TRANSCRIPT: Monday Domains – EP10
All right. Welcome everyone to Monday domains. Um, welcome to domain club on Monday domains. I try to cover the news of the week. I try to keep you updated on different deals and specials that I know about, and also do some. Basic domain knowledge, uh, over the course of a year. Uh, and then talk about what’s going on in clubhouse.
And so Monday domains is kind of our weekly show. You’re on domain club and we’ve been doing it since last March, uh, for a while it was Monday night domains, and now it’s Monday domains and it’s 11:00 AM each Monday morning. And I realized everyone’s still getting back to work on Monday morning. But what I’m hoping is at the same time that if you had a big office and you might have a squawk box or a bullpen or a sales meeting or something like that, that for a lot of us that work for us, You really don’t have that, uh, that bullpen or, or, you know, general meeting of all the sales reps or our organizational meeting on Monday.
Um, I think it’s good to have a weekend. Most people in the business world get a weekend off and then they come back to work back in the days, but we would all be in an office. And, uh, but even before the pandemic where everybody worked remotely, if you’re a domain name investor, you don’t know the weekend, um, you might take a break from doing development or contacting end-users.
Although as, as Bruce has shared, sometimes you can do some terrific outbound email marketing on the weekend, but most of the time for a domain name investor, the weekends, just like any other day, if you’re buying names on a drop, if you’re buying names and an expired name on. If you’re placing back orders, that’s going to happen every day.
And you only get a break about once every four years when there’s a leap year. Um, so really that’s going to happen every day. And I always thought that for companies in the domain space, that they should realize it’s a virtual business and it is kind of a turnoff for me where companies aren’t staffed on the weekend, especially if they’re in the drop game or the expired auction game or something like that, because there are certainly expected to, they want to take our money on the weekends.
They want us to buy domains on the weekends. Uh, we can get offers from potential buyers on the weekends. Um, we could have names submitted to brokers on the weekends, so. Even though it might be a burden for a company to ask their employees to work on the weekends. If the company expects me to still patronize them or paid, paid per niche, give them patronage, use their services on the weekends then yes, I do think companies in the domain space, especially in the expired should have a little bit higher bar.
So I want to welcome to everyone. Listening to Monday domains live here on clubhouse, and those that are listening either to the replay or to the recording. Uh, we’ll be putting these shows up each week on domain firstname.lastname@example.org. And you may also be listening to it on clubhouses new feature, which is kind of turns every clubhouse talk into a podcast.
And what that means is I can give people a link that’s called listen only. And you might be listening to this clubhouse podcast. Of my talk called Monday domains without ever having to download the clubhouse app. And if you are welcome, and I think that this is something that clubhouse was, uh, launched with great fanfare, uh, in 2020, uh, at the beginning of 2021, the digital marketing space really came together on clubhouse.
The domain investing space was one of a number of niches, uh, that, that, that grew on clubhouse. And then when clubhouse, maybe wasn’t the paradigm shifting platform that was going to overtake all others. You may have scaled back. You may not be on clubhouse. But I’d like to welcome you back at least to domain club.
Um, on domain club, on clubhouse, we have, uh, at least three talks a week plus a number of social sessions. We’re also affiliated with start-up club, which is the largest club on clubhouse with hundreds of thousands of members. And I think that even though you might be using Twitter spaces or all the other platforms out there, I think it’d be good to stay in touch with clubhouse.
I think the things you may have missed in the past six months are replaced. Where, if you have a favorite talk, if you have a topic that you can search, you can see the last couple of days talks and you might be able to listen to a replay. I think you can also do snippets, which allows you to, when you hear something on clubhouse and say, man, I’d like to share that with somebody or man, I really think that was insightful.
Just like you might notate something in a blog, you can now hit the snippet button as you’re listening to it, which is the little scissors and you can cut out a 15 or 32nd audio clip. And so I think, I think that’s, that’s, what’s going on. The other thing that we can do now, and you’ll see here in a second is I can pin different links now to my clubhouse wall.
So those of you that are listening, you may also be watching, although your screen could be doing something else, but if you are looking at the clubhouse screen, it used to be, you just see everybody’s profile picture. And now what you’ll see here in a second, if I can do it correctly, is I’ll have a link up there of an article that I’m going to talk about today.
And, um, so I think clubhouse has evolved a little bit. And if you’re, if you’re listening to this on a clubhouse, listen, um, you know, might be worth installing the latest version of the app. Now there’s been some negatives too. I think clubhouse, um, When I first started, it was easy for me to connect with a domain investor community because it seemed like I would, the system was better at showing me the rooms that I’d most likely want to be in.
When I, when I first logged into the app and that’s gotten a little crowded and there’s a little tougher, I can’t look at all my friends necessarily and see where they are do that. I have to get used to. Swiping left, so to speak and swiping, right? Because if you think about the clubhouse menu on the app, um, it’s done by sometimes moving your whole screen left, to see where all your connections are or, uh, your whole screen, right.
Maybe to see other different things. So besides up or down, I have to remember left or right. I’m not a frequent app user. I know that’s probably intuitive for a lot of you that use apps. I’m still kind of a desktop browser person. Um, But anyway, if that helps anybody, when you’re trying to wonder how to connect with where everybody is, so to speak, I always want to be supportive of the other domain investor rooms, and I give everyone a chance, usually at the end of the show to talk about what rooms they’re doing.
And I think there are some terrific rooms on clubhouse. If you’re listening to this because we’ve reached out and done some publicity for this talk and you’re in the domain space. Um, if you own a domain name, that’s one of the groups I like to reach. If you own and manage a domain name for your company or as part of your job, I think you owe it to yourself to be up to speed on what’s going on in domain names and especially some illegal aspects of domain names.
And there’s a great, uh, domain legal room that happens every week on Tuesday. I think if you, um, invest in higher quality, bigger names, maybe 50,000 and above all the way up to 10 million, we have a room on Wednesday called million dollar domains where we talk less about hand registering and expired auctions and more about what’s happening in this world of million dollar domains.
