited about adding value for other domain investors. We were trying not to advertise it too much as we focus on improving the experience of our newest users.
Most of my 8,000 domains have been on biix for the last 2 months for beta testing, so I have a large personal stake in making the biix platform as efficient and successful as possible. I also had 2 personal sales on biix close last week as I reported below.
https://www.namepros.com/threads/report-completed-domain-name-sales-here.83628/page-821#post-7922577
The reason biix was born
I've sold domains since about 2005 and at first I was really excited when sales started coming in no matter what commission I was paying, but once I started getting consistent sales, in 2007 or so, I felt my profits were pillaged by most marketplace options that were/are available.
In 2007, I had a domain sales revenue of around $26k that year. At the time, the amount of commission I paid was around $5.2k. At first glance, that looks great, but when you look at the real numbers of running a domain investment business, it highlights some obvious issues. The 20% commission rate was actually 32% (or more) of my profits for virtually zero value added. If the customers are finding me using my traffic, why was I paying 32% of my profits? The new "low" standard of 9% is better, but they would still be taking more than 14.7% of my profits, when I'm taking all the risk of purchasing and holding the domain.
My 2007 Sales
Domains (est): 1,200
Sales (est): 18
Revenue (est): $26,100
Domain Registrations (est): $10,200
Profit before commission (est): $15,900
20% Commission (est): $5,220 (32% of profits)
Profit after commission (est): $10,680
So in 2007-2008 I created my own marketplace, betternames(dot)com for 1 purpose, to save myself from most of the $5,220 I was paying in commission each year, because no other options existed. This worked, and BetterNames saved me several thousand dollars each year. The design of BetterNames looks okay, yet is probably in need of an update now to be mobile friendly. But after many hours and cash put into the site, while still looking mediocre, I realized it wasn't cost effective for most domain investors to build their own marketplace. The options that are available now either require time and effort, or in my opinion don't look very professional or don't do much to instill trust in the buyer.
biix gives everyone an affordable way to sell their domain on a trusted marketplace for the lowest fees possible. Plus we'll be adding additional value-added ways of selling your domains in the future.
Source of your sales
To put it simply, my domain sales over the years have been:
- 50%-60% from my landing page (I want to pay the lowest possible fees here)
- 40%-50% from afternic (I don't mind paying 20% because it's potentially bringing new business)
- 1-3% (from sedo and other marketplaces where my names are not parked)
Why biix?
Your landing page needs to do 3 things for you:
So biix helps you maximize the conversions of your landing page traffic, for a minuscule fee of just 2%. Your buyer pays the full escrow.com fee so you avoid all other processing costs. I've had 4 sales so far thru biix and not a single buyer even mentioned the escrow.com fee, so why should we be absorbing that as sellers?
- Reduce Buyer Uncertainty (RISK)
- Instill Trust with Psychological Assurances
- Be Cost Effective
The buyer's of Big Ticket items have Psychological Barriers that we need to overcome as domain sellers. These are overcome by reducing risk, increasing trust, and providing them unbiased information that helps to validate their purchase decision.
We include a NameWorth estimate on each page (free), which in turn affirms your price to the customer and reduces buyer uncertainty by having a 3rd party evaluate the domains value. If your price is much greater than the NameWorth estimate, as some of mine are, the NameWorth estimate automatically disappears.
To instill trust, we offer transactions via Escrow.com, who does over $265 million per year in secure transactions, and is the only company your customers will be familiar with in the domain industry, other than GoDaddy. We also offer quick support and include our BBB business accreditation for the customer to see right next to your price.
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Source:
https://sitetuners.com/blog/leveraging-psychology-to-remove-barriers-to-high-ticket-conversions/
https://marketingland.com/increase-conversions-big-ticket-items-121551
Sample biix Page:
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We are still adding features each day, so any feedback is appreciated.
For those that decide to sign up, thank you! We look forward to doing all we can to make your domain sales as profitable as possible.
Also, this isn't an introductory rate, but a personal commitment I've had to providing long-term value for domain investors. As a domain investor, I've walked your path and would like to fix the things that need fixing. We'll never jack-up landing page commissions on you, as our focus will be adding value, at reasonable rates, to the entire domain selling process.
Thank you and wishing everyone continued (or newfound) success!
Thanks for your patience. You made it easy for me a lot.
yes I am in Egypt this mean I cant use it,But don't be late to add more payment methods because I really want to try biixIn your case, you may need to wait for our future release of alternative payment options if you are in Egypt, as Escrow.com currently does not support bank transfers and disbursements to Egypt.
https://www.escrow.com/support/faqs/what-countries-regions-are-not-supported-by-escrowcom
sir if I have Payoneer I can use escrow is that right?In your case, you may need to wait for our future release of alternative payment options if you are in Egypt, as Escrow.com currently does not support bank transfers and disbursements to Egypt.
https://www.escrow.com/support/faqs/what-countries-regions-are-not-supported-by-escrowcom
sir if I have Payoneer I can use escrow is that right?
I'm looking forward to trying Biix! Does it have an option to offer suggested pricing on uploaded listings?
You mean your own escrow service as biix? If that's the case it might be promising. But if it's just escrow.com, then it's bye bye byeeeeeeeeeeeI believe Payoneer shut down all their domain escrow a couple years ago, but we may have something in process that looks promising.
You mean your own escrow service as biix? If that's the case it might be promising. But if it's just escrow.com, then it's bye bye byeeeeeeeeeee
DAN and/or Sedo?No, an alternate escrow service that sellers or buyers can choose as a backup service.
Thanks so much both for developing biix and for answering questions so completely in this thread, @NameBuyer.com ! I browsed the site as well as landers for individual names listed, and the professional appearance of landers, integration with NameWorth valuations, and low commission rates are all very attractive.I haven't got around to it yet, but plan to sign up and give biix a try. I too welcome another Escrow service as a future development.
Bob
I have domains on other marketplaces like DAN and afternic. If I upload domains on BIIX, do I need to remove them from other markets?
No, there is no exclusivity with biix. But currently it is only approving accounts that are pointed to biix. We’ll probably approve domains that are not pointed to biix in the future, but wanted to focus on those sending their traffic to landing pages first.
Half my sales come from Afternic as well, so we’ll be adding options so you can easily download your names from biix and upload them into Afternic, in the correct Afternic format.