Domain investors must continually test and be willing to change their assumptions.
Many domain investors get into a rut. We do the same thing over and over, week by week.
We find search parameters for expired domains and never change them. We set a pricing strategy and never test it. We make assumptions based on the past and never consider that things change.
Yet, time and time again, we see patterns change. Ways to make money with domains change. People catch trends that are outside the norm and profit from them. Or they try new things and discover new ways to invest.
I recently ran tests to ensure my previous assumptions and bidding strategy hold true today.
For example, when GoDaddy closeouts started at $11, I worked with another domain investor to snipe domains the second they went to closeout. It was very successful.
When GoDaddy increased the first day of closeouts to $50, I decided to wait for domains to go to closeout before thinking about acquiring them. I usually wait until they get to $11 before buying them.
But I miss a lot this way. In recent weeks, I’ve monitored “good domains” that get no bids at GoDaddy Auctions just to see what happens. A surprising number of them never make it to closeouts (at least where you can manually buy them) because people are still sniping them.
I’ve also collected data over time on where domains are getting purchased in the closeout process, such as at the $30 mark or $11 mark.
Based on this data, I think I’ll change my strategy in the future. But I’ll continue to collect data to test my theories.
I’ve also recently started testing more platforms for acquiring fully deleted domains and have been surprised by the results. I was stuck in my old ways and wasn’t testing enough.
If there’s one thing domain investors must continually do, it’s test, test, test.
Post link: Test, test, test, and be willing to change
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