Drop-catching: Your way

[S-B]

Hello everyone,

I am working with a partner to develop a new drop-catcher. I am interested in discussing the project and listening to your suggestions.

1. How much should a backorder cost?
2. How long should an auction run (3, 5 or 7-days)?
3. What is your preferred payment method (Paypal or...)?
4. What are the most important features you need?

I will also need some beta testers in he coming month.

If you're interested in the service and would like to be part of the development process, please answer the question above and let me know that you're interested.

Please keep all comments, suggestions and beta requests in thread.

Thanks,
Shane

 

[S-B]

Will chat shortly

I will keep my eyes open!

 

[vivaldi]

What do you think the deposit should be? $100?

Thanks for your input!

Yeah why not good for starters, could go higher if there is a proven track record. But in the beginning I would keep it free by invitation only until the results are popping up. Been assuming your targets ain't the worst domains only, if it is my opinion ain't valid.

 

[S-B]

Yeah why not good for starters, could go higher if there is a proven track record. But in the beginning I would keep it free by invitation only until the results are popping up. Been assuming your targets ain't the worst domains only, if it is my opinion ain't valid.

That's a good point. I rather deposit $100 than fax in all my personal details like NameJet requires. Maybe most people feel the same way?

 

[towhidzaman]

I've always felt that a backorder should initially be free. A way to offset this with multiple backorders could be to charge a backorder fee once the domain is caught. This way, you could get $x minimum in the bank account, once caught. If you are to catch multiple domains a day, you would have $x charges that stack up for those who place the backorder. This money could then sit in the bank until the backorder goes on either public or private auction, of course applied to it, and thus allowing you to earn interest on it. Once the auction is over and the money is then paid, you refund the "losers". This method would only work if it went to private auction, as nobody would place a backorder for a domain when they know it will go to public auction (e.g. DropCatch).

A deleting domain should be picked up within 72 hours for anyone to reap the benefits of it having multiple backlinks.

Preferred payment can be any electronic payment, if it's below a certain threshold. I would prefer to pay via PayPal, but if it's in excess of $5000, I would feel more comfortable with a credit card payment or audited escrow service.

The most important service of a drop catch is the ability to catch the name.

Agreed with David but I do think the backorder fee is not a right way from user point of view. What you can do is doing good background check before the buyer can bid higher. For me I do not go back to a company who can't be reach socially or the response time is high. This is a service that needs instant support or someone might get the domain I have.



Count me in too. As a SaaS guy, I would love give my feedback. FYI, If you need help with building a support team, give me a knock. Good luck Shane.

 

[muttus]

Personally I find registration fee bit exclusive, but maybe it is not bad idea to keep this smaller at least at the beginning. The fee would do for sure rule out some problematic domainers but it is not automatic tool. Regarding the premium account I would rather see a reward to buyers with stellar record (not by amount of money spent but by number of transactions without problems) in terms of slight discount (10-15%) or higher number of possible back-ordered domains. BTW did you consider putting limit on number of the domains each member can backorder?

 

[S-B]

Agreed with David but I do think the backorder fee is not a right way from user point of view. What you can do is doing good background check before the buyer can bid higher. For me I do not go back to a company who can't be reach socially or the response time is high. This is a service that needs instant support or someone might get the domain I have.



Count me in too. As a SaaS guy, I would love give my feedback. FYI, If you need help with building a support team, give me a knock. Good luck Shane.

The only issue is I'd have to hire staff to do a "background check" and that would cost money. The increase in cost would have to be passed on to the users.

 

[S-B]

Personally I find registration fee bit exclusive, but maybe it is not bad idea to keep this smaller at least at the beginning. The fee would do for sure rule out some problematic domainers but it is not automatic tool. Regarding the premium account I would rather see a reward to buyers with stellar record (not by amount of money spent but by number of transactions without problems) in terms of slight discount (10-15%) or higher number of possible back-ordered domains. BTW did you consider putting limit on number of the domains each member can backorder?

Points noted.

I'm leaning towards requiring some type of deposit to ensure that users don't default on an order. I understand that might keep some users away but in reality the deposit is essentially paid for by 2 backorders if you consider the discounted price.

 

[towhidzaman]

The only issue is I'd have to hire staff to do a "background check" and that would cost money. The increase in cost would have to be passed on to the users.

hmm.. yeah that is one problem when you are starting the service. Anyway, as long as the support is fast and easy to reach, I'll be a happy customer by all means. None of your competitor seem to care about it too much.

 

[S-B]

hmm.. yeah that is one problem when you are starting the service. Anyway, as long as the support is fast and easy to reach, I'll be a happy customer by all means. None of your competitor seem to care about it too much.

I plan to personally handle customer service until we can afford to hire a professional team.

 

[tonyk2000]

Anything that is potentially able to decrease DropCatch catching rate is appreciated

Pricing: Too many competition in $59/$69+ drops already, so there are likely no reasons to set this pricing level. Something like $15-$20 would be fine AND will help to catch more domains which would otherwise be catched by DropCatch for their hugedomains system

Payment methods: CC, paypal, wire. Alternatives like bitcoin and moneybookers/skrill (already accepted at internet.bs and dynadot). Make billing more flexible, including but not limited to saving various credit cards, setting paypal auto-billing agreement and allowing users to select between manual and automated billing. As for escrow and security deposits etc. - any dropcatching system has the same stable set of customers, mostly genuine ones. So no need to bother, just manual account approval - and this should work fine. Disallow cases of later-paying domainers that are still trying to sell the domain before they own it.

Interface: separate backorder and domain management websites. No need for an enduser to set "bidding alias" and/or verify themselves just to receive a push (if a domain is sold).

