A question for those Creatives who have sold multiple marketplace names: Do you adjust your prices in the marketplace, or do you leave it entirely up the Squadhelp? I generally leave mine alone, but I wonder if lowering the price of my older domains would generate any interest.
@ALDaisy1, I have made several adjustments to mine depending on age and number of shortlists/activity. However, that has not led to sales. SH does quite a bit of this. I watch very closely. Sometimes “sales” and lower prices don’t generate more interest but I did find lowering my prices on old ones did. (Which tells me something… ) But I would recommend that you do change your prices and watch to see how it goes.
I’ve pushed most of my prices up, some I’ve left as is. I haven’t dropped the prices on any.
A couple of things I’ve learned as a domainer:
The tipping point in pricing seems to be around $2,500 for an individual/small company. By tipping point, I mean the point at which they ‘can’t afford’ the domain. The majority of my sales are in the $1,999-$2,500 bracket.
If someone absolutely loves the name, and it is perfect for them, they will pay for it. I’ve sold names that I considered to be worth $XX for $2,XXX because I knew they loved the name and I just waited it out.
Dropping the price on a domain really has very little effect in my experience, unless it’s a liquid domain (a domain that everyone would buy, like HighStreet.com). It’s all down to someone loving the name.
Patience really does pay. I’ve held names for 10+ years and never head a sniff of interest then bam someone has hit that $2,XXX buy now button. At $8 reg fee, $8 renewal for 10 years, I’ve spent less than $100 on that domain for a fantastic profit.
I’ve met some really fantastic would be domainers over the years, many of them expect to hand reg a domain today and sell it in a few months for 4 figures. It honestly doesn’t work like that. It’s an expensive game to get into. Think about the domains you are buying today, names like that really won’t be around in 5-10 years. With 130 million .com domains being snapped up each quarter, the domains you buy today can only appreciate in value over time.
If you can spend a couple of years building a nice little portfolio, you’ll be a great domainer. Don’t think about making a profit for the first 5 years. If you sell a domain, buy more and build yourself a nest egg. That’s how to make money in this game.
Thanks Able, that is interesting and makes sense.
Thank you @Commulinks @AbleBrands, I see both your points. So far, I have only increased the prices on mine to keep the amount I would receive above a certain point. For some reason, it’s the newer names that seem to go on sale most often, and the return on them is really a slim margin of profit. But I also want the older names to move, before renewals become a factor. I know we have the option to take a lower commission or let the names drop, but honestly, it would be foolish to give up a great commission percentage over $10, and from what I’ve observed, once a name is registered, if you ever let it drop it will be snapped up immediately by a third party. I guess I need to develop my patience.
Is it OK to share view/shortlist percentage? Hope it is. Since I haven’t sold any domains, and I have a few in the marketplace, that seems to be the only measure of quality I can think of. I am around 10% with most, one is around 20% and one fresh domain is at 40%. And i have no idea if that is good or bad I actually did a test, dropped all prices to minimum for 2 weeks to see if views or shortlists increase on any of the names. No noticable change. SH discounts on the other hand boost views and shortlists, but don’t change views/shortlists ratio. But that’s just me, and it is done on very small sample so it might be wrong Impression.
@AvramChe Probably the reason you see more of an effect with SH discounts is because in the marketplace, you can filter by discounted and those names come up, but names discounted from our end aren’t included because technically, we have just altered the base price. I personally haven’t seen a connection between shortlists, views, and sales; I have one on 61 shortlists that hasn’t sold (despite dropping the price and going on sale repeatedly) but I had another that sold after only 18 views.
I’m an experienced domainer with plenty of sales on my own as well as 3 here on SquadHelp. I would echo what others have said, that lowering or raising prices 10-20% does not effect sales. No one will buy a domain just because it’s cheap. Likewise they will go a bit beyond their budget if they feel a name is the right fit.
The above is less true when crossing pain points at $500, $1,000, $1500, $2000 etc. If a domain is priced at $995 and you push it to $1395 you may lose potential buyers looking for a domain under $1,000.
One nice thing about SH is that you can see you traffic and how many are putting it on their shortlist. On average my listings get shortlisted about 10% of the time. For those names that have been shortlisted less than 10% of the times they’ve been viewed. I’ve lowered the price a bit in some cases. For those at 10% I’ve held the price. For those notably above 10% I’ve raised the price a bit.
But I only do this once. A higher price will not be well received by someone who shortlisted your name and then comes back to purchase, only to find a higher price.
