Your domain name is the .com, .net, .org or some other dot something
that people use to get to your web site. affiliateblog.com is mine.
A
group of investors headed by Jake Weinbaum (the guy behind Disney's
go.com) paid $7.5 million for the name Business.com back in 1999, aiming
to make it a showcase B2B site. According to their own press they have
succeeded. Yes, it's a terrific name - short, sort of descriptive and
easy to remember. There's some cachet there, but is it $7.5 million
worth? That cash could have bought a lot of promotion or branding for
whatever name they could have had for ten bucks, or a hundred, or two
hundred grand.
Each year for 15 years The first $500K in profit
goes toward amortizing the cost of that domain name. That could also pay
for a terrific affiliate program, a truckload of banner and PPC
advertising, and a nice BMW lease for Mr. Weinbaum (who probably doesn't
need a BMW).
But the Business.com thing has set off a wave of
domain name speculation that staggers the mind. People are snapping up
domain names and ransoming them off to wide-eyed entrepreneurs with
business plans and dreams of riches. Being a hardcore capitalist I am
torn about domain name speculation - I am tempted to applaud the person
making a buck by getting there first and grabbing up the good names, but
I am annoyed at the restraint of commerce that takes place while
someone negotiates with one of these guys to get the right name.
So
if I look at the top 50 websites on Alexa, most of them should be easy
to remember names, right? Wrong. I would argue that only one, match.com,
is an easy-to-remember name that describes what the site is about.
I
keep hearing that the reason these so-called generic or descriptive
domain names are so valuable is that some people just type domain names
into the address bar of their browser rather than using a search engine.
This fact seems to be intuitively false. I find it hard to believe that
someone looking for information on a particular business would type in
www.business.com. Furthermore, if I look at the top 50 websites on Alexa
only one, match.com, is an easy-to-remember name that describes what
the site is about.
I wondered how many people actually type in
their address bar (address bar?) instead of using a search engine
anyway. I didn't find the answer, but Jupiter Media tells me that 64% of
people looking for something use a search engine.
That means
that 36% of people use something other than a search engine. What makes
me believe that people typing stuff into their address bar doesn't
happen much is this simple fact…of the people using search engines last
November, 43% searched for common websites like Ebay. In other words,
instead of typing in http://www.ebay.com, people Googled Ebay and
clicked on one of the results. That is absolutely hysterical. And
totally believable.
What do all these facts mean? They mean that
as far as getting the person there the first time, everyone starts off
on the same square. If your domain name can get the minority of people
who just type into their address bar to your website without a search
engine, it's worth more than someone who can't.
Here are some of the legendary domain name sales in the past several years, according to Zetetic:
$14,000,000 - 2006 - sex.com
$7,500,000 - 1999 - business.com
$5,500,000 - 2003 - casino.com
$5,000,000 - 2002 - asseenontv.com
$5,000,000 - 1999 - korea.com
$3,500,000 - 1996 - worldwideweb.com
$3,350,000 - 1999 - altavista.com
$3,300,000 - 1999 - wine.com
$3,000,000 - 1999 - eshow.com
$3,000,000 - 1999 - loans.com
$2,750,000 - 2004 - creditcards.com
All
of these with the exception of eshow.com (computer networking) should
get address bar traffic, because people who type will type in the
descriptive names - if I'm looking for sex-related stuff, I'll type in
sex.com. Where my mind gets boggled is in ROI. If you're selling
something on asseenontv.com that nets you $25, you'll need to sell
200,000 of those George Foreman grills just to pay for your domain name.
It also dawned on me that if you pay $12,000,000 for sex.com, the free publicity generated is probably also worth millions.
So
now everyone gets dollar signs in their eyes and thinks they can make a
million with their domain name. Here are some examples of asking prices
from Ebay:
6usiness.com (yes, that's a 6) - $7,000,000
ajobformom.com - $3,500,000
Exbay.com - $1,000,000
What
does this mean for you? Well, there's some good news and some bad news.
Remember back a few paragraphs when I said that everyone starts on the
same square? That's really the good news. You can choose a pretty good
domain name, put together some terrific content, employ some simple
Search Engine Optimization and buy some keywords or exchange some links
and you have a pretty good chance of getting people to your site the
first time. Since most of them are coming via a search engine they're
not going to notice your domain name until they get there anyway, so
your domain name means the same thing (nothing) to the majority of
people using the search engine.
One last thing: if you're hoping
to be close to the top in the search results (the so-called organic
SEO), having your keywords in the name of your website gives you a huge
boost. For example, if you're looking for affiliate blog, we will be in
the top five search results. In this case, Google ignores TLD unless you
tell it otherwise. Affiliateblog.info will come up before us because
their pagerank is higher (that's a discussion for another day). So if
you think getting near the top of the organic search results is more
important than having someone type your name directly into the address
bar (and you very well could be right), then grab yourkeyword.cc or
yourkeyword.to. I've done it, and I've suggested it to others.<
Once the user comes to your site the name just needs to be memorable
enough so they type it in to get there the next time. Or they may forget
and Google you again. I do it every day. No matter how great your name
is, if the content is lousy they won't come back anyway.
So
should you buy a domain name? I don't know - I bought this one. And I
made honorable mention in the Domain Name News for the price I paid
($2500). I bought the name because I liked it, I liked the number of
incoming links to it, and I felt comfortable paying for it. I've never
paid more than a couple hundred dollars for a domain otherwise, and I
have more than 200 of them. My favorite by far is Blozzo.com, which I
just bought for $25. I have a pretty terrific idea in mind for Blozzo
too.
I would try to come up with my own name before I bought someone else's. Here are some tips:
1.
Try to go with a .com. It's the name everyone associates with the
Internet. Any other Top Level Domain (TLD) like .org or .net is just
going to confuse people, unless it sounds better than the .com. For
example, if you are about networking or a network, a .net is more
natural. If your site is informational, you should use .info if it
sounds okay. One of my favorite $10 domains is seosecrets.info. I think
it sounds good. Hands down the most ingenious use of a TLD is
del.icio.us, the social bookmarking site. The use of the .us TLD is
absolutely brilliant.
2. Leave out the dashes and meaningless
numbers. If it's a choice between this-domain.com, thisdomain123.com and
thisdomain.net, take the .net. No one remembers to put the dashes or
the numbers in, unless they are an integral part of the name like
studio54.com or e-books.com.
3. Use the fewest letters possible
to describe what you do. I own Purple Monkey Media Group.
Purplemonkey.com would have been perfect. It's taken, of course.
Purplemonkeymedia.com was not. I grabbed it. I could have taken
purplemonkeymediagroup.com, but it would have been too long. Remember,