We talked about outbounding on Tuesdays, and there’s another group that meets on Wednesday night. If you’re new to domain investing and you’re like, boy, this guy sounds like he knows what he’s doing. I don’t want to ask him a dumb question for one. Please do, especially on Monday domains, but to Jeff Brooks and Todd, they have a great room on Thursdays where they it’s been their core mission at the beginning to be.
Accommodating to first-time investors. And if you raise your hand to be a speaker, which is kind of the way it works on clubhouse and at different times during the talk, I’ll be sharing something that I’ve prepared. And at different times, I’ll, I’ll ask people that have asked to be a speaker. And I’ll say, hi, how are you?
Welcome to Monday domains or in the case of another room, they’ll say, hi, welcome. Tell us a little bit about yourself. And especially if you’re a new investor in domaining. I think the Thursday room would be great for you. There’s a great swapping room on the weekend where people trade domains and I say trade domains, they don’t really do one-on-one trades, but people offer up names they’re selling in their profile.
And so anyway, if you’re listening to this and you’ve kind of not been on clubhouse for awhile, uh I’d hope you’d, um, you know, consider that there’s a broad group of activities. There’s usually a chat going on sometime during the day about domains or domain club or, or domaining group or something like that.
And then there’s some special events where people will have interviews or Rick Schwartz will do a room about once a month. Uh, kind of an ask me anything about his experience in the domain space. So anyway, welcome to Monday domains. I think it’s kind of the second week of the year. And it’s a holiday here in the us.
There’s snow on the ground for most of the country last week seemed weird, I guess, because COVID was starting to become more of an issue. I guess I almost feel in some ways, like I’m starting the year right now, two weeks into January, and most of us are used to having a conference right now, which is a great time to set your agenda for the rest of the year at need was something in February.
So if you have any thoughts on that, um, let me know. But one of the things I want to talk about today was a general change in the mood, in my opinion of the world, the entire world, Towards domains and domain investing. And what I mean by that is in the last month I read two articles that popped up on my phone.
And if many of you have a Google Android phone, you get by default kind of a discovery newsfeed, where they tell by what you’re searching, what stories you might be interested in. And at the same time, I was just at one of my utilities paying my bill and I saw an article, um, about domains. And I thought it was kind of, it was kind of amazing.
So I ran across these two articles here recently. And what has really, I guess, been affirming for me for is for 20 years, I’ve tried to convince people that domain investing and buying premium domain names was no different than people that bought investments in stocks or real estate or something like that.
That the best investments have a lot of demands. The best investments have a lot of investors and the prices are high. You can’t go and buy apple stock and say, I’d like to pay the IPO price from 1991. You can’t go buy Microsoft stock or Tesla stock and say, yeah, I finally I’m ready to really buy into Tesla.
I really think the Ceylon Musk has got something going on and electric vehicles, you know, they’re really, their time is now. I really believe in them. So I would like to invest in Tesla and I would like to buy it at the IPO price of $2 a share. And you email Elon Musk and say, here’s my $200. I’d like a hundred shares.
And of course, he’s going to say our stock transfer $1,400 a share you say. Yeah. Yeah. But I just decided that I wanted it. And so I should be able to get. At the IPO price? Well, I think that’s what a lot of people think about domain names is because after 25 years, they finally decided that they need an online presence that they own.
That’s not Google or Facebook or Twitter. That’s not controlled by Google control, by Facebook control, by Amazon controlled, by alphabet, they went their own unique presence where they can send their customers to, because they’re having to advertise. They’re having to advertise online. They’re having to pay Google and Facebook to advertise.
So as long as you’re paying to advertise, why send people to a Google page or a Google my business or something like that, or a Facebook page where they own your customer, they own the data. And you finally realized I want to have my own website. I’m just going to forward it to a site that I already have, but I want a better name, just like on like to drive a better car.
I’d like to live in a better house. I like my business to have a good physical location. I’d like to have a nice brochure. I like to have a good sales strategy. I like to present myself well, you know what? I want to do that in the domain name also, or I’m starting a company and I need some credibility at the beginning.
People haven’t heard of my company. They haven’t even heard my pitch for my presentation. And there’s no guarantee when I tell them the name of my company that they’re always going to say, Hey, tell me more. So I think a good domain name can have people develop a first impression of your company before you even tell them what you’re doing simply by telling them your name or giving them your email address or having them ceilings.
So you’ve just decided that something that you want and you want to go back and buy it for $9. As if it hadn’t been discovered or it hadn’t been minted or it hadn’t been originated. And what I mean by that is it hadn’t been introduced into the DNS system. And somebody also thought of that name and bought it either for investment or to run a company.
5 10, 15, 20, 25 years ago. You can’t go back and say, I’d like to turn back the clock and buy it for that price. And a lot of us that sell domain names, we have people inquire about them and we quote back a price and it may be 2000 or 10,000 or 30,000 or a hundred thousand. And of course, if we constantly quoted prices that no one ever paid, we would go out of business.
So for those people that are listening to this show about domains and for those people in doing business, you can say to somebody, listen, I’m quoting you this price because it’s what I’d like to get for the domain name. But I don’t do this Willy nilly every day. There’s hundreds of thousands, if not millions of domain names being sold.
So we’ve always thought that in the domain name space, but what about everybody else? Everybody else is still thought all domain investors are cyber score. Cybersquatter Cybersquatter Cybersquatter and most articles about domain investors, even lately, if they started off with something, they always had to use that word Cybersquatter somewhere.
They always had to use the word Cybersquatter, um, or something like that. And I think what’s interesting is just recently I saw a couple of examples where domain investing is, um, hold on a second. I’m going to get this link ready, where domain investing has been looked at from kind of a common sense point of view.
