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Are domain names fundamental for online business?

Domain research

There’s a lot more in a name than you can imagine…

If something has no name it simply doesn’t exist in our brains! Somehow the billions of neurons in our brains, seem to work like that.

When a child is born, it gets a name, as soon as an artwork is created – it gets one too and the same happens as soon as a company is started.

Names are everywhere and we use them for everything.

It always has been a vital aspect of any civilization. The use of them is one of the key factors of being recognized and having success in trading and business.

Do you need a premium domain for your business?

Most big corporates understand that they need great domains to get more trust, brand awareness and as a unique striking appearance.

Therefore it’s absolutely not surprising that most of them own their exact match domains. For online business it is the best way to secure more requests for quotations, appointments, assignments, orders, visitors, new employees and customers.

Some examples:

  • Netflix acquired the domain name fast.com
  • Bank of america redirects loans.com to bankofamerica.com
  • Microsoft uses office.com
  • Weightwatchers.com aquired ww.com and all country code domains.

Important! Not only for big corporations.

When someone says your domain is important, some business owners may dismiss that as something that is reserved for large businesses only and they can’t afford or don’t need such names. That could not be further from the truth.

A good domain creates credibility

and therefore is a firm foundation that sets businesses apart from competitors. It helps attract investors and shows potential customers that you are trustworthy and a real (genuine) business. In many ways, the domain name is the face of the business. It includes the company’s name and business email address and is going to influence your marketing and advertising strategies for years to come.

Buying a great domain is an investment that will help you stand out from the crowd and shine in the online world.

But let’s slow down and take a step back.

What exactly is a great domain?

Great domains have the following key ingredients:

  • Easy to remember, you want people to remember your domain name and type it accurately.
  • Simplicity, you don’t want people to explain the domain.
  • Dictionary words often are great.
  • The shorter the better.
  • Highly brandable, it helps to distinguish yourself from your competitors and create a strong brand.
  • Profitable content can be matched and there is a big market, the more obvious – the higher the value.
  • .com and the country code extensions of your market, your domain needs the right extension. Avoid hyphens and numbers and new extensions like .xyz, icu or others.

Using the wrong domain is a security risk!

internet security
Security risks

Apart from confusing your visitors, using the wrong domain or extension can be a huge security risk. Emails might end up at your competitors mailboxes!


Did you know that domain names are financial assets?

A purchased domain would not even be a marketing expense, its resale value would never diminish. Companies can keep them as assets on the books forever for what they paid for it. They quite often have liquid value and can be resold (see link sources below).

Your internet traffic and freedom.

Most importantly, there’s no middleman between the owner and the visitor. In other words, it means freedom! If you own it, it is your traffic. You can do whatever you want with it. Develop it, use it for email or decide to sell it some day.
After market

After-market value.

Domains once registered by another user are referred to as after-market, or secondary market domains. They become available for purchase when the owner decided not to renew it or when they are listed for sale. For first-time buyers and people not familiar with the domain name industry, it’s important to realize that good domain names are incredibly valuable today. The owners quite often get offers every day or multiple offers per month. No wonder that some names sell for ten thousands, hundred thousands and some even for millions of dollars.

Elon_musk_tweet_tesla
Tesla.com 11 million

Tesla Motors inc. had been using TeslaMotors.com for many years. Tesla CEO Elon Musk has always seen it as more than a car company and wanted the tesla.com domain name. Musk’s company finally managed to purchase it for $ 11 million USD in 2016 and rebranded to Tesla inc.

It is a one of a kind and a sellers market

A seller’s market occurs when demand exceeds supply, or there are more buyers seeking to purchase than there are available products or services on the market. In the domaining business, this often leads to multiple buyers being interested in a single name, sometimes even resulting in bidding wars.
The times of real bargains for premium names are history. More and more people and companies recognize the value. Good negotiation skills help and an experienced broker that understands the business can help the buyer and seller to close the deal.

Owning a domain name is like a digital key to be able to do independent business on the internet.

A great domain name gives the possibility to create a strong, memorable and intuitive brand. It will add massive value to your company and it will be a strategic advantage and working asset.

Own the name – win the game!

Interested in our experienced domain buyer brokerage service?

Buymyname.com can help you getting the domain that you really want!

Contact us for a free consultation!

Sources:

Acquired Domain Name Costs Are Amortized Over 15 Year Life Per Chief Counsel Advice

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Tax Treatment of Domain Name Costs

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Domains control subconscious behaviour?

During a short impromptu vacation

I recently visited a small running store. The store did not stock my preferred and trusted shoe brand, but as I had forgotten to pack my running shoes, I needed an alternative. I tried on the cheapest and most expensive models from another brand and was pleasantly surprised. Both shoes were great, but I decided to purchase the more expensive of the two I had tried.

What affected my choice?

Back at the hotel I asked myself: Did the price alone affect my choice and how had I arrived at my decision to purchase the more expensive model, despite being equally happy with the cheaper alternative from the same brand?

Would I have bought the cheaper shoe, if I had been told that it was the more expensive of the two models… Of course, it is hard to predict, but I imagine I would have taken the most expensive model, believing that the price reflected it’s superior quality.

Neuromarketing

Neuromarketing

Consumers make almost all of their decisions subconsciously and neuromarketing is all about how your subconscious mind controls your behaviour. Marketers want to understand and predict the purchasing habits and decisions of consumers.

It’s no surprise that neuromarketing is so important for internet businesses. Starting with homepage design – colours, pictures, navigation, and pricing and going far beyond. Internet marketers have been using tools such as eye tracking, Interactive videos, artificial intelligence, storytelling and social networks to maximize response and conversion rates for many years.

Every day we make thousands of decisions.

Some sources suggest that an average person takes around 35 000 choices per day. 

https://go.roberts.edu/leadingedge/the-great-choices-of-strategic-leaders

Have you ever thought about how visitors experience ‘Your’ company domain name ?

Whenever people are surfing the internet the domain name is always visible at the browser bar, especially on mobile devices -it’s right in your face!

Smart companies understand the value of a strong domain name in influencing behaviour.

Does Your Domain say “Trust Me?”

A great domain is one of the best ways to gain trust and credibility and will help you gain the attention and success you deserve!