Buying Domain Names

Looking to Buy a Premium Shop/Store Domain

Subscribe to Elliot's BlogI am looking to buy a shop/store domain name.   For me to buy it, the domain must meet ALL requirements listed below.   If it doesn’t meet every requirement below, I won’t even consider it, so please submit names that only meet the requirements below. I plan to build a site around this name in the coming year, so while I am open to a variety of domain names, my requirements are for specific reasons:
Requirements:

  1. Must be a .com
  2. Must end in Store.com or Shop.com
  3. Must have been registered pre-2003 and show that date (no drop catches)
  4. The .net, .org, and .info for this name must be registered and owned by someone else
  5. Must make grammatical sense – ie CurtainShop.com or CameraStore.com rather than CamerasStore.com or CandiesStore.com which make no sense
  6. Must make logical sense – ie ShoeShop.com or CarpetStore.com rather than PrettyStore.com or BankStore.com which make no sense
  7. No hyphens
  8. Price must be under $25,000

Again, I have no need for lesser quality domain names for this, so please don’t submit anything that doesn’t meet ALL requirements. If your name is great and is above $25,000 – congrats on getting a great name, but it’s not for me for this project.
Thanks!
I reserve the right to post all domain names submitted and/or not post domain names I don’t wish to post.

TropicalBirds.com Development Update

Subscribe to Elliot's BlogOne of my readers asked me to provide an update on TropicalBirds.com, and I am happy to do so to encourage others who are like me (no development skills) to consider full scale development. I initially purchased TropicalBirds.com from BuyDomains back in May for several thousand dollars. I parked it for a couple of weeks and found that the traffic was very light, with only a few visitors per week. I was a bit surprised given the name, but my plan was to develop it.
I worked with LogoJeez to create the logo for around $200, and Kevin created the template in html.   I did some research and had a copywriter write about 80 articles about various types of tropical birds. I did keyword research on all of these birds to capitalize on the long tail, and I added photos from Wikipedia and some Adsense spots. As the weeks passed, I also added two sections for breeders – one listed by breed and another by state, with each page having different content.   I did the same for avian veterinarians by state.   I also embedded YouTube videos on the site.
One error I made was at the beginning when I misjudged the eventual size of the site.   By building it with html   instead of php, I need to manually update every single page whenever I make a change to the sidebar.   This is easy for a 10 or even 20 page site, but when it gets to be 200+ pages, it’s a huge challenge, and one that I haven’t been inclined to do very often.   With php, the sidebar, header and footer are listed on individual pages, and all other pages link to them, so you just need to make one universal change – MUCH easier.
The site has seen pretty remarkable growth over the last few months, which I attribute to the content that was written specifically for this website. On average right now, the site is seeing around 95 visitors per day, and that number is growing pretty rapidly (some days it is over 150). For a long time, only the home page was listed in Yahoo, but as of November, nearly all of the pages are listed in Yahoo and climbing. The site does well in Google, too, ranking well in many long and short tail keywords. Over 80% of the traffic is from search engines.
As I mentioned a while ago, when I was contacting breeders for link exchanges, I met a lady who asked to advertise. We struck a deal and she is the paying breeder sponsor for several of the breeder pages.   I haven’t spent much time seeking other advertisers or link exchanges due to higher priorities. The site generates revenue from Adsense, but it isn’t a very large number.   Because the site is written in html, I haven’t done any Adsense banner testing at all (too much trouble to make changes).   I currently have a link in the header and 2 link bars that you have to click through twice to generate revenue in the sidebar.
Needless to say, I became very frustrated with the difficulty in making changes, and I was contemplating selling the site to let someone else bring it to the next level.   However, I decided that I am going to build a php template and spend a couple days converting the site and then do a 301 redirect to the new pages.   I will test various Adsense configurations on different bird breed pages to see if that will generate more revenue. I will also look for some affiliate partners to offer bird food, cages and supplies. This site is full of good information, and it continues to grow – so there is no reason to sell it now.   I’ve found that tropical bird lovers are passionate, and they spend a lot of time on the site.
I built a bird forum on the site but have it blocked from Google bots due to worries about duplicate content. When a forum is first launched, the base pages (dozens of them) are the same as thousands of other new forums, so I didn’t want to be penalized.   I think the forum will be a big hit once I let it go and it gets indexed, attracting new members. Since there are about 40 posts, I will unblock it after the php pages get indexed. I will also be adding a news section to the new site.
The most important thing I learned is that content is king.   If you have good content on a category killer domain name, the search engines will find you and visitors will find you as well. Keep adding content and you will generate revenue and add value to your site. I am hoping traffic will continue to grow and that my testing will ultimately pay off.
I was recently asked to speak about development at DomainFest Global at the end of January, and I plan to provide another update on the growth of TropicalBirds.com as well as my other sites (if I have time). I will hopefully have some new information based on the new template and design of the site, and I am happy to share that with you. Development isn’t easy, but if you find the right partners, you can make it worthwhile. Just based on an earnings multiple alone, the site could be sold at a very strong profit right now. The long term goal is to keep it and increase the value – both to the birding community and ultimately to its economic value.

