Squadhelp to launch a “Wholesale Marketplace”

[JudgeMind]

In a newsletter sent today from @squadhelp , the company has announced their launch of a “wholesale marketplace” where sellers can sell their listed squadhelp domains to other sellers.

 

[NYJimbo]

Gettin' better every day. Don't stop.

 

[private123]

Squad help global rank jumped

With the amazing creativity and participation of our community, Squadhelp has built a strong position in the naming category by offering a unique combination of Crowdsourcing, Gamification and Brandable domains for sale.

In the past, this growth has primarily come from companies who have used our Crowdsourcing process to host naming contests. However, over the last several months, we've been able to rapidly build a strong presence in the Marketplace (Brandable Domains for sale) category. Our growth in Q1 2019, primarily came from the Marketplace, and we are pleased to share some key stats.

In order to provide multiple points of reference, we have analyzed the stats from 3 leading platforms that track competitive metrics (e.g. Alexa, SimilarWeb and SEMRush).

Note: The information provided by competitive tracking tools (such as Alexa, SimilarWeb, SEMRush) is based upon estimates and their unique tracking methodologies.

 

[biggie]

so, how much commission will they charge?

imo...

 

[JudgeMind]

so, how much commission will they charge?

imo...

Perhaps @GrantP can comment?

 

[Atom.com]

Perhaps @GrantP can comment?

Thanks for tagging me. You can read more about this new feature (including commission rates) here:

https://helpdesk.squadhelp.com/domain-marketplace/seller-to-seller-wholesale-marketplace

Note - this feature is currently not live yet, and should be available later this week.

 

[Recons.Com]

@GrantP

Alexa stats don't mean much, as it is very dependent on the geography of your visitors. If you get a lot from India and other countries, especially from webmasters, designers etc. in those countries, your Alexa will get huge boost.

SH Alexa shows India as top country (which is not necessarily true), so your 50K ranking is probably heavily influenced by having lots of creative contributors visiting your site regularly and having Alexa plugin installed.

I am surprised that you are referring to such semi-scientific sources when showing traffic growth. Google analytics would have been much better source, for example.

 

[Atom.com]

Alexa stats don't mean much, as it is very dependent on the geography of your visitors. If you get a lot from India and other countries, especially from webmasters, designers etc. in those countries, your Alexa will get huge boost.

SH Alexa shows India as top country (which is not necessarily true), so your 50K ranking is probably heavily influenced by having lots of creative contributors visiting your site regularly and having Alexa plugin installed.

I am surprised that you are referring to such semi-scientific sources when showing traffic growth. Google analytics would have been much better source, for example.

Excellent point - The Alexa ranking is based upon several estimates and tracking technologies which may not be very reliable. These days, tools such as SimilarWeb offer a bit more scientific view, but again these tools are based upon estimates. This is the reason, we reviewed our performance across 3 different tools with independent tracking technologies. The reason we used external tools is so that we can offer a more objective point of view from external tools that track and report this information publicly.

Let me check with our team if we are able to share some information directly from our own Google Analytics (due to competitive reasons, we do not typically share our internal numbers but your point is valid, and I will follow up with our team).

 

[JudgeMind]

Thanks for tagging me. You can read more about this new feature (including commission rates) here:

https://helpdesk.squadhelp.com/domain-marketplace/seller-to-seller-wholesale-marketplace

Note - this feature is currently not live yet, and should be available later this week.

I don’t think I’d like to risk this, there is an open door here where end users can have three listings and purchase my names for a fraction of the listing price. I don’t think it will take long before it’s well known that this is an option and it will in the long run affect the overall sales to end users at end user pricing. I think I’ll respectively decline at this point to list any names in the wholesale marketplace and sit back and see what happens first.

 

[Furquan]

Excellent point - The Alexa ranking is based upon several estimates and tracking technologies which may not be very reliable. These days, tools such as SimilarWeb offer a bit more scientific view, but again these tools are based upon estimates. This is the reason, we reviewed our performance across 3 different tools with independent tracking technologies. The reason we used external tools is so that we can offer a more objective point of view from external tools that track and report this information publicly.

Let me check with our team if we are able to share some information directly from our own Google Analytics (due to competitive reasons, we do not typically share our internal numbers but your point is valid, and I will follow up with our team).

I would suggest not to disclose Google analytics data.

I agree Alexa it's not a reliable source but let me tell you Alexa is something which tells how a market/website is growing.

Keep it up, you people already beating a lot of sales to your competitor. I have rumours of one of "*Small Brandable Marketplace" going to be sold.

 

[Recons.Com]

Excellent point - The Alexa ranking is based upon several estimates and tracking technologies which may not be very reliable. These days, tools such as SimilarWeb offer a bit more scientific view, but again these tools are based upon estimates. This is the reason, we reviewed our performance across 3 different tools with independent tracking technologies. The reason we used external tools is so that we can offer a more objective point of view from external tools that track and report this information publicly.

Let me check with our team if we are able to share some information directly from our own Google Analytics (due to competitive reasons, we do not typically share our internal numbers but your point is valid, and I will follow up with our team).

Thank you for your detailed and to the point responses!

No need to expose any confidential info. Maybe something along the lines of percentage growth over a period of time, total visitors currently.

 

[Kachi]

I don’t think I’d like to risk this, there is an open door here where end users can have three listings and purchase my names for a fraction of the listing price. I don’t think it will take long before it’s well known that this is an option and it will in the long run affect the overall sales to end users at end user pricing. I think I’ll respectively decline at this point to list any names in the wholesale marketplace and sit back and see what happens first.

