August Might Be Bad, But It Could Be Worse

Elliot Silver
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7

August has been a fairly bad month in terms of domain sales for me, as I mentioned before. Thankfully the rest of the year has been (somewhat surprisingly) very good. Maybe it’s the summer doldrums, the economic slowdown, or perhaps I am investing more cautiously, which generally yields lower results.

I really shouldn’t be complaining though. I read that a whopping 309 people recently applied for a Library Assistant position in Tacoma, Washington, an hourly job that pays a wage of between $15.81 to $19.23. This one position had over 300 applicants, and the post had to be taken down a week or two earlier than normal.

Each time I’ve thought about this month’s sales figures, I’ve seen articles like the one I mentioned where people are desperate for work. Domain investing may not be easy any more, it has significant risks, and it’s not always exciting. However, investing in domain names can provide a very good steady income and opens the door to other opportunities.

If it wasn’t for these economic conditions, I probably wouldn’t have built many of my website, which are poised to become independently operated businesses and revenue streams.

This month might be a bad one in terms of domain investments and sales for me, but it certainly could be much worse.   Last year over 1,600 people applied for one meter reading job in Tacoma.

Example of Smart Usage of a Generic Brand and Domain Name

Elliot Silver
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Walking through a farmers’ market a couple of days ago, I saw a shop with BBQ sauces, spices, supplies, and seasonings. One unique product I saw was seasoned skewers, which are grilling skewers that contain seasonings on the outside, allowing your chicken or beef to be seasoned from the inside while being grilled. Seems like an interesting concept.

I think the company did a great job choosing a name for its product. Had the company been called XYZ seasoned skewers or something brandable like Taste Skewers, I probably would have forgotten what they are called. Smartly, the company owns and brands its product as “SeasonedSkewers.com”

I think it’s smart because it’s branded as its product description. The company could have chosen a cutesy brand, but people probably would have referred to the product as seasoned skewers. Additionally, if they hadn’t called themselves the product name, it would have given a competitor an opportunity to enter the space, since the product is unique but not one of a kind.

If your company develops a new product, sometimes the smartest thing to call it is exactly what it should be called.

Reach Out Over the Phone

Elliot Silver
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1

The domain investment industry can be isolating, and although there are domain forums to discuss business, there isn’t always the same level of camaraderie found in a traditional workplace. Attending a domain conference is a very good way to meet other domain investors, but for some people, the travel and/or expense isn’t feasible.

I recommend reaching out via phone to people who you would consider colleagues to have a conversation. I don’t necessarily recommend calling someone specifically to pick their brain or ask a bunch of questions (which can be annoying), but if it’s a peer you’ve interacted with before, a phone conversation can be helpful in starting friendships and establishing business relationships.

Just like calling a domain owner to inquire about a domain name can yield more positive results than emails can, a phone conversation can do the same thing. Chances are good that the person you call will be interested in speaking as well, and you might learn a thing or two in the process.

Photo: Flickr.com

Summer Doldrums

Elliot Silver
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3

Lately, domain sellers always seem to be asking each other if others are experiencing a slow down. I haven’t had a bad year, especially considering last year was my worst year by far, but this summer has been pretty slow in terms of domain sale.

From my perspective, it seems that many domain investors aren’t investing as much as they have previously invested in the aftermarket. A number of my clients are in more of a hold mode right now, presumably waiting out this economic storm. This has caused a slow down in my business, and as a result, I am buying less after market domain names. It’s a trickle down effect.

End user companies are still buying domain names as their needs necessitate. Because these needs are demand-based, it is more difficult to close domain sales. It also seems that deals that do close are taking much more time to complete, likely a result of tighter spending.

Because many companies need to spend their entire marketing budget before year-end in order to justify the same (or an increased budget) for the following year, we may see an increase in activity in a month or two. That may be wishful thinking 🙂

In the meantime, I am continuing to build out the websites that I have and continue to market those sites that are operational. Bahamas.co is nearly ready to launch, and I am excited about these prospects.

What have you been seeing in the domain sales market lately?

.CO Domains Subject to UDRP

Elliot Silver
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28

I read an “Open Letter to .CO Registrants” posted on the .CO Registry website by Eduardo Santoyo, Vice President & ccTLD Manager for the Registry. I think any domain owner who bought .CO domain names should have a look at the letter to know where the Registry stands when it comes to trademark infringement.

Some of the key points discussed in this letter include:

  • .CO domain names are subject to UDRP
  • When you buy a .CO domain name, you must represent and warrant that you aren’t doing so to infringe on the rights of another company (whether you are bidding on a domain name or hand registering it)
  • .CO Registry will not give any refunds if a name is taken via UDRP or other legal action
  • Domain owners are responsible for doing their own due diligence

Most domain investors know the ramifications pertaining to registering trademark infringing domain names, but some people don’t. I received an email last week from someone who told me she registered several .CO domain names of Fortune 500 companies that didn’t think to register them on their own. She asked how she could sell them. I told her I had no idea but referred her to my Domain Lawyer article for references.

It’s good to see the Registry post an article like this, and it will certainly be interesting to see how many UDRP cases are filed and how soon until that begins. My bet is that there will be quite a lot, especially when a strong aftermarket develops.

Spread Your News to the Domain Industry via Press Release

Elliot Silver
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2

Although I don’t consider myself a journalist by any stretch, I do like to write articles about news and industry updates that pertain to domain investors. The impetus for some of my articles are press releases that contain valuable insight directly from companies in the industry.

I get a lot of press releases, but I hardly post any of them or any articles about them. Most of the press releases I receive are either over-hyped, poorly written, or don’t really give enough value to a broad audience.   I like posting articles about news, but it really should be news rather than hype.

If your company operates in the domain space and has news that will impact domain investors – or you feel that an upcoming event would be of interest to domain investors, please add me to your press release distribution. I can’t guarantee that your news will be posted, but it doesn’t hurt to add me.

Here are a few tips to getting your Press Release published:

  • Include the payoff/benefit in the opening paragraph or title – and in the email in which the press release is attached
  • Make sure it reads well and isn’t filled with grammar or spelling errors
  • Do not over hype what you are offering (there shouldn’t be exclamation points)
  • Send your press release to me before it hits the wires
  • Include your contact information for follow-up questions
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