Marketplace Domain Renewals


#1

We are pleased to announce an additional option for Marketplace Domain renewals based upon feedback from our creative community.

As a background, in case of SH registered domains, creatives have the option to pay $10 before the expiration of the domain name in order to renew their listing on SH for an additional 1 year. That rule has not changed.

However for a large majority of your names, you will now also receive an additional option where SH will waive the $10 renewal fee and pay for domain renewal. If creatives choose this option, they will receive a reduced commission when their name sells. Before agreeing to this option, you will be able to see your exact commission rules, so you can decide whether or not it makes sense to stay with the original commission rules, or switch to this option. Please note that these commission rules can be different for different domains (based upon several factors) and you will be able to see the exact rule before deciding on a renewal option.

Over the next few weeks, you will start seeing specific offers in your marketplace dashboard next to each of your domain name. You will be able to make a choice whether to 1) stay with the original terms [pay $10 for renewal], 2) accept the new offer [where SH pays for your renewal] or 3) do not renew the listing.


#2

Thank you for your continued efforts to make things better, but I have a few questions. Why is there no option to simply transfer the domain to us (if we so choose) and then we renew ourselves and SH decides if they still want it in the marketplace or not?

Also, I’m curious why our commission is reduced if SH renews for us, but SHs commission isn’t reduced if we renew ourselves. Shouldn’t it go both ways? I understand SH is spending money on marketing and logos but that’s not just for the creatives benefit. SH will make the majority of the profit regardless, so continued advertising is just as much a benefit to SH as it is to the creative.

This isn’t meant to imply SH is trying to rip us off, I know you’ve got your reasons, just trying to understand why some of these options aren’t feasible to SH.

Thank you :slightly_smiling_face:


#3

It is not feasible for us to transfer the domains back to creatives because we are not equipped to handle thousands of individual domain transfers. This was asked and addressed previously in the Forum.

Please note that none of the original terms have changed with this announcement. This additional option was introduced as a result of feedback from some creatives who are looking to avoid making any investment in renewal of their domains. You are under no obligation to accept this option and can continue to stay with the original terms.

Unfortunately we can not get into the overall pricing strategy in an open forum, but please note that we make our pricing decisions based upon the overall investment we are making in the marketplace - which not only includes the Logo design costs, Domain Registration costs, but also significant investment into Marketing, Audience testing, Trademark Attorney review, Technology development etc. Changing our commission structure would require us to scale down our overall marketing investment as well as some of the other services (such as Audience Testing) which is not something we are prepared to do at this point.

We do not plan to revisit the original Terms or commission structure of the marketplace at this point, however we will continue to look for more ways to offer additional options that benefit our creatives


#4

@grant or any creative who may know, what is the time frame on when Marketplace Domain Renewals come into effect? A few months, 6 months, 1 year after it was accepted into the Marketplace? As you mentioned above, we will start seeing these renewal options soon. This may have been answered in a previous forum, so my apologies if it has. Thanks!


#5

@CRen I believe it’s 1 year


#6

yeah, that’s what I thought too :slight_smile: thank you - gosh, has it been almost a year since the Marketplace opened?? Time sure does fly!


#7

Thank you for explaining.

On the “renewals, renewals, renewals” thread @Edukar had asked about pre-approval before purchasing domains ourselves and submitting to the marketplace. I didn’t see a reply from you so I wanted to inquire about the possibility of that.

Offering pre-approval before we register a domain ourselves could solve a lot of the issues come renewal time for those who aren’t domainers and are strictly loyal to SH, such as myself. In other words, I personally have no intentions of buying a domain and listing it anywhere other than SH, no matter how good I think the domain is. Therefore if you don’t accept I would have no interest in buying it, no matter how good it is.

In this scenario SH could then choose to remove the domain from their marketplace and therefore stop exhausting resources on it after a year without the creative losing their IP (not being able to enter it in SH contests anymore) or see their profits dwindle.

Is this something SH would consider?


#8

Excellent! Thank you @Grant and @Darpan!!! VERY much appreciated!!!


#9

Noted and thanks for the improvements.


#10

Hello. I was wondering if SH would consider the use of our points to renew our Marketplace Domain names? I know this might not be feasible but just a thought. Thanks.


#11

@grant: Very much appreciate the 10% renewal format. I am worried about most of the names submitted for domain market place are getting rejected. Can they be listed for 6 months to test whether buyers are liking them or not. If the entry gets more than 10 shortlist, probably then it can continue in the listing for another 6 months. At least for the single word, short names. And secondly, is there any provision to edit the description part of our listed names. As sometimes after submission we feel this is not the right description and so it is not getting the right attention.


#12

Thanks for your continued open door policy and for providing this new option! Seems like a fair solution since SH will be carrying the entire cost of these domains. When that’s the case, it seems logical that SH deserves a bigger cut after the first year. Works for me. :slight_smile:


#13

The point has become useless this days, most especially to the "tier a creative ".


#14

Thank your for your views on this @Brandshai, especially on the part regarding the excessive amount of rejects on new submissions. @grant and team need to look for a way to relist especially the single word names that have been rejected and those that some of us feel were unfairly so rejected; and on top of that; how else we can utilize the mounting number of points. This overall would also act as a huge motivator to creatives. Thank you!


#15

Thanks for the follow up; I believe this was answered in another thread -
at this time, we do not plan on developing a Pre-Approval process that would allow a Creative to submit a domain for Marketplace consideration and only register it after receiving approval.


#16

@ChristyMay - Yes. We will likely include points into the renewal process when a Creative chooses the option where Squadhelp renews the Marketplace domain after the initial year and a reduced commission is applied. However, there will likely not be an option where points can be used in place of the $10 renewal paid by the Creative to maintain their year-one commission rate.


#17

@Brandshai,

We continue to approve many domains into the Marketplace as it grows. However, one of the unique aspects of Squadhelp’s Marketplace is it’s highly curated nature; therefore, we will also continue to reject names based on our criteria and the market demand.

You should be able to edit your description at any time in your My Entries Page by clicking Edit Classification. If you are not able to make updates, please report the specific issue using the Blue Button.


#18

I just tried to enter a name from the marketplace into a contest and now it says that I can submit it all full price. We used to be able to sub them for the price of the contest. This is new… I didn’t expect that to change.


#19

I’ve seen this before, it’s been around a little while.

There is a new section in the brief “Open to Premium Domains”.

If they answer yes, and you submit a domain from the marketplace, it values it at full price.

If they answer no, and you submit a domain from the marketplace, you have to give that domain in exchange for the prize (not for the amount it’s listed at in the marketplace)

There are more and more saying yes now :slight_smile:. It’s up to you but I’m only submitting names from the marketplace to those open to premium domains.

Hope that helps.


#20

Thanks Able! I hadn’t run into this before.