you 100% right…
I thought SH is unique. But I see this kind of step done by ** and yet followed by SH? This $1 fee is favorable to SH but not for new sellers like us. SH complains about spending thousands of dollars for creating logos and advertising but what about the sellers which register and submit hundreds of domains worth thousands of dollars of investment too but only 8 to 10% are accepted.
For a new seller, he/she needs to spend about $1000 to register around 100 brandable domains, pay another $100 for the submission fees in order to have a portfolio of around 8 to 10 names at SH. We have to spend roughly $1100 to come up with 8 to 10 names hoping to be able to sell them. And what’s the percentage of selling 8 to 10 names at SH? Guaranteed to sell within a year? Of course, there’s no guarantee. It’s still best that SH gets their fees or commissions after the sale is made and not before the sale.
Well, with 8 to 10 domains listed, you might very well even not sell anything for years, tbh(or sell them all in one year, who knows?). Domaining is a long-term business that requires plenty of money (some unfortunately rely on selling domains for the renewal costs which is definitely not recommended) and patience. Of course, it’s a business that stood the test of time, but the world is evolving and you can never know what the future holds. Value of .com’s rely on the idea that any company prefers a .com domain for it’s website and it’s willing to pay big money for that. This hasn’t change for so many years, but new ideas, technologies and big companies with a different financial interest can always move things around. On-topic: awesome from SH to take into account users opinions (yet again). I guess that one way sellers would not be annoyed of the 1 $ review tax would be if you would introduce an option that includes seller registering the domain after acceptance to the marketplace(exactly what your competitor does). That option would of course have a different commission plan(higher commission than SH registered domains, lower than registered before review domains).
This option is available now. “Submit an unregistered name” and click the option “I prefer to register it myself”
The problem: Excessive submission volume and marketplace growth
Sub-problem: Massive delistings of premium names after initial investment in logo and advertising fees by SH.
I believe the first criterion to have both options enabled is unfair to sellers with small portfolios. As long as you have a good record with SH, you should have both options enabled for you. I have a portfolio of 7 premium names and the last (and only) time I submitted names to SH was in February. So why am I being penalized for a problem I did not cause or contribute to?
If anything, it is sellers who do mass submissions (and in turn have bigger portfolios) that should be made to pay a listing fee.
How about updating the first criterion to:
You have a minimum of 25 names published in the premium domain marketplace/You have a X% 6 or 12 months sell-through rate. or any other ‘good record’ criteria you can come up with that has nothing to do with portfolio size.
The reason why I chose sell-through rates is because selling on SH evidences two things which shows good record:
a) You pick good names (or you are lucky :-))
b) You have kept your names long enough on SH for them to sell.
Some of us prioritise having good names (and sales) over a large portfolio and we should not be penalized for not doing mass submissions (afterall, it’s free), which is the problem SH is trying to solve in the first place.
Oh, last time I saw this discussed on forum, the option was not actually working(or at least that’s what I’ve understood). Would have loved to knew this earlier, but I’ll definitely try this for further submissions. Thank you so much for pointing this out!
No worries, it’s been working fine for me so if you have any issues, hit the Blue Button. Good luck!
Why can’t you guys allow users to convert their points into coins? Also, your new “basic plus searchable” section offers little value without logos. The worst part is that you guys don’t allow users to submit their own logos even if they are willing to have you approve them. This goes for any section. What is the reasoning behind limiting logo submissions from users? In the worst case, make users agree to submit logos that they themselves own.
We have continued to receive overwhelming feedback from the sellers about the recent changes announced related to Marketplace.
It is clear that a large number of sellers do not wish to pay the upfront $1 fee in lieu of reduced commissions. At SH, our goal has never been to use these fees to generate additional revenue. Our primary goal is to continue to offer the best sell through rates in the industry, while offering the shortest approval times as well as best in class customer support and platform features for our sellers.
As a result of this feedback, we have eliminated the requirement to use Squadhelp coins for ALL SELLERS.
You still have the option to use Squadhelp Coins in lieu of reduced commissions, however if you prefer to stay with the original commission rates, you can simply adjust your preferences in Marketplace Seller Preferences page.
If you are not using SH coins, your account may be limited to how many domains you can submit at a time, and your review and approval times may be a bit longer than usual. In addition, we may decide to remove the free submission option from those seller accounts which are not in good standing, have too many irrelevant submissions or have requested an excessive number of domains to be delisted from their account.
Note: If you are submitting unregistered domains, you will still be required to use Squadhelp coins if you choose to register the domains yourself. This requirement is necessary to manage the overwhelming amount of unregistered domains that are submitted every day for review.
If you have already purchased Squadhelp coins and do not wish to use them for your future submissions, simply contact our support team and we will be happy to give you a refund. Note: In the near future, you will also be able to use Squadhelp coins for other aspects (such as Logo redesigns, Lifestyle images and few other benefits)
At Squadhelp, our mission is to continue to improve our platform every day. While we may not get all the changes right the first time, we are committed to making swift adjustments based upon the feedback from our user community.
Looks like it’s good that you guys hit the brakes considering the backlash. As I already wrote in the past a few times- if you guys would run things by creatives first before making major changes, you’ll be able to better assess these decisions beforehand instead of making them and then having to cancel or adjust, which happens quite a lot.
It’s not really surprising that people don’t want to pay the $1. That’s the main financial differentiator you guys have from other brandable marketplaces and people, and domainers especially, aren’t fans of things that increase their costs (the reduced commission wasn’t really much of a selling point since it would have still just brought the commission down to the same level of other marketplaces or above it in some cases). I’ve seen this sort of insanity breaking loose when other marketplaces made unpopular decisions. It’s commendable that you guys are much more attentive and ready to recalibrate when needed.
Anyway… very good improvements overall, IMO. They were kinda lost in the mix with all the focus being on the SH coin. Now that the mandatory fee is gone, things can continue to move forward.
Quote: “If you are submitting unregistered domains, you will still be required to use Squadhelp coins if you choose to register the domains yourself.”
Again, why do you differentiate the cost of the submission for unregistered domains based on who registers the domain? So it’s free to submit an unregistered domain if we nominate SH to register the domain and it costs $1 to submit the same unregistered domain if we want to register it ourselves.
You mention that “This requirement is necessary to manage the overwhelming amount of unregistered domains that are submitted every day for review.”
Can you please clarify how managing the review of 1,000 submissions of unregistered domains which the sellers wants to register is different than managing the review of 1,000 submissions of unregistered domains which SH is nominated to register in case of approval? Different to such extent that it costs $1,000 extra if we want to register them…
Again, it’s clear that in the case of unregistered domains, you prefer to register the domains yourself rather than the sellers to register them. Why is that? Shouldn’t we be the ones to decide?
There are two key reasons:
In case of SH registered domains, the seller typically receives 25% of selling price. We do not believe that it makes sense to ask sellers to pay an additional submission fee in this situation, since their expected earnings from a sale are significantly lower to begin with.
Compared to the SH registered domains, we receive a disproportionately higher number of “creative owned” unregistered requests - and while we are happy to review every one of them, it takes up significant amount of resources which could be otherwise utilized to review domain submissions that are actually owned by sellers.
If you feel strongly about a domain, and do not wish to pay the $1 submission fee, we recommend you register them first and then submit them as a registered domain.
@Grant : As I see, all these changes are intended to maintain best sell through numbers in the industry. But, I can see both 6 months and 12 months dropping one or two decimal points daily. Is this rate of decrease gonna be uniform? Do you have selective preference for marketing domains for a seller who has sold 0 out of 100 as compared to one who has sold 20 out of 200?
Thanks in advance for answering