Domain Name Tips and Tricks

Again inspired by a comment, I wanted to think through the strategy of taking hundreds of domains and filtering them to find the best one for development. The strategy would be then to set standards and develop those that met those standards. With so many domainers interested in the development of websites, this is a common issue. Do I have the perfect answer? No. But I want to think out loud with you and see what ideas there are. This post for who have a huge domains list, if you don't you should buy some domains to make your own website. Get many $0.99 domain coupon here

As a scientist, trying to select the best domains from a portfolio of hundreds or thousands intrigues me. I will say up front that I have never done this and so I am thinking out loud. As such I am also really interested to see what ideas you have.

The traditional way is to do the research. You check the keywords, search volume, ad inventory and competition for a start. This is a laborious and very slow way to get through a portfolio of this size. One could argue that you should have done this before buying the domains but a portfolio of this size is bought over time and all of these parameters change over time.

When faced with complex problems, my first step is to look for logical sub-units. So scanning through the portfolio, I see 10 domains about fishing. Should I develop 10 websites about fishing? Probably not because they are likely to end up in competition with each other and just dilute the traffic among the sites and dilute your efforts. So looking for groups of domains that could compete with each other might be my first choice.

My choice now would be to pick the best name – a high quality generic name if you have it – and add that to your shortlist of domain names to be developed. Rinse and repeat until you have a shortlist of domain names that are the best of each sub-group. Now you should have a list short enough to research. I would pick the top five from your prioritized list after the research is complete.

Next I would write a business plan for each website. It doesn’t have to be amazingly detailed but it should include expected demographics, competition and revenue model. The final step would be to enter the website development stage.

Is it possible to put up hundreds of mini-sites or one page landers and have traffic dictate the winners for development? This is a definite maybe.

Lets face it. This data will be very similar to parking the domains and looking at traffic statistics in my opinion. With sites of this low quality, the search engines will not provide much traffic, if any. No one is likely to link to these sites and so no traffic will flow this way. So you could take the direct navigation statistics from your parking company and pick the best earners and develop them hoping that the direct traffic stats will be matched by search engine love after development.

The catch is that this often is not the case. A great domain name and good direct navigation statistics is not enough to ensure a successful website. A lower quality domain name with no direct navigation traffic can outperform a great domain name. This happens over and over again.

There are many reasons why this happens. Premium domain names may remain undeveloped and the domain name has been kept as an investment. It therefore misses out on the advantages of being aged in the search engine index. It may be sold and the existing website either intentionally or unintentionally scrapped. I have seen some great domain name websites destroyed by this. Poor content, poor linking and a poor business model can also be the downfall of a great domain name. In areas with high competition, poor domain names may well outrank the best domain name because they are aged and established. Playing catch-up even with a great domain name is not easy at all.

For example, if I search for “divorce” in Google, we would expect to see divorce.com right? But it is not at the top. It is not even on the first page of results. It comes in about 19th. Take a look at the website names ahead of it and you will see there is no relationship between ranking and having a killer domain name.

So don’t get me wrong. Great domain names give you a leg up on the competition and have many advantages but they are only part of the equation. You still have to deliver the content and business plan that will help you succeed.

So this is my take on how to select domains for development from a large portfolio and I have tried to represent it graphically here. So what are your thoughts?

Watch more video: How to buy a domain name

I was reading an interesting article on Trendwatching.com about Generation G. That’s G for Generous. For those speculating on domains for new trends, this has some interesting predictions. They discuss the disgust at the excess in the corporate world, bad corporate leadership and current financial crisis. The article also argues that this had led to a backlash and that sharing and generosity are now in vogue.

The article suggests that companies will fall over themselves trying to restore their public image. They argue that corporations will have to be more nurturing, kind and generous. So far though, I have yet to see that happening in 2009.

Are the “generous” initiatives they describe in this article going to be seen as financially responsible when the same companies are laying off employees? Can you appear kind to the remaining employees or to the customers who read the headlines?

Perhaps this is one to watch as the true financial recovery starts.

This suggestion is that companies will try to outdo each other being eco-friendly. Instead of having to be carbon neutral, they will go further and plant more trees and reduce emissions further than are strictly necessary.

Again while I know how powerful the eco movement is, this just doesn’t strike me as the highest priority for companies right now. Maybe this is a buy and hold play.

This is the one that most caught my interest. Actually it has been in use in the real world for quite some time in areas such as cosmetics where samplers are available for customers to try before they buy.

Since it is a proven concept, it would be interesting to see it expanded into other product areas. With buyers being more cautious, allowing customers to try out products before they buy seems like a good idea.

Making a will is not something many people want to think about but it is something worth considering if you want to determine who will get your assets when you pass away. What if no one knows about your domain names and they start expiring? Isn’t it time to arrange transfer of your domaining assets to a beneficiary in the event of your death?

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Domaining is a business based on the premise that domain names have monetary value and/or income. Like any other asset, it is important to make arrangements as to who should inherit these assets. Assets associated with domaining may include domain names, websites, software and hardware. You may also have licenses and subscriptions which you should examine.

It is important that you document your purchases, sales and other income e.g. parking income as the general course of business but also so ownership can be clearly documented. Obviously the documentation needs to be up to date to ensure accuracy. You may have changed registrars since you bought or registered the domain and so documentation reflecting information about the current registrar is important.

Also make sure the Whois information associated with each of your domain names is accurate. “At least annually, a registrar must present to the registrant the current Whois information, and remind the registrant that provision of false Whois information can be grounds for cancellation of their domain name registration. Registrants must review their Whois data, and make any corrections.” (ICANN instructions)

Giving someone else, executor or beneficiary, access to the email account you have in your Whois may not be a bad idea since all correspondence will come through that email address including expiration’s.

Depending on the domain names you own and in which country you live, inheritance procedure may vary. It is hard to find clear written policies from registrars or governing bodies on this subject.

Here is a rare example taken from the terms and conditions for .uk domain names through Nominet

“18     If you are an individual, this contract will end if you die and the person legally appointed to deal with your assets after you die does not transfer the domain name (either to themselves or someone else) within a year of your death (or the end of their appointment, whichever comes first).”

It also appears that a beneficiary who receives the domain names through an inheritance also inherits the legal liability. A WIPO claim shows one such example: Tail of the Dragon, LLC v. Ronald Buck. In this case the wife of the domain owner inherits the domain name and then because of the alleged harassment by the complainant’s legal team, she moves ownership to her son. The eventual outcome was in the defendant’s favor but what is noted is that the beneficiary’s conduct may have bearing on a pending case. Lesson to be learned there.

I was not able to find a clear description of how domain names would be treated for inheritance tax. It appears they may be treated differently depending on whether they are a trademark or not (your own trademark, not someone else’s). It would be interesting to find out more because it might be worth filing a trademark in particular cases to avoid inheritance tax but it would need a good tax attorney to help figure that out.

Imagine you were not there tomorrow to run your business. What would happen? Is there someone who could step in for you in the interim? Are you completely essential for your business to run smoothly day to day?

Having a plan that includes:

“Your homework is to teach the person who has your power of attorney or your independent executor what your important information is and where you store it,” said Cameron Vann, an attorney in Washington, Texas, who specializes in probate and family law.

Vann suggests creating a list of important contact information, including who your attorney is, who your accountant is, where your bank accounts are located, and so on. This list could also contain your passwords.

You can find out more from this State Bar of Texas article Memorializing Your Computer Passwords

As always, I am not a lawyer and you should consult one before you make any decisions about your will and inheritance.

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