There's a revolution in technology going on and for as many businesses that get it, many intelligent organizations still just do not. I get a few offers, most of them low, on different domain names every month and one of the questions I was asked by a potential purchaser was, how do I arrive at a price?
It's a fair question and to put an answer to it, here's the rationale behind the numbers. First, like real estate domain names are virtual property, but with several valuable added dimensions. Domains are the way customers find your business, remember your location and spread the news about your products. It's your business address for all practical purposes. Ninety percent of the people you do business with will never visit your business at it's physical location, but they'll all check your website, which is by way of your domain name.
Names that have more traffic or are capable of generating more traffic with short memorable names are worth more and their market demand is more. Like having a shop on main street vs. opening up a business on a rural road. A good memorable name that suits your business or product lines brings customers and helps them find their way back to you. Most company names are picked without the customer in mind or without any marketing considerations, just a name that means something to the organization on a somewhat emotional level. You can spend millions branding a odd name or bring the brand to your door with a descriptive name. And with domain names, you can have several or hundreds of names to drive traffic to your business.
The method, internet media. Consider the pro's and cons of different advertising media. There's print, TV, radio and internet. Print, I throw it out. It's garbage that comes with my printed mail. I haven't bought a newspaper in over 10 years at least and the last time I think I looked at a magazine, I was either in a doctors office or on a plane. Forget print, it's over. The postal service is nostalgic and I'd be willing to bet 100 percent privatized within 10 years. TV, I watch movies for the most part or change the channel during the commercials. Watching the Atlanta Falcons beat the Aint's in the season opener, I saw a couple of ads, but couldn't tell you what they were today. I'm moving in the direction of subscription TV like Netflix and Hulu. I'm not alone. Radio, okay you get ads in front of me while driving more often then I care to say. Occasionally, I am too lazy to load a playlist from my phone or all the stations that I have programmed in are in sync with their commercial's timed together. Traffic reports get me to tune in, but the rest of the noise I could do without. I get about half of percent of anything useful from radio news. The tone and rate of speech only ramps up tension. I'm working on weaseling out listening to main stream radio all together. Half the time I enjoy just listening to silence.
The internet has main access to get in-front of my eyes. I am on the net at home, at work, even while visiting a store in the mall I might be checking prices of a competitor on my phone. I have discretionary income and I move quickly. Like a lot of your customers, I have much to manage and like in the real world, I have to be street smart online and as nimble as a forest creature to find the best deals. I validate a business I am going to use based on the domain they have, how their website looks, works and if they have a phone number on their contact page. Usually I like a second opinion, options or it's just the way to complete due diligence by checking a few other sites. How I find that second, third or fourth site through search or by their domain name directly is potentially a company I'll be working with. CEO's of those companies are the CEO's that are likely to make their 17 percent growth targets and are the ones that get their bonuses. They're the one that get it. I price domain names comparable to other media even when that media is less effective.
30 seconds on Atlanta TV during prime time will cost you 30k and your money is gone just that fast. Most industry magazine ads will cost you upwards of 1200 per month for a four color, 1/2 to full page ad and you don't even know if anyone is reading it. Your domain name is yours perpetually. The internet is even more revolutionary as the phone system was when it came into being some 120 years ago and as fast as technology grows, the internet is not going to be replaced anytime soon. With a great domain name you look like the authority in your industry. Most clients will never see your office, I can't stress enough how important your online presence is. Technology is the only industry that has had double digit growth since the 70's and looks to be booming for the rest of man's existence. The slope of the curve is about to go vertical.
The short, memorable, brand-able, desirable names, and what other similar domains have sold for, makes for the price range listed. We encourage you to make offers on our domains and other available names. The cost, effectiveness and value is continually rising.
Investing in domain names is similar to real estate in that high traffic areas generally go for higher prices as well as desirable locations. DomainPicks.com Provides a clear list of domain names at various auction houses listed for the coming day. Mark's a excellent host and you'll find some gems among the list along with some personal antidotes.
On DomainPicks.com you can find a deal on a domain name and read through the articles on Mark's site to get a feel for how vast the domain industry is.