As Able has said. Patience is key in domain sales.
Thank you GibbonTake. I am basically doing the same as you. 10% shortlists seems to be the baseline and those under that I’ve lowered in some cases. I do think it is important, though, on some names to consider what they are. If it is a name that has a niche market then they need a little special consideration. I lowered some of my older names but I know that we didn’t have shortlisting at the beginning of the marketplace. I have raised a few. And the marketplace is getting lots of attention now. I see a lot of movement in my names on a daily basis. You and @AbleBrands are so right about patience and I, too, really appreciate your perspectives. One advantage to the SH marketplace is being able to enter them in contests as well.
I am, however, becoming very discouraged at the number of names I have to sub to get even one into the marketplace now and I’m discouraged about commissions, too. I’ve spent so much time choosing them and not much comes of it in terms of results. If I were to add up my time spent in an hourly rate, I am losing money. I stopped for a little while because I was so discouraged and tried again… and now it’s even more discouraging. I really want my names to be working for me when I am not able to work on contests. I sub names that truly appear to be similar to those that have sold, have broad appeal OR are names for niches that SH seems to have some “room” for… it’s not going well. I’d much rather have my names on SH than other platforms because I can use them in contests.
I really feel like it is time for SH to provide more direction for marketplace submissions. We haven’t had a marketplace contest in a while and names are being rejected in large quantities. It’s not enough to know that this is a curated marketplace now. We need much more. I suggest the SH say things like “we need names in the engineering category” or “we need more finance related names”… I REALLY appreciate the marketplace, but I am extremely discouraged and need more encouragement and I know I am not alone. @Grant, kindly provide us with info so we know what we need to submit.
Along this line, the public forum has been an issue for a long time. If SH is not comfortable with revealing things in the public forum, then why not have a private forum?
I do not mean to be SO critical. We ALL want to succeed. We really do. And we need a private place for that and more information so we can help SH to be the most successful platform out there.
Thank you for this request.
First, focus on key naming principles:
- Easy to Say
- Easy to Spell
- Easy to Remember
There are two ways that a name can be “meaningful”:
- The overall brand feel (e.g. classic, fun, pragmatic, powerful, modern, etc.)
- The key ideas that the name implies (e.g. trust, joy, successes, etc.)
Names that create a clear brand feel and express a strong key idea are very powerful. Great brand names often capture strong ideas and help to tell a story, in this way, most great brand names transcend a specific industry.
Here is our core article on Brand naming advice for Creatives.
Probably, the best way to understand the kinds of names that are likely to be accepted into the Marketplace is to study those names that are being purchased. These trends typically guide us with our decision making process - and you can see these names in your marketplace dashboard.
Tips for analyzing these name:
- Do not submit names that are very similar to recent winners.
- Instead, start by understanding the types of brand names that are winning
- Take note of the style of brand names that are winning
- Understand the big ideas behind the brand names that are winning
When submitting a name you should be able to say:
This is a Classic Name [brand feel] that implies Trust [big ideas]. Yes, it is very easy to say and spell.
If you’ve gone through the steps of (1) understanding the deeper trends within Marketplace names that sell and (2) develop names that hit the key naming guidelines - you are definitely on the right track to getting your submissions accepted.
However, at the end of the day, there are no hard-and-fast rules. Our internal team has to believe that a name can become a strong brand, and our commission rules are based upon our understanding of market demand.
Thank you for this, @Grant… I thought I was doing all of those things already, actually. Are there any industries in particular that you need?
Wow, is it just me or the team is browsing through our submissions and picking names? I just got 3 domains pre-approved without submitting them.
Edit: Make that 4
yes they are…
So glad for those who are benefiting!!!
Hey, I got one! yay! thank you SH!
[quote=“Commulinks, post:16, topic:2862”]
Hey, I got one! yay! Thank you SH![/quote]
Do those seem to be random or from SH comanaged contests?
@wordLabyrinth Hi , the one name that SH emailed me about was random - not a co-managed SH contest.
Same here the names that I have rejected in droves I feel are almost all easy to say and spell and usable in multiple markets, several have been listed on contests with positive ratings. I pay attention to what sells and I don’t see an actual “trend” to what is selling or accepted so if someone else sees something that I don’t would love to be enlightened (serious statement I know I could easily be missing something) . There is a large array of blends, compounds, made up, 2 words proper spelling, creative spellings etc.
I guess just keep trying lol !