Now that you know what are premium domain names and why they are so valuable, what is the value of Your perfect domain name for Your business? How do you measure that? How do you put a number on something that you don’t have? We’ve covered some domain appraisal tools, but let’s face it, what does it matter if an automated tool values a domain at US$ 10,000 if not owning that name costs you that per month, limits your growth and puts your business at risk?
There is a simple way – the answer is in the question. Let’s look at what does it cost you Not having your perfect domain name.
For each of the points below you can put a value estimate, taking into account the size of your business, your marketing spending and overall advertising budget.
Imagine another business acquires your desired domain name. They now have a domain name that matches your brand name, better than your own domain.
Potential clients, partners, investors ending up on another business’ site. This may be a competitor, a business completely unrelated to your activity or a website that is detrimental to your reputation.
All your advertising budget actually working for another business.
Increased marketing cost to clarify your correct web address.
Loss of credibility with potential and existing clients, partners and investors.
Your domain name has a geographic extension (.co.uk, .com.au, .fr, .it etc) and you are going global.
Customers worldwide naturally tend to trust .com. Local extensions work for local markets so you risk alienating or completely losing your audience outside of the country of origin of your domain name.
Increased advertising budget to reach customers and gain their trust. Loss of traffic due to local extensions not ranking well globally in searches.
The return you get on every dollar you spend on your brand promotion is directly related to how many clients you get out of it. The harder you make it for people to understand, remember, spell, type and pronounce your name, the more likely you are to lose them before they get there.
Losing direct traffic.
Confusing and losing customers.
More funds spent on advertising, since you need to work harder on making your prospects, customers, partners and investors remember your name.
Lost trust and important information in missing emails.
We hope the above information is of use to you when making a choice about your brand’s future. If you’ve made a choice already, here is a cheat sheet on how to secure your desired domain name for your brand.
You can download the information in pdf format below.