And imagine what domain investing might look like to someone who doesn’t have a 20 year history who doesn’t remember the bubble in 2000 and 2001 who doesn’t remember. You know, when, when there wasn’t apps and people use the browser a lot. Um, and, and what would it look like to someone looking at a new, uh, in domain investing?
So I want to share with you guys an article I came across, there’s two of them I would talk about today. One is from network solutions and, and they are a broker. Uh, they are big registrar in the domain space. They’re one of the original, uh, registrars. Um, but they’re also different in that prior to their there being multiple registrars network solutions was the only registrar they were, they had a monopoly, not only on.
Registry of domain names, but also selling it. And they would charge $35 a year for two years, plus a set up fee. So it would cost you 70 or $105 sometimes to get a domain name. And when the us government kind of wanted to set up a, a Congress kind of like a world Congress to run the domain name space, um, which became known as I can.
One of the first things they did do was they wanted to bring about competition. And the reason they wanted to bring about competition quite frankly, was that so many people missed getting this monopoly that the government gave out and they, and they wanted to be able to make money in the domain space.
And so competition was introduced, but network solutions was, was one of the original registrars of not the original one. And even in the last 15 or 20 years, they’ve been focused on people registering new names and the premium domain business, or the aftermarket and domains has kind of been a sideline, but they had an article recently that they published about domain names and about domain name investing.
And I wanted to provide a link to that. Let me see if I can get my Link’s not working right now. It’s
all right. I got it. So they published an article called, uh, a guide to premium domain names. And this was published by the network solutions team on December 15th, uh, 2021, so last year, but a lot of people might’ve already been shut down for the holidays. And let me, uh, let me get this link.
But what I thought was interesting was even inside of our domain space, uh, premium domains have been looked on not as maybe being a real part of the business, but now you have GoDaddy who says the premium domain names, makeup a quarter or a third of their revenue or something like that. And, and, and multiple percentages of their profits.
And so it’s meaningful. So I think we can take some more pride and certainty and not be defensive about our business. There’s no reason that domain investing in premium domain investing shouldn’t be considered on par with investing in real estate where the original builder of the real estate has sold it based upon supply and demand.
And I, and I think if we’re you, aren’t the ones that are going to at least share that. Um, let’s if we, aren’t going to share that then really, who else is all right, I’m now going to pin a link. So, so those of you that can see your screen, you should be able to see, uh, network solutions blog. And if anyone can back channel me and let me know if that article is coming up, it should, it should be, um,
all right. A guide to premium domain name. So what was interesting about this is it starts with the question, what is a premium domain name?
And I think inside the space, we’ve argued about premium domain names and, um, What does that mean? And I think inside the space it’s become confusing because for many of us, a premium domain name has meant with the new TLDs that have been introduced a domain name with a high annual fee or a domain name where you had to pay.
Much higher than the regular renewal, the regular fee for a domain name, because it was considered premium. So for instance, if you want to buy a domain name in.xyz and somebody owned metaverse.xyz, and they let that domain name drop, the registry would capture that name and then they would reprice it. So it would still be released like any other name, but they would attach a high premium price, maybe $10,000 to that name.
And the registries can do this as long as they keep the names in different tiers. T I E R. And they can move names among tiers at different times, and they can change the pricing of entire tiers, um, with more flexibility. Um, and I think that they could also have tears. T I E R where you pay a high one-time price or sometimes a high one-time price and a price thereafter.
So for those of us in the business, that’s what we’ve kind of learned premium domains are, but we also have used the word premium domain names to mean domain names sold on the aftermarket. And this article says, what is a premium domain name? According from the network solutions blog here. It’s a question that you might ask if you’re planning a website or rebranding your business.
Now think about it. I know you guys are going to laugh because I’m a big Homer for domain names. And if you’re listening to this and you’re not used to hearing me on clubhouse, you might say, oh my gosh, I can’t believe you’re saying that. Why are you so excited about this one article? The reason I’m excited about this article is because it’s the type of article that you might see on medium or some of the other content networks, and then something that we can link to and copy.
And I think it could have wide viewership, not from people that we’re we control, but from the real world, the hundreds of millions of people out there. And they’re starting off saying what is a premium domain name? And I love it that the first sentence is it’s a question you might ask if you’re planning a website or rebranding your business and think about it.
It’s the assumption that if you’re starting a website or planning your business, that you are by default, probably looking for a good name and you may not be looking for one that you have to think up what we call a hand registration, domain name. And I would say almost every other article in the domain space in the last 25 years has started with go to our registrar type in the name you want and see if it’s available.
And I think it’s just refreshing for me now that we’re in the year 2022, that an article is starting with the idea that you want a premium domain name. You want the best domain name that you can get. Um, And it’s funny, they start the article. What’s a question you might ask if you’re planning a website and perhaps the question you ask Google just now.
And what’s interesting about that is look at how the contents being created. Now, the, the, the title is a guide to premium domain names. And what they’re hoping to be is an answer to a question. What is a premium domain name? Because Google is starting to put questions like what is a premium domain name above the organic search results in google.com.
What they’re basically saying is we think you might be looking to answer a question and they’re going to steal some of the content from this blog post to let you answer that question without leaving Google, or you may go to the article to get more answers to your question. So right now, I think this article because of network solutions, long history of being a valuable website and probably having great credibility, um, this is going to get some traction.
And so, um, they say we’re going to explore what you need to know about premium domain names. And we always want to jump to price, but this article starts around with stick around as we discuss what premium names are and how to secure one or many. So we’ve always thought when we started domain business, that we want to get lots of domains related to that business.
And now we have an article, a generic domain name article that even at the very beginning is introducing the concept of owning one or many domain names for your website. So again, it’s a well-written article. They still know that they have to hook the viewer in. And they’re saying we’re dissecting what makes premium domain names.
So desirable that you’d want to invest in them in the first place that was thought about this as not just invest like an investor for resale speculation, but as a business person or a nonprofit, you want to invest your resources and things that can benefit your company. So think about that question.
