On Monday afternoon, day 2 of NamesCon, I sat in on a discussion about Brandable domain names. The panelist included: the founders of Brandbucket, Namerific, and BrandRoot. It was moderated by Name Ninja’s President, Bill Sweetman. I have to tell you it was quite interesting.
The discussion began with a question most brandable sellers have wondered when they choose a marketplace to list their names. Each platform seemed to have a different idea of what a brandable domain is, thus shining a light on their criterion.
Here is how each answered:
WHAT IS A BRANDABLE DOMAIN NAME:
“Any domain a startup would use to brand themselves.” –Michael Navarini, Namerific.com
“Any name that doesn’t have type-in traffic.” –Margot Bushnaq, BrandBucket.com
“A .com extension easy to pronounce, that is unique in bringing two words together to make something different.” –Michael Radar, Brandroot.com
I think from these responses, one should be able to tell which of their brandable domains belong on which marketplace. If Brandroot caters to buyers who like .coms, then they probably don’t accept other extensions in the way that Brandbucket accepts .ly, .io, and .me.
Another great question from Bill, was rather the use of logos actually mattered with regards to selling brandables? All three platforms have been using logos with their domains since day one. It was suggested that looking at a spreadsheet of names was unattractive and boring and that adding a logo to a name instantly turns that domain into a product. BrandBucket shared that around 60% of their customers ask for the logos, of that 60%, half of them keep the logos and the other half change them or comes back for edits to the original.
Many of us Brandables investors are often puzzled when it comes to deciding how to set our brandables at an attractive price. Bill was able to get a general consensus from all three panelist that $2500 seems to be the magic number. “There is a low end of around $1200 and a high of around $5000,” BrandBucket’s, Margot Bushnaq shared. There are also plenty five figure domains to be found on all of the platforms with an occasional six figure or two mixed in for good measure.
Brandable marketplaces are curated, so it saves an enduser at lot of time when they are looking for a name that will fit their new venture. Browsing through a list of domains that have been hand selected for quality and availability is what the buyers prefer. It is also common for the marketplaces to have repeat customers because of the quality and trust the platform offers with their transactions.
When asked about the future of the Brandables business, all three panelist felt that the business of selling brandable domains is on an upward trajectory. But the crowd was reminded that even though the ROI is great, it’s more of a long term investment. You’re waiting for the right buyer to come along who wants to buy your name. At one point there was even the mention of volume. It is believed that the more names you have listed, the more you increase the odds of one of your brandables being purchased. So if brandable domains is your niche, patience must also be your virtue.