NameSilo

A namepros members brandable marketplace

Labeled as discuss in Brandable Domain Discussion started by boker, Oct 8, 2019.

Replies:
26
Views:
1,241

  1. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    I have an idea and I want to see what others are thinking.
    I'm dealing with a lot of brandables(and most of the times with brandable marketplaces, BB, SH, BP) and as for most of us, there are a lot of things that don't work for me, from commission %, to acceptance, to logos, to bad names acceptance, to unfair competition and a few others. One option will be my own marketplace(efty) or something similar, but if you have only 500, 1000, 2000 domains, it's hard to compete with the main players, because you can't afford to use payed advertisements to bring more leads to your domains, because it's not worth the fees payed, only if you have thousands-tens of thousands of domains, to divide the cost. So, I was thinking, why we( namepros members) can't unite to form some kind of union, to use the same marketplace (ours) so that we don't need to pay 30-35% commissions to others. We can use the help of some, like dan.com @Reza @LaszloSchenk or epik @Rob Monster, or even both, to help us with fast escrow and the basic infrastructure , so that what will be payed will be only the escrow/infrastructure commission, 9%( 5% sounds even better)and the rest to use them for adwords or facebook ads, so that the total will not go over 10%. Of course, there are a lot of smaller things to sort out, but I think it can be done. What do you think guys?
     
    Last edited: Oct 8, 2019
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. topdom

    topdom Established Member

    Posts:
    588
    Likes Received:
    378
    We don't want endusers to visit Namepros, because then they would think domains can't be sold even for $1.
     
  3. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    Not, I'm not talking about this. I'm not saying to build a new section of namepros marketplace, I am saying to build a new decentralized BB-SH style marketplace, to compete with them. It should be made based on our(domainers)domains, 200,700, 2000( depending how many we have each of us) hopefulLy 20-30k together, forward it to the same marketplace. So, it will be a new BB, owned by us, compiled by our domains put together to have the strength to compete with the big guys and be able to pay for google and facebook ads, made based on our rules, with low commission (just the escrow) so that we have somebody sort out payments fast, safe and smooth(epik, dan). So, if we have together 20k-30k domains, forwarded to the same marketplace, we should be able to compete with BB. After each sale, you will pay 10% not 35%, out of which half will be for the guys dealing with the payments and half for google ads.
     
  4. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

    Posts:
    4,818
    Likes Received:
    11,526
    Would it not be easier for DAN or Epik to build a brandable segregated section of their marketplace, perhaps with some sort of NamePros brandable experts doing the approval for inclusion. Their rent and lease options already work well and DAN support logos.
    Bob
     
  5. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    This will work as well, but in the same time, that means that they will need to handle the acceptance, logos and all the other stuff...and the most important, they will make the rules. I was thinking to have a system where nobody is making the rules by himself, where to change a rule, you need the vote of majority of the members and the acceptance thing is made, let's say, by the top ten sellers(and to be accepted, you need at least half of them to accept your domain. So that nobody is taking by himself the big decisions and that anybody can be changed often, based on how his own performance is changing. From my perspective, we should follow three main direction: to lower the commission as much possible; to not have only one(or a group)to decide what's good for the marketplace and have a better STR(as a marketplace) than the competition(BB, SH, BP). Because we will bring our own leads, through the marketplace, we should get that 5% which dan is offering right now and the other 5% should be used for payed ads. This way we will pay only 10% commission and have a say regarding the rules and how the money are spent.
     
  6. andom

    andom Established Member ★★★★★★★★★★

    Posts:
    372
    Likes Received:
    164
    Would it be a new company? How will ownership be distributed among members?
     
  7. brandpainvestment

    brandpainvestment Established Member

    Posts:
    251
    Likes Received:
    106
    First of all this is a great idea to cut cost. But I think,

    1. The cost will be more than income.

    2. You have to do a lot of jobs like submission, selection, description, logo, marketing, negotiation, payment, etc.

    3. What will be the owners shares and profit or looses.

    4. If it does not produce good number of sales, how you can get fund for marketing.

    5. It can only sustain if you get good team members and high sales.

    Thanks again for this thread.

    Like, comments are always welcome.
     
  8. Zilla

    Zilla SOLD VIP ★★★★★★★★★★

    Posts:
    1,362
    Likes Received:
    951
    let's think about a name for this new marketplace, it is what I like to do as a domainer.

    for the other stuff like establish a company, talking share, conduct logo, selection, buiid payment process...etc, ok, I am tired...I think some big guy can do that....I just want play names.....I am fine to give them commission.if they can help me sell name, .I value their expertise and efforts...
     
  9. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    But the ownership it's not important, because it will be a non profit company. Each member will profit just from his own sales and pay 10% for escrow and ads and the company behind the system/software will profit from escrow fees.
     
  10. brandpainvestment

    brandpainvestment Established Member

    Posts:
    251
    Likes Received:
    106
    If you unable to make sells, will this business sustain ?
     
  11. andom

    andom Established Member ★★★★★★★★★★

    Posts:
    372
    Likes Received:
    164
    I am not sure about that. Even if you choose the non profit model, in my opinion you will have a business and a brand with a value that will grow with its number of members and customer base.
     
  12. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    These are all good points, but most of them should be easy fix:

    1. The cost will be more than the income based on each domainers domains, each of us will invest in his own domains, retain ownership and retain sales profit. What will be shared will be the same marketplace and 5% of the revenue for ads.

