Got a chance to take a look at the results of the GreatDomains auction which ended this month that Elliot posted here… I like Sedo but wouldn’t exactly call the event a smashing hit, so I’ll just make one comment which will hopefully help them.
It’s a comment I made on other occasions as well but if they don’t take action soon, one of the reseller market’s oldest and most important sales venues (GreatDomains) might end up becoming irrelevant.
If you don’t promote GreatDomains on domaining websites, don’t expect amazing results
Without an advertising budget for GreatDomains, it should come as no surprise that the results aren’t impressive.
I’m one of the bloggers who helps them by reminding people that the event exists but a huge company like Sedo has to up its game. I’m pretty sure a lot of people are remembering the fact that GreatDomains exists after reading my posts and that’s my point, a big company like Sedo has to have a permanent advertising budget for an event like GreatDomains.
Right now, it’s just me doing them a favor by posting about GreatDomains on this blog… seriously, when’s the last time you came across one of their banners?
If they don’t advertise, two things can and will happen:
1) the quality of their inventory will decrease and it happened this month as well: where are the “blockbuster” domains they used to have in the past? Take a look at this month’s list posted by Elliot here and I’m sure you’ll agree that the inventory wasn’t all that amazing
2) fewer buyers, it’s a vicious circle because on the one hand, lots of people forget about GreatDomains due to the lack of a continuous advertising campaign and on the other hand, the previously mentioned lower quality inventory attracts fewer buyers
The strange thing is that advertising on domaining-related websites like DomainingTips is extremely cheap, Sedo is a huge company with a LOT of expenses and compared to these expensive, the money it takes to put together a solid advertising campaign is a drop in the bucket.
I’m not saying they should advertise on DomainingTips but… well, actually I am saying that
Seriously, a company like Sedo has to have an advertising budget for an event such as GreatDomains, hopefully they’ll realize this and implement changes in 2013 and beyond accordingly.