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George Colony is the founder and CEO of Forrester Research, an independent research co. that provides advice to global leaders in business and tech. George’s blog is one of the more influential business blogs out there. RWW said about George, through his blog, “helps other CEOs understand how business and technology intersect.”
Via George Colony’s blog:
Social is like sex. It’s fun to talk about and read about, but you can’t truly comprehend unless you do it.
George goes on why Twitter makes sense even though “much of the social technology is a titanic time waster. And yes, much of the technology is #%@. But there may be real value here for your company — something that you can’t grasp unless you engage with social.”
So I had to ask myself, if most of it is a waste of time, shouldn’t one place their bets on things that are less risky with greater rewards? Enter the world of Domaining.
Yesterday evening an associate called me up to discuss Domaining. During the discussion I gave him an example of a domain which gets good traffic, makes revenues via PPC. The discussion was something like this:
Associate: How does PPC work?
Sahar: Go to “XYZ”.Com, see the links there? Every time someone clicks, we get paid.
Associate: How did you get all these advertisers?
Sahar: I didn’t, they are part of the Yahoo network. Yahoo sells them and we syndicate their inventory.
Associate: Did you design the site yourself?
Sahar: I didn’t, the parking company I’m with are taking care of that, and in return for their involvement, we split revenue share.
Associate: And how much does the domain make?
Sahar: This particular one, if I remember correctly, around 1,000$/day.
Associate: So let me get this straight. you own the domain, you do absolutely nothing, and make 30K/month??!
Sahar: About right.
Associate: WOW!
Don’t get me wrong, Social media is important for a business but at the end of day, all savvy business people are highly interested in ROI. ROI on their cash investments, ROI on their time spent. While there is definitely space and place to focus on Social media, understanding domain names and what they can do for your company is at least as important if not more important. Not only one should look into cash returns on such investments, one should also consider direct navigation traffic (fuel for your site), brand protection, blocking competitors, and direct communication with consumers via easy to understand domain names.
The way I look at it, Social is Banana+Vanilla+Strawberry+Pistachio, Domaining is Chocolate!
Have a great weekend!
Sahar
I know you did not mean xyz but I went anyway - no advertizers..