As you probably know, domain names are the digital real estate upon which we build our businesses by providing a portal for customers to reach us. And domains have never been more valuable or important. There are 4.27 billion Internet users in the world, and a website provides access to each and every one of them.
However, as the digital landscape changes, it’s becoming more and more difficult for business owners to come up with a domain purchasing strategy. For one, most one-word .com names have already been taken. And it seems like new gTLDs are being added to the domain extension list every day. With so many options, business owners are faced with a whirlwind of decisions to make when buying a domain.
These conditions make for a situation in which businesses may not know which domains to purchase for their business to be successful. This article discusses three keys to success when purchasing a domain for your business.
1. Get the .com first
No matter what your domain name choice is, you should always acquire the .com first, even if that means spending thousands of dollars. The value of having the .com name cannot be overstated. Even with the rise of gTLDs, .com is still king. It’s the default extension that people expect to use when visiting a website online. So naturally, .coms get the most traffic.
Now there is a caveat with this – if you are a niche or local market, and not as concerned with the highest amount of traffic, purchasing the.com may not be completely necessary. For example, if you operate only out of the UK, .co.uk may be a perfectly viable choice for your business. The goals of your business play a huge role in your choice of domain.
No matter, if you do decide to go with a gTLD for your main use, it’s always a good idea to also acquire the .com for use as a redirect. This way, you don’t lose any traffic when visitors use the .com instead of the gTLD.
2. Research gTLDs
While you should always have the .com name, it may be beneficial for your brand to acquire a gTLD as well.
This may be through a domain hack (a catchy name/extension combination). One well-known example is bit.ly. Interestingly, however, the owners of bit.ly own bitly.com, showing that purchasing a catchy gTLD should be part of a larger strategy that includes owning the traditional .com name. This helps protect the brand and provide the brand with the highest potential traffic.
You may also want to look into a gTLD if you are a local business. For example, you could acquire a domain with a city gTLD such as .hamburg or .london. Again, however, depending on your goals for customer reach, it’s a good idea to purchase the .com for the maximum potential traffic to your website.
3. Work with a domain industry professional
Have you ever tried to fix something up at home, only to end up hiring a professional? The frustration is real when you realize you wasted precious time and money on something that probably required a professional in the first place. It’s the same in the domain world. Going it alone can lead to frustration and wasted time and money. For example, you may get fleeced in the negotiation process, or you may end up with a domain that is poor for search engine optimization (SEO), or you may end up acquiring more domains than necessary.
Resist the temptation of searching GoDaddy for a bottom-dollar name that won’t give your business the exposure it deserves. On the other hand, resist the temptation of finding the domain of your dreams and emailing the owner, and biting on the first offer. To make sure you have the most effective domain acquisition strategy that gets the most bang for your buck, you should hire a professional.
Our domain broker professionals at Saw.com know the ins and outs of the domain industry, including buying, selling, and (last but not least) valuation. Domain appraisals are especially tricky, as the domain market is completely unregulated and comparable sales can be a crapshoot. This means there are many out there looking to take advantage of unexpecting, inexperienced buyers in the domain market. Luckily, the experienced brokers with Saw.com have years of experience in buying and selling domains and have appraisals down to a science.
Take the Next Step
When you work with Saw.com, you can be certain that you’ll acquire a great name at a great price, saving you time, money, and peace of mind. For help in choosing a domain strategy, contact a Saw.com professional domain broker today. We will discuss your business goals and work with you to come up with an effective domain acquisition strategy. This way, you can focus on the things that matter to your business and leave your domain acquisition to a group of seasoned professionals.