Interview with Ted Olson of NameMedia – I have asked various parties within the domain industry to take part in some interviews to give us a little background about themselves, where they see the industry heading and how they feel the current market for domain names are our twenty third interview is by Ted Olson.
Don’t Forget to check out all the other Interviews completed on RobbiesBlog.com
Mike Mann, Darren Cleveland, Monte Cahn, Braden Pollock, Craig Rowe, Xavier Buck, Jodi Chamberlain, Fred Mercaldo, Tommy Butler, Michael Castello, Rob Grant, Tom Chapman, Ira Zoot, Victor Pitts, Shane Cultra, Nico Zeifang , Chris from AntiCareer.com, Eric Borgos, Jacob Fedosky, Brett Lewis, David Carter, Mike “Zappy” Zapolin and more interviews to come soon.
Ted Olson is the Director of Lifecycle Monetization Services for NameMedia, NameMedia.com are the owners of one of the largest portfolios of domain names, NameMedia is focused on acquiring, developing and selling high-quality digital real estate.
Ted Olson is a domain expert who manages all of NameMedia’s Domain Monetization Services. Ted has extensive experience in the domain industry, including domain sales, acquisitions, monetization, life-cycle solutions, and development. Ted’s background in Internet marketing, SEO, and development has contributed to his success at NameMedia, most recently as a key player in developing institutional partner solutions to maximize revenue from their domain portfolios. Ted’s also built out some of NameMedia’s premium properties (e.g., Mommy.com), and maintains several of his own websites.
1) What are your current thoughts on the Domain Aftermarket? i.e. Sales and Enquiries etc – General Mood of Domainers / End users?
Afternic’s domain market continues to see explosive growth. The market is full of excellent generic domain names that previously were not for sale. There are still millions of small businesses to come online, not just in the U.S. but in Asia, South America, and Europe. Our global network of more than 100 resellers, and sales force of 25+ domain experts, have contributed to our success in these markets. End-users are starting to appreciate more and more the power of a great domain name. While some still think they can register a premium domain for $10, most are now aware that they need to invest in an aftermarket domain to get the name that is going to deliver the results they need.
Domainers used to be very reluctant to sell their domains, but with the drop in parking revenues and increasing renewal fees, many are now realizing the power of our end-user reach to help them drive profits.
Plus, our Fast Transfer technology dramatically increases domain sales. You see, most legacy marketplaces use escrow. Escrow is slow and cumbersome process often taking days to close a transaction. Today’s buyers expect Amazon-level commerce and speed. We’ve invested millions in building Afternic’s Fast Transfer network which allows a buyer to add a name to the shopping cart, put in their credit card information, and bang, they own the domain. This is revolutionary to domain sales. It increases consumer confidence. It helps domain names sell for a higher price. And it increases sales velocity.
2) Where do you see GTLDS in 3 years time?
GTLDs provide a tremendous opportunity for businesses to build a brand around their given industry. Think of what .ski could do for the skiing industry (e.g., aspen.ski, colorado.ski…etc). It also expands the aftermarket opportunities. For those that don’t want, or can’t afford a .com, the gtlds may be just what they need.
3) What are you or your companies investing in? i.e. Dot Com only Domains – Typo – etc?
NameMedia focuses on premium end-user domains. We are laser focused on what small businesses need. This has been a key driver to our success.
4) Do you believe in Parking or Developing? What are your tips for either i.e. Top Parking Platform (What Do You Use) – Developing your thoughts on what to develop and how best achieve it?
I believe in both. Parking is still a great revenue stream when it’s done right, and it requires very little time and effort. The Afternic parking platform continues to improve parking results for our customers as new technology emerges. Parking is also a fantastic lead driver for domain sales.
Domain development is another category and industry, really. Domain development is tied to the investor’s business strategy and plans. There are more and more development options making it easier than ever to develop a domain, but it still requires a plan, maintenance, upkeep, man hours, and, of course, money.
5) What is your favourite domain personally or company owned?
NameMedia owns a million domains so I have a lot to choose from. I like some for different reasons. I like mommy.com because it’s a category killer and brandable. I like cats.com because who doesn’t like cats J. I like martialarts.com, arcade.com, and localbusiness.com because these are pure generics that someone can build an authoritative business on.
6) If you were starting out in the domain space today what are your 3 top tips?
1) Do your research – their are a lot of great domainer blogs out there that have provided a wealth of wisdom and best practices Consider morganlinton.com, dnw.com, dnjournal.com, elliotsblog.com,a nd many others.
2) Stick to investments in .coms that make sense grammatically, and have a life-long purpose.
3) Price your domains and list them for sale with Afternic. Afternic has the largest global network of over 100 reseller partners, and provides 75 million searches each month. I’ve sold domains that I purchased for $8 for $1000s – and so have many others.
7) What’s the next big thing that your companies are working on?
NameMedia never stops. We just released a fantastic new product – NameFind. It helps new business owners identify a brand name and then match it to a great domain name. We’ve also just rebuilt our entire Afternic marketplace. It’s faster, easier to use, and has loads of new features. Our monetization and marketplace offerings continue to expand. In short, there won’t be a week this year that we will not be in the news announcing something – stay tuned.
8) Where do you see yourself in 10 years time?
10 years older, and the better for it.
9) What has been your biggest challenge in the domain business?
Change. This business changes fast. NameMedia continues to invest millions every year in upgrades, new products, and new services to help our customers and partners make more money from more of their domains.
10) What do you feel has been your largest accomplishment in the Business / Personally?
I’ve had the incredible good fortune of working with leaders that push and inspire me. Because of this I’ve been successful in domain sales, domain acquisitions, domain parking, development, and most recently life cycle solutions for our institutional partners. I’ve been adaptable and flexible enough to delve into many key areas of the domain industry. That, I think, is an accomplishment.
Thanks to Ted Olson from NameMedia for taking the time to complete this interview, You should checkout what NameMedia are doing with several of their brands SmartName.com, BuyDomains.com, Afternic.com & NameFind.com Thanks for taking the time to read RobbiesBlog.com