Alter.com Marketplace

[Deven Patel]

Hi all,

I wanted to introduce a new premium domain marketplace we just launched called Alter. I would love to hear your thoughts! As the world’s largest community of domainers, your feedback would be invaluable.

Let me introduce myself. Although I’m new to NamePros, I’ve been around the block. I’ve been buying and selling domains for my own startup ideas for over 20 years. As a serial entrepreneur, I founded a number of startups across various industries like marketing, web hosting, social networking, blogging, and SaaS. This experience has helped me understand how indispensable a brand name is to a business.

Most new entrepreneurs don’t think twice about their company name. Our goal is to change that! A brand name literally has the power to make or break their business. This is more true today than ever before now that there are countless alternatives to every product or service imaginable. Sure, every business may have their own world-changing differentiator but from the outside they all look the same at which point the main differentiator ends up becoming their brand name. In a world full of distractions, we no longer have the attention span to thoroughly research what we buy so we rely on our emotions. This is why large businesses like Apple and Amazon spend billions on their “brand” alone because they understand that customer perception is everything.

Anyway, I noticed that most marketplaces that exist today are focused more on the seller rather than the buyer. Our goal is to reverse the equation and prioritize buyers because I think they are the key to success in any industry. The domain industry is no exception. Without buyers, there’s no money. This is why we’ve made it our mission to help entrepreneurs succeed!

And what’s with the 30-35% commission rate most of these marketplaces are charging? Unless they’re doing more work than a human broker, I don’t think anything over the industry average of 15-20% is warranted. We’re changing that. Alter has one of the lowest rates in the industry, an all-inclusive 10% commission fee when a name sells. There are no other fees or restrictions.

What do you think? Are we on the right track or barking up the wrong tree?

Deven

This was a promoted post.​

 

[Future Sensors]

Hi @Deven Patel

Thank you, that's a nice addition.

I've tested this with 2 of my premium (accepted) domains, and replaced the Alter Professional Logo with an Alter Basic Logo. This works fine, however after saving this, the "Sort: alphabetical" view within my custom portfolio does not appear to be correct. All of my 50 domains (all premium) appear alphabetically, except for the just changed domains, which now appear at the end (Z, then B, F).

 

[Samxui]

Additionally, domains using either a professional or uploaded logo will appear higher in search results right next to premium listings. It's a fantastic way to highlight quality names!

You mean henceforth, non premium domains using Alter's basic logo would be condemned to the very bottom of the search results irrespective of their relevance to the Keyword being searched?

 

[Future Sensors]

You mean henceforth, non premium domains using Alter's basic logo would be condemned to the very bottom of the search results irrespective of their relevance to the Keyword being searched?

Even Premium (accepted) names that change their logo from Professional to Basic, seem to appear in a less favorable position, after the change of logo.

 

[xeroox]

You mean henceforth, non premium domains using Alter's basic logo would be condemned to the very bottom of the search results irrespective of their relevance to the Keyword being searched?

Even Premium (accepted) names that change their logo from Professional to Basic, seem to appear in a less favorable position, after the change of logo.

That's sound really unfair? so if you pay you will get listed higher?

 

[Future Sensors]

That's sound really unfair? so if you pay you will get listed higher?

I think the Basic logo looks better than the Professional one, for these specific domains. I wasn't happy with a few of the Professional logos for these domains, so I changed it to Basic. Indeed, it's unfair to list those premium domains at the end, while they are still premium and look great with the Basic logo.

(that's also a compliment, the Basic logos look great, and have lots of different color and font options)

 

[Deven Patel]

I see that you will review the user-submitted logos. Please don't allow crap logos, only allow logos which are at least as good as the existing logos. One strength of Alter is the great-looking logos, I hope you won't allow worse logos than the current ones.

That's the plan.

Adding account funds: what if I need a proper tax receipt? Would be good if I could enter my company name, address and tax/VAT number, and then you would automatically send me the proper tax invoice, issued by your company, including my full billing details.

We'll work on that. In the meantime, just treat the transaction as any other with a company from a non-VAT based country.

I've tested this with 2 of my premium (accepted) domains, and replaced the Alter Professional Logo with an Alter Basic Logo. This works fine, however after saving this, the "Sort: alphabetical" view within my custom portfolio does not appear to be correct. All of my 50 domains (all premium) appear alphabetically, except for the just changed domains, which now appear at the end (Z, then B, F).