Short of fielding email inquiries about domain investing, I decided to create a series of posts featuring some of the domain sites read on a regular basis.
The undisputed authority for domain name news has to be Domain Name Journal. Ron Jackson, journalist and former news anchor built one of the most trusted blogs for reporting events and sales within the domain industry.
DNJournal.com is a weekly periodical and a must read for anyone in domain investing. Ron has a warm and intelligent style that emanates through the headlines to each in-depth cover story.
A guide that every guy needs to carefully consider. Professionally produced by Tactical Response, James Yeager and Dana Mclendon nail the science of babeology with a matrix for selecting women.
There is even a simple chart for women.
Enjoy the video here.
Looking for an interesting tech read? Check out Bit Rebels Technology section. They cover mainstream technology news and human interest stories from around the globe. Tech products trending in Europe generally don't make it in the US media unless they're a big item. Personally, I like to know before that happens.
BitRebels.com makes for an enjoyable read whether looking for new reviews on apps, geek info or just killing some time at Starbucks.
WDD (World Domain Day) is an international event for the promotion of domain names and to educating people with building successful online businesses. WDD is being held in India for the first time on 8/24/2014. Join them to network with hundreds of domain investors, web professionals, startups and venture capitalists to learn all about creating successful online businesses!
Register for the event to listen to international speakers, receive exclusive offers, gifts and much more. Learn about the importance of domain names and e-commerce in the largest developing and fastest growing market, India.
India's projected growth rate for technology is in the neighborhood of 35% annually for the foreseeable future.
The previous posts on business trends have gathered a little more interest, so in doing more research I found the following treasure trove on tech trends at Deloitte University Press. Deloitte's articles through and complete with graphs to supplement the projections. The growth forecasts coincide with other news on technology predictions and when you read over the article you'll see how well laid out this presentation is. My hat is off to Deloitte, Bill Briggs, Mariahna Moore and the cast of thousands that compiled this report.
The base concept is Globalization and thinking in terms of a global resources, supply chain management and emerging markets that are evolving with the technology. Right now we are at a tipping point with the growth of Asian and India's markets set to explode. Delivering services to these economies and the challenges that will ensue, can't even fathom the numbers the rewards will bring into the fold. We are just beyond the base of the curve where it's slope is about to go vertical. Artificial intelligence, robotics, wearables, battery tech, culture and class separation. This is by far the best report for all entrepreneurs to read or make a study of. A great series from Deloitte.
Discovered VentureBeat.com while looking for a new blog to add to my morning read. Found a great source of tech news and information that's segmented into categories for easy of perusing.
Well organized into channels areas which works for me. I like to freshen up on an industry before talking with a client. Worth checking out and keeping up with.
I left high school a full year early, and as a condition of early graduation my parents had to sign off on it being under 18 years old. They had another condition too, that I attend the local junior college and take at least two classes. As a master of the minimum, that's just what I did, took only two. I took Intro to Business for exactly what it was and Criminal Justice out of curiosity.
I got lucky with my Intro to Business class, the professor was a self made millionaire teaching for only a dollar in salary per year. He had quite an opinion and one of the best pieces of investment advice that I picked up came from him. Simply put, to make money in business you need to look for trends.
Here's 15 trends in technology from the Business Insider that are shaping the future.
Oddly enough there is no beer sold a any World Cup Soccer match. Even with Budweiser as a sponsor, no beer is sold in the stadium due to how unruly a 'futbol' crowd can become under the influence of alcohol. At other sporting events a cold beer isn't a problem. When I think fighting and sports, other than Boxing or MMA, hockey is the one sport where you'd think you have a problem. According to FIFA.com the organizer and promoter of the World Cup, not even on their website shows or links, mentions anything about Budweiser as a supporter. Why then would AB want to spend what I am sure would be hefty price tag for the relationship?
Everything on FIFA.com's website promotes a healthy happy world. Apparently, what happens when people drink at a soccer match contradicts the image they want to promote, but happy to take the cash.
Go Netherlands! And, I'd prefer an Amstel Light.
I stand corrected, the Budweiser Bill reported by John Oliver explains the lift on the alcohol ban.