We’re excited to share some of the key highlights from Q3, 2019.
As a result of our increased investment in Marketing, Squadhelp is now attracting more than 1M visitors per month. Last month (September, 2019), we received over 1.3M visitors (934,000 unique).
The below screens from Google Analytics tell the story about the month over month visitor trend.
Monthly Unique Visitors
Why does this matter?
More exposure leads to more sales, which is why we are currently investing a record level of advertising spends to get potential buyers to our platform.
We believe there are two important factors that play a role in achieving exposure for your domains:
- Monthly Visits: How many people are visiting the website every month.
- Inventory: How many other domains are listed in the Marketplace (which are competing for exposure).
We, therefore, believe the “Visits to Inventory” ratio is a good way to estimate potential exposure. For example, if 1M people visit SH in a month, with about 25K premium domains listed, the Monthly Visits to Inventory ratio is 40.
On the other hand, if another marketplace receives 260K monthly visitors, and has over 80K domains listed, the Monthly Visits to Inventory ratio would be about 3.25.
Based upon data provided by third-party tracking tools such as SimilarWeb, SH currently receives more than 4X monthly visitors compared to any other brandable marketplace.
Last month, we significantly reduced the SH commissions for Basic Listing domains to 7.5%. The Basic Listings are searchable in a different section of the SH platform, and therefore do not receive as much exposure compared to the premium listings. However these listings can be a great option if you are looking to add a well optimized landing page, as well as payment Escrow service along with 24 X 7 chat support for buyers.
For seller owned premium listings, while it may seem that the 30-35% commissions are too high, something to keep in mind is that we are currently spending significantly more than 30-35% of our overall revenue in Marketing and platform improvements . This ultimately helps our sellers achieve the industry leading sell through rates.
Platform Updates – Marketplace
Here is a quick recap of some of the key updates and changes from Q3:
- Ability to allow other creatives to pitch your premium domains to SH customers (via Naming Contests)
- Reduction of basic listing commissions to 7.5%
- Ability to boost your Marketplace domain rankings
- Faster review times and more favorable commissions with Squadhelp Coins
- Simplified domain publishing process
- Increased focus on high-quality Logo Designs
- Ability to Request Lifestyle Images for your domains
- Make Offer Feature for Domains
- More Flexibility in Changing Selling Price and Discounts
Platform Updates – Contests
- We launched a new UX for the contest launch flow to make it much more intuitive and easier to use.
- We have also upgraded our Homepage UX to a modern, more intuitive layout.
- We have added additional screening requirements for new creatives to ensure a high quality of contest submissions
- We have also made adjustments to entry submission limits in order to ensure that the contest holders do not get overwhelmed with too many submissions.
- We are in the process of rolling out a major UX upgrade to My Account, Dashboard, My Contests and other pages to ensure a more seamless experience for our creatives.
Our product team is working round the clock to improve the platform experience for both Marketplace and Contests. We plan to announce several more updates that will further improve the overall experience for our seller and creative community.