Looks like a bug, thanks for bringing it to our attention. We'll get on it.

You mean henceforth, non premium domains using Alter's basic logo would be condemned to the very bottom of the search results irrespective of their relevance to the Keyword being searched?

That's sound really unfair? so if you pay you will get listed higher?

No, it just means that if 2 names match the same search criteria, the logo quality of both will be considered. It's just another factor our algorithm will use to determine quality just like how we use the name's popularity, extension, length, etc.

It also gives sellers who think they own quality names a chance to improve their ranking if their names aren't premium eligible.

Take a look at the search results for a keyword like "tech" for example: https://alter.com/names?q=tech

Note how standard listings appear in the second row (ones with both professional and basic logos).

If you don't think that makes sense and have a better idea, we're happy to listen.

I think the Basic logo looks better than the Professional one, for these specific domains. I wasn't happy with a few of the Professional logos for these domains, so I changed it to Basic. Indeed, it's unfair to list those premium domains at the end, while they are still premium and look great with the Basic logo.

(that's also a compliment, the Basic logos look great, and have lots of different color and font options)

As I mentioned above, this looks like a bug so relax my friend.

 

[Future Sensors]

Looks like a bug, thanks for bringing it to our attention. We'll get on it.

Thanks

 

[Charybdis]

I see one issue with this new feature, it takes about 2-7 days until you review a new domain name, and a new domain name may become a premium name, which comes with a free logo.

What if a seller submits a new domain name, and then that seller immediately uploads a custom logo or orders a premium logo? If that new domain name became a premium name, then it would be pointless to upload a custom logo or order a premium logo.

So maybe only allow the logo upload or the order of a premium logo once you have reviewed the name. You could display that a domain name is still under review, so the logo upload or the order of a premium logo is not allowed while you are reviewing the name.

 

[tomcarl]

Perhaps more sorting options:
Search by Keyword (1 word, 2 word, 3 word)
Search All Listings option without premium domain sorting
And new algorithm displaying same ratio keyword names vs invented since invented brands are more debatable in quality)
Also, on sales pages, let other related domains from same seller / same categories display on their own domains lander as priority (top couple rows)

 

[BrandableDomain]

I see one issue with this new feature, it takes about 2-7 days until you review a new domain name, and a new domain name may become a premium name, which comes with a free logo.

What if a seller submits a new domain name, and then that seller immediately uploads a custom logo or orders a premium logo? If that new domain name became a premium name, then it would be pointless to upload a custom logo or order a premium logo.

So maybe only allow the logo upload or the order of a premium logo once you have reviewed the name. You could display that a domain name is still under review, so the logo upload or the order of a premium logo is not allowed while you are reviewing the name.

Sellers should be able to upload their own logos immediately if they so choose - then the domain and the logo can be evaluated at the same time. After all, they are intertwined.

You are perfectly free to wait for seven days, if that is what you prefer.

 

[BrandableDomain]

Perhaps more sorting options:
Search by Keyword (1 word, 2 word, 3 word)
Search by Invented (4L, 5L, 6L, For names liked the ones mentioned above)
Search All Lisings. And new algorithm displaying same ratio keyword names vs invented since invented brands are more debatable in quality)
Also, on sales pages, let other related domains from same seller display on their own domains lander as priority (top couple rows), following by others, bottom row.

That's a great idea to be able to search for "invented".

Also the option to search for "5L" or "6L" or "short domains" would be good, if they aren't there already.

Good point you make that "invented brands are more debatable in quality".

 

[Future Sensors]

Looks like a bug, thanks for bringing it to our attention. We'll get on it.

It now sorts correctly, thanks for fixing.

 

[tomcarl]

That's a great idea to be able to search for "invented".

Also the option to search for "5L" or "6L" or "short domains" would be good, if they aren't there already.

Good point you make that "invented brands are more debatable in quality".

Yeah, scratch the 5L/6L, the length option sorts that.

I also thing scaling all the logos down a little bit and adding more domains per page might look good.

PS - Thanks to Deven for the new logo options in a reasonable amount of time and consistent attention / updates to feedback. I'm sure things will continue to be improved moving forward.

 

[Charybdis]

Sellers should be able to upload their own logos immediately if they so choose - then the domain and the logo can be evaluated at the same time. After all, they are intertwined.

