How to expand the number of domain name end-users?

[62.com]

If we think about domain names in economic thinking, the higher the price of domain names, the less demand, how to expand the number of users?

 

[biggie]

What as above Recons.Com said, " 90% settles for names that in reality hurt their business in many ways, while it goes unnoticed for them. They really can't do A/B test for the business domain name and brand, can they? And only 10% (just empirical numbers, no real research behind) understand the value of a great brand and domain, either intuitively, or by experience, or by training.So, just educating entrepreneurs, incubators, decision makers could help increasing the market size."

Hi
there is no empirical proof to validate those findings,
nor is there proof that 90% of businesses choose domain names that hurt their business.

also, those businesses that do change their domain names, obviously or presumably, have done some research, if/when they adopt another domain for their company or service.

you can educate the general public all you want, and increase the number of people who may be interested in a particular domain,
but you cannot expand the pool of buyers, unless you lower the price to a point where it becomes more affordable, for more people.

are you going to lower price of names like ww com, le.com, wifi com, to $5,000> $15K range to increase pool of potential buyers?

i think not.

imo....

 

[jhm]

The best way to expand your users is to simply have a good name in the first place

 

[Lox]

If you want to extend the end user base, you’ll have to explain it to me and f.e. TEDx , Web Summit, Trade show etc. audience.

Forget the Q? “Why is so expensive”.

The theme / question is

“What I can do with a few domain names valued ... : $1500 by Godaddy vs $50.000 offered on X marketplace.”

 

[62.com]

Hi
there is no empirical proof to validate those findings,
nor is there proof that 90% of businesses choose domain names that hurt their business.

also, those businesses that do change their domain names, obviously or presumably, have done some research, if/when they adopt another domain for their company or service.

you can educate the general public all you want, and increase the number of people who may be interested in a particular domain,
but you cannot expand the pool of buyers, unless you lower the price to a point where it becomes more affordable, for more people.

are you going to lower price of names like ww com, le.com, wifi com, to $5,000> $15K range to increase pool of potential buyers?

i think not.

imo....

Hi，

haha, thank you for your reply. Good answer! Definitely, for those high quality domain names, lowering price is unreasonable. The core is that we can expand the market size within the fixed pool by educating, as there are some potential buyers who are affordable and they just did't realize the value of a good brand domain name. Thank you.

 

[62.com]

If you want to extend the end user base, you’ll have to explain it to me and f.e. TEDx , Web Summit, Trade show etc. audience.

Forget the Q? “Why is so expensive”.

The theme / question is

“What I can do with a few domain names valued ... : $1500 by Godaddy vs $50.000 offered on X marketplace.”

Yes, so may I know your answer for those two questions? or can you share with us? Thank you.

 

[Recons.Com]

Hi
there is no empirical proof to validate those findings,
nor is there proof that 90% of businesses choose domain names that hurt their business.

also, those businesses that do change their domain names, obviously or presumably, have done some research, if/when they adopt another domain for their company or service.

you can educate the general public all you want, and increase the number of people who may be interested in a particular domain,
but you cannot expand the pool of buyers, unless you lower the price to a point where it becomes more affordable, for more people.

are you going to lower price of names like ww com, le.com, wifi com, to $5,000> $15K range to increase pool of potential buyers?

i think not.

imo....

There is plenty of empirical evidence out there if you are willing to interact with decision makers.

Often they want a premium name, but they have a set budget for it based on the perceived value of domains. Which they often get wrong.

So they know what the perfect name is for them but won't pay the money.

A company was using Name+City.com for their business. They raised around 200 million $ for growth and suddenly realized +city part hurts them, as they are expanding to other places. So they inquired Name.com and got a quote of $60k. They decided to go with Name.co. I told the CEO that it was a big mistake. He said, he can't justify paying that money for a domain name. The name.com was a good one and generic enough that there were around 100 potential end users. So I made an offer to the owner and eventually bought it for under $4k. I asked CEO if he wants it for $14k. He was excited, but then came back that his team doesn't think extension matters that much and .co is fine and they don't believe my argument that .co will leak emails and traffic. So I asked his permission and set up email servers to catch all and within 24 hours I had 3 emails intended for them.

One was from a potential client who would have thought that he is being ignored otherwise. Second was from a service that their own employee subscribed to but entered .com for .co and the third was from a service provider that called and asked the email address and was told it is [email protected] but they still sent it to [email protected]

They bought the .com from me right there, on the spot after that.

Just to be clear, I was not targeting the company, the name was very generic and I would be happy to keep it and I had a great relationship with the CEO to be able to do all those tests and have discussions.

So, there. I increased the size of the market for premium names by 1.

 

[62.com]

There is plenty of empirical evidence out there if you are willing to interact with decision makers.

Often they want a premium name, but they have a set budget for it based on the perceived value of domains. Which they often get wrong.

So they know what the perfect name is for them but won't pay the money.

A company was using Name+City.com for their business. They raised around 200 million $ for growth and suddenly realized +city part hurts them, as they are expanding to other places. So they inquired Name.com and got a quote of $60k. They decided to go with Name.co. I told the CEO that it was a big mistake. He said, he can't justify paying that money for a domain name. The name.com was a good one and generic enough that there were around 100 potential end users. So I made an offer to the owner and eventually bought it for under $4k. I asked CEO if he wants it for $14k. He was excited, but then came back that his team doesn't think extension matters that much and .co is fine and they don't believe my argument that .co will leak emails and traffic. So I asked his permission and set up email servers to catch all and within 24 hours I had 3 emails intended for them.

One was from a potential client who would have thought that he is being ignored otherwise. Second was from a service that their own employee subscribed to but entered .com for .co and the third was from a service provider that called and asked the email address and was told it is [email protected] but they still sent it to [email protected]

They bought the .com from me right there, on the spot after that.

Just to be clear, I was not targeting the company, the name was very generic and I would be happy to keep it and I had a great relationship with the CEO to be able to do all those tests and have discussions.

So, there. I increased the size of the market for premium names by 1.

Haha, Interesting experience! Actually, many companies get wrong like that, only if problems finally be on the spot. Some may be lucky enough to be solved, but some got hurts. All in all, for endusers, choosing a good name should be considered as a long-term benefits.

 

[Lox]

Yes, so may I know your answer for those two questions? or can you share with us? Thank you.

I’m working on something that is going to happen in Q3-Q4 2021. Eleven people are already employed and they are busy with the planning and structure.

Regards

 

[biggie]

There is plenty of empirical evidence out there if you are willing to interact with decision makers.

A company was using Name+City.com for their business.

Hi


Congrats on your sale.
however, your story is only one example, and it does not represent 90% of companies.

also, i would argue that you did not increase the size of the market,
unless you had other buyers, who were willing to pay the same price for that domain name.

imo...

 

[equity78]

are you going to lower price of names like ww com, le.com, wifi com, to $5,000> $15K range to increase pool of potential buyers?

i think not.

Good one Don