If you need someone to pronounce, explain or spell your domain/brand or product name, then you have the wrong name!
Keep in mind that nothing will reward you as richly as using a great name for your company or product.
Your name must be memorable to prospective customers and you need a name that is almost impossible to misspell.
I often use Trivago as an example of how not to do it.
The company Trivago must spend millions of marketing money each year (TV commercials, radio, and other channels) explaining who they are and what they do.
The company may now be established and recognised by many customers, but they still confuse people on a daily basis, accidentally sending them to alternative websites.
Without a visual association, people find it hard to remember names and a “cre8tive” name like trivago is missing such a link.
It is not clear how to spell trivago and the company didn’t secure other potential and obvious typo domains.
Just imagine what happens after someone hears a radio spot. “Was it Trifago.com…?” No this is a parked page with some sponsored links. The owner of this domain will make some serious money from all those confused visitors who click on the sponsored links…
Was it trivaco.com..? No, this company offers industrial valve repairs.
Was it… ? Many of their potential clients eventually decide to visit booking.com as a result.
Don’t make similar mistakes with your domain, brand, or product names.
Your brand name must be firmly anchored into the psyche of the consumer, combined with an unmistakable/clear idea of the product or service.
Using a confusing name, will require money and time educating people as to who you are and what you do.
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.
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!
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
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.
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!
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.
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.
Lost a domain by mistake? It happens more often than you think!
Imagine this: you are a website owner and suddenly you find that your website has disappeared, your email has stopped working and an organization or person you’ve never heard of is now listed as the owner of your domain name. To face a situation like this sounds like a nightmare, but actually is surprisingly common.
The good news is, we’re here to help!
How can it happen and what does it mean to be a domain owner?
As a domain owner, also called registrant you acquire the right to use, renew, restore, or transfer for the particular domain name. This is only the case for as long as all fees, terms, and additional requirements are paid and followed. Every domain name comes with an annual renewal fee and the particular terms. When the fee isn’t paid or the name gets cancelled, you lose the rights and someone else can register / purchase it.
The main reasons why domains get deleted by mistake
The owner did not enable or set their domains to auto renew
Renew reminders bounced or ended up in a mail box from a previous employee or spam.
Forgotten to update payment information (expired credit cards)
Turned off renewal notification emails
What can you do to avoid losing your domain name?
Before explaining what to do to avoid losing your assets, it is important to understand some definitions:
The legal owner is an individual or business that registered the domain name. This person or organization has the control of it. Thus meaning the technical control, connection control and also the control to sell the domain.
Registrar and resellers
Domain names are bought and registered through a domain name registrar. There are literally hundreds of domain registrars and resellers in the market. They sells domain names like .com , .net and country code domains like .co.uk, de., nl to the public.
Above the registrars there is the domain registry an organization that is in charge of the general administration rules and terms. Every domain ending has a registry in charge of it. As an example it is Verigisn for .com names, Denic for .DE domains, SIDN for .nl domains. They manage and create domain extensions, and work with registrars to sell those domain names.
The ICANN is a non profit organization that coordinates management of the Internet’s naming system and imposes general rules and regulations. The hierarchy places ICANN at the top, followed by registries, registrars, resellers, and finally, registrants. A little help to understand the structure could be this comparison:
The Government (ICANN) regulates the production, distribution, and quality of the product. Factories (registries) need to produce and supply it to distributors (registrars). The distributor then stocks the stores (resellers) with the products, which is purchased by customers (registrants).
Your domain name is one of your business most important assets.
Do you really own the name?
It is important to understand that if your website is connected to a domain name, it does not automatically mean that you are the legal owner. Quite often website developer companies register domains for clients and not all of them use the name of the client as the registrant and administrative contact. Having the wrong name on your domain registration can cause frustrating and expensive problems.
Domain checklist to avoid losing your assets
Login at your registrar account and verify that you are able to change the holder data and settings.
Check the registrant name, email address and telephone number.
If you use a privacy protection service then also check that account to ensure correct information.
Check the expiration date of your domain and create a reminder to renew it well before expiration.
Set the domain settings at your registrar on auto renewal.
Do not rely on notification from your domain registrar.
Make sure you fulfil the registry rules and regulations of the domain extension.
If you didn’t register the domain name yourself and it is in another person’s or company’s name, ask them to immediately change it into your name and contact information.
Guard and protect your domain names and account at all costs.