Everyone knows when you’ve got a good thing going–perhaps a hot restaurant reservation or a nice bottle of scotch–you share the wealth with your friends. In our case, the good thing in question isn’t food or a drink, but a premium domains program that’s driving our company (and industry) goals of raising awareness of new domain extensions, growing the domain market, and fulfilling our customer’s needs (for the simple, yet powerful marketing tool that is a crisp, generic, and memorable domain name).
To date, we’ve sold more than 10,000 premium domains through 64 different registrar partners and we’re very pleased with that success. But we realize that this is only the beginning. While 64 partners have benefited from premium domain sales, a number of our partners haven’t, and we want to change that. Specifically, participation in our Premium Domain Program can help our registrar partners expand their inventory, increase revenue, and attract new customers. And now that our premium domain program is more than a year old, we have a lot more data, use cases, and best practices that show just that. We want to share those learnings with our partners and incorporate them into our pricing and merchandising strategy.
We’ll be sharing much more in the months ahead, but here are a couple nuggets that we’re excited to share:
- Data: We’ve driven more than 10,000 premium domain sales for around $3MM in premium domain revenue to date. That’s an average sales price of over $250 and doesn’t even include our registrar partners’ retail markup. At a time when awareness for new domain extensions in general is in its infancy, we think that’s especially compelling. Here are a few examples of the premium domains that we’ve sold to date:
- Buy It Now-Friendly inventory: A major benefit to our registrar partners is ease of purchase resulting in more rapid activation by customers; BIN domains are by nature easier to buy online than other premium domain models. Simplifying the process not only increases the likelihood of selling these premium domains, but it also enables the customer to launch their new domain more rapidly, which is an essential component of our efforts to increase overall new domain extension awareness. Equally important is the fact that many registrar partners that sell new domain extensions have avoided participating in premium domain sales, likely due to the challenge of constructing and implementing a system for those sales. BIN domains are precisely that–names that can be purchased in mere minutes without hassle or complication.
- Effective September 9 we’re changing pricing for 4,933 platinum domains across more than a dozen domain extensions ranging from .LAWYER to .SALE to create more BIN friendly inventory. The new BIN prices range from $1,500 to $15,000 representing a significant price reduction of more than 90% in some cases. A number of factors went into the decision; for example, we have data showing that customers are searching for these domain names but failing to register them.
Among the list of thousands of highly valued domains is a list of 200 featured domains with special appeal to customers, including:
We will be watching closely to see how these 4,933 platinum domains perform at more BIN friendly price points, and collecting feedback from our registrar partners. Most importantly, we’re excited to see what investors, businesses, and visionaries accomplish with these premium domains names, whether it’s sharing ideas or enhancing their brand.