Managing Your Domain Business
In order to weather this economic storm, I have been spending most of my time and some of my money on developing and re-developing my websites. I believe it’s become very risky to invest in some lower to mid-priced domain names with the hopes of quickly flipping them, so instead of buying a $3,000 name with the hopes of selling it for $5,000, I am now spending that money on developing my sites (such as Burbank, Lowell, Secaucus and TropicalBirds). Yes it most certainly can still be done obviously, but it is more difficult.
I believe businesses will always need to advertise, and Internet advertising is a trackable way to advertise. Advertisers can determine campaign ROIs and adjust advertising expenses based on this. My sites will offer affordable advertising opportunities, that will be more economical than Google Adwords campaigns in most cases – or at least that’s the idea. The more advertisers that sign up and create custom landing pages within Burbank.com, the greater the traffic will grow and more value all advertisers will receive.
At this time, especially given the tax burden faced by most domain owners who consider their domain assets inventory, it isn’t wise to spend a ton of money on domain names that may or may not sell quickly. I am fortunate to not have registered a considerable amount of new domain names, so I don’t have to make the renew or drop decision, but I know there are plenty of people out there who are doing that right now. While it might not feel good to have to do this, I believe it will lead to a trimmer and more agile company.
It’s tough out there right now, and every decision you make could have a major impact on your company’s bottom line and/or its ability to survive. For me, developing strong advertising venues via development is hopefully a way that will allow my business to survive and ultimately thrive once the economy is more stable. Perhaps you need to look at your domain assets to see how you can better stay afloat.
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