And then think about when they made this article. They’ve probably contracted with someone to write it. It’s very well done. And think about saying, you know, I’m going to start using the words of this articles using. When I talk about someone that wants to buy a domain name, maybe I need to talk about that they are going to invest in a domain name.
And I use this when I give people a quote on a domain name. I always usually say to them, I say your investment is in year one. I don’t say your purchase price or your. You know what you pay me? I say your investment. Cause what I’m trying to equate to them is they’re investing money. Thousands of dollars, if not more.
And that they’re getting something back in return for the money. It’s not that they’re spending their money and it’s gone. They’re simply replacing their money with something of equal or I think greater value. So I think the fact that they talked about investment is good. And then they say, we’ll talk about different use cases to understand what you can do with premium names.
And then we’ll talk about the domain name, aftermarket to learn what role premiums Dade there. This post is a must read. If you’re launching an online business, if you’re responsible for brand protection, if you’re interested in growing your online reputation, if you’re looking to make long-term investments in your business, If you’re rebranding your business, if you’re looking to improve your site’s SEO, or if you’re interested in learning more about the domain name industry.
So many of you are probably saying gray. I came to a clubhouse talk and pages, just reading an article, but I think they’ve really put together. In my opinion, from an outsider perspective, a desirable way to talk about the domain name industry and for even me, right? I’ve been in it so long. I can sometimes lose the forest for the trees.
I can start talking about some esoteric specific of brand name, registration protection, and getting multiple CCT LDS based upon an expired name. And I think that it was great to read kind of a top down article. That was a reset. So I would encourage you to read this article one, to help you organize your thoughts when you have to give a one minute or a five minute or 10 minute presentation about domain names in a sales setting, or a meetup or a networking conference, if you own a domain.
If you’re a business interested in getting a better domain name, I think this is a terrific article for you to organize. What are some of the things that you should be thinking about? Why do you want a good name? Um, and they start off with some great FAQ’s and I want you to hear if you’ve been in the domain space for a long time, the basic nature of the topics they’re covering.
And I don’t think they’d be covering these basic questions unless those questions were out there. And you got to remember network solutions as part of web.com or whatever their new name is. They’re handling thousands of customer inquiries per day, and they probably do have a good sense of what people are asking about domain names and what people are asking about premium domain.
So think about these questions and when you’re trying to have a longer discussion, maybe if you’re a domain investor with a prospect about a premium domain name and you don’t want it to just be about name and price. And we talked about this and outbounding club, you want to build the relationship. You want to try to develop a sense and outbounding where you have a horizontal relationship with another business person.
And it’s not just, what’s the price, what’s the price, what’s the price. And I think this can give you some ways to lead the discussion. Well, you can say, listen, before we talk about price, I just want to go over a couple of basics and they may say, no, just give me the price. And you’ll say, I know, I know I’m the same way.
I’m the same way. You know, you have to be familiar with them as a customer, but just listen to these basic questions and ask yourself, do you really cover this? Um, do premium domain names function the same as a regular or primary registration domain name. Now, most of us that have been around the domain business will say, of course, that’s a stupid question.
Of course they do. But realize that not everybody may think that they may think that if they go by a name today from Namecheap or GoDaddy. Or another registrar, um, or if they go to Squarespace or Weebly and as part of the process of building website, they buy a domain name, or if they go to their hosting company, most of the time they buy the name and it’s already ready to go and they’re being asked, what do you want to do with the name?
And they may wonder, well, what happens if I buy a domain name from a third person? Is it the same as if I just would’ve registered it myself? And we know it is, but I think we want to be able to point to a question and answer like this and say, yes, they do functionally premium domain names and primary registration, domain names are the same.
And again, I know I’m seeing way too overexcited about this article, but just think about the value of that one sentence. Permeating 10 20. 30% of the domain name and a possible owners of the country in the world that yes, functionally premium domain names and primary registration domain names are the same.
So if you’re sitting there wondering if you buy a new domain name, when you buy it from a third party, is it going to function the same as the domain name that you registered? And you, you were the, you were the primary registered or the originator of that domain name. And the answer is yes. And then they give a little review here.
Domain names, save us from typing him strings in there. Then the next question is have all premium names been used for paps past websites. So that’s a good question. People may be wondering if they buy a domain name hasn’t been used before and network solutions in their posts. They say not necessarily, sometimes people buy them and don’t doing anything with them.
On the other hand, sometimes they can have a rich history and they talk about a history can be good if it has a lot of traffic and existing links or history can be bad. If it’s ever been on a black list or used for spam, or you need to clean up its search history, then they hit the elephant in the room.
What’s the difference between investing in premium domain names and domain names, squatting, and most customers that we talked to who just want to get a good price on a domain name? Say there is no difference. Anyone who owns a domain name that I want right now and they own it. They’re squatting. I just decided I want to do.
I think we’ve all talked with men and women out there who have that sense that they’ve just thought of a business. They’ve just thought of, wouldn’t it be great to have a domain name and exact domain name that they have on their mind for that business. And then they find out it’s taken and their first thought is something’s wrong.
It should, I should get it. I should get it. But I think articles like this are going to help us, as we simply say it shouldn’t be a surprise to anyone that yes, you can have everything you want. You can have a stocks at their IPO price. You can’t have real estate at the same price that it was sold to the public at when the land was plotted and zoned a hundred years ago.
And yet. Not all premium domain names, um, are owned by people that are domain name squatting and network solutions has a nice little interjectory here. They say, it’s a fair question. And a good one too. And I think we should take on this question as a fair question and a good one too, but here’s where I think that the article has changed.
And I think the more it gets out there, the more that we’re going to feel like domain name investing might one day have the future. We all intended domain investors. Once article says domain investors, purchase domain names to make a profit off them. So for those of you that are just jumping in, I’m going through an article that was done last month, uh, on network solutions called a guide to premium domain names.