My thoughts EXACTLY

 

[Furquan]

I also noticed that SquadHelp on 1st position for many keywords.

Let me tell, You guys rock.

Edited:- Removed the image.

 

[Atom.com]

I don’t think I’d like to risk this, there is an open door here where end users can have three listings and purchase my names for a fraction of the listing price. I don’t think it will take long before it’s well known that this is an option and it will in the long run affect the overall sales to end users at end user pricing. I think I’ll respectively decline at this point to list any names in the wholesale marketplace and sit back and see what happens first.

It's always a good idea to take a more cautious approach especially if you are concerned about your wholesale prices being discovered by end users. Participation in this feature is entirely optional.

This feature is really intended for those sellers who want the additional flexibility of buying and selling their names to and from other fellow sellers. Of course, we don't recommend listing every domain in the portfolio at a wholesale price, but many sellers have contacted us about wanting to sell some of their names (especially those that are close to renewal) at a wholesale price to other sellers.

We believe getting 3 premium listings approved in our marketplace is not easy (especially for a casual end user) and on an average, this would require them to submit 25+ domains to get 3 listings approved. As a result, we believe this offers a much more secure environment than listing the names in an open marketplace where a simple Google search can lead to that page. Having said that, we will continue to monitor and may tighten the visibility requirements even more in future.

 

[JudgeMind]

It's always a good idea to take a more cautious approach especially if you are concerned about your wholesale prices being discovered by end users. Participation in this feature is entirely optional.

This feature is really intended for those sellers who want the additional flexibility of buying and selling their names to and from other fellow sellers. Of course, we don't recommend listing every domain in the portfolio at a wholesale price, but many sellers have contacted us about wanting to sell some of their names (especially those that are close to renewal) at a wholesale price to other sellers.

We believe getting 3 premium listings approved in our marketplace is not easy (especially for a casual end user) and on an average, this would require them to submit 25+ domains to get 3 listings approved. As a result, we believe this offers a much more secure environment than listing the names in an open marketplace where a simple Google search can lead to that page. Having said that, we will continue to monitor and may tighten the visibility requirements even more in future.

I think the restrictions on the use of the wholesale marketplace should be tightened up right from launch. I think that this opportunity should be open to only those sellers who have won a contest, have sold a name on the marketplace or who have 10+ premium listings in their account. There is a potential to lose a lot of sales to end users who figure out they can buy names for $xx instead of $x,xxx. I think even if it took them 50 names to submit to get three approved it’s still going to save them a lot of $ in the end. How many buyers on your platform are repeat buyers? I’d say lots are, I think if they caught wind of this wholesale marketplace, they would take extra measures to reduce their overall expenses.

I’m just being very cautious with this because I see the potential for it to backfire given the current setup. I really enjoy squadhelp and everything your team has built.

 

[Furquan]

I think the restrictions on the use of the wholesale marketplace should be tightened up right from launch. I think that this opportunity should be open to only those sellers who have won a contest, have sold a name on the marketplace or who have 10+ premium listings in their account. There is a potential to lose a lot of sales to end users who figure out they can buy names for $xx instead of $x,xxx. I think even if it took them 50 names to submit to get three approved it’s still going to save them a lot of $ in the end. How many buyers on your platform are repeat buyers? I’d say lots are, I think if they caught wind of this wholesale marketplace, they would take extra measures to reduce their overall expenses.

I’m just being very cautious with this because I see the potential for it to backfire given the current setup. I really enjoy squadhelp and everything your team has built.

I don't think an end-user going to do this. if they were being smart don't you think they simply made up one name like the listed name?

I am happy that SquadHelp doing outbox things, it is great for a small seller like me, sometimes we need to sell our names at wholesale price. putting a restriction as 30+ Plus name published then you get slack channel pass (its BP policy and I am not happy with this) or your ideas.

If someone gets to knew even this I can tell you the impact will be minimum and its always the buyer luck. As it will be the buyer who will decide to sell his name at wholesale price because he wanted the money. either he got it to by selling at wholesale price or at the premium price.

 

[Asfas1000]

@GrantP I'm with @JudgeMind on this. Commoditization of domains will take a toll on $x,xxx sales. It's too big a risk to take.

If word gets out that domains are traded for $xx, one or two blog posts on this will hurt SH and its sellers alike.

 

[SuperBrander]

@GrantP First of all, kudos on the growth and innovation. I sent a message using the blue button and asked to forward it to your marketplace team right after seeing the newsletter that pretty much echoes what JudgeMind had written. Having a wholesale marketplace has a potential to backfire. The knowledge that such a place exists can make end users feel like they have the option of paying $XX instead of $XXXX and that can't be good for their mind frame and for sales. Such trading is best done on the down low, as is the case with other marketplaces. If you do go ahead with it, I think it would be wise not to include help pages and/or other documentation about it. Either way, the intention is good so thanks for that.

 

[JudgeMind]

@GrantP I think that having a dedicated sales thread here on namepros or another forum or slack channel would work well and limit squadhelps overhead. This would have to be a collaborative effort between namepros or another community, or a seperate atmosphere all together. SH could just put a few on transfers between seller account.. $5 per name transfer. After all the whole purpose of the Wholesale marketplace is to try to create additional revenue for SH.

 

[Recons.Com]

Or via slack channel, as other marketplaces are doing. Someone puts on the dedicated channel the names and then there are pm negotiations on the price.