Yes, it must be said that any and all buying advice should be taken and observed the day it is delivered. For what might be true today may not be right tomorrow.
So take it all in stride, analyze and select those items which jibe with your own thoughts. They are merely rumblings from a domain-tinged mind, so take them as you will.
But anyway, here are a few quick tips for buying domains in the modern marketplace…and beyond.
- Ignore Stats
In none of my biggest sales was traffic ever a factor so why should it be when buying? These days traffic does not equate to revenue so it should not be as big a consideration in valuation as before. Besides, I’ve always found my gut to be a better judge.
- Resale
If you’ve been following me at all over the years, you know that I place resale value at the top of the priority list. Never one for misspells, I have always viewed every purchase with a keen eye on the size of the potential buying pool down the road. Which, in many cases, means the more generic the term, the better.
- Don’t Think Development
I know, I know it’s all about development now…blah! I get real tired of domainers who justify purchases by saying, “it’s a great name for development.” Problem is it belittles the hardest part of online business: development. Besides, you really going to develop all your names? Any of them? And I mean really develop? Slapping up a site no longer works and real dev is laborious, expensive, heart-breaking.
- Ignore your “ideas”
Here’s another one. Domainers can talk to you all day about all the ideas they have for this name or that name. And guess what happens? They never develop any of them! Of course, because the next great idea comes along. So if you are one of these domainers, I suggest dropping ‘ideas’ buying and focusing instead on resale value.
- One word
I have one word for you: one word. The more buyers I talk to, the more two and three word domains lose their value. Beyond a few top categories, the market for single-word, generic domains continues to be strong. And growing.
- .Com
Old indeed, this staple may become more true with the advent of hundreds of new extensions. Because the truth is that .com is the only real extension with any standing, clout, recognition, etc. It is the only truly global option, implanted over 20 years into the psyche of the populace. Want to be taken seriously as a business? What would you pick for your own new venture?
- It’s a Good Time to Buy
My recent acquisitions include raking.com, grunge.com, peaks.com and arugula.com. All were bought because they were offered well below even wholesale value.
- Think Mobile
That doesn’t mean you should go rushing to buy ‘mobile’ names. No, it simply means you should shift your thinking about the needs of the marketplace as the world expands into multiple devices and platforms. Means a new way of thinking about the future of the Internet, domains and ecommerce.
In that sense, your purchases should keep an eye on that future – the integration of the web seamlessly into our lives and spaces. What will be some of those future needs? And technologies?
Look back fifteen years and you get an idea of what I mean. Back then we did not have cell phones. Now, we all do.
If the past is prologue, then what has changed and how will it determine the future? These are important buying questions.
For if we are anything, we are the children, the apostles of Marconi and his quest for wireless.
More than 100 years later, that journey is now nearing the completion of its true potential.
So you can either get swept up and away by it or you can ride it to the crest and onto the shore on a golden boogieboard.
Just as Gugliemo intended.
Tags: domain buying tips, domain name buying