And I think it’s a great reset for how domain investing and the ownership or premium domain names should be thought of. Right. Not 20 years ago, not 10 years ago, not five years ago, not 30 years ago, but right now, and I think it’s a reset that gives more respect and credibility to domain names, to premium domain names and to premium domain name investors.
And I think the more that we can use this, whether we make presentations to social groups or business groups, or we link to it at different times, I think it’s going to help us. And so just think about, instead of calling a cybersquatters, this article is saying domain investors purchased domain names to make a profit off of them.
That was that really a surprise. Should it really be a surprise that every business person is probably out there to make a profit, if not an economic profit to use something good for the environment or the. And this article says domain name investors. They look for domain names with potential brandable names that someone would want in the future, or they purchase names that might there’ll be likely to get traffic and monetize them by creating landing pages.
However, they don’t engage in the various practices like registering trademark names or typos of trademark names, those practices reek of Cybersquatting. So we finally separated at least in this article, domain investing from Cybersquatting. And most of you listening this article, unless you’ve got some.
IP address that you can hide behind you live in a foreign country. You don’t have assets that can be attached. You have a lawyer on, on, on speed dial and retainer that can handle responses, or you’re willing to take the risk. Most of us that invest in domain names, aren’t, cybersquatters, we’re simply looking to speculate on domain names.
That would be great to build websites. And I think it was just great to kind of see in this article that laid out there at the beginning. And then let’s talk about the other bugaboo in the room. The other elephant in the room, dude, premium domain names cost more than the average domain. Yes they do. And then this article is bringing to the point.
But only the first time you purchase and register them. So this is what I like to share with people when I post them a price of a domain name that yes, you’re going to have to pay two to five to 10,000 or up to a million or 10 million. But once you own the name, the cost to carry a.com domain name at least is only about 10 to $12 a day.
And it might be 20, or it might be 30 and it can go up 7% a year. But in general, your big investment is in year one only now. And some of the new TLDs and some of the ccTLDs, there are high premium renewal fees. And I would encourage people to be aware of that, especially when you’re getting a deal. That seems too good to be true.
If you’re being offered a domain name, like money.app, and you’re being offered that name for $300 when it’s probably worth 30,000, be aware that money, that app might have a premium renewal fee of $10,000 a year. So someone might be selling you the right to own that name, but the right to own that name also comes with an annual bill of $10,000 a year.
Now it still may be worth it to you to buy it and pay the annual renewal. But be aware in certain of the non-com domain names that they might have high premium renewal fees and the best way to find out if that’s the case is to go to a registrar and try to try act like you’re trying to transfer that name to yourself.
Act like you own it. And a lot of registrars, you can put the name in. And it’ll give you, it’ll put it in the shopping cart, even if it says you can’t transfer it without the code. And when they put it in the shopping cart, you’ll be able to see what price they charge for a renewal, because the transfer domain name, you pay the one-year renewal.
So if I wanted to buy money.app and I wanted to transfer it to my own registrar, I would see that it costs $10,000 to transfer the domain name. And that would give me an extra year. But anyway, back to the, um, back to the idea of this article, do premium names cost more than the average name? The response here is yes, they do, but only the first time you up.
Um, and then they say premium domain names are more valuable than the average domain name. That being the case, they cost more. And I wouldn’t dig down on this statement. Premium domain names are more valuable than the average domain. And you guys have heard me say it, you know, thousands of now, hundreds of times, I’ll, I’ll be realistic.
Hundreds of times that there’s 150 million.com domain names out there. And most of us, we don’t just own an average domain name, a name that would rank number 75 million. Okay. In other words, you could have the 75 million best or worse. However you want to say it. Your domain name could rank where it was the 75 million domain name.
And that would be the mean, or the median domain name because there’s 150 million. Think about that? Think about you look at a list of domain names. It has 75 million a month, and you’re your has 150 million on it. And the name you’re buying is in the middle at 75 million that’s average. So if you think that most domain investors are investing in names to represent the top one or 2%, is it not a surprise that even names in the top 2% of domain names should carry a five figure or high forefinger price tag now?
It’s just, we haven’t got this flushed out there in the real world yet. And hopefully articles like this or this, or start. So I just wanted to go over this article today and I wanted to have it set the table for a new way to talk about domain names where we don’t apologize. We’re not defensive. We recognize that.
Yes. We’re asking a higher price that yes, other people have used Cybersquatting techniques to try to profit off domain names, but that’s not the biggest part of the market and the market. That’s selling hundreds of thousands, if not millions of dollars domain names. So then we get to the last question.
What’s the difference between an aftermarket domain name and a premium domain? And you say, well, that’s obvious. Everyone should know. Well, no, let’s just flush it out. And aftermarket domain name or secondary market domain is the domain that’s already been rented. By that definition, almost all premium domain names are aftermarket domain names.
Then they say, however, not all aftermarket names are valuable. So networks solutions, isn’t doing this for free. They’ve got a search here where people can search for domains. And if I type in a keyword like golf, I’m going to be presented with a golf.com is not available. And they’re going to show me some solutions.
And what’s great about this is network solutions is an afternoon partner. And what that means is when you list your domains on afternoon. And if you’re with a registrar with those names, that is a DLS partner, meaning that they can fulfill a fast transfer. Meaning that means that network solutions can sell after this great article, your premium domain name for say $8,000.
And that domain name will be delivered to that customer at network solutions immediately, or if not immediately, at least in a very simple process, it’ll come out of the registrar account where you hold it. Now go, daddy will collect the money or after Nick, which is owned by GoDaddy will collect the money from network solutions.
Network solutions will have conducted the money from the customer. Um, networks solutions will get paid a fee for selling that premium domain name. After Nick will get paid a fee for being the inner Prairie. And then the owner of the domain name will get paid. The rest of the proceeds and that aftermarket exchange is where a lot of premium domain names are sold.
And what I’m going to talk about every week. This year, hopefully is innovation in this exact space. Can we get more intermediary? To connect owners of domain names with people looking for domain names, can we get new and better techniques and search artificial intelligence to get people to find the best name within their budget?
