Andrew Allemann shared some great intel about how GoDaddy boosted aftermarket sales revenue. Whether or not you list your domain names for sale via GoDaddy / Afternic, I think the article is worth your time.
I visited GoDaddy to see the customer sales flow using one of my domain names as an example. I wanted to see for myself how GoDaddy was presenting the opportunity to buy one of my domain names listed for sale on Afternic. One thing that caught my eye was a link that said “What are premium domains?” Clicking the link brought up a video created by GoDaddy, and I think it is also worth a watch.
Because of GoDaddy’s reach, I think the explanatory video would be trusted more by customers and prospective customers. This trust is what gives me concerns about the GoDaddy’s free appraisal tool. That aside, I think it is important for domain investors to see what GoDaddy considers to be premium domain names when dealing with its clients. I don’t think the company’s position will come as a surprise, but it is good to note.
Here’s the video:
Pretty sure this video was already posted in the blogs before.
A few thoughts:
1. Some of the earliest words in the video are the familiar phrase “short, memorable.”
Normally you would think the typical mindless nonsense domainers (who are not the market) preach about that is to come next, but it doesn’t, starting with a two word “cool” example that is long by domainer standards.
2. The most focused upon example of a premium domain is the three word “SeattlePetShop.com.”
Ergo, in this video a top quality three word .com both can be and is “premium” and “short and memorable.”
3. I can still point out a nice “long” three word .com that is easily and realistically worth 9 figures based on an honest and sensible understanding of the value of top domain names (but for business and competitive reasons we all understand I still won’t call attention to it).
(And don’t forget my super long four word .com a London Stock Exchange listed company tried to buy when I was only using it as an end user. That too was “short and memorable” with respect to its intrinsic quality and subject matter.)
I own getmoreforless.com. 4 worder and long by domainer standards but one of my favorites as it’s pretty much the holy grail of what we all want to do with our money.
Ah, it’s you, the telephones dot com guy and domain investor dentist extraordinaire. You actually had at least one of my domains I let go in the past in fact. I don’t know if you still have it, and I can’t say more in order to avoid outing myself. 🙂
Thanks for sharing that remarkable example. That is most certainly a remarkable and truly extraordinary example of a great four word .com that is definitely worth a fortune. One may negotiate exactly how big a fortune if the time comes, but no matter how you slice it it is definitely a “fortune.”
Now there are some or many “domainers” who still have their head so far up their ass about such things (yes, there is a time to use such language) that they might babble on and say something like, “oh no, that one is worthless, and only ‘moreforless.com’ has any value.” And they would be stupid, and mistaken, even though clearly the shorter example is also a great domain also worth a fortune.
We all have our “secret sauce” when it comes to biz. Even for those who would agree that this domain is obviously a great domain, I doubt they would see just how good it really is because they probably missed what I’ve been able to see about it. There may be some, but I doubt it.
GetMoreForLess.com – very nice.
…and by “very nice” I most certainly in this case mean, “spectacular.”
John, I had asked you to expand on your past with bitcoin on a thread here but that thread was locked to new comments so I wasn’t able to thank you for sharing. Appreciate the story, man.
My pleasure, Tony.
i make my living from a geo +keyword domain in the construction industry
That’s something you probably shouldn’t share unless you own every possible variation.
I understood his comment to mean that he runs a business on a geo+keyword domain i.e. plumberchicago, electricianboston, rooferdallas, etc.
Sorry, someone please put me to sleep. Meant to say chicagoplumber, bostonelectrician, dallasrooofer, etc.
Would you prefer to be put to sleep with a dose of morphine or sodium thiopental? You only get to choose once.
Domains, like real estate are an asset whose value is dependent on location/other ‘uniqueness’ attributes.
AI Algo driven semantic analytics often dont often adequately id such attributes in my portfolio’s experience. Thus otherwise more valuable domains are not most favorably represented to a prospective buyer.
GoDaddy could enhance its success selling more domains at higher prices if it provided the ability for owners to include select language labeled: ‘owners comment’ – below GD’s algo derived description – like what leading domain brokers newsletters have in their ‘details column’ next to name+asking price
That way the domain’s unique selling proposition, which may not be apparent to either AI or afternic brokers when contacted by cooperating registrars for requesting a price, could help facilitate more sales, and be more seller friendly too 😉
GoDaddy, please stop calling them Premium Domain Names! Call them Valuable Domain Names.
Average person buying a premium domain name: “So, I have to pay a premium for this domain name? No thanks!”
Average person buying a valuable domain name: “So i am going to receive a valuable domain name? Perfect!”
You have to think like a person who is not in the domain Industry bubble!
Interesting idea… thanks for sharing.
No problem. I’ve been saying this about premium domains for awhile now, but no one is listening.
I changed my wording from premium domains to valuable domains awhile ago.
A simple tweak like this by GoDaddy could be huge! For GoDaddy and domainers.
Hopefully they will listen.
That’s a great idea Mark, and your last sentence is exactly my point all along about domainers understanding and acknowledging what constitutes valuable premium domain names:
“You have to think like a person who is not in the domain Industry bubble!”
Thanks. Unfortunately not enough people think outside of the domain Industry bubble. Businesses just keep promoting the same thing over and over.
Yeah I agree!
Premium = expensive (but why?)
Valuable = Investment (make money)