The Big Issues in the Domain Industry - Part 2

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In this series of articles, I’m endeavouring to identify some of the big issues the domain industry needs to tackle through innovation. For the last number of years, the industry has largely been stagnant in many of the business models being employed by investors and I believe it’s time for this to change.

Escrow.com

In the previous article I looked at a couple of innovations for selling “stock item domains” and in this article, I’ll trying and provide some thoughts around selling “high value domains”.

The new gTLD domain extensions have created a scenario where we have a massive supply of domains. Regardless of your feelings about new gTLDs, having the same overall demand and a massive supply will tend to depress prices by providing additional options.

Just think about this for a minute. If you are a marketing director of a big company and someone offers you a .com domain for $500K or a new gTLD for $10, which would you take? They could essentially spend an additional $500K in marketing efforts and be in a net neutral position. Many marketing directors would believe their marketing efforts (ie. their smarts) are making the domain popular and not the other way around.

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The Big Issues in the Domain Industry - Part 1

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So what are the domain industry’s really big issues? What should we be driving innovatively to solve and what issues are way beyond the scope of short term solutions?

Escrow.com

When I think about the really big issues in the domain industry I find that I’m forced to reflect on the four primary business models associated with domains:

1.       Selling domains like stock items
2.       Selling high value domains
3.       Traffic monetisation
4.       Development

Selling domains as stock items is all about increasing the sales turnover of low value domains (sub $2K) in your portfolio. This is similar to a supermarket which operates on low margins wanting to increase the throughput of products being sold.

When you look at the incumbents in this market they have all been trying to increase the demand. This has largely been achieved through increasing the breadth of their distribution networks (ie. Registrars) so their inventory is exposed to a larger audience.

I see a number of innovations that centre on pricing that can be explored in this market and I will discuss two of them in this article. To date, the feedback from domain marketplaces has been that if a domain is priced it’s more likely to sell. This seems to make sense as buyers like to know what they are about to pay for domain rather than “make and enquiry”.

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mgilmour
Not a problem.....I hope I helped you out.
20 November 2017
mgilmour
XR....interesting question. The first thing to appreciate is any new gTLDs with reserved priced domains are guessing the value. Ul... Read More
22 November 2017
mgilmour
The problem that many domain investors wrestle with is end users know the price paid for the domain (ie. Reg fee) and feel anythin... Read More
22 November 2017
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Saturday Musings – We are Surrounded By Opportunities

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There is one thing that I’ve realised in my travels….there is opportunity everywhere you go. I find that too many people journey through life with their eyes closed rather than take in the wonder all around them.

Escrow.com

I’ve found the secret to opening your eyes to the opportunities all around me is to be perpetually curious. Engage others by asking questions and then listen with both ears wide open…..remember you have one mouth and two ears….use them in those proportions.

For example, I’m writing this while staying on a farm right now (it’s a stunningly beautiful place) and after talking with the owner I’ve learned a LOT about cattle. More importantly, the importance of data, GPS and managing the land to get the highest yield. It was fascinating hearing him describe some of the advances in geo-fencing that would allow him to control where his cattle roamed.

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brandstek
Michael, Have you seen JVDeals.com once developed in 2002 as a business matchmaking site I recently rekindled the site. The prem... Read More
18 November 2017
mgilmour
Completely agree with you Jeff. Many domains are in the wrong hands and branding experts need to be educated on the value of a gre... Read More
20 November 2017
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Domainers Network Groups

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It’s been great to see more and more Domain Investors and industry leaders joining the Domainer’s Network. It’s great to see Jeff Sass from .CLUB, Howard Neu from the Merge Conference and many others now onboard.

Escrow.com

I’m already finding it really useful to drop in quick thoughts about the domain industry and business into the activity stream. They aren’t fully fledged blog posts but are snapshots about something I may have read online.

For instance, I grabbed a screenshot of the number of the total number of gTLD registrations and posted a comment on it in the gTLD Group. I was also reading an article posted by Matt Barrie, CEO of Freelancer and posted this in the Entrepreneurs Group.

Groups are a core part of the Domainers Network and can be either private or public. Members can create your own groups and invite people to join them in a discussion on a particular topic or they can join other public groups. They can also post videos, share photos, polls or create discussions that are only visible to Group members.

The Group organiser can make announcements to the whole group or even automatically pull in relevant RSS feeds, so the Group members can automatically be kept informed in all the latest news. For instance, I just setup an RSS feed to be displayed in the new gTLD Group for all the latest announcements from ICANN on new gTLDs.

Don’t forget you can also invite friends to join a group. I’m a firm believer that it’s through the collective collaboration of everyone that we can become more astute domain investors. Over the years, I’ve been ever so grateful for sound advice that has helped me make prudent domain investments.

Make sure you check out the Domainer’s Network

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brandstek
Ok Michael, you've reactivated my interest on this one. Info sharing between like minded people engaged in similar interests can... Read More
17 November 2017
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The Domainers Network

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I don’t know about you, but I’ve been getting increasingly frustrated with managing all of the different social networks for all my different websites and profiles. What I really wanted was a totally separate social network just for domaining and have it related to topics that are JUST for domainers.

Escrow.com

After a bit of work, I’ve now setup the “Domainers Network” on whizzbangsblog.com. Think of it like the Facebook for the domaining community…..and ONLY for the domaining community.

You can do a lot in the domainers network, such as, being able to create and completely control your own public or private groups. I’ve already created a number of groups that you can join, they include; New gTLDs, Entrepreneurship, Selling Domains and Traffic Domains.

You can also add events to the domaining calendar (I’ve added NamesCon, WHD and the ICANN events) and with a click you can indicate you will be attending one or more of them. It just makes it so much easier to coordinate meetings if you know who is attending a conference!

Of course, you can always upload photos, videos and audio files that relate to domains. Everything is published to the “Activity Stream” so other members can see what’s happening. For example, every time I publish a new blog it appears in the activity stream.

There’s a LOT more functionality to the platform than just the above. What I’m really interested in is feedback and whether you feel it’s meeting a need in the community…..or maybe I’m the only one that’s experiencing social network entanglement :-)

Check Out The Domainer’s Community

Recent Comments
fmichlick
Kudos for all you have done and do for the community, Michael. I have always valued what you share. I don't think the solution t... Read More
13 November 2017
mgilmour
Hi Frank, Thanks for the feedback.....I think it needs a few more tweeks to get it under control. :-)
13 November 2017
mgilmour
I agree that NamePros is awesome but what I'm trying to create is something quite different.....think of it as replacing Facebook ... Read More
13 November 2017
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