Prize vs. value of premium domain

It seems an anomaly that a CH would offer a couple or few hundred for a domain name and be open to pay tens of thousands for a premium domain name.

5 Likes

You have a valid point. Our current recommendation is that you focus your premium domain submissions on the standard priced domains within the Marketplace, ~$1000 - $2000, unless a larger budget is stated in the brief.

However, as discussed in other forum posts, some CHs are tentative about offering large gaurateed prizes because they are testing the platform for the first time - but they may still have a larger domain budget.

I strongly doubt a CH who runs a contest for $ 100,- is really ready to pay $1000,- for a premium domain, leave alone $2000.- or even have a budget for it other than what they are paying on the contest. I think they tick the " open to premium domain" box for the sake of it, some without even understanding what this means.

@grant I think there ought to be a provision on the open to premium domain section for the CH to state their budget straight up on the rest of the brief, once they tick they are open to those; instead of creatives having to keep writing to the CH to inquire what the budget for the premium domain is. This will also filter those who are really serious about it and those that aren’t.

Thank you for your time

2 Likes

Thank you for your feedback. We encourage you to use your best judgement in the submission of names/domain to each contest.

I am really torn about $100 contests in the first place - especially on those who want exact .com names under 10 characters. And by that I mean names that are the equivalent of what should be 1) purchased in the marketplace or 2) be a $300 contest at least. I can see combos. But not, for example, a 5 or 6 letter keyword-type exact domain.

That is where it is beneficial if the CH is open to premiums and we can sub our names from the marketplace or our owned domains. The CH can then see what it costs for those names. However, so long as other contestants will sub the above, it’s a waste of time.

I think $100 contests should be limited in scope. Allowing premiums is fine. But now we have the marketplace contests that can cover that.

3 Likes