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Shirley
Posts: 3126
Joined: 1/8/1999
From: Omaha, Ne USA
Status: offline
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How much would you pay?? - 4/14/2003 20:20:19
What would you pay for a domain that you really really want to keep a competitor from getting but have no plans to use yourself??
Here is the deal. A competitor has closed his website and has the domain for sale. It is a good domain but I am happy with my domain and get lots of traffic. However I am afraid another competitor will buy it and I don' t want that to happen.
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Everything But Cake
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rumblepup
Posts: 116
Joined: 1/29/2003
Status: offline
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RE: How much would you pay?? - 4/14/2003 21:21:41
One of my customers faced this problem, and there where some questions that I told him to answer first.
What percentage of the market (regional or national) did your competitor have?
How much traffic did he get from his website?
-and
Why was he not able to capitalize on the traffic that he got?
Do your customers know who your competitor is?
Do your potential customers know who your competitor is?
Are you, or can you, honor his contracts for products or services?
***
These are all very marketing orientated questions, but if the answers indicate that you would only benefit by purchasing the URL, (AND HAVING IT POINT TO YOUR PAGE DETAILING WHY,) then buy all means buy it.
I offered $200.00 dollars for the URL for my customer, and since the competitor was going out of business, we offered to honor his service contracts pending for his signature on a non-compete. The offer was fair and the competitor accepted.
Maybe we lucked out, but that' s the price it was worth to my customer and his business. He experienced a 35% growth, when his customer only had about 12% of the business. 20% of his growth came from the website.
Wow!! I know this was long-winded, but the bottom line is that the URL is worth what that amount of business is worth to you. Use your advertising budget percentage to figure it out. (Usually 1-3 percent, but I' ve seen people with a 5-10 advertising budget.)
Did I help or hinder?
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