You sold your blog? Hasta la vista, baby!
Have you ever sold a blog? Are you thinking of selling one? What do you expect from the sale? What does the buyer expect? Questions and more questions. I can answer a few of the questions in my own inimitable way, but I can't answer all of them because I've never sold a blog nor do I ever intend to do so.
Sales I've Seen
The first one I actually saw happen was when Jon Phillips wrote "Not An Easy Post To Write – SWR Is For Sale". It wasn't a bad sale at all since he sold it Liz Strauss of Successful Blog, an experienced blogger. Heck, I have the badge she awarded this blog with her thanks to week 112 SOBs in my upper left sidebar and it will remain there until I decide to do something else (maybe never).
The next sale I noticed was a little strange. The story actually started before Jon's sale. It was the sale of One Man's Goal by Bryan Clark (not Brian Clark of Copyblogger). He announced the sale on November 7, 2007 with "Sold!" and stated he had sold it for $8,500. On December 30, 2008, he announced he had bought it back from Austin [somebody] for an undisclosed amount, but for less than what he sold it for with "Surprise! It Feels Good To Be Home".
The next time he sold it, he sold it to Marc Galeazzi for $10,000 (I think) . I found out about it when I read the post at Blogger Unleashed titled ""Another DumbFuck Is Born LMAO!!!!" on April 12, 2008. I hate to say it, but Marc got robbed.
The latest sale I witnessed was when Rocky John sold Blogging Mix to Matt at Work at Home Blog on May 2, 2008. Rocky John didn't give the details away, but at least he sold it someone who actually knew what he was buying.
What do sellers expect?
I think expectations are different in each case, but I think some sellers do their best to milk (or bilk) the buyers out of the most money they can possibly get. I'm sure there are some honest bloggers selling blogs for reasonable prices. They're selling a blog with a decent Google PageRank, decent and steady traffic, a fair amount of backlinks and other good rankings.
What do buyers expect?
I think buyers, all buyers, expect the blogs they've purchased to continue to perform as they did with the previous owner. I'm sure they expect, at the very least, for the rankings to remain the same until they can get completely involved with their purchases. Most of the time that happens, but not always. One thing they never expect is for the blog to take a nosedive within a month.
Buyers should never expect the blogs they purchase to continue along their current paths. Unfortunately, that's probably exactly what they expect. If that's what they expect, then most of them are in for a rude awakening. It all has to do with loyalty.
Loyalties
Okay, so you've sold your blog. Do you really expect me, or anyone else, to continue reading and participating on that blog when you're no longer the owner? I don't know about anyone else, but I read blogs because of the bloggers behind the blogs, not because of the blogs. Does that make sense?
I no longer read the blogs that I mentioned were sold. The original blogger isn't there, so why bother? If I sold one of my blogs, I wouldn't expect anyone to keep reading it either. This isn't real estate and in my not-quite-so humble opinion, a blog is only worth as much as the blogger who created it. It loses its value to me the moment it's sold.
Where are YOUR loyalties? Are they to a blog or to the blog owner (and/or author(s))? Do you give your trust to the new owner freely or do you expect them to earn it? Am I alone in my thoughts?
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For the clueless, "hasta la vista" translates from Spanish to the English colloquialism of "see you later" which, in essence, simply means "goodbye".
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Good Blog. I will continue reading it in the future. Nice layout too.
Aaron Wakling
I agree with you RT. Unless I go to a blog for specific information – like a how to or a linkfarm type blog, I am interested in what the blogger has to say and who they are. If you read a site for a while, you get a sense of the person and you know that if you like them (or their online persona) or what they have to say that you will return.
The buyer may be a perfectly decent, likable person, but I won't know them in the same way and that breaks the relationship. If the buyer is informed and informative and can write well, I'd suggest they start their own blog because they will build the traffic. As a twisted compromise, they could use a redirect to put the old blog's traffic to their site and put the old blog in either archives or in a separate section.
Otherwise it would be like watching "The Johnny Carson Show, presented by Conan O'Brien"
ray’s last blog post… Woopra – Website Analytics
Ditto. I read for the blogger. If they are not there what's the point?