That’s what I would love to see. I would love to see a website. You say, what is your website do? And these are the words I want to hear. We connect people, looking for premium domain names, with the best name for them in their budget. And if we could give buyers a sense that they could use a web. That would have access to most of the available domain names and that they would be led along a pathway where they could find the best domain name within their budget.
I think we’ll have more transactions because if find knew as a buyer that I was on a website or I was on an app, or I was on a multi-verse, if I was on something where I had a comfort level that I was being presented with all the options in my price range, for the type of name that I wanted, I would be more comfortable to pull the trigger because it would be like wanting to buy a used car.
And knowing that you had looked at every used car in your price range with the things that you wanted. And if you found the best, one of that list, you wouldn’t have to wonder, oh, I better keep searching. There’s probably another one out there. Or what if I could find another one or I wish I could get a better one for this price.
The more that we can connect with people and show them that they have adequately searched to get the best domain name. I think we’ll have more activity now. It may not benefit us all. We may benefit now for the fact that people might just think of our name and pay for it without any competition for any other names.
And that may be good for us right now. It may be bad to have people have more selection, but I think overall it’ll help the industry. So anyway, I know I’m enthused about this article and it’s just an article and there’s probably been articles written just as good over the past five and 10 years. But I think the idea that they’ve introduced that premium domain names are.
Just as valuable as the primary market. And then they introduce premium domain name, characteristics, qualities of a premium domain name, short contains relevant keywords is in a widely recognized. TLD might have some authority as an old name with links might have some traffic history and might be brandable.
So yes, we can now use some of this language to tell customers and link them to an article that says that a brandable domain name. This is how they reference. It is easier when your domain name is memorable and recognizable going forward from now. If we promote this article and it gets the type of reach, I think it’s going to get within Google.
It’s going to get widely known by more and more people that building a brand is easier when your domain name is memorable and recognizable. And furthermore, if you’re a domain investor looking to sell brandable domain names, listen to this sentence, a brandable domain name demands a higher price because it’s a great advantage to have in a competitive and crowded market.
Now, 15 years ago, we love the fact that we could sell domain names based upon Google pre Panda, where they would value a domain name keyword, and they would propel you high up in the search rankings. And when we lost that, I think for a lot of us, we lost the slam dunk clothes that we used to have. So now we can talk about a keyword domain name might have value, but then it might not even be indexed.
But if we talk about the strongest part of the market in the last five years, brandable domain names, we’ve got two sentences that we can repeat over and over from this article. And again, when I say from this article, what I feel like I’m saying is from someone who took a current look at the marketplace and assessed it and came up with this conclusion qualities of a premium domain name, short, relevant keywords, widely recognized TLD might have authority, might have traffic and then brandable.
And just think if you could start using these two sentences, a brandable domain name, oh, building a brand is easier when your domain name is memorable and recognizing.
You can even do it in the form of a question customer. Do you think it’s going to be easier to build your brand with when your dome, if your domain name is memorable and recognizable and they may say, no, it doesn’t matter. And in that case, you may not have a prospect. If they’re like, Hey, we just raised 50 million of venture capital.
We can pay as much as we want to build our brand. Great. May not need it. Now, you might’ve been able to raise it at a higher valuation if you had a better name, but Hey that’s okay. Secondly, a brandable domain name demands a higher price because it’s a great advantage to have in competitive and crowded markets.
So you can say to a customer, listen, if the domain name space was such that all the names cost the same amount and a bad name and a good name of the same, you probably wouldn’t be able to get any good. They be taking an note, whatever, sell them. At least you can buy a better name by simply paying a higher price.
And if you’re good at your business and I expect you want to be good at your business and you can make a lot of money at your business, then you’re the one that wants to pay the most money to get the best name, to be more successful in your business. So anyway, then they talk about in this article where to purchase a domain name, Morgan Linton gives some good tips on reaching out to somebody.
If you, if someone wants a premium domain name that isn’t available on the aftermarket, um, and they talk about their, their broker service. But anyway, I just wanted to share with everyone this article, because I think as a reset on what premium domains are in 2021, I think it gives us a lot of vocabulary, a great name to link to, and we can even reorient our thoughts about domain names.
And I know a lot of you came today to want to talk about. Um, partial ownership, a domain names. So I want to answer any questions related to that, but I am going to cover that more on million dollar domains this week. But if you came today and you had a question about that, I do want to answer that. Um, because, because, you know, we’ve been talking about parcelization of domain names, the past three weeks, I’m billion dollar names and part of the last year.
And I want to congratulate Andrew and media options for, for, you know, doing this first, this first deal on a widely, uh, acceptable exchange. And Andrew and I probably talked about this on domain Sherpa shows maybe 10 years ago that we thought this would be it because I have a background in securities and partnerships and reg D offerings, and a lot of this stuff, you know, I expect I’ll be in this business at some point in time.
I want to congratulate, uh, Andrew Roser media options for their rare belonged. They came out on Friday. And if anyone had any comments about the article or about that, I thought I’d handle those now. So happy Monday, everybody and happy new year, I’m going to take a drink of water and see if anyone wants to share.
Uh, we are recording this both as a clubhouse replay, uh, and as kind of a podcast for the listen on clubhouse and a link forward on domain club, but welcome everybody. How’s your Monday. And do you think having an article like this, which I referenced that I’ve pinned it above, helps us with some more phrasing, because I really do feel like, you know, whether they, whoever they hired to do this article say they didn’t know anything about the domain name space.
I think that this person took a pretty good survey. Uh, of what’s out there right now. What didn’t seem to be cluttered by a lot of history, didn’t feel like they had the cover. I can didn’t feel like they had to cover business.com selling for 10 million. I think they just talked about it in a reasonable and rational way.
And I think that this type of article could, could be something that we can all link to when people say, what do you mean I’m having to pay more than a regular name? Because I don’t think this article besides the fact that it does advertise network solutions, maybe someone will use their service to buy a domain name and they won’t buy a name.
