TheParkingPlace

Is this a good domaining strategy?

Discussion in 'Domain Beginners' started by StarDomains, Jan 7, 2017.

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  1. StarDomains

    StarDomains Established Member

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    Hi everyone! I'm new at NamePros and at domaining and have a few questions that I hope you can help answer. I want to focus on brandable domains and a little on keyword domains as well. I have the domain SolveBrite.com that I currently have listed on a popular marketplace for sale. I have created an entire corporate identity package to go with the domain name and that includes a logo, business card, envelope, and letterhead. There are social media covers and profile pictures to go with it as well. I have reserved some social media accounts and usernames for the domain also. Some possible company names are: SolveBrite LLC, SolveBrite Corp, SolveBrite Co, SolveBrite Networks, SolveBrite Inc, SolveBrite Tech, SolveBrite App, SolveBrite Partners ect...

    Do you think that this is a good brandable domain name, or is it worthless?

    Is the identity and social media package a good idea or not?

    Would this increase the value of the domain in the eyes of a potential buyer?

    In your opinion what is the best platform or marketplace to be selling this type of domain on?

    I am a little unsure how to approach pricing this domain. On some brandable marketplaces domains of this caliber are listed for $1500 to $2000 to even $3000. In your opinion how much is this domain potentially worth?

    Looking forward to hearing from you!
     
    The opinions expressed on this page by users and staff are their own, not those of NamePros.
  2. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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    It's not a bad domain. Submit it to BrandBucket and see if they'll accept it.
     
  3. StarDomains

    StarDomains Established Member

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    If it doesn't sell at the 30 day auction where it's listed now, that's what I will do.
     
  4. yesterday

    yesterday Supportive Member NamePros Supporter

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    I'm not sure that is any good. I can't see the value in it.
    The domain doesn't mean anything to me, and if (as a potential buyer) I were to set up a whole new brand I'd probably get a domain that nails what I do, so given that you are not targeting any specific marketplace, it is unlikely to match someone's plan very well.
    Additionally I think that if you are going to spend money on extending a brand - start with a good name that people are already showing interested in.
    It is extremely tempting (I know because I keep falling into it) to fall into the trap of thinking 'if I can create a valuable domain out of this not so good free-to-reg and sell it then I can do it again and again until I've got a reliable pattern of income'
    I'm not saying you can't do that because there will be a few, maybe quite a few, on this forum who have done that, but I am saying that that is the hard way - and you need to know what you're doing or you can waste a lot of life doing it for no reward.
    The straight advice is always to find good domains even if they cost a little more. Don't free-to-to-reg unless you know you can sell it, and sell this one (solvebrite) before you buy another - that way you bring yourself back down to earth and realise how much effort it takes to sell a bad domain. It wakes you up to realising that it's a sort of winner-takes-all market. The good domains sell themselves for many many multiples of the price of almost identical but bad domains. The mid market is full of knowledgeable, experienced traders, noobies, try hards, addicts and yes even some more dishonest lots.
    i'd put myself in the experienced addict category :) and would follow my advice more often if I only listened!
    Best of luck with it.
     
  5. StarDomains

    StarDomains Established Member

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    Thanks for the advice. You make a good point.
     
  6. Cdomains

    Cdomains Active Member VIP

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    It's not a great name, but not the worst I've seen from a newbie.
     
  7. Kate

    Kate Thinking inside the Box™ VIP ★★★★★★★★★★

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    End users like domain names that are somewhat unique, so brandable are good candidates. However, they also like that such domains be free of history and emotional baggage. I don't think you should try to sell them a full package including stationery. Let them brand the domain as they deem fit.

    If on the other hand you're selling a real business it's a different situation.

    You can run a media agency if you'd like, but it's another job.
     
  8. StarDomains

    StarDomains Established Member

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    I understand what you're saying Kate. I thought all the extra stuff might increase the value more, but it makes sense that potential companies would want to create the brand identity their own way.
     
  9. SiteMac

    SiteMac Established Member

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    The best newbie strategy is not to buy a lot until you sell some first. I think limiting oneself to 30 domains until one is sold it a good strategy. After you sell 1 you know you are on the right path.
     
  10. StarDomains

    StarDomains Established Member

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    I've heard of epic fails where somebody new to domains went and registered 100 of them in an hour and they were all trash. I don't want to be that kind of person. So far I have less than five. I'm going to take it slow and learn as much as I can as I go along.
     
  11. imc

    imc Established Member

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    If the most anyone thinks you'll get is $3000 for that name, then you're working too hard for the money. Don't focus on the name, create a principle brand and elevate it. Let the domains you sell be the beneficiary of your brand.
     
  12. 168

    168 Active Member VIP

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    Since you put a lot of effort into a package, have you identified/emailed potential parties/industries ? new tech incubators ?
    Outbound usually brings the best ROI.
    A little more homework and you may have a winner!
    Cheers
     
  13. imadoer

    imadoer Active Member PRO Business Account VIP

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    I think your putting way too much effort into this name. I would put more time into finding more names to buy. Don't have all your eggs in one basket. That name could take a long time to sell. Diversify buy a portfolio of names. This way your not waiting on one hand reg to sell.
     
  14. catchmesleeping

    catchmesleeping Established Member

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    It's not a bad name.

    I've had some buyers ask me before, if I also owned the social media accounts to go along with a domain name that they wanted to buy from me. In one or two cases, not having those accounts prevented a deal from happening.

    The downside of this strategy is that it's hard to scale. I can go and register a domain name in a minute and have it parked in another minute. But for you, to create this kind of branding, and then go through the trouble of registering the social media accounts, you'll need to invest several hours of time.
     