Stevo’s last blog post… no justice
I totally agree. I read on sites. I don't go there for any other reason. If the flavor changes, I will probably drop it. BTW, I'm no longer getting your comment feed. Any changes?
No changes, but I just checked and the last one picked up was on April 25th. I did a resync and I'm waiting to see if they resume or there's another error on my end.
I don't know why it stopped working, but I put in the permalink for the comments URL instead of the actual PHP file and it works again. The day it stopped working was the day I upgraded WordPress. Coincidence?
Apparently its BACK! My reader's full again. LOL.
You have hit upon the difference between a general information website and a personal website/blog.
I don't care about the owner of a lot of websites I visit. But when I come across blogs, I look for the personal touch. If that is missing somehow I get bored.
I wonder whether it's a purely mental barrier.
After all, a blog is only one kind of a website.
hari’s last blog post… Flaky 64-bit support for commercial applications?
General information websites are boring. If the information you need isn't there, there isn't much incentive to return or to keep looking around.
Blogs should never be like that, but a lot of them are.
I agree. Most of the time, I get to such websites only through searching for something specific and I bookmark it only if the information is useful.
hari’s last blog post… Flaky 64-bit support for commercial applications?
Hi RT,
You raise a valid point. I think that generally speaking, it helps to remember that people usually sell things when they're not working too well any more. (but not always)
I think one of the problems is that potential buyers tend to be impressed by the wrong metrics. I don't care if someone has 5,000 + RSS subscribers, buying that blog will probably not be a good deal … for exactly the reasons you stated … RSS subscribers are following the blogger, and will probably leave when someone else takes over.
On the flip side, I think if a blog gets a good percentage of it's traffic directly from search engines, and the posts generally don't contain a lot of personal touches, then it may be possible to make a rational evaluation of the site's potential value.
All that being said, as was pointed out to Marc (of One Man's Goal), if you've got 10 grand to spend, it would probably be much more effective to just find a good aged domain, start a new blog from scratch, and invest the extra money in link building.
But hey, some people just have to learn their lessons the hard way.
Todd
Todd Morris’s last blog post… Tips for Local Niche Bloggers
"if you've got 10 grand to spend, it would probably be much more effective to just find a good aged domain, start a new blog from scratch, and invest the extra money in link building"
Exactly.
RT,
Interesting post and one that caused me to stop and think. In trying to get my arms around the idea of determining the value of a successful blog.
First off, why would anyone trade even a buffalo nickel for a blog? I have to assume that if someone is willing to pay for something then that something has value. The term “value” can mean just about anything. When I refer “value” in terms of a blog I mean that the blog generates some type of revenue or has an audience that fits a particular demographic that advertisers are looking for. If a blog doesn’t generate revenue or have the potential to generate revenue then, at least in my mind, it has no real value except maybe to feed the ego of the purchaser. (Kind of like purchasing Britney Spears fingernail clippings on e-bay.)
My tummy growled and I began thinking of restaurants as it was well past breakfast. I needed this reference so that I might be able to play out scenarios in my mind, looking for reasons why someone might want to purchase a pre-existing blog.
My favorite restaurants have these common attributes:
1. The menu includes food selections that are different that what I can buy at restaurants that are part of a large chain.
2. The atmosphere is a break from the routine and provides a setting where I can relax and feel at ease.
3. The service is delivered in a way that is both entertaining and efficient.
4. And finally, the restaurant is consistent in the way that it delivers the three items listed above.
My favorite blogs have these common attributes:
1. The content is thoughtful and presented in a way that is unique.
2. The layout is unique, uncluttered and easily navigated.
3. The content is entertaining and efficiently delivered. A picture is worth a thousand words sometime.
4. The content of the blog remains thoughtful, unique, uncluttered, entertaining, and efficient.
Scenario 1:
One of my favorite eateries was Bitter Creek Restaurant. The restaurant was really a bar; the lighting is dark, requiring you to sand still for a few minutes after entering until your eyes adjust to the lighting provided by tiny streaks of white light sneaking through tiny slats in the red lateral blinds covering the tinted windows. The bar/restaurant was small, with room for only 4 tables. The tables were constructed using a whisky barrel as the base and the tops were made from the flat portion of the large wire spools used by the power company to store power cable. You know what I’m talking about! The menu was simple and unique including killer sandwiches (including the Bitter Creek) and the best waffle fries I have ever eaten. The owner of the restaurant/bar, Sammy, was a heavy man with a gap between his front teeth. Sammy was a trip, simple minded and funny in a way that was unique and entertaining. When I think of him I am reminded of Bubba in Forest Gump. Sammy used a calculator (not a cash register) to calculate our bill and kept the cash and change in one of those “petty cash” type boxes people use at yard sales. I once asked Sammy about purchasing a cash register. He fingers stopped pushing (punching really) the numbers representing our bill into his large calculator, looked me in the eye, smiled and said, “Scott, don’t need it and don’t trust those fancy computers.” He then went right back to translating the green and white slip of paper with our order scratched on it into his calculator. I don’t think Sammy ever thought twice about the irony of what he said. I guess a calculator wasn’t a computer in Sammy’s mind. I love mining for this type of irony and Bitter Creek and Sammy was like finding the mother lode.
Sammy always made my guests and I feel special. He remembered my name and cheerfully made sure that our drinks were never empty and that the food was perfect.
Upon returning to Phoenix from Indianapolis I was anxious to revisit Bitter Creek. I was craving a bitter creek sub, waffle fries and a cold one (or perhaps two). I was sick of white castle burgers. As I pulled into the parking lot of Bitter Creek I noticed the place had been expanded into the space next door, the old ice cream parlor. There was a faded banner hanging beside the ol’ Bitter Creek sign. The banner read “UNDER NEW MANAGEMENT”.
Despite the warning on the banner, I parked and entered the restaurant. The place was empty except for a couple of kids eating ice cream. The red blinds covering the windows were gone, the window tinting had been removed and the cool tables had been replaced with what were once the cutesy tables and chairs in the ice cream place. I walked up to the newly constructed ordering counter where a pimply faced teen looked up at me from behind a large cash register. The entire atmosphere felt clean and sterile, not at all like the Bitter Creek I had grown to love. I ordered a Bitter Creek sub, waffle fries and a Budweiser. The teen looked at me angrily and notified me in an indignant tone that they didn’t sell beer and that they didn’t have a fryer to make fries. He then turned around, pointed at the menu and suggested I order the Bitter Creek sub, coke and a bag of chips. I think he was relieved when I turned and walked out. The “New Management” had seen the last of me. I was deleting my RSS feed to Bitter Creek forever.
Scenario 2:
My new favorite eatery and hang out is “The Library”. When I ate there before moving to “Nap Town” (Indianapolis) the food was good but the atmosphere was dark, dirty and boring. A couple of weeks go I saw an advertisement in “New Times”, the local Phoenix free rag magazine, indicating the Library was newly remodeled and “Under New Management”. I stopped there last week for lunch after noticing the parking lot was nearly full. The food was still good and the atmosphere was fun. The new Library was spacious and newly redecorated to look like a college library. The seating area was decorated with loads of book cases, books and a check-out counter made to look like a library check out stand. The waitresses were entertaining and they all wore schoolgirl outfits. (Can’t be all bad huh?) Apparently the new management of “The Library” has converted an okay place into one that caters more specifically to its “business man” demographic, providing more of what the demographic wanted.
Okay what is the point?
The point is that if the parallel can be drawn between blogs and restaurants then it should be possible to take something that is good and make it better by catering more to the demographic that visits/subscribes to the blog.
Buying a blog is like buying any business, it might make sense to avoid all the start-up time and cost if the customer base can be increased by marketing or by providing more/better content to the target demographic. It might also make sense to purchase a pre-established blog if doing so will decrease competition (so you can increase your price) or helps decrease incremental costs.
Well, that is my 2-cents worth. I look forward to any feedback. If you don’t leave feedback then at least leave a message telling me where I should or shouldn’t eat.
Scott
I can say one thing, Scott. Your comment was longer than my post!
