Bido.com is closing

[csitenet]

Marketing is what drives business, flawed marketing strategy means you will never succeed, no matter how great your website looks, if the right people don't know about it, they wouldn’t use it.

Perhaps in the future they will have a list of good domain sellers and end user domain buyers to market their platform to, also bare in mind sedo does undertake marketing activity, they also broker alot of domains on domainers behalf, something i wasnt aware that BIDO ever did. Years of SEDO brokering and relationship building has meant that end users refer to them as the main point of domain purchase, ofcourse their backend integration with the likes of domaintools and eurodns interfaces showing which names are up for sale only meant they are attracting the right relevant audience for each domain. Lesson is unless you have at least $10 million spare to risk taking on SEDO, don't bother making an auction clone. Perhaps if they went down the niche route, things would be different.

 

[britishbulldog]

Marketing is what drives business, flawed marketing strategy means you will never succeed, no matter how great your website looks, if the right people don't know about it, they wouldn’t use it.

Perhaps in the future they will have a list of good domain sellers and end user domain buyers to market their platform to, also bare in mind sedo does undertake marketing activity, they also broker alot of domains on domainers behalf, something i wasnt aware that BIDO ever did. Years of SEDO brokering and relationship building has meant that end users refer to them as the main point of domain purchase, ofcourse their backend integration with the likes of domaintools and eurodns interfaces showing which names are up for sale only meant they are attracting the right relevant audience for each domain. Lesson is unless you have at least $10 million spare to risk taking on SEDO, don't bother making an auction clone. Perhaps if they went down the niche route, things would be different.

What niche route would that be then ?

 

[csitenet]

I know alot of end users, honestly, the only way to attract the big players is if there was one single spot to sell "traffic generating brand terms"

End users rarely buy generic terms, however they are very protective of their brands specially with extensions out of their trademark jurisdiction (at least 70% of big brands don't own their own trademark world wide) i was actually recently made aware of the price marlboro.org was privately acquired from a school which used it as their main website.

Domains such as that could be sold within an auction platform, this will attract the highest sales, best audience and generate maximum attention from the domain community.

One point every platform needs to adhere to is no end user will just purchase a domain name by face value, the more information about a domain and potential financial forecast, the more likely a sale will occur. You need to provide stats of typeins, search engine traffic, country of origin and any affiliate financial gains from the name to maximise sales, this typically isnt done on auction platforms which is a shame as great names are missed by end users who are too lazy to conduct some background research.

This is a good tip to anyone who is actually looking to sell their name actually, if the name is a very good name, you will benefit immensely by creating a for sale page and conducting a template analysis of your own domain name, the size of the market, the forecast of the future and the traffic currently attained by the name, it just makes things simpler to be approved for a potential end user purchase as the directors typically need to approve any major financial transaction and without a solid foundation of reasoning why the domain is worth the price you are asking for, this will most likely get missed out.

 

[britishbulldog]

I know alot of end users, honestly, the only way to attract the big players is if there was one single spot to sell "traffic generating brand terms"

End users rarely buy generic terms, however they are very protective of their brands specially with extensions out of their trademark jurisdiction (at least 70% of big brands don't own their own trademark world wide) i was actually recently made aware of the price marlboro.org was privately acquired from a school which used it as their main website.

Domains such as that could be sold within an auction platform, this will attract the highest sales, best audience and generate maximum attention from the domain community.

One point every platform needs to adhere to is no end user will just purchase a domain name by face value, the more information about a domain and potential financial forecast, the more likely a sale will occur. You need to provide stats of typeins, search engine traffic, country of origin and any affiliate financial gains from the name to maximise sales, this typically isnt done on auction platforms which is a shame as great names are missed by end users who are too lazy to conduct some background research.

This is a good tip to anyone who is actually looking to sell their name actually, if the name is a very good name, you will benefit immensely by creating a for sale page and conducting a template analysis of your own domain name, the size of the market, the forecast of the future and the traffic currently attained by the name, it just makes things simpler to be approved for a potential end user purchase as the directors typically need to approve any major financial transaction and without a solid foundation of reasoning why the domain is worth the price you are asking for, this will most likely get missed out.