Finding Keyword Domains

Subscribe to Elliot's BlogI think the most important reason to buy keyword domain names is to get the attention of people searching for those keywords. Type in traffic is still the most targeted traffic you can find, but for the most part, domain names that get type in traffic are very expensive for most people. However, I believe there are some longer tail keywords that relevant, searched for by consumers, and in many cases, they are available to register.
Using the Google Keyword Tool, you can find searched keyword phrases in niches of interest to you along with the past month search volume and average month search volume (helpful for seasonal terms like skiing). Just type in a phrase and Google will attempt to match it with similar terms or phrases that are frequently searched.
The objective of using this tool (for me anyway) is to find key phrases that are either unregistered or undeveloped and owned by someone willing to sell it. If you are able to acquire a domain name with a phrase that is searched frequently, a developed site will theoretically be easier to rank higher in Google. A higher rank in a searched key phrase will generate more traffic and revenue (theoretically). Having a key search phrase domain name (with a developed website) can also help with your sales pitch when trying to get advertising from businesses who are buying clicks on Adwords for that phrase.
If this isn’t enough, you can also use another Google tool to estimate the cost per click that it would take to be listed on the top of the results page. This can help you determine if the payout will be worth your time and effort in developing the domain name.

ChainCatshark.com: A New Site is Born

Subscribe to Elliot's BlogSteven Kennedy’s development story motivated me to build a site on my own to show just how simple it is – even for someone without much development skill (like myself). I wanted to find an animal-related domain name that wasn’t registered, as the point of my experiment is to start from absolute scratch. I did some research focusing on sea-life and sea creatures, and I honed in on species of sharks.
After doing some research, I learned about the Chain Catshark, and I saw that Aaron Wall’s keyword tool showed 65 daily Google searches and 93 total daily searches. There were also just a few thousand sites indexed in Google that even mentioned the Chain Catshark. I saw that ChainCatshark.com was unregistered, and I went to work at around 4:30 in the afternoon.
I found a site for free web templates, and I downloaded one of the templates I thought would look nice. The only requirement they have is a link in the footer. I then found a GNU free to use image on Wikipedia, and I began to play around with the template. I wanted the template to look as customized as I could with my limited technical expertise, and it was fairly easy to do with Dreamweaver.  
After adding Adsense spots and making color and font changes, I began to do some research on the Catshark, Chain Catshark habitat, Chain Catshark food, and other Chain Catshark information. I used several reliable internet resources for my information in order to provide visitors with the content they are looking to find. I created individual pages for several topics related to Chain Catsharks and wrote small articles for each.
Overall, the entire project (research to development) took just under 4 hours of time. Hypothetically, if I paid myself $100/hour, I will need this site to make $.15/day consistently to profit on an 8 year revenue multiple – basically less than 1 click per day. If I was able to do 2 of these a day (I won’t – I would rather work on Burbank.com or Torah.com), I could probably sell these sites for a nice return down the road.
While I don’t expect to make a lot of money from the site or others like it, I do want to show that you can make money by registering new names without having to hope that someone randomly makes an offer on the name before it expires. If you have a passion for something and buy a domain name related to that interest, learn how to build a small website and spend an afternoon developing. You probably won’t get rich, but you will learn how to use html in a low risk setting. I should also add that it’s nice to be able to mess around like this – being my own boss is great. 🙂
***I am headed to another wedding in a couple of hours, so I won’t be approving comments until I return.