    2.For this, I was thinking that the company who's behind the escrow, can do an automatic software which can sort how every day who are are most performant sellers and will redirect the submission to them to accept or deny, if more than half will accept your domain it's accepted. Something like SH it's using, if more than half of them will vote for acceptance, instantly you will be able to fill out the tags and descriptions and you have something like 24-48 hours to come up with a logo. Each of us will sort out his own logos and negotiation, the marketing will be done through google and facebook ads, we set up some limits and every 5% of the sales will be used automatically for payed ads with our preset settings. Escrow will be done automatically through epik/dan, so we will not have to think about this.

    3.As I was saying, we profit or loose based on our own domains, exactly as in with SH, BB and others. The difference should be that we have a saying regarding the rules , we lower the commissions and can benefit more from the ads....it's will be the same as you will unite multiple efty personal marketplaces to benefit from the power of the crowd and can share the cost of ads, because now it;s worthless to pay google ads for a marketplace with 500 domains, because you will loose money.

    4. I have a few hundred domains, others have a 100-200 others have 1000-2000 or more, so it's impossible that nobody will have any sales. We should have around 20k-30k domains, and if we manage to have a 4-5% STR, at an average of 2k per sale, we should have around 150 k per year for ads and the escrow company will should have around 150k in escrow fees.

    5. As I was saying, everybody will be responsable for his own sales.
     
  13. brandpainvestment

    brandpainvestment Established Member

    Posts:
    251
    Likes Received:
    106
    Thank you for your reply first.

    Honestly I don't know how will it look like in reality.

    What are your visions ?

    Feel free to comment and like.
     
  14. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    If it's successful, for sure the brand will be valuable, but being something decentralized, it cannot be sold, so it will be valuable just for you are a member and using the marketplace.
     
  15. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    I have just the rough idea, I'm not a software specialist so probably there we should use the expertise of epik/dan teams. But the idea of a marketplace owned by his members and not having to use coins, credits and not having somebody controlling the search criteria and others should be the ideal marketplace.
     
  16. brandpainvestment

    brandpainvestment Established Member

    Posts:
    251
    Likes Received:
    106
    Ok.

    Ask Dan, epik about costs.

    Ask experts for revenue related queries.

    We can share all informations here.
     
  17. brandpainvestment

    brandpainvestment Established Member

    Posts:
    251
    Likes Received:
    106
    Nice vision.
     
  18. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

    Posts:
    4,818
    Likes Received:
    11,526
    I actually like the idea of a cooperative. In essence it covers costs and then shares revenue among members. I think it could work, but we should not under estimate the work and issues.

    You mention, correctly, that the reason your own Efty based brandable store does not work is because of scale and lack of advertising. That might suggest another alternative of a domain investor network somewhat structured on the real estate model. When sales happen part of funds go to who sell it and part to owner. Everyone has access to all members inventory. Some small fraction of revenue goes into group advertising. There are set ethical standards and procedures for all.

    Just an idea.

    Bob
     
  19. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    This will be the fun part. I don't have an issue with commissions, but they have to decent and they need to reflect in the members profit, more than just the revenue of the owner of the marketplace. Like, BB and SH, they are ok, but because there are just a few marketplaces and lot's of domainers, they impose rules and commissions that are not in any benefit of the members.
     
  20. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    The cooperative idea is great, but the issue here will be that somehow each member will need to have an equal number of domains and roughly the same quality and sales. It will be hard to ask to one guy with 2000 domains and 50 sales to share 20-30-50% of his own revenue with a guy with 100 domains and one sale. If everybody will benefit just from his own sales, than it will push everybody to have more sales. What everybody will benefit it will be from the 5% funds for ads and the 20-30k forwards that should bring a good number of leads....like this everybody will benefit more or less, based on his own performance.
     
    Last edited: Oct 9, 2019
  21. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

    Posts:
    4,818
    Likes Received:
    11,526
    I was unclear perhaps because it is middle of night. :xf.sick:
    I did not mean equally irrespective of sales numbers. I meant something like this.

    A domain name owned be Y is sold by X through the association for $5000.
    X gets $2000 for selling it.
    Y gets $2500 as owner.
    The association gets $500 for general costs, advertising, etc.
    If someone sells their own domain they get $4500
     
    Last edited: Oct 9, 2019
  22. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    Using the same marketplace and benefiting from the same ads and leads from forwarders, it will be hard for a member to bring a new lead from outside, only if he is a broker and than, the association can be done on a 'one by one' basis, with mutual agreement between the owner and the broker, the same as in any other brokered deal.
     
    Last edited: Oct 9, 2019
  23. DN_Hunter

    DN_Hunter Top Member VIP ★★★★★★★★★★

    Posts:
    1,136
    Likes Received:
    637
    Overall, I like the idea of joining forces.

    I think this is what some of the services like Efty and Toughdomains try to do. They have their own "Marketplace" basically made up from the inventory of names from all of their users (as long as their users agree to have their names listed in their marketplace). I'm just not sure if they actually pay for advertising to promote the combined marketplace???
     
  24. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    It's something related, but I don't think that if a lead click's on one domain, from an efty marketplace, he can see all the domains from all efty marketplaces. Like this , if I go to an efty domain, lets say RedTiger( not real efty domain), if I'm not happy with the price or not really convinced that this is the 'one', I will not be able to search through all efty marketplaces for keywords like 'red', 'tiger', 'animal', 'color' and so on, so I will look somewhere else and the lead is lost. What I'm thinking is like 100-1000 efty marketplaces put together, forwarded to the same place and retain as much leads as we can. Also, for efty it's no point to pay ads to promote efty, because the leads will go to efty software and not to a marketplace.
     
  25. boker

    boker Top Member VIP

    Posts:
    10,295
    Likes Received:
    1,498
    That why I've tagged them, to see if it can be done.
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...