You’re trying to sell them. You know, I leave that up to everybody, but anyway, I want to talk to see if anyone had any questions or comments about that article or about shared ownership.
All right. You can either raise your hand to be a speaker and share your question with me, or you can ask it on. What’s called the back channel and that’s by hitting the little paper airplane. Uh, if you hit my profile image, you can hit the paper airplane and send me a message. And, uh, and I probably won’t use your name unless you tell me it’s okay to use your name.
Um, but I think that, you know, I, I’m kind of enthused about this article. I think it’s a good reset for me to tell myself that yes, I’m in an established business. A multimillion dollar business of selling premium domain names. And that yes, premium domain names should cost more than regular domain names.
And yes, each domain name has certain attributes of value. And by going through each of the attributes of value in a domain name with your prospect, or even with looking at your own portfolio, ask yourself, is my name short? Does my name have keywords in it is my name and a widely recognized TLD. Is it brandable?
If I was having a discussion with someone I’m talking to domain investors now, would you be able to say that this name compared to many others would make it more likely that your company will be successful?
And I think that’s what you’re selling. Somebody almost all values. Get back to a simple concept, almost all value of any investment is based upon the present value of future cash flows. Will your domain name produce future cash flow for a business unless it’s simply a collectible where it’s fun to own.
That is the fundamental source valuation for any asset, will it produce future cash flows higher than the cost of the asset? And I think that one of the ways to talk about it when it comes to domain names is say, will your company be more, be more successful with this name? That if you chose another one, uh, Okta, how are you?
Welcome? I’m hope I said your name correctly. Welcome to Monday domains. Thank you page. Can you hear me? Nice to meet you. Thank you for the, um, yeah. Thank you for the introduction. Um, I’m obviously very new to this and I was just hoping I could ask you some questions if that’s okay. Sure. No, I really I’d be glad to thank you, sir.
Um, I’m very new to be a domain space. So I’m actually part of a, um, an e-commerce mastermind with, um, I don’t know if you know, you know, norm for our, um, you may know him. He’s like I’m an e-commerce coach. And when clubhouse was launching, you know, last year when it was all the rage, um, quite a few of us started buying domain names, ending the.club.
Uh, yep. I see him on your brain. Yeah. And I was just wondering, so obviously I’m just saying, I mean, I’m a, my day job, I’m a day trader. So, um, you know, I brought the domains and they kind of just, you know, sit in my account and they’ve not been doing anything. And I understand that you said that, you know, today was about talking about the article and also about, you know, partial domain ownership.
Um, is this the right sort of time for me to get an appraisal for those please, sir? Or would you, well, I think your timing is good. And I think the question that you’re asking yourself today, I might broaden a little bit because it’s something that’s going to affect a lot of people on clubhouse, which is that yes, many investors who learned about domain names last year because of clubhouse started buying dot club’s names.
And I didn’t have a problem with it. I thought the price was right. I think a lot of the names you pay. You probably either paid $2 or $20 or something like that for him. And now you’re coming up on the renewals. So it’s going to be serious, you know, if you bought 30 names and at 20 bucks a piece at 600 bucks, and you’re kind of like, Hey, you know, I, I know that these things are valuable.
I know they’re great. I can totally picture someone buying them from you, but then at the same point to come at it from a day trader where you’re buying and selling assets that have enormous. You know what I mean? And the, and the spread and a share of Tesla, you know, might be 0.03 or something like that.
Uh, and, and, and, you know, you can take advantage of the fact that you have multiple bids and multiple offers and you can arbitrage between exchanges. You know what I mean? And then domaining is, you’ve probably found out, you know, after owning him for a year there’s liquidity in domains is a long, long way from that.
Um, we have a lot of offers to use stock market part things. We have a lot of offers that we have very few places where there’s bids. Um, so you can’t just hit a bid, get out, get your liquidity back. And, uh, is that kind of been your thinking, or have you really looked at domains as the foundation to build businesses on?
Well, I was looking at it from a, um, my sort of rationale behind buying domains that had to do with, you know, betting, um, I bought some stocks. Um, I’m based in the UK. You can probably tell from my accent, um, I brought some stocks that I, you know, to do with, um, betting stocks. And I’ve noticed that in the USA more and more states are opening up, you know, betting and making it legal.
Absolutely. I think, yeah, I think we’re going to get into the world that you’ve lived in for the past hundred years, you know, um, where it’s just a part of life, you know? And, and I remember growing up, hearing people talk about the, uh, the bet that whenever you had a son or a daughter born, that you would, you would, you would go put a quid or something on the fact that they would score the winning goal in the world cup 25 years later or something like that, you know?
And there was all these, yeah. There’s all these crazy prop bets of everything. Yeah. Um, I, there was a gentleman actually who, when his son was born. I think he put a bet on, I think it was one pound or that his son would be a future England goalkeeper. And, uh, it happened and he got paid out. I don’t know how much, but I think a couple of hundred thousand, 20, you know, 20 years later.
But, um, but yeah, my, my, my rationale was, um, obviously those names are there. Um, I was kind of advised their top level domains, but, um, I’ve renewed some of them, a lot of them, I just let expire, but I’ve kept the core ones. And I was just wondering what sort of value in your experience, um, do you think I can achieve for those well to use a bid NASC, which means a wholesale value?
I think if someone inquired about online gaming.club, I think you could just disease. We quote $15,000 as you could 15. Um, and what I mean by that is if someone wants to start a club, a private club or make people feel like they want to be in a club, I think you always have to keep an eye on what your domain name and.com is selling for.
So online betting club.com, you know what I mean? And then tell yourself that yours is better because it’s shorter. And I think the ones that you keep, because you know that there’s, it’s easy. It’s not easy to monetize, but there’s a lot of affiliate options for casinos that aren’t too hard to figure out.
