I just noticed that Moniker listed our domain name, definitely.com, in the upcoming extended auction from June 20-26, 2008. This is the first time we’ve put the domain in a real domain auction, (I’m not counting our quick test on ebay), and if bids fall short of our reserve we may decide to rethink that number for some post auction negotiations. I encourage all serious buyers to bid.
So here’s an idea for my domain definitely.com, if I keep it. How about a web2.0 review site that lets people post reviews on anything? It would be a simple post and search site with a detail page for each thing reviewed. I could also build a couple little code snippets to make it easier for people to add reviews to their website, their score, etc. Ideally I’d like to start with a big database of reviews. I’ll have to see if someone offers mashable review data. What do you think?
I’m trying to get my domain name DEFINITELY.COM into an auction Moniker.com is putting on in Paris. Seems like the perfect time for an American to try to see a domain name in Europe with the value of the dollar so messed up and our economy so flat. Smart business people in Europe are most certainly exercising this leverage. Why not?
But unfortunately Moniker and I aren’t seeing eye to eye on the whole reserve price thing. They are thinking a low five figure number and I’ve got my eyes on a mid six figure number. I’m probably dreaming but who knows what a word like definitely would sell for? Normal domain name appraisals don’t seem like they would apply to a word like this?
But the whole thing got me thinking and asking myself a simple question? Who would buy it? As a Vice President in Online Marketing at a fortune 100 company I should actually be the right person to ask. Duh. The simple answer that came to me over lunch was… online marketing VPs and domain name speculators. Fortune 100/500 marketing people tend to have large budgets that get spent on large marketing campaigns. So it would seem logical that they would have the most money to spend on a name like this but they would need a reason and they probably don’t buy domains at auction very often. They probably also never buy domain names witout a very specific purpose.
The only time I suspect corporations buy domains at auction are when the really good names go up for sale, like pizza.com did recently. I can only imagine the field of corporate bidders jumping into that auction. Good single word domains, like definitely.com, are probably usually interesting to domain speculators, who probably rarely spend six figures for a domain name. Which leaves me with the following conclusion.
If you have a great domain like pizza.com sell it at auction and alert all the major corporations that might be interested. If you have a decent name like definitely.com don’t sell it at auction if you want top dollar. Instead build a good site for the name that runs itself while you wait to sell it. Then develop some concepts for campaigns that the biggest corporations could run. Use the campaign concepts to sell the idea of a summer marketing campaign (or similar) to corporate marketing people. Don’t spend too much time on it unless you also work to get face to face meetings with these people to pitch the idea. Better to float the ideas and see if anyone bites.
You see I don’t think a name like definitely.com could ever brand a large company, like the way a name like pizza.com could. I think most large companies would use a name like definitely.com for a short (3 to 9 month) marketing campaign. For example imagine a major auto maker or cola company running a marketing campaign using a word like definitely in it’s center slogan and setting up a special website for the campaign. Depending on the strength of the concept this route might get six figures.
In the mean time how about a cool review site at definitely.com? Oh yeah after the other projects on my back burners. LOL