Saturday Musings - New Market Vertical

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Last year, some of you may remember that I set myself the challenge of launching a new business. Although it was a significant challenge I managed to attract enough customers to make it worthwhile and it’s continued to expand with a whole flock of repeat clients.

Escrow.com

For the past week or so I’ve been working diligently on opening a new market vertical. Attracting new clients from a different market vertical is taking a much bigger investment than I thought but I’m determined to reach them.

If you remember from previous blog articles, the first incarnation of the business involved positioning a bird bath in the garden outside my study window. It took quite some doing but after moving it around and laying out some bread crumbs I’ve managed to attract a number of bird families as my first clientele.

The photos below can testify to the success of my existing venture….but I wanted the business of me enjoying watching the birds from my study window to expand.

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Recent Comments
vanclute
FYI, Parrots (and most tropical birds) tend to love fruit. You might have much better success laying some fruit slices out in a d... Read More
07 January 2018
Rawgi
After all you have drilled about doing research to make attracting new clients easier and more cost effective, I would be surpris... Read More
09 January 2018
1332 Hits
4 Comments

The Big Issues in the Domain Industry - Part 1

20170204_innovate

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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Recent Comments
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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6 Comments