So I would say at a, an a potential value it’s it’s in the high four or five fingers for your name. That’d be great. Sorry. Okay. If somebody who’s going to get in those businesses, your names could, contentionally bring them a lot of value. They’re also going to try to find a lot of other names. For less.
So you have to hope that they can’t find anything as good for less as a, as a whole, as a, as a wholesale value or a bid. You might not be able to sell those names for even 50 or a hundred dollars because there’s simply so many extensions and as good as club is, there might be 20 extensions as good as club.
So someone could be online gaming.site, online gaming.website, online gaming.tech, online gaming.co. But in general, yes, I would keep the best. I would try over time to put some type of affiliate link on. Just to see if you could make, you know, 10 or 20 bucks per customer that came to the site. Um, and I think you’ve done a good job to Cole C U L L the amount the first year and whatever you do decide to keep, I think you could keep for five years, but this is the time where it’s easiest to cut something as opposed to once you paid two or three years for it.
So I think making a good cut now, um, with your two word names makes a lot of sense. Okay. That’s um, yeah, that’s very, very insightful. Thank you page. Yeah. And as I mentioned last week for everyone out there, if you are on clubhouse, you’ve been in the domain rooms and you participated in, in the excitement of learning about domain names and the power of domain names.
And even if it may have meant that, that, that you were, you were buying.club last year, that was. ’cause I think that club is a terrific extension and you could get good domain names and.club. You didn’t have to buy the 150 millions best domain name, and you could picture the power of a domain name. So I think it was a great onboarding way to get people in a domain of vesting.
But I would say to check your registrar, make sure you understand if you’re on what’s called auto renew, because you’re a registrar. When you get to your expiration date and for a lot of you, that’s going to be coming up in the next 10 or 20 days that you don’t all of a sudden renew 40 domain names, that it was easy to buy last year for 40 bucks.
And now it’s going to be 400 or 600 or 800. So I think much like, um, actor, actor. I hope I say that. Right. Has done. Look at your names. Even print them off at a piece of paper and put it down on your desk with nothing else. And look at them and say, which of these names incrementally have the most value.
And then how many of these names can I afford to keep what’s my budget, you know, to keep and pay just like a piece of real estate, a piece of raw land, you might pay property taxes. If you keep more names than you can really afford to keep, you’re going to probably be desperate. You’re going to end up selling your best name for a low amount of money, just to keep a lot of the other ones.
So understand what your budget is for renewals. Pick the best names that fit into that budget and do it before your registrar renews them, or at least take them off auto renew. Most registrars will give you a five or 10 or 15, or maybe even 20 day grace period. Be very careful. If your names have value, your registrar will pro.
From selling that name. If you don’t renew it now that may not be an issue with a lot of.club names. If you bought stuff that you thought was great a year ago, but now you realize this. And, but if you do go past expiration date and you go into, what’s called the grace period, be careful, know the rules of when you can still renew it because you’re thinking about it and then watch out for the auto renews.
So that’s my best advice for those that may have jumped into a bunch of dot clubs. Super, thank you so much, Paige. I appreciate your, um, obviously your advice and your insights. Well, good. And thanks. Uh, thanks for your question. Let’s see, let’s see the meeting now. So I’m going to, I’m going to have to leave now, so I understand.
Well, good. You have one tomorrow as well. You have a, I will have, I have a room about outbound. I’m selling people on your domain names over the phone. And that said five Eastern tomorrow. And then on Wednesday at one USU Eastern time, one in the afternoon, I do a talk called million-dollar domain names where we talked about high value domain.
Super. Okay. I look forward to seeing you then say, oh, sorry. Yep. All right. Well, as we wind down Monday domains, I wanted to give anyone who’s got a room this week, a chance to share both with the NS and anyone else, um, uh, what they’re doing. And I mentioned, uh, some of the rooms that I want to make sure I support.
Um, it’s great to see everybody. It’s great to see some new faces, some faces I haven’t seen in awhile. Uh, one just popped up there. Hello. And, um, at anyway, thanks for coming in to Monday domains. I am going to close down the show here. Unless I see a last minute question or topic, or you weren’t going to raise your hand, but then you decided, oh, I should have, but it doesn’t look like we have a lot of questions.
I’ll leave this link up for this article that I talked about today. If you’re coming in late, I spent most of today talking about an article that was done by network solutions in mid December. I guess the type of articles, the type of modern internet content that could have legs. And I think we should possibly reference, and it takes a reset view in 2021, late 20 20, 1 of the premium domain name and business premium domain name investors, and the premium domain name aftermarket.
And whether you’re going to pick apart some of the things about calling premium domain names premium or not, whether we should call them aftermarket. I think that it’s a new world out there. It’s changing for the better, the perception that yes, something of value that can help your website or company be more successful, should cost more money.
And to the extent that it has more and more aspects of value in it, it should cost more and more money. And the thing for businesses to decide is what’s your budget. How important are the benefits of a name, helping your business be more successful? And are you ready to grow and have your business be more successful?
I think that’s the one thing that you could probably ask that will help you qualify a customer. And we’ll talk more about this on outbounding club tomorrow. They can maybe short circuit, a lot of the discussions you may have later. You may want to ask somebody if they’re a prospect for your domain. Is this name for a new company or company that you’re interested in growing because that’s where a domain name can help.
And I think if the person isn’t interested in growing, they would just like to have it. Then maybe it doesn’t make sense to even go down the journey with them about discovering price and value because they’re really not growing their business or do they want to grow their business. So maybe the best question.
And we’ll talk about this on outbounding club tomorrow, is, is your business growing? Do you want it to grow more? Because that’s the customer you’re looking for someone that wants to invest in growing their business. All right. Well, thanks everybody for coming to Monday domains, I’m going to turn off the room here.
Uh, replay should be available. Uh, follow us at dome, uh, our club here on clubhouse. Sign up for our mailing list on domain.club and a want to wish everybody a successful week. All right, thanks.