  15. StarDomains

    StarDomains Established Member

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    Thanks for the advice... That makes sense.
     
  16. StarDomains

    StarDomains Established Member

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    You're right catchmesleeping, doing something like this would be hard to scale. My time may be better spent finding other good quality domains.
     
  17. Ategy.com

    Ategy.com Business Member Business Account

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    It's not a horrible name (I kinda like it) ... and yes .. similar names have sold on brandbucket in the 2k-3k range .. but the very important part of that puzzle that is missing is that for every 1 domain like that they sell .. 500 others do not sell.

    Grabbing the social media accounts is a plus I'd think .. while on the other hand I've heard doing stuff like the logos, stationary, etc can actually make the focus of the possible end use too narrow and might stifle the imagination of a potential buyer. Meaning that you might have a logo for solvebright with a lightbulb ... then when a potential buyer sees it they think it's only a good name if they want to sell lightbulbs. I'm over simplifying .. but I'd think in cases where you have a generic brandable you'd want to give the illusion of the widest possible end-usage. For key-term domains where the potential end use is more narrow then I'm guessing it could be a good thing.

    Good luck with it! :)
     
  18. Sophia Alice

    Sophia Alice CMO - ISPAZE.COM VIP

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    Strategy is good but why all with solve brite ? use different names so that you can have more target audience focus on all niches
     
  19. StarDomains

    StarDomains Established Member

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    I see what you're saying. Having something too narrowly focused could cut out a lot of other potential buyers. Next time I'll try to take a broader approach.
     
  20. yesterday

    yesterday Supportive Member NamePros Supporter

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    Not necessarily! Only sometimes!

    A closely targeted name is often a good choice.

    It's often a good idea to have an idea of who it is that might buy the name.

    If you're working in a particular field of business during the day, maybe see what domain would be good in that field that you know about. It could be a really detailed specific name.
     
  21. doubleU

    doubleU Top Member VIP ★★★★★★★★★★

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    Domainers often make logo's for their newly acquired domains and use the logo's to showcase them but spending anything more than 20-30 minutes on each logo is proberly a waste of time as it's unlikely to satisfy the buyer no matter how good the logo is.
     
  22. StarDomains

    StarDomains Established Member

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    Good point. It can help in some cases. But it's easy to get too much time wrapped up in it.
     
  23. yesterday

    yesterday Supportive Member NamePros Supporter

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    How about looking for "benefit" brand domains.
    i.e. get brand domains that express the benefit that the company wants to show.

    Say you're looking at selling lighting solutions for the posh home.
    What would be the main questions you'd face when trying to sell your service?
    (I don't know! but let's continue the solvebrite idea!)
    I would hazard a guess that as a lighting buyer the benefits you'd want are:
    a really nice design
    a recognised designer
    lights that can have variable intensity
    centralised control for all the rooms and all the lights
    eco efficiency so you don't break the bank every time you switch them on, but maybe more importantly as an idea that you think you're not doing the earth any harm with all these lights.
    cheap to install
    cheap to replace
    able to find replacement bulbs easily
    easy to replace bulbs
    hopefully never need to replace bulbs
    one supplier for the whole house
    quick installation
    able to do big (or small) installations
    original

    etc etc etc
    Even if this is a highly inaccurate assessment (I've never bought or sold designer lighting) if you then look at the words that you've written and extract the benefits you get things like:
    quality
    designer
    original
    quick
    capable installations
    specialist installations
    special
    etc

    and leading onto that you might get a list of words that may reflect the qualities required in the industry.
    I just wrote down the following domains:
    specialistlighting.com
    specialist-lighting.com
    specialite.com
    qualite.com
    qualitylighting.com
    quality-lighting.com
    lovelight.com
    love-light.com
    lovely-lights.com
    lovelylights.com
    lovelights.com
    love-lights.com
    superlights.com
    specialistlights.com
    specialist-lights.com
    ecolite.com
    eco-lite.com
    ecolighting.com
    eco-lighting.com
    ecoqual.com
    ecoquick.com
    ecoquality.com
    ecolove.com
    ecolights.com
    ecolight.com
    eco-lights.com
    eco-light.com
    ecoexteriors.com
    ecointeriors.com


    and tested them in bulkseotools .com (no connection to me)
    and almost all of them were taken.
    all except:
    specialistlights.com
    specialist-lights.com
    lovely-lights.com

    Which is not what we wanted because they're not really "brand" domains, but specialistlights.com is a good candidate for consideration for buying.
    A search for specialist lights in google shows ads on the top and bottom of the listings and you could look in more detail at search quantity etc etc for this term and make a judgement on whether to buy it anyway.

    I'm not going to buy that domain because I know nothing about lights or lighting and it's not a brand sort of domain but it's definitely worth considering for a small turnover profit.

    So that small exercise, and the idea of "benefit" brand domains didn't completely work on the first try but it did show that it could work.

    and then putting that against solvebrite - it's not completely clear what aspect of brite you're hoping to solve - probably because you didn't have a market in mind before creating it.

    Now just for the record, I hope you sell solvebrite even if I get egg on my face for not liking it! I'm trying to be helpful not unnecessarily negative.
     
  24. Ategy.com

    Ategy.com Business Member Business Account

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    No .. I dont see that problem with the domain ... it's fairly wide ranging .. but I'm saying having a visual logo or semi-developed website could limit the imagination of a potential buyer because they'll only see it like you project it with the logo etc. But it really depends on the logo .. in some cases it could actually hep if you're lucky .. or if the niche portrayed by the logo is a profitable/popular one.
     
  25. StarDomains

    StarDomains Established Member

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    @yesterday I haven't thought of approaching it that way, but in the right circumstance that could be a winning strategy. I like the way you think!
     

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