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$500 Domain Competition => Be the Master... and get $500 Bucks!

Discussion in 'General Domain Discussion' started by Ross, Feb 8, 2010.

  1. Ross

    Ross Membership: Community

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    Hey Guys, (See full post here http://www.dnmarket.com.au/domain-competition.html)

    There’s been a lot of talk on DNTrade about developing domains rather than parking them.
    We all agree that parking is a waste of time and each of us has an opinion on the best way to develop and monetise domains (minisites, lead generation, affiliates, etc).

    So I decided to start a contest and throw $500 in the mix… along with the bragging rights of being the Australian Money Making Master (AMMM).


    How does it work?
    Contestants will develop 1 of my domains (using a revenue sharing agreement – U get: 60% - I get 40%).
    The person who makes the most money will get $500.


    Contest runs in 2 stages:
    * 2 Month Stage => Winner gets everything they earned + $200
    * 6 Month Stage=> Winner gets an additional $300 and is crowned AMMM

    Everyone else gets to keep 60% of revenue generated from their domain (except for the first 2 months where they get 100% of the revenue).


    Example Scenario
    If you win and your website produced $1,000 a month, you will get:

    2 monthly incomes + winner of 1st contest + 60% of monthly revenue for 4 months + winner of 2nd contest

    2 * $1,000 + $200 + 4(60% * $1,000) + $300.
    That’s $4,900 in 6 months… plus 60% of future revenue from the site.


    Why should you do this?
    * Access to my best domains
    * Have fun and show everyone your skills (while being the AMMM)
    * Generate regular income from the domain


    Timeline
    Feb 8th Contest Announced
    Feb 13th Proposals due
    Feb 15 Contestants announced + Comp Starts
    April 16th Competition closes, Winner anounced + gets $200
    Apri 19 Stage 2 begins with monthly updates
    Oct 15 Stage 2 closes and winner gets $300

    * Some variation to the timeline may occur


    Becoming a contestant
    * Email me a list of 5 domains in order of preference
    * For your top 4 domains, describe how you’re going to monetize it
    * Mention the backend as well (e.g. Joomla, WordPress, etc)
    * The proposal should be no longer than 1 page – bullet points is ideal


    Judging Criteria (in order of importance)
    1. Amount of money generated from the site during contest
    2. Size and sustainability of future earnings
    3. Amount of unique content on the site
    4. A poll conducted on DNTrade with members voting for the winner
    5. SEO, Page Rank, and visual appeal

    FAQ
    Just make sure you read all the questions before posting… in case they’ve already been answered.

    Who will own the domain?
    I will own the domain and you will own the content. Apart from the first 2 months (where you get 100% of revenue generated) we’ll split everything (60%you - 40%me).

    Can I use my own domains?
    No, only my domains can be used for the contest.

    How long is the arrangement?
    The domain partnership will be for 3-5 years minimum… and hopefully forever as we’ll both benefit if the site makes money. I’ve never sold a domain yet… they’re an investment.

    Are there any termination clauses
    If after the 6 month process the website is making less than $20 a month, just give the domain back. But come on… I’m sure everyone can make $20 a month on a domain.

    Can I sell the site later?
    Maybe … but both of us need to agree to do this

    Do I need to show you earnings for the domain?
    Yes, this is needed to judge the contest and to make the relationship transparent

    Do I need to give you the passwords?
    No, the content is 100% so I don’t need access to the site… knowing that you’re making money is what really matter to me.

    If I have questions should I email you?
    No, I don’t want any private emails… just post questions on forum… as other people will benefit from them as well.
    This makes the process transparent and also easier for me as I don’t have worry about answering emails
    The only email I would like to get from you is the competition proposal.

    How will the prize money be paid?
    I will EFT you the money… just need an invoice with an ABN (we’re all professional here).

    What should the backend for the sites be?
    Strong preference is for an open source systems such as Joomla, Wordpress, Drupal

    Can I use Adwords to drive traffic?
    Yes… but the cost of the ads will be deducted from revenue to get net earnings.

    Can I build an adult site?
    Of course… I have nothing against porn… as long as it’s legal and appropriate

    How can I follow the contest?
    I will be making updates – at least once a week

    Where are your domains?
    http://www.dnmarket.com.au/domain-competition.html ... just scroll to the bottom

    If I’m accepted as a contestant, do I need to sign an agreement with you?
    Not really… I trust you. Reputation is the most important thing we have (especially in this small community)… which should give everyone an incentive to do the right thing.
     
  2. Ross

    Ross Membership: Community

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    Also... if the winner is in Melbourne or Sydney then i'll shout an expensive dinner (up to $100 Bucks) ... which should be a bit of a bonus incentive
     
  3. Billy01

    Billy01 Membership: Community

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    Heres an idea

    Why don't you just take my brain for the week. Get all the info you need and call me the Money Master :confused:
     
  4. djuqa

    djuqa Membership: Trader

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    Minisite King Takes up the Challenge

    Count me in for the MiniSite option.
    But as my minisites are NOT MFA's, they will feature Adsense, Aff. ads and Paid links.
    refinance-loan.com.au
    personal-injury-lawyer.com.au
    BlogMarketing.com.au
    Internet-Business.com.au
    SunnyQueensland.com.au
    What else do I need to do?
     
    Last edited: Feb 8, 2010
  5. Ross

    Ross Membership: Community

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    How about you enter the competition and win... not only will I call you the Money Master but you'll get $500 bucks, revenue from the site and also a swanky dinner (if you're in Melb / Sydney).
     