Trend Domaning Can Be Costly

Subscribe to Elliot's BlogI will caveat this post by saying that I do occasionally buy domain names based on emerging trends once in a while, although I never buy domains related to brands, people, or other potential trademarks. However, I generally think buying based on trends is a way to lose your investment quickly, especially when you are frequently speculating on trends and/or buying dozens of trend-related domain names.
Based on my experience, it seems that most people who buy domain names based on new trends are looking to make money quickly. You can tell this is the case by viewing lists of newly registered domain names for sale on forums and on Ebay that are related to what’s going on in the US or world (Obama domains, anyone?).   When you do a Whois search for various terms related to trends, many have for sale notices or show that the DNS is set to Sedo or other domain sales venue. Most people who buy based on trends do it to make money fast.
While buying a domain name to sell quickly isn’t a bad thing, it’s very hit or miss. There literally could be hundreds of variations of domain names (not even including the various extensions) based on certain trends, and maybe a few of them will have value. While buying 5-10 domain names isn’t a big deal, I know quite a few people who buy dozens or hundreds of related domain names so they don’t miss out on the big one, and that can be expensive – especially if this is done for a few trends.
I think this is a very flawed strategy. If you buy one or two domain names based on every trend of interest (with the sole intent being to sell it), chances are good you won’t get the domain name that has considerable value. If you buy dozens or more, you are better served doing keyword research and spending $300 – $2,000 on a single good domain name. Shoot – NNNN.com names seem to be selling for anywhere from $250 – mid $xx,xxx, so why not try to buy a couple of these (I do not currently own a single numeric domain name).
I’ve had many people email me lists of names – literally hundreds of hand registered names – asking me what I think they are worth.   I hate to say it, but most aren’t worth anything short term unless someone in the business wants it – or unless they are receiving traffic and good conversions.   It really bothers me when I see someone who is new to the industry investing $5,000 on domain names hoping to get rich quickly, when a smarter investment would have been to buy 1 or 2 strong domain names in the aftermarket to sell or build.
Just like I wouldn’t go out and spend $2,000 on lottery tickets (although I would spend that in a blackjack session), I wouldn’t go out and try to catch a trend by registering dozens of trend domain names. If you do that a few times, you will probably lose your shirt and be out of the domain industry quickly.

Jump on the Bandwagon!!

Subscribe to Elliot's BlogI’ve been criticized a few times about my coverage of various cctld – and/or lack of coverage. Simply put, I don’t think most are good long term investments when they are released. There are too many people trying to grab these new domain names at the bottom to sell them to the next round of fools who want to sell them to the next round of fools who want to… well, you get the picture.
Sure, quite a bit of money can be made on quickly reselling newly released domain names, but how will you know ahead of time if you get stuck “holding the bag?” I really can’t think of one cctld introduced in the last 5 years where a majority of the domains purchased in the aftermarket have held their value.
I am not averse to risk taking at all. In fact, I’ve been day trading GS ($86.60), LVS ($8.25) and MNTG ($2.69) for the last three days – sold the first two for a nice profit. At least with stock investments, there is a priced market where I can sell these stocks for a set price if the value goes down. I can generally put a stop loss and limit my losses in most cases. If you buy a domain name only because you think the price will increase due to the newest domain “trend,” you are really gambling.
Like I’ve said before, if an extension is accepted and widely used by the public five years after its release, and the values are increasing due to that, then I may buy to develop and hold as an investment. If you are buying just to get on the next bandwagon before it leaves the station, chances are good that you’ve already missed the boat and will get wet.

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