You are perfectly free to wait for seven days, if that is what you prefer.

But if the domain became premium, then it would be a wasted effort. Because premium domains come with free logos.

 

[Future Sensors]

One of the most popular requests we've received from sellers was the ability to add better logos to their domain listings.

Will such an option also be available to buyers, after domain purchase?

I can imagine that buyers will also appreciate such flexibility. With the option to select the provided Professional logo, or create a new Basic logo with this engine. Or, order another professional logo based on characteristics of the company of the buyer.

 

[Future Sensors]

I've uploaded some more domains at Alter, and played a bit with the new logo editor.

I'm impressed by the results.

 

[Liberty Wolf]

On the first page there are names like wolf/ora, ka/aft, app/rila, zur/ova, v/esert, furn/ixo, salary/leap, gil/ur, joi/ti, gift/glad, oro/min, flavor/spin etc. that are at best hand-reg quality.

Six of my names on the first page, that's impressive.

I mean, come on! Fro/ban and Joi/ti and Just/rix next to Pan?

Justrix has the most likes of all my names, maybe all the likes pushes it up higher on the list?

I see looplix and I wonder if they know what loo means in the UK

Looplix, another one of my names, maybe if it was loopics you would have a point.

Big thanks to Deven for creating a killer marketplace and the 3 guys above for posting some of my names

 

[Deven Patel]

I see one issue with this new feature, it takes about 2-7 days until you review a new domain name, and a new domain name may become a premium name, which comes with a free logo.

What if a seller submits a new domain name, and then that seller immediately uploads a custom logo or orders a premium logo? If that new domain name became a premium name, then it would be pointless to upload a custom logo or order a premium logo.

So maybe only allow the logo upload or the order of a premium logo once you have reviewed the name. You could display that a domain name is still under review, so the logo upload or the order of a premium logo is not allowed while you are reviewing the name.

That's a good idea but premium eligibility is an ongoing process. We first review your names when you add them and then continue to re-review them every few months based on future trends.

If you're looking to order a professional logo and aren't sure whether your name will be eligible for premium then I think the best way to approach it is to simply wait about a week before placing the order. By then your domains should have also accumulated some traffic data which will give you an idea of whether the domain deserves a logo (i.e. more traffic = more interest = probably worth the investment to make it look better).

Also, note that uploading a logo doesn't disqualify you from getting a professional one.

Search All Listings option without premium domain sorting
And new algorithm displaying same ratio keyword names vs invented since invented brands are more debatable in quality)
Also, on sales pages, let other related domains from same seller / same categories display on their own domains lander as priority (top couple rows)

Thanks for these suggestions! A lot of this is already on our roadmap. Just waiting on more quality names to be listed before adding more search options. Also, we're trying to make searching as intuitive as possible so buyers don't have to use filters too much (filters = friction).

Right now when a buyer performs a search, they'll see a mix of all types of listings right on the first page (i.e. premium, standard, keyword, invented, etc). For example, do a quick search for "tech" to see what I mean. First row shows all premium names that contain the keyword, followed by quality standard listings that contain the keyword, followed by invented premiums, followed by invented standard, etc, etc.

Ultimately, the goal is to give buyers what they want as fast as possible. And of course we'll continue to improve the results over time as we get more feedback and increase our inventory.

I also thing scaling all the logos down a little bit and adding more domains per page might look good.

Not sure if you noticed but the search result boxes are responsive so visitors with see anywhere between 1-5 boxes per row based on their screen resolution. Any more than 5 boxes makes it harder to display long names properly.

Will such an option also be available to buyers, after domain purchase?

I can imagine that buyers will also appreciate such flexibility. With the option to select the provided Professional logo, or create a new Basic logo with this engine. Or, order another professional logo based on characteristics of the company of the buyer.

Most buyers don't seem to care for the logo beyond capturing their attention on the landing page. But yes, if they ask for it then we definitely offer them the ability to customize the logo. Buyer satisfaction is our top priority.

 

[ExDom]

Dear Deven,

I just checked and there are zero premium domains in .io and .co currently on Alter. Does this mean you do not consider these extensions for premium domains?

 

[Charybdis]

Dear Deven,

I just checked and there are zero premium domains in .io and .co currently on Alter. Does this mean you do not consider these extensions for premium domains?

The last time I checked, only .com domains were eligible for premium status, I don't know whether this has changed or not.