Published on IGWE Domain Holdings (IDH) is Frank Schilling’s ‘Top 5 reasons and counterpoints to Domainers resisting new TLDs’. This was in reaction or in response to an article published on TheDomains by Australian Internet firm, Slam Strategy.
The article was published January this 2014 year following the launch of new TLDS by ICANN, and has received over 60 comments to date. Some commentary were in support of new gTLDS (Generic Top Level Domains), while others rightfully opposed them based on their individual (domaining) reasons, research, and/or opinion.
The following detailed commentary is published on IDH for information purpose, and should be valuable to fellow domainers in the industry. Endeavor to share with others if you find it useful. Below is Frank Schilling’s top 5 reasons and counterpoints to Domainers resisting new TLDs:
1) They are invested in .com. Millions invested, far better to talk this new stuff down and make their .com’s stronger.
Counterpoint: It just doesn’t matter. You can’t put your fingers in the dyke to stop the unstoppable. It’s a big World out there and people will take these names. Your blog posts will not stop it. With so many good extensions coming, there will be many great names and they will shape the future of the Web. You should get some of those if the price is right. If the 10 biggest domain bloggers wrote a post every day about how terrible these new names are it would not stop what is about to happen. When I was in high school there was the beautiful girl who was unpopular. The other girls hated her (cuz she was gorgeous) and the cool guys followed the herd who said she was ugly .. When her few geeky friends convinced her she was hot, she started to dress better, got some confidence and became a model. There is no talking down what is good. The cream rises.
2) Fool me once shame on you, fool me twice shame on me. We’ve seen this before with .mobi .co etc They didn’t change .com and neither will this.
Counterpoint: This time is different because there is not 1 extension coming by itself, thousands are coming. Even more will follow in round 2. A lot of people did well getting in on .co early. They made money. They are quietly watching this process and will participate here. .Co and others are still growing. They have low prices and renewals and they have done well. None of these new spaces (alone) will displace .com and that’s ok. They don’t have to. Just get the good ones. .Mobi is not a strong extension. There are new extensions that are also not strong. Buy the good ones with low prices as you would buy the “good” .coms. In the final analysis this isn’t about fooling you into taking these. What some of us write off as un-viable, future generations embrace as fresh and unique and better. The number one characteristic of being a strong domainer is to keep an open-mind. If I wasn’t open minded to change I would have died on the vine in 2002 with my “Wap” domains when the word retired into mobile communication history and obscurity. You need to evolve. If you are not growing my friends, you are dying. Change is inevitable, and it’s unfortunate that you don’t always get to pick when change will happen.
3) None of these names will have any traffic to monetize. .Com names have traffic.
Counterpoint: Not so.. .XXX names have traffic. other names will have traffic too. I run a BIG parking platform. The average traffic to the average .com is less than 3 unique visitors per day. If you get good names in new extensions they will have more organic type-in (user experimentation traffic) than the average .com name. My premium .XXX names purchased in that founders program consistently get thousands of daily uniques from type-in. Some names get over 1000 uniques a day each. Even average to good names in new extensions will get some traffic. Consider that even great names in established extensions like my mortgages.org only get 1-2 uniques a day. Traffic is all over the map and .com is not a guarantee of traffic any more than .link is guaranteed of none. Get the good ones and you WILL get “some” traffic.
4) They are long, hard to remember, don’t look like domains.
Counterpoint: They only look that way now. .BRANDS will make these mainstream. The success of URL hacks in CCtlds show that people will use them. I have freepsychicreadings.com (it gets traffic and is valuable although it’s long) .. free.psychic is shorter so is psychic.readings .. Don’t let habit or the comfort of the past talk you out of an opportunity. People wrote me off in 2001 when I took .com’s, now everybody accepts that move as brilliant. This is not different.
5) Resistance to change.
Counterpoint: The only thing to fear, is fear itself. When you go out today and buy a .com to speculate for a profit, you do so because others did so before you, but you are still taking a risk. Somebody went first and they often wind up a bigger winner. By far the bigger risk in New G’s was taken by those who brought these registries to market. Taking names at registration price is such a no brainer. It is infinitely harder to go out today and register a com at reg-price and make money than it is to get .SOMETHINGNEW at reg price and flip it for profit. There will be more good ones in the new G’s.
Avoid the registries with variable pricing, avoid paying huge premiums and shake off the malaise of doubt. There is lots of room to profit between the raindrops. By far the biggest risk this year is sitting on your hands and doing sweet nothing, only to watch others scoop, profit and then follow them taking the scraps that are remaining.
ABOUT FRANK SCHILLING
Frank Schilling is said to be an experienced domain name investor and operator who lives in the Cayman Islands. He is a highly regarded Internet investor who saw, early on, the generic domain name business as a growth opportunity. More about Frank Schilling on ICANN Wiki.