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Trend Spotting & Domain Names

Elliot Silver
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2

One of the smartest things a domain investor can do is read the newspaper, watch the news, follow popular culture blogs (like TMZ.com), and even observe kids at the mall in order to spot trends and capitalize.

There was a television commercial for Ameritrade a few months ago showing a father responding to his daughter’s request for money to buy jeans, and his reaction was to buy stock in the company that produces the jeans. Domain investors should do the exact same thing, but instead of buying stock, we should buy relevant domain names. For the domain investor with a good amount of cash, he should have been looking to acquire a name like Jeans.com or Denim.com, and for people without that type of income, names like JeansShop.com or JeansOutlet.com could have been good buys.

One of the keys to buying valuable domain names is to acquire names that are meaningful and would be desired by others. Owning a name that is either the generic category killer for a popular trend or a name that represents part of that category is usually a good buy. Stick to generic names, and you should come out on top.

Buying stock in a growing company is fun, but you really have no control over the performance of the stock. Owning a domain name in a growing industry is much more fun, and you completely control how you develop, monetize, or sell the name.

“Brandable” vs. Generic Domain Names

Elliot Silver
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5

I frequently see people trying to sell “brandable” domain names. To most experienced domain investors, brandable suggests that you need to explain what the name means and why you think it is valuable, which usually means a difficult time selling it. In most cases, brandable names aren’t good buys, especially as a short term investment.

By nature, copywriters, art directors and others involved in the creative process are very attached to their ideas. Deep down, almost every creative person wants to win a Cannes Lion, Clio or an Echo, and they want to win because of their idea. They want to be inspired from deep within themselves rather than developing someone else’s idea. I don’t think it makes sense that some domain investors think that a cool/hip sounding domain name will help inspire a marketing campaign or product name, which would seem to be the reason to register it.

On the other side, some people register these names hoping that a company will use that particular term or phrase in a new product and then seek them out to buy it. While I know of a couple people who did have success with this, there are many more brandable domain names registered than companies willing to buy them. It’s like buying a lottery ticket. Sure, once in a while it may be a good idea or even pay off, but more often than not, you will end up wasting your money.

In my opinion, if you can’t afford to buy a high value keyword name and choose to register new names instead, I recommend sticking with generic keyword phrases. Put two or three related keywords together to try and create strong sounding names. Use “quoted Google searches” to see how many references that term has in Google. Generally, the more references, the more interest in that particular topic. State specific keywords can be good, too.

Registering new names can be a thrill. Knowing what to register is what can save you hundreds of dollars.

‘Tis The Season – For Online Spending?

Elliot Silver
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0

rick-schwartz.jpgEach year before the holidays, domain investors wonder whether the coming season will mark a breakthrough for interactive marketing campaigns. As online media continues to grow and thrive, we continue to wonder why companies still devote so much advertising spend on traditional media (print/tv) when statistics seem to indicate that people are spending more time online than reading the newspaper.

Will this be the year companies devote the appropriate advertising spend for online activities? Rick wonders aloud whether companies will finally “get it” and convert some of their traditional print and television advertising dollars into online spends. My gut says this won’t be the year, but I think things are beginning to change. Interactive marketing is fun, less inhibited, and better able to engage the viewer… I digress, but more on that in a future post!

From Rick’s Blog:

“So will THIS be the online Christmas many have always expected? Will the same sorry folks be marched out to tell you not to spend online? How dangerous it is? Marched out like a political attack machine because they know their days are numbered? These people who are funded by those with most to lose. Is this the year they get it? Can they figure out that Google is approaching $800/share for a reason? That they are the fastest growing, most valuable company in the world for a reason? Can they figure out that the newspapers are not only going down in circulation but in readerehip as well?? Same with other mediums. And talk about “Stickyness”…….Imagine how many MINUTES someone used to read a newspaper or magazine and how many minutes they read now?”

Read the rest of this post here.

Search Bar – “What Can I Serve You?”

Elliot Silver
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2

There have been plenty of times where I walked into a bar and asked for a beer that the bar doesn’t stock.    Of course, I ordered a different beer, but for the sake of this post, let’s say that I really wanted a particular kind of beer, and when the bartender informed me that he doesn’t have it, I walked out and went to the bar down the street.

If this scenario happens just once or twice, the lost business probably won’t cost the bar much money.    However, if this is a recurring situation, it would be in the bar’s best interest to begin carrying the requested beers to satisfy the needs of its customers and not miss out on a revenue generating idea.

Likewise on a website, the owner should do his best to provide content that is of interest to his visitors.    Oftentimes if a visitor doesn’t find what he needs, he will use the search bar to locate it.    A savvy website/domain owner will use the search log information to see what his visitors are looking for but can’t seem to find.    He will then make adjustments to his product/content selection to ensure the needs of his visitors are met.    

The lost revenue from one or two visitors may be small, but if you can learn about what your customers want and offer it to them, you are sure to satiate your visitors’ thirst for information.

(Special thanks to Jonathan for reminding me about how important the search bar can be to a domain owner!)

Two Certainties in Life: Domains and Taxes

Elliot Silver
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1

I know its a bit early to begin talking about taxes, but its much better to think about them now than in April! Although I haven’t ordered this ebook yet, I’ve heard some great things about The Domain Tax Guide, written by Sandy Brooks, CPA. I plan to order it soon to give to my accountant. The price tag is a bit hefty for an ebook, but I think its well worth the investment.

If my friend Steve Maroulis thinks this is a must read, then I certainly need to buy it:

“A real eye opener!!! Must read book for anyone involved in buying and selling domains”
-Steven Maroulis, DNElite.com“

Suggestions for a Successful Domain Auction

Elliot Silver
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1

The success of domain auctions has spawned the introduction of new domain auctions across the industry, causing some confusion. These new auctions leave me with a bunch of questions:

– Who is having an auction?
– When is the auction?
– Is the auction live or silent?
– How do  I sign up to bid?
– How do  I submit names?
– How do  I bid?
– ….etc

I am downright confused! Clearly domain auctions are an exciting way to sell domain names. Since I am not in a position to build, operate and execute a successful domain auction, I would like to share a few suggestions for the companies who are running these domain auctions:

– Live, real-time auctions are better than “silent” daily/weekly auctions. They are more exciting, and people know what they win instantly so they can budget accordingly.
– An easy to understand and operate online interface is essential to give bidders at home an opportunity to bid.
– Provide as much infomation as possible about each name. Traffic stats, revenue stats, rankings…etc all help in a domain evaluation.
– Create niche auctions in certain industries. Publicize the auction to domain investors, people in that industry, AND also to the advertising agencies that represent some of these companies.
– Million dollar names aren’t essential for a domain auction, although they will bring publicity. Remember that most people are looking to buy .com names.
– Keep the auction short and sweet. Anything over 50 domain names can cause fatigue for bidders. A company wouldn’t have to auction 300+ names if they hold a monthly auction.
– Make it easy for people to sign up and bid – similar to Ebay’s system.
– Make the submission process quick and simple. Cap each person’s submissions to 10 names. If a domain investor can’t pick the 10 best names they want auctioned, you shouldn’t have to dedicate the man hours to do it for them.
– Transparency is essential. People need to know they are bidding against a “real person.”
– Phone bidding availability is important for people who don’t have access to the Internet at the time.
– Don’t try to lock domain owners into long exclusive agreements. I think 30 days is more than enough time for everything.
– Don’t pressure people to lower their reserve price. If the price isn’t low enough, don’t put it in your auction as it will irritate the owner should it sell for the reserve.

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