Should your business be buying domain names?
By now, we should all know what a domain name is. Most businesses already have at least one of them, at least those that intend to stay in business.
To most, a domain name is simply a place to put a website. It is just something you have to have in today's digital business environment --- nothing more, nothing less.
What many business owners and top executives don't know is that there are many advantages to be had by companies owning large domain portfolios. Not just any domains, mind you - but domains that contain keywords related to a company's respective industry.
There are several reasons why this is the case:
- An estimated 15% of internet users get where they are going by means of direct navigation. That is, they type in the word or term they are looking for directly into the url bar as opposed to using a search engine or directory. Businesses that own type-in domains related to their products or services reap the benefits of gaining first-access to these potential customers. For example, if you were to type-in diarrhea.com directly into your browser, you would be re-directed to Pepto Bismol's website.
- More and more people are beginning to type-in domains with extensions other than .com. Many of these non-dot com domains are still available for registration. This trend should only continue into the future as the number of internet users increases, along with their knowledge and familiarity with the various domain extensions.
- The domain industry is still in its infancy, and prices for quality domains in all extensions should only increase from this point into the indefinite future.
- As with the Pepto Bismol example listed above, there is a certain level of prestige associated with having generic domain names forward directly to your company's main website. From the internet user's perspective, a company looks like an authority on a given subject when internet users find their site by typing generic words/phrases into a web browser.
- There are far more businesses in the world than there are high-quality domain names. Once the business world catches on, what little quality real estate is still out there will disappear fast, as is already starting to happen.
The bottom line is this: if your company does not already have a stellar portfolio of domain names related to your industry or trade, you'd better get on the ball quickly, and get what you can before the competition beats you to the punch.
By: Peter F. Egan Jr.
October 16, 2007
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