Yeah but you can do that with sedo under the domain description,it's just that most cant be arsed to fill it in.......

 

[jmcc]

It was a great idea and they obviously put a lot of effort into getting it to work. The problem was that many of the domain names that kept appearing were recently dropped junk often with a history of continual parking. There were some good domains but they tended to get drowned out in the noise.

Regards...jmcc

 

[theinvestor]

I can only say one thing about what happened to Bido ...

They started simple and then made it complicated. Never change your business model while you are starting up.

 

[britishbulldog]

I can only say one thing about what happened to Bido ...

They started simple and then made it complicated. Never change your business model while you are starting up.

So true it got worse and worse i honestly thought their plan was to make it that complicated you had to buy a course from them to study the workings of the site ;-)

 

[DutchBoyd]

I agree with theinvestor. When Bido launched and was just doing a single domain a day, that was an awesome thing. At that time they were getting some pretty quality submissions. Would have loved it if they would have stuck with that one-domain-a-day model.

 

[Tia Wood]

I miss Bido.

 

[britishbulldog]

I agree with theinvestor. When Bido launched and was just doing a single domain a day, that was an awesome thing. At that time they were getting some pretty quality submissions. Would have loved it if they would have stuck with that one-domain-a-day model.

LOL tell me how could a company survive on selling one domain per day unless it sold for at least 5 to 6 figures.............

 

[katherine]

At one point Bido had some quality. Then they had volume. They failed to get both at the same time.

 

[lotk.com]

I haven't read all the pages on this, but it would be great if bido would stop emailing me everyday to fill in my selling preferences and/or that my complimentary points have been reset.

 

[WebMaster]

been nice site. Dreaming the current bido owners will sell it to company who bring it to life width the same features . Sold many names there.

 

[Theo]

It's funny but both Sedo and Bido are people's last names.

 

[CorrectName.Com]

While I didn't use it much, I did some. I was impressed with how hard they tried. I would figure the people I spoke to worked so hard their efforts just weren't being rewarded as sales just weren't that big for them.

Saw a lot of business opinions on how they should have run the site. Whos to say whats the best method. Sedo surely has tons of junk on it. You need buyers and sellers. Be tough to have some decent domain auction on a regular basis with some sort of volume and not plenty of lesser names...And remember a lesser name to you might be the perfect name for someone.

The domain and website market has so many places to sell or auction and still is no clear winner. Flippa has surely become the player in site sales auction, and sedo and afternic are surely stong in their models.

Anyway I hate that a few worked so hard only to decide to close down the site.

 

[barefoot]

It's funny but both Sedo and Bido are people's last names.

Not nearly as funny as this guy I know whose last name happens to be Dnforum. Joe Dnforum.

 

[RTM.net]

I too was impressed with the entire project as far as branding, presentation, site design and usability... but the rapid downward spiral in sheer quantity of tier 3 (or less) names really killed the site, IMHO.

I think it's a great domain name... but only for a niche auction site (anyone remember bid.com during the .com bubble and how hard they tried to convince investors that they were really going to topple eBay in the online auction space?)

Rob

---------- Post added at 05:29 PM ---------- Previous post was at 05:28 PM ----------

I haven't read all the pages on this, but it would be great if bido would stop emailing me everyday to fill in my selling preferences and/or that my complimentary points have been reset.

I'm getting those as well. I suspect the mailing / CRM system was outsourced or hosted elsewhere and err.. maybe they weren't advised of the site being out of operation.

Strange.

Rob

 

[svfox]

Sedo has the right model. The only model I've seen work. An end user only becomes an end user when they want a domainl. When will that be, who knows.
That is why when you have a domain they want you get good money.

 

[svfox]

I sent them domains but got resell prices. They never got any end users. Hard nut to crack, only Sedo and a few others have.

 

[Raider]

I think the biggest mistake Bido made was allowing low quality and low priced domains in their auctions... The majority of these names were so bad that you could pick up better or comparable names on a drop with no bidders. They needed to attract high quality domains, but couldn't because few domain owners want their HQ domains associated with low quality names.

I'm sorry to see them close down, they had a GREAT model, Hopefully somebody will come along and replicate it with improvements to make it a success.