Buy It Now Pricing or BIN Pricing is a popular method of the domain selling strategy. The domain name aftermarket studies and research have more often proved it that- those domain names with a BIN sell more in volume over those domain names with the Make Offer option.
If we look at our purchase pattern over the internet or online – almost all of the items which we buy have a price tag. Chose any expensive product on amazon or just any real-estate property – All have a price tag
So, psychologically most of us have trained ourselves that every product will have a price tag. If we like the price we buy it and if we don’t like the price we don’t buy it. But, in order to make the buying or not-buying decision, we must like to know the prices before anything else.
So, if you are not putting a BIN on your domain names – remember that there are likely buyers who may not want to take the pain of negotiation forward. They simply switch to other related and similar domain names that have a buy it now price and is just under their budget.
It’s important to put proper and realistic domain name pricing – customers whether rich or poor often not like a price that is not realistic and is over the consideration price they like to pay.
So, doing your homework before putting a BIN price is as important as submitting a counteroffer on a make offer type of your domain name. And, when the domain investors put realistic and make-customer happy price tags – the sell thru rate increases, the volume of domains sold increases and as a result, the cash flow also remains steady and good month after month.