Nothing specific to discuss today – however I wanted to share my thoughts with you on a range of subjects.
There are many things about domaining / domain investing that pop into my mind, so I’ve taken to writing them down!
Would love to hear your thoughts – and any reflections you may have.
Reflection 1
We really need a good aftermarket sales platform here in Australia (specifically for .au domains). The current platforms just don’t tick all the boxes for either sellers or buyers. There definitely needs to be the ability to list at a minimum price; set the increments off bidding; and have the online ability to communicate between buyer and seller (to try and strike a deal).
In my opinion, there is a huge opportunity for whoever who gets this right.
Reflection 2
The level of membership of the auDA is pathetic; and I believe we should look to ways to encourage more domain registrants to join. There are approximately 3 million .au domains – and we have the sum total of 150 members. 121 Demand Class (users); and 29 Supply Class (Registrars / Resellers). (1 member per 20,000 domains). Joining fee for Demand Class is just $22; and an annual membership fee of $22. How cheap is that!
Under the auDA Constitution, members indirectly have a lot of power. For a start they elect the majority of the Directors. Then they have the power to effect / stop change through other means. I’ll write more about this in a separate article.
Reflection 3
It’s the auDA AGM tomorrow – and as usual I will be attending. I enjoy the opportunity to chat informally with Directors and staff; and then of course ask formal questions during the meeting itself.
Then one can truly get good value from their $22 membership fee by attending the auDA Christmas drinks directly thereafter!
Reflection 4
A few domain investors are having their Christmas drinks at Diksteins Bar in Melbourne on Tuesday evening from 6pm. Always good to catch up with people and have a chinwag and share some hot goss!. 😉 Hope as many people as possible can make it – we have a good kitty thanks to contributions from Domain Shield, Drop, Netfleet and DNTrade.
Sunday is a great day! You’ve definitely provided some food for thought Ned.
On reflection 1, I wholeheartedly agree. Not a small or simple task, but could be worthwhile if it was done right.
Regarding reflection 2, people will only become members if they perceive it to be of value, regardless of the price. If the value is not there, am I’m only talking perceived value, then the membership will not grow significantly. I did some work with an organisation that gave free memberships for 1 year in an effort to prove the value of their offerings and had a 90% renewal rate after the year was out. The fee in this case wasn’t $22 but rather around $600.
My Sunday thoughts revolved around family and ecommerce opportunities in Australia (aplenty).
Joel – thanks for your thoughts (oarticularly reflection 2). I will be writing more about this soon. Had a bit of a feisty “to and fro” with the CEO of auDA yesterday. 😉
re: Reflection 1
1) Are you mainly talking about the need for aftermarket auctions?
2) Do you feel that a successful aftermarket platform would need to be run by a registrar? I think that the assisted sales is a big factor (although this could still be achieved in a reseller manner)
Richard, probably more talking about an aftermarket platform without auctions. Auctions are fraught with issues like shill bidding etc.
I like the idea of a good BIN platform with the ability to make offers (where sellers can set their own minimum levels).