Have you ever won a contest by submitting a premium name?

Have you ever won a contest by submitting a premium name? Or is it waste of time?
I feel that contest holders never pick premium names even if they like because premium names are pricy.

In the past I didnt care too much about submitting premium names to contests but after the new “AI Recommendation” I get a lot of notifications about recommended names for contests, so I started submitting these names, but they always get rejected. Only once I got “love it” rating for a premium name followed by “heads up contest holder visited you name” but then the rating was changed to “no thanks” lol… it seems contest holder didn’t like the price :joy:

2 Likes

I have, at least four times that I remember. They were all my own listings, and in each case the CH purchased the domain. It doesn’t happen very often, though, and it would be much better if CHs were asked to provide a specific name budget, so we don’t offer names that are too expensive.

7 Likes

That being said I think it is worth considering deducting the contest prize from the final premium domain price if it was selected… this will at least encourage contest holders to pick these names to some degree.

Someone might be willing to pay $1700 for a domain but if $300 contest prize was added then the final amount will be $2000 which psychologically is way higher than 1700 (it is like the difference between $99 and $100)

2 Likes

I have once but the CH did not purchase my domain.

1 Like

They already do this if you win with your own listing, not sure when another Creative wins with a name belonging to someone else.

It should be done regardless of who owns the domain. It is not fair for contest holder if the prize amount is only deducted if you own the domain.

1 Like

Yes, and they bought the domain. I was very pleased. I think you may as well enter them, you never know and it may well be just what they wanted but didn’t know it till then! Good luck!

1 Like

The contest award is already deducted from the domain price when the contest winner & the creative are the same person.
Who loses the $300 in contest were the domain Owner & the creative are not the same person…
Domain Owner ?
Or SH?
Maybe if you own your domains outright, it might work. However, domains that SH has registered for a creative probably wouldn’t like it. Sometimes the winning amount would take all or most if the profit.

1 Like

This is confusing to be honest, we are not sure what happens when the owner and creative are different. aren’t there any clear description how this work in SH help section?

1 Like

Yes, twice.

I like that there are premium submissions into contests. It helps give the CH a reality check what they can expect to get for their contest budget and the parameters they set, and once in a while they may discover a premium name they love and be willing to pay more for it.

2 Likes

"How Do Payments Work?

If your name is selected as the winner, the creative who submitted the domain will receive the full contest award.

If the customer purchases the domain, you will receive your full payout based upon the selling price and commission rules for that domain.

Note: If you submit the name yourself, we typically offer a discount to the customer equal to the contest award. In other words, that discount is funded by Squadhelp even though you, as the seller, receive the proceeds as per the original selling price of the contest. However, if another creative submits the domain on your behalf, the customer will not automatically receive the discount for their domain purchase (since the contest award will be paid out to the creative). https://helpdesk.squadhelp.com/en/articles/3250755-allow-other-creatives-to-pitch-your-marketplace-domains-to-contests

1 Like

I had a situation where CH first bought the domain (without discount) so I got percentage from the sale, then he awarded the contest, so I got $300. Wow, was I happy! Until I was told I have to return the award money :smiley: You get larger of two sums (award/percentage) even if CH did not get the discount.

was I happy! Until I was told I have to return the award money :smiley: You get larger of two sums (award/percentage) even if CH did not get the discount

fair enough :grin:

1 Like

I have won 3 contests on premium/basicPlus names. 2 didn’t get sold and one got sold.

My understanding is that the buyer gets the award amount as a discount on their purchase and then that award amount gets added to your earnings on the sale. For example a basic plus domain sells for $1500 and the contest award was $300. They get to buy the domain for $1200 ($400 minimum commission to SH) so your earning is $800 payout + $300 contest award.

The ones that didn’t get sold I got the contest award amounts. Maybe they will come back and purchase the names later? No one knows :smiley:

2 Likes

I haven’t as of yet won a contest by submitting a premium. But I think I sold one because I entered it. Once entered, it was soon short listed. It didn’t win but was purchased around the same time that the contest ended.

4 Likes