Three end users explain why and how they acquired their domain names.
Many domain name investors have difficulty getting into the heads of domain name buyers. They don’t fully understand where they are coming from, and this makes it hard to negotiate and price domains.
I connected with three end users to hear their stories. Each is slightly different. Let’s dig in.
SquidVision.com: A lease-to-own story
When we started SquidVision, we initially were going to use the domain name SeerMetrics.com, but we were worried it wouldn’t be memorable enough. So, we decided to see what .com domain names were on the open market. We eventually settled on SquidVision.com, which we acquired through HugeDomains.com. We ended up paying over $2,200 for the domain, but we were okay with spending that much, especially since HugeDomains allowed us to make eight monthly installments to pay it off.
Adam White, Founder, SquidVision
Andrew’s take: Yes, $2,000 is a lot for many startups. Especially when they’re used to paying $15 or so for a domain name. This shows how lease-to-own can help close a deal.
SeoWorks.com: “Upgrading” after starting with a ccTLD
About 2-3 years ago, we purchased seoworks.com to expand our international presence. Our existing domain, seoworks.co.uk, was UK-focused, and acquiring the new .com domain enabled us to target a broader international audience for our digital growth services.
The acquisition process involved direct negotiations with the previous owner, who we had previous engagements with. As he was winding down his business, he reached out to us to inquire if we were interested in purchasing the domain. After negotiations, we settled on a price of around $15,000 for the domain name and some associated assets. The transfer process was quite smooth, with the funds held in escrow until both parties confirmed that all agreed-upon elements had been transferred.
Ben Foster, CEO, The SEO Works
Andrew’s take: One of the most common domain upgrade types is when a company starts on a country code domain and buys the .com domain.
ExplodingIdeas.com: End users in expired domain auctions
We bought ExplodingIdeas.com on GoDaddy Auctions for $2,100 this past July. I knew getting the perfect name was key for branding our startup, which helps teams ideate and brainstorm better.
When I saw ExplodingIdeas listed for auction, I jumped on it—the name totally fits our explosive approach. We did get into a bit of a bidding war but landed at what I still think was a fair price, all things considered.
Sure, two grand may sound steep to some, but for us, owning such a killer name out of the gate gives instant credibility and memorability. That kind of brand boost is worth every penny, as far as I’m concerned. So far, the domain has already proven itself in attracting customers and talent. Money well spent, in my book!
Eric Lam, Founder, Exploding Ideas
Andrew’s take: Do end users bid in expired domain auctions? Apparently so, although it takes a savvy end user.
Post link: 3 end user domain buyers tell their stories
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