Domain management: just min. set of features. No need to waste resources on setting dns records management, mailforwarding, etc. A clear fact is that most domains WILL be transferred away after 60 days, which should be fine. Setting/running domainer-friendly registrar is a separate business...

Extra features like "best of the drop", "most active backorders" etc. - defininitely NO. Just allow downloading of raw pendingdelete lists. Nothing more. The work of dropcatching system customers should be respected and kept private

Ready to beta test

 

[towhidzaman]

I plan to personally handle customer service until we can afford to hire a professional team.

haha... that's good enough. You're always online :D

 

[S-B]

Anything that is potentially able to decrease DropCatch catching rate is appreciated

Pricing: Too many competition in $59/$69+ drops already, so there are likely no reasons to set this pricing level. Something like $15-$20 would be fine AND will help to catch more domains which would otherwise be catched by DropCatch for their hugedomains system

Payment methods: CC, paypal, wire. Alternatives like bitcoin and moneybookers/skrill (already accepted at internet.bs and dynadot). Make billing more flexible, including but not limited to saving various credit cards, setting paypal auto-billing agreement and allowing users to select between manual and automated billing. As for escrow and security deposits etc. - any dropcatching system has the same stable set of customers, mostly genuine ones. So no need to bother, just manual account approval - and this should work fine. Disallow cases of later-paying domainers that are still trying to sell the domain before they own it.

Interface: separate backorder and domain management websites. No need for an enduser to set "bidding alias" and/or verify themselves just to receive a push (if a domain is sold).

Domain management: just min. set of features. No need to waste resources on setting dns records management, mailforwarding, etc. A clear fact is that most domains WILL be transferred away after 60 days, which should be fine. Setting/running domainer-friendly registrar is a separate business...

Extra features like "best of the drop", "most active backorders" etc. - defininitely NO. Just allow downloading of raw pendingdelete lists. Nothing more. The work of dropcatching system customers should be respected and kept private

Ready to beta test

First and foremost, thanks for taking the time to reply!

As far as pricing goes, I'm not trying to compete with Pheenix. They are and always will be the cheapest alternative.

I can also take a look into the other payment options.

The biggest problem is there are many scammers running around. Chargebacks are a big problem. I'm going to stand my ground regarding some type of Escrow for high value transactions.

I do not plan on opening a registrar. Each domain caught will be assigned to an account at the registrar that caught the domain.

Exportable lists are definitely a possibility and I do agree that hard work should yield results. However, many don't have the time dig through thousands and thousands of domains everyday. It's a double edged blade.

I have your name for beta testing!

 

[S-B]

haha... that's good enough. You're always online :D

Heh. I'm online all day.

 

[4better]

I've read everything here from page 1 to 4. Well, so far so good. this_username_was_banned is very receptive to all suggestions. Am hoping for the best. Right now, I'll wait and see... but I see myself being a part of it.

 

[S-B]

I've read everything here from page 1 to 4. Well, so far so good. this_username_was_banned is very receptive to all suggestions. Am hoping for the best. Right now, I'll wait and see... but I see myself being a part of it.

Thanks for your kind words!

 

[bashariqbal]

I do not plan on opening a registrar. Each domain caught will be assigned to an account at the registrar that caught the domain.

Then are you partnering with registrars for BO?

 

[S-B]

Then are you partnering with registrars for BO?

Many, many registrars to start with.

There are more pieces to the puzzle but that's how we plan on starting.

 

[bashariqbal]

Many, many registrars to start with.

There are more pieces to the puzzle but that's how we plan on starting.

If possible can you share the approx number and names of some of the registrars or I am asking too much?
And count me in 4 β.

 

[S-B]

If possible can you share the approx number and names of some of the registrars or I am asking too much?
And count me in 4 β.

I cannot. I am waiting on contracts to be signed. :P

You're in!

 

[muttus]

This discussion is getting better every day .

1) I was wondering how will this actually work (you said that the domain will be in the account of the registrars which caught it). I believe registrars must be happy about it By signing to your service will it automatically create accounts will all partner registrars? Or will it be up to user to make all those registrations?

2) From domainer perspective I think not having list which shows number of bids or top searched domain is better, that will at least give a domainer feeling of exclusivity when backordering also it will avoid stupid games when people are waiting till last 35 seconds to put backorder. If all you can do search through domain lists and submit without being afraid that anybody else will see your work you might get more backorders IMHO, everybody who wants to go easy way can always go to Namejet and find most thought after domains there then submit with you (like Dropcatch does

3) When are you planing soft launch?

 

[nish20111]

if you need more beta testers later on, count me in aswell

 

[Hidigo]

I don't have much experience on drop catching, but every day I learn something new.

 

[S-B]

This discussion is getting better every day .

1) I was wondering how will this actually work (you said that the domain will be in the account of the registrars which caught it). I believe registrars must be happy about it By signing to your service will it automatically create accounts will all partner registrars? Or will it be up to user to make all those registrations?

2) From domainer perspective I think not having list which shows number of bids or top searched domain is better, that will at least give a domainer feeling of exclusivity when backordering also it will avoid stupid games when people are waiting till last 35 seconds to put backorder. If all you can do search through domain lists and submit without being afraid that anybody else will see your work you might get more backorders IMHO, everybody who wants to go easy way can always go to Namejet and find most thought after domains there then submit with you (like Dropcatch does

3) When are you planing soft launch?

1.) The accounts will automatically be setup.

2.) I'll make note of that. I'm not really sure that will work from a business standpoint. I'll check into it though!

3.) I'm not sure. We should have the website up by the 1st. Fingers crossed! :P

 

[S-B]

if you need more beta testers later on, count me in aswell

You're in!

 

[S-B]

I don't have much experience on drop catching, but every day I learn something new.

As do I, my friend.