  6. Ross

    Ross Membership: Community

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    Becoming a contestant
    * Email me a list of 5 domains in order of preference
    * For your top 4 domains, describe how you’re going to monetize it
    * Mention the backend as well (e.g. Joomla, WordPress, etc)
    * The proposal should be no longer than 1 page – bullet points is ideal

    My the list of domains available is here .... http://www.dnmarket.com.au/domain-competition.html (at the bottom)
     
  7. Billy01

    Billy01 Membership: Community

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    No thanks dude

    I might keep the best 5 domains I've got and how they are monetised up my sleeve thanks. You almost got me with dinner at Maccas though:mad:
     
  8. Ross

    Ross Membership: Community

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    Sorry... there seems to be some confusion.
    contestants don't need to reveal anything about their existing domains.
    This competition is about developing 5 of my existing domains ... and getting lots of rewards for it

    Please read the FAQ above... if possible
     
    Last edited: Feb 8, 2010
  9. Billy01

    Billy01 Membership: Community

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    Sorry Ross

    Nice idea. I must have had crazy for breakfast.

    I'm outta here.:D
     
  10. Ross

    Ross Membership: Community

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    Ok, are they listed in the order of preference?
    Eg is refinance-loan.com.au the 1st prefferance? followed by personal-injury-lawyer?

    For the top 4 sites, just give me a couple of bullet points about how you're going to monitise them.

    This part here is probably ment to be confidential (as you might not want others to know which domains you're going after). However, if you're happy for other people to see this... then it's fine.

    I guess it gives everyone an example of how this thing will work.

    I guess for refinance-loan you might consider using PPC to drive traffic and then sell leads to mortgage broker. Or maybe you can do a good job with SEO and get lots of $$$ from Adsense. This is just an example of the type of info i'm looking for
     
  11. djuqa

    djuqa Membership: Trader

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    Ok with refinance-loan.com.au (I make heaps with Refinance-loan.us)
    and email sent
     
    Last edited: Feb 8, 2010
  12. neddy

    neddy Membership: VIP

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    auDA Member:
    Yes
    Hi Ross,

    I admire you for thinking "outside the box". I think it is a novel idea, and I sincerely hope it works for you.

    Cheers, Ned
     
  13. Ross

    Ross Membership: Community

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    You have to be in it to win it!

    Thanks Ned.

    I've read somewhere that the best way to do business is to give the other person the better side of the deal.

    However, i was expected a few more people would be interested in the offer.

    Remeber you get 2 months of everything from the site... then 60% of what it makes... pretty much forever.
    In addition if you win the competition, you also get $500 cash!
    Not to mention the PR of being the best at making money.

    This means that other domains will probaby approach you and offer even more money.
    Reputation is the hardest thing to get... but once you get it... then people will come to you... and you can name your price.

    So i think winning the competition would probably be worth more than the actual cash!

    Besides... it will be heaps of fun... and it's the first real conversation we've had... with prizes 'n all
     
  14. johno69

    johno69 Membership: VIP

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    auDA Member:
    Yes
    I wouldn't expect this to be too much really, the 1st 2 months will be a growth period I would expect.

    I'd happy to give away to give away 100% of nothing too.

    The way I see it, while it sounds great, the domains aren't really that premium. So to develop and promote someone elses 2nd rate domain with a promise of 60% is not as inviting as developing and promoting my own 2nd rate domain for 100%.

    I think for that fact, you may have had less than the expected response.

    Sorry but i'm going to declare myself out.

    Been watching too much Dragons den
     
    Last edited: Feb 9, 2010
  15. Ross

    Ross Membership: Community

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    the offer gets better - Keep everything for 6 months

    I acknowledge your opinion and you do make a valid point regarding the amount of time it takes to develop a domain. So i'm making the offer even better.

    Contestants can keep 100% of what the domain makes for 6 months... rather than 2.
    Everything else remains the same... so essentially the deal is even sweeter for existing participants.

    In terms of quality of domains... its a highly debatable topic... as they say that beuaty is in the eyes of the beholder.
    There are many people on this forum each from different industries and with different experience and skill sets.

    The main aspect of this contest is the competition itself... people having fun and producing results.
    I anticipate that the results will motivate others to develop their domains (and the person who they'll approach first will be the winner).

    "You don't have to be great to get started, but you have to get started to be great."
    ~ Les Brown
     
  16. DavidL

    DavidL Membership: VIP

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    auDA Member:
    Yes
    I think this is a great idea - well done Ross!!
     
  17. Ross

    Ross Membership: Community

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    The stage is set... now we're just waiting for more contestants

    That's the spirit... the forum is now filled with excitement and anticipation.

    So come on brilliant marketers and developers... here is the chance to shine.
    Fame and Fortune awaits!

    If lots of money is made, maybe a press release can be made... if it's newsworthy enough.
    So the domain industry as a whole will benefit
     
  18. djuqa

    djuqa Membership: Trader

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    Such lack of vision and Business acumen.
    I have had Countless domains that when developed shortly after purchase (Despite owning for years Parked.com.au, I never park sites)
    Made renewal+ in the First month.
     
    Last edited: Feb 9, 2010
  19. Honan

    Honan Membership: VIP

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    auDA Member:
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    Good on you Ross
    Re:
    "Do I need to show you earnings for the domain?
    Yes, this is needed to judge the contest and to make the relationship transparent
    "

    How will a contestant show you their earnings?
     
  20. Ross

    Ross Membership: Community

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    Thanks for the question

    A screen shot should be sufficient.
    I don't think anyone here will manipulate their earnings to win (but i'm open to suggestions from contestants)

    The backend of the site will be secret even from me (it will be hosted on your server).

    I'll just update the DNS settings and the domain is yours to develop.
    That way you don't have to reveal any secret strategies.