Comparing blogs to restaurants… Both have people you like or dislike and both have content you like or dislike. The only difference in the analogy is the cost. Restaurants cost money to visit whereas blogs cost nothing. When money talks, we listen more intently.
Wow, I can't compete with Scott's comment, but I agree with him.
I think certain people will relate to a blog that interest them. When the blog sells, if the content is different, or the point of the blog is different you will loose readers.
If you were the authority on a certain topical blog and sell it, then hopefully the new owner will know a little something about the topic too. I do feel for the One mans goal blog owner, I think he did get robbed as he even said he was new to blogging.
Hope all is well R.T. with you and your family!
Elliott from blogexplosion.net
haha, That's what you get for makin' me think.
I look at the long tail aspect of the blog. Does it get a lot of search traffic?
Of the blogs that I have monetized I get 90% of my income from people who arrive via a search engine. I could stop writing tomorrow and my income would remain the same.
Why sell a site like that?
If you're crazy, I can see it. There are a lot of crazies on this series of tubes.
That man who bought the dead blog should have done some research before putting down $10,000. I mean, that is a really hefty investment.
If I was going to sell a social blog I would work at getting lots of guest posts so that readers got used to reading posts by different people.
Blogging is an art form. I mean, lets say you bought the rights to put the name "Peter Howson" on your paintings, people wouldn't buy them if they aren't actually by Peter Howson.
April’s last blog post… Tchai Ovna Review
I cannot sell my blog. I'd rather close it down then sell it..
Just noticed the mention of our purchase of BloggingMix.com so I thought I'd drop a comment speaking from experience. (We also bought ShylockBlogging.com less than a month before, and it's likely we'll continue buying up blogs in this space that are a good fit).
Business plans aside, I wanted to comment on the "what do buyers expect" piece of your question; we look for blogs with a ton of inbound links, niche search engine traffic, and quality well written articles. Unlike other buyers, we'll likely end up scrapping the blog and rolling all of the content into our main site (which is what we did with both bloggingmix and shylockblogging.)
Why?
Most people are scared of change. That is a fact of life. By letting the audience know of your plans, and not merely duplicating what the previous author did, you can prepare them for the transition without looking like a lame copy-cat of the original.
We bought the blog, we're getting rid of it, things are going to change, but if you still want to make money online (which is our niche) stick around and we'll teach what we know. That is the basic formula.
At that point its a 'Yes' or 'No' from the readers perspective (and not a 'I miss ____(insert old blogger here)____'). Most cases they'll stick around at least for a while to see what you have to say. Assuming your writing is engaging and useful you should be able to maintain much of the audience.
interesting insights…I'll keep track of you in my reader
p.s. I shed several tears when I read you unsubscribed from all the blogs you mentioned in your post
Matt
whydowork’s last blog post… I tried, and I failed; what is the secret?
Those better be alligator tears.
Actually, I'm following WhyDoWork, but it doesn't have anything to do with the blogs you assimilated. I found some good stuff there before I found out about the rest.
You raise a valid point. I think that generally speaking, it helps to remember that people usually sell things when they're not working too well any more. (but not always)
I think one of the problems is that potential buyers tend to be impressed by the wrong metrics. I don't care if someone has 5,000 + RSS subscribers, buying that blog will probably not be a good deal … for exactly the reasons you stated … RSS subscribers are following the blogger, and will probably leave when someone else takes over.
On the flip side, I think if a blog gets a good percentage of it's traffic directly from search engines, and the posts generally don't contain a lot of personal touches, then it may be possible to make a rational evaluation of the site's potential value.
All that being said, as was pointed out to Marc (of One Man's Goal), if you've got 10 grand to spend, it would probably be much more effective to just find a good aged domain, start a new blog from scratch, and invest the extra money in link building.
But hey, some people just have to learn their lessons the hard way.
I was going to delete your comment because it doesn't follow the comment guidelines (right above the comment input box), but the comment has value.
And you're absolutely right. A blog getting a lot of search traffic is a good investment, in my opinion, whereas a blog getting all of its traffic through social involvement isn't worth anything without the person who made it socially viable.
I think certain people will relate to a blog that interest them. When the blog sells, if the content is different, or the point of the blog is different you will loose readers.