remesas.com

Value 1st and 2nd + years​

The valuation for the first year is around $350K taking into account $1MM+ in revenues for the year. For the 2nd years and ahead the value jumps to 4MM+ with revenues reaching +10MM. The potencial is much larger since smaller countries in Latam have banks that handle $500k to $1M in revenue per month.

BRIEF STORY

Back in 1994 I was working at ADI Corp. as Chief Knowledge Officer, a multinational conglomerate that owned a few banks in Central America, amongst the 172 other companies they had scattered between NY down through Ecuador.  I remember a heated discussion weather or not to take advantage of this remittance business.  The top of the banking guild’s opinion was that the remittances was a transitory phenomenon with a dusk long overdue. The men that fled the civil war in Guatemala, El Salvador and Nicaragua, were not going to continue sending money for much longer. It had already been 10 years; they were getting old and started new families.  What about the whole families who left and were sending funds back to their mothers and fathers?  They were supposed to get old too, have children and grandchildren, therefore stopping the influx of money shortly. What about the children born in the USA? Well, they were not supposed to have any ties to their relatives in Latina America. The phenomenon of remittances was long to be overdue and why should the bankers invest in this new line of business.

They were all wrong! Remittances is a testament of the tight social web of Latin Americans.  It is kind of a tithe! Not only has the influx of money not stopped, it has grown to a USD 100 Billion industry! And growing!

Recently I had a talk with a warehouse manager. Manuel de Jesús Castillo born in 1981, this year 40 years old, expressed his frustration about being unable to get a better paying job. In January this year 2021 he requested me – as a favor – to be fired, in order to get his severance pay. He needed the money to pay the “coyotes” to get him to South Carolina where two brothers in law told him they could use a hand.  He left his wife and two children behind. His aspiration of giving his children the opportunity to go to college or university and a better quality of life was his driving force.  As I tried to talk him out of it, he insisted that with the end of the Trump Era he was going to get to South Carolina. All I could do is wish him well and I hope he is doing OK.

REMITTANCES IN NUMBERS

For six consecutive years, the University of Pennsylvania has ranked the Dialogue among the top US and foreign policy think tanks. In 2014, London’s Prospect Magazine named the Dialogue “US Think Tank of the Year” and in 2017 it was honored as the “One to Watch“.

As you may already be a member of RIO, the Remittance Industry Observatory, I do not need to point out all the numbers (I am sure you know them, do you?).

Remittances as percent of the GDP - 2019

https://www.theglobaleconomy.com/rankings/remittances_percent_gdp/Latin-Am/

For many countries it has become an indispensable cog of their GDP, although technically remittances are not part of the GDP.

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Remittances Market Bounced!

The market fell during the COVID, but in 2021 it has broken a new record.

The remittances, despite all odds, have bounced back to new record highs.  This is good for the remittance markets and recipient countries.

The players

The main players in the remittance business are:

  1. Western Union – https://www.westernunion.com/us/es/send-money.html 
  2. MoneyGramhttps://www.moneygram.com/us/es/enviar-dinero-en-linea 
  3. Wise https://wise.com/es/blog/wise-latin-america-remesas-mexico 
  4. Ria Money Transfer  – https://www.riamoneytransfer.com/us/es 
  5. Xoom – https://www.xoom.com/es-mx/ 
  6. Remitly – https://www.remitly.com/us/es/nicaragua 
  7. WorldRemit – https://www.worldremit.com/es 
  8. Azimo – https://azimo.com/en 
  9. Remessa Online – https://www.remessaonline.com.br/ 

 

Yet the growing business and increasing pie size has opened up for new players. Are you taking advantage of this market growth?  These are few of the relevant new players:

Difficult to remember, write and speak

All of the above share the same problem, names that are difficult to remember, write and speak.  Remember Manuel de Jesús Castillo, when I asked him how he was going to send money to his family, he smiled and said: “I don’t know, I will Google remesas.”

Western Union is perhaps the biggest player followed by MoneyGram and RIA.  Western Union growth has stagnated and the rates are falling. Remitly has a better business model. Other players like Remessas Online originally targeting only Brazil is expanding aggressively. Xoom is based on the PayPal model, they already had a hammer, hence everything looks like a nail.

All share the same problem; the names do not mean “remesas” to the migrants.  Remesas.com is easy to remember and packs all the meaning. This new age of migrant workers also share a common trait.  They have a smartphone or a computer and know how to use it.

POSITIONING

“I don’t know, I will Google remesas.”, told me Manuel de Jesús Castillo when I asked him how he was going to send the money.  This got me thinking…

The potential of this domain remesas.com has not been seized, it has had a winter sleep, parked and used to forward to an unrelated topic domain.

Just by using Google AddWords research, I found out that remesas is a word that is positioned as high as Western Union. Only Western Union pays five times more to bid for the top of the page. Remitly and other Western Union followers’ bids range from 10 to 17 times more achieving the same results, this is probably why Westen Union is stagnating in a growing market. Xoom is kind of in between in its bids but achieving – half – as many hits as their competitors.  Remessas Online is even targeting the Spanish speaking countries with advertising in Portuguese. Many of the players are fighting for a keyword market that is in the mid to high competition range vs low for “remesas”.

The keyword “remesas” in its winter sleep has been doing outstanding without any investment or effort. This content is the first time it will be crosslinked to different sites, it will rank even better with very little effort shortly.

Benefits of Using Multiple Domains for Your Business

Western Union might not be interested in the remittance business anymore, therefore falling in the marketshare and also on top of diminishing fees due to the competition. If this were the case, one use for remesas.com might be to segment the market.  Just ask Manuel de Jesús Castillo, the word he knows is “remesas”. Spanish speaking people use the word remesas to refer to sending money back to their loved ones and relatives. This is a direct product, for a specific market! Think about the investment in maintenance of some of the brand names mentioned above, it is a huge financial drag. There is a lot of explaining.  This particular target group wants only one thing and one thing only. Send money in an uncomplicated way.

Also, you can use the Search Engine Optimization strategies to increase your hit rate by pointing to each other domains. It is well understood that if your domain name contains the name you are searching it ranks much higher automatically and with a lot less investment. You can funnel traffic to your site. Las posibilidades son muchas. Depende del grado competencial de su equipo de estrategia digital.

También, you can use it to protect your brand. Should I elaborate this further?

Grow your userbase or Brand Value

Any value is in the eye of the beholder!  SEDO.COM estimated a value based on similar domains. What is similar? Does it also have a USD 100 Billion growing market with still lucrative fees?  Their core valuation is using the differential between what is currently the bid value to position the keyword compared to other keywords or competitors. This is a good base value to have an idea but ignores other aspects.

The real potential is in the growth and increased userbase. You have to make your own calculations. Based on the Damodaran user valuation model, the value of a user is very dependent on your business model and market share.  Yet there is a common base for all user-based models. Although very small in today’s day and age, the remittance market size is between 10 million to 30 million users. The average remittance is between USD 400 and USD 200 per month, it varies between players. The total Hispanic population in the US surpassed 60 million in 2020 not counting the illegal aliens. The Latin American recent diaspora globally about 100 million souls large. How much is a 1% increase in user base for you worth in revenues? How much is your user maintenance cost? How much is your administrative drag per user? This is the beauty of online businesses.

Calculating the value of the domain depends on the buyer. If you take WesternUnion fees and their market share – and they want to grow this market – it becomes an indecent sum, but it seems they are no longer pursuing this market. An opportunity for the rest? If you take RIA or Remitly business model who is aggressively buying into the market, the amount is not as big.  For XOOM since their focus is not very clear it is difficult to tell, and it has a lot more brand drag than others. It seems that Remessas Online is aggressively trying to grow into the Spanish speaking countries, or it is wasting a lot of money in bad targeted advertising with Portuguese Ads for a Spanish speaking target group. What is your market share of the monthly userbase? What is your growth potential owning this domain? The remittance market has ben a very noble one, allowing for a lot of mistakes in how to approach the userbase. As it becomes bigger, growth rates will decrease, and the market will become more competitive. Are you ready?

But you know all this, right?  If you assume that you might grow you userbase 1% by owning remesas.com. How much is it worth to you at perpetuity?

Brand Finance uses another model to put a value to something like remesas.com.  A brand is not a name, a company, a logo, a product, a person, an ad campaign.  A Brand is a promise! A promise that creates expectations, interaction, satisfaction and loyalty. What a perfect word “remesas”! The meaning is intrinsic!

A strong brand has benefits to critical dynamics of any organization. Getting credit for what we are already doing. Making marketing investments work more cost-effectively. Helping control the image of the organization. Developing strong preference over competitors. Making the bright future of the organization clear to all audiences. Helping create value for the organization. Building the right perception among new prospects. Driving more qualified leads. Guarding against downturns. Setting an expectation for new products and services. Attracting talent to the organization. Creating positive word-of-mouth.

Not everything is automatically achieved by remesas.com, but 9 out of the 12 statements in the above paragraph which defines brand value. According to Millward Brown, the brand itself accounts for more than 30% of the stock market value of the companies in the U.S. S&P 500. “REMESAS.COM” is not a magic bullet, nor will it catapult anyone through the roof, but it will definitely position the company to gain market share.  Remesas.com is a direct way to convey a message to the segment of the target group of the Hispanic remittance market.  If we use this Brand Finance model, the value might be higher.

Everyone must make their own numbers. One suggestion, also try to figure out the numbers of your competitors for the bidding. It is probably not for Western Union because it is not interested in the remittance business anymore – or so they say, like the fox and the grapes – the aggressive players have the potential to do the best of remesas.com. 

CONTACT US

Cross linked Keywords

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