Internet Domain Names Can Reap Big Rewards for Small Business
January 24, 2009
(Long Island, N.Y.) Most small businesses these days have a better understanding of the importance of having a web site to compete in this new internet-savvy consumer space. Companies who have tried to delay their move towards the Internet are warming up to the fact that if your business is not online - you’re very likely to go out of business in the near future.
You do not have too look far to find many reports that advertising in the print Yellow Pages or other print publications has changed forever from one of the best ways to advertise to one of the worst in just a few years. (Bill Gates on local advertising: Yellow Pages gone in 5 years) (Quit wasting money on Yellow Page advertising by Peter Fernandez, D.C.) This is because more and more people are using the Internet to find a business listing and this use is forecasted to increase expeditiously over the next few years. For small businesses, finding a way to appear higher on these Internet search engine pages has become a no brainer. Registering a good domain name can be the answer.
It’s like the real estate agents’ mantra: location, location, location. You’ve certainly heard the phrase enough. Your location will define your businesses success and as more businesses move their companies products and services online, a domain name and web site effectively becomes your location for doing business. The name you choose can have a tremendous effect on that businesses brand awareness, sales volume, and revenue.
Unlike brick and mortar real estate, purchasing a domain name involves little hassle and is surprisingly simple and inexpensive. There are no closing costs or lender requirements when purchasing your little slice of pie in the sky. Of course you can manage to find some premium names out there for sale that could cost you thousands or even tens of thousands of dollars to get hold of, but generally, registering a new domain name is quite easy and can be done for as little as $9.00 at many domain sales web sites. If and when you register a domain you’ll be ready to place you business in one of the three “locations”. An excellent location, a mediocre location or a lousy location. Choosing the right name can make all the difference.
Picking the domain that’s right for your business should be done sooner rather than later as each passing day yields less domains which are available for registration. According a tool available by Name Intelligence Inc, statistics show that as of this writing there are currently 78,854,626 active .com domain names with 123,855 which have been registered within the last 24 hours. This makes finding the right name for small businesses pretty high on the priority list.
So how do you pick and choose the right name for your business without spending a fortune? Well, if you’re a painter you can pretty much rule out the opportunity for registering a premium domain like painter.com as most every name like this example is already registered. But if your business involves painting and you’re located on or service the Long Island area specifically you might want to try a more targeted niche or locality and register a domain like longislandpainter.com, if it’s not available try the plural version longislandpainter(s).com. Either way, you want to try and get keywords like these which tailor to your business or services into your domain name if your looking to do well in the search engines for those keywords. A lot of research has been done over the years on this and results have shown that keywords in your domain do play a significant role in where your site pops up on the search engines. These are some of the fundamental secrets to grabbing yourself a great domain name. Make it easy to remember, spell, and type while having your important keywords in it.
Reselling a domain name could also yield huge profits. Domain name reselling has expanded, and many domain resellers are now stand-alone internet businesses. Domain name auctions can provide a reseller with a means to buy and sell premium domains, and a savvy investor can build a successful business around the right generic domain properties.
To view a recent domain auction which was held in New York City click here: http://www.newsli.com/2008/10/01/new-york-domain-name-auction-traffic-yields-3-million-in-sales/
Many companies are purchasing multiple domain names and using them as advertising leverage. It’s a tough time out there for small businesses with the current economic climate, but generally speaking, companies that survive and or thrive, even during tough times like the Great Depression, are and were those that continued to act as though there were nothing wrong and that the public had money to spend. In other words, they advertise. Domains can be a great way for companies to leverage that advertising dollar. A Yellow Pages ad could cost your company in the area of $60,000.00 for a full page ad; a properly used domain name can yeild the same amount of qualified leads, the cost $9 bucks - go figure.
Posted by News LI Editor · Filed Under Tech
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3 Responses to “Internet Domain Names Can Reap Big Rewards for Small Business”
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Always try to think of your future needs when finding domain names. Like names of future products that you can tie back in to your Web site. Also, are their names potential competitors could take that would hurt you down the road. Always think long-term when securing domain names.
- Posted by: John Sternal
I am not sure the comparison between a $60k full page ad and a $9 domain name is a fair one. I think a fairer comparison might be the ROI on $60k worth of pay per click advertising and a $60k full page yp ad.
Having said that, there is a great deal that can be done for free using local search directories like click2connect.com to increase local traffic and sales inquiries.
The main thing is to make a start because diversity of marketing mix is critical to a stable business flow.
- Posted by: Russell
You’re not kidding people are getting rich in domain sales! According to a domain marketing blog (http://domaineer.blogspot.com), a private domaineer sold the domain GeorgeWBushLibrary.com to the foundation running George W. Bush’s presidential library for a whopping $35,000 last week. He had paid only $5 for the domain. Talk about easy money! Many domains are selling in 6 and 7 figures. Recently, the domain Fund.com sold at $9,999,950; Answers.Travel changed hands for $3.3 million; DataRecovery.com sold at $1,659,000; and FinancialAid.com fetched $800,000. Higher-priced domain sales are reported weekly at dnjournal.com.
- Posted by: edwards