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Thread: Is it necessary to offer bonuses as upsells when selling a site on Flippa?

  1. #1
    Moderator Kay is a Premium Member
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    Is it necessary to offer bonuses as upsells when selling a site on Flippa?

    If I were buying a site, I'd probably much rather have the site without the bonuses. Let's face it, the bonuses are probably of no interest to me anyway and are most likely just another way for the seller to screw an extra few bucks out of me.

    Apparently it works like this. If you're selling a site, you should offer a few bonuses along with the BIN. This encourages people to use the BIN and it's cheap and easy for you to outsource it and make a profit on that too.

    Outsourcing SEO to someone on Fiverr is probably the easiest way.

    Is this advice still relevant? Is anyone here doing this? Would you recommend it or have you got any better suggestions?
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    Clinton (13 November 2013)

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    aka "meathead1234" Thomas is a Premium Member
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    You're not really the target market for the BIN bonuses - the vast majority of Flippa buyers (in the <$1k range) have never bought a site before/have no time so would value the bonuses. I doubt you'll find many experienced webmasters like yourself buying a site for the bonuses They increase perceived value to most people - and that's the idea. You can't incentivise everyone.

    I haven't sold sites at that level for years now, but the concept will still work. I don't see why it would ever stop working - increasing perceived value is always going to improve sales (especially at the lower end of a market).

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    Chabrenas (13 November 2013), Clinton (13 November 2013), Kay (13 November 2013)

  5. #3
    Moderator Kay is a Premium Member
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    Thanks, Thomas. I'm reading everything I can get my hands on about selling websites. Two reasons. One, I have a lot of half-baked stuff and I'll need to get it fixed up before I sell it. Two, I'm planning to collate all the selling info on EP, plus research from elsewhere, in the same way (or similar) to how I did the EP Guide to Due Diligence.

    To be fair, the advice I referred to in my OP did suggest that the bonus idea works best with gullible buyers at the low end of Flippa.

    But bonuses are used a lot elsewhere too. I guess you're aware of that BIG launch recently for the MMO product that would make you $100k per MONTH on Amazon (FBA). There was a competition and a leaderboard to record who was selling the most. If you took a closer look at the leaders they were offering some whopping bonuses. You know, the kind of thing that sounds really impressive but is all smoke and mirrors. BTW, that MMO product cost $4,000, but I digress...

    One interesting bonus is consulting, where the seller offers x hours of their time. I can see how that could be valuable, depending on the person, but it's quite funny (scary?) to imagine being coached by some of these career sellers.
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    Quote Originally Posted by Kay View Post
    One interesting bonus is consulting, where the seller offers x hours of their time. I can see how that could be valuable, depending on the person, but it's quite funny (scary?) to imagine being coached by some of these career sellers.
    That would depend on the type of coaching would it not? If they were offering coaching on how to sell things then that coaching would be invaluable to a newbie.

    I'm no expert in anything, but I could confidently say that a talk with me for a few hours could probably save some complete noob hundreds of hours of reading and possibly thousands of dollars in lost money to scams and the such. In the land of the blind, the one-eyed man is king.

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    Quote Originally Posted by Kay View Post
    To be fair, the advice I referred to in my OP did suggest that the bonus idea works best with gullible buyers at the low end of Flippa.
    I think that the appeal of the bonuses is not necessarily to just gullible buyers but more generally to buyers who are buying a site for the first time. Some of the bonuses I have seen are things like plug-ins that might have value but someone who is more established probably either has them or already has alternatives. For the newly hatched website owner, they may have value.

    Of course, they also appeal to gullible buyers.

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    Moderator Kay is a Premium Member
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    Agreed, David. Therefore, when you're selling a site (or writing a book or course about how to sell websites), then you need to be very clear who your buyer is.

    Most of the books/courses I've looked at so far seem to be very much in the camp that buyers are very gullible and the best way to sell sites is to play on that gullibility. I guess when you look at numbers, eg how much churned out crap is sold on Flippa every day compared to sites at the higher end of the market, it's no surprise that most books/courses tend to teach people how to sell to the newbs rather than mentioning the more sophisticated buyers.
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    aka "bryanon"
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    Quote Originally Posted by Kay View Post
    ... it's no surprise that most books/courses tend to teach people how to sell to the newbs rather than mentioning the more sophisticated buyers.
    What you will soon discover is that there's only so much you can include in a book/course that aims to help someone sell a decent, revenue-generating site nowadays. Books/courses/coaches are only needed by the people who sell crap that wouldn't sell otherwise, i.e. without adding massive hype, BIN bonuses, etc. Good, decent sites sell themselves - be it through a broker or through a marketplace.

    That's obviously assuming that we're talking about the actual *selling* process. There's a lot that can be said/taught about the preparation side of things, and those preparations often start (or at least should start) 6-12 months prior to listing the property for sale. But this already falls under exit strategy planning, rather than under selling the asset.

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    Top Contributor Dave McM is a Premium Member
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    There are a couple of points in your post that I don't agree with, Bryan - at least as you've explained them there.

    For the sake of flow through the selling process, I'll take the second point first. I don't see the value of your distinction between exit strategy planning and selling the asset in this context. Either it implies that the preparations for sale aren't a necessary step in the selling process - but if they're not necessary, then why undertake them? Or else it implies that the preparations would be the same no matter what form the exit took and that there's no distinction to speak of between the preparations for different exit strategies - which is counter-intuitive.

    I also think it's simplistic to say that good, decent sites sell themselves. I'm sure there must be more than a few people out there who've plenty of experience of building and running good, decent sites but suddenly find themselves in the position where they need to sell one or more of them - and have no experience in doing that. Yes, I suppose they could wait around until a cold-caller emails them and offers to buy one, but how often does that happen? And how will they know they're getting a fair price or that the buyer isn't going to swindle them somehow?

    Besides, if the only people who need advice on how to sell are those who sell crap sites to separate fools from their money, then that doesn't speak very well of the would-be vendors who visit and join this forum, does it? I'd like to think that our members have more scruples than that, and that those members who feel their experience qualifies them to give advice here wouldn't encourage less experienced people to travel down that grubby little track. But I suppose I could be wrong.

  12. #9
    Moderator Kay is a Premium Member
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    Quote Originally Posted by Bryan
    What you will soon discover is that there's only so much you can include in a book/course that aims to help someone sell a decent, revenue-generating site nowadays. Books/courses/coaches are only needed by the people who sell crap that wouldn't sell otherwise, i.e. without adding massive hype, BIN bonuses, etc. Good, decent sites sell themselves - be it through a broker or through a marketplace.
    That's interesting. In the process of my research into the subject, I'll be taking a good look at what books/courses/coaches are already available in the market. Your own Flipanomics might be a good place to start. I've also spotted a few others which might be worth a look. (I'll probably review them on my blog.)

    In theory, I agree that it's a good idea to have an exit strategy when you build or buy a site. That would certainly seem to be the case for those who want to get into the flipping game. However, I'm sure there must a significant number of website owners (like me) who created or bought websites out of interest or because they anticipated an additional source of revenue. I know I should have been thinking about exit strategies at the time but it was a long time ago (nearly 14 years ago in some cases) and I was a newbie without much thought then of subsequently selling these sites. Clinton's Top Ten Tips seems like a good foundation to build on.
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  13. #10
    Moderator Kay is a Premium Member
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    Alasdair (AKirk) had some interesting observations about when the sales process begins:
    http://experienced-people.net/forums...-process-begin

    He outlined some reasons to build a business other than to sell it. It's an interesting take on the subject and a nice antidote to the marketplace being swamped by Flippa career sellers.
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