Our entire existence has some automated process each day, whether it’s our Keurig brewing fresh coffee, meters gauging how long we’re able to park or seamlessly paying bills. One automated inconsistency domainers levy incorrect pricing information from is online appraisal bots, your simple computer implemented PHP script which calculates backlinks, Alexa ranks and other domain demographics to determine what ‘perceived’ price your domain should sell for. Like any manmade cadaver, one major ingredient lacks within these programming scripts – the human factor. Automated domain appraisals all come with 5 major caveats, presented by a seasoned domain buying vet.
Bots Don’t Know Buyers
Entrepreneurs seeking new domains for business branding have preconceived rules which must apply to their domain name: cheap to market, easy to remember and quick to type are some. Bots use aggregated information as mitigation when pricing domain estimates; the incorrectness behind their figures couldn’t be more obvious, especially when they’re not factoring in current keyword CPC. I’ve never seen robots talk accurately, let alone actually factor in whether your business would fit any given domain. Ok, we’re not counting lovable Small Wonder robot Vicki.
There are a number of brands that are considered superstars in their respective fields. Whether it’s fashion, technology or energy, these iconic brands have grown beyond their target audience and become household names. What do they all have in common then? Quality is the obvious answer, yes – but we’re here to talk about how the domains of these incredible brands has elevated them to such heights.
Automation Lacks Uniformity
So, I ran my domain through Estibot and Valuate. They both stated $2,200 was the going price, yet from there, all figures headed south. For one, my ad competition showed High for one, Low for another. Next, the CPC someone could expect to pay for given keyword was $1.36 and $2.72, respectively. Finally, my average monthly searches were 1,952 and 2,928, in order. How, with conflicting figures, could two totally different estimation bots price my domain the same? Lacking any uniformity, one would be foolish to base entire domain name non-semantic worth based solely off information aggregation. This is why human appraisals are nearly mandatory for an accurate price quote.
Bots Don’t Spend Money
Intrinsic domain values also factor in what monetary infusion will be necessary to develop, brand, market and draw attention to that domain. Since bots haven’t exactly perfected gains and losses, estimating what any name is worth without knowing more intimate financial information is moot. Comparable to selling stocks, other factors like daily fluctuation of figures, market value and product popularity also go into domain name worthiness, thereby nullifying automated estimations altogether.
Guesstimations Don’t Close Sales
Walking into brand new car dealerships, you know whether you’ll pay sticker price, slightly about dealer costs or perhaps slightly higher if financing. Asking any robotic text box what your intellectual property is worth based off yesterday’s value robs the domain name of actual figures necessary to make sound buying decisions. Guesstimations actually turn savvy investors off since solid financials, branding potential and name recognition weigh heavily into their domain buying decisions. Moreover, guessing anything related to business may demean your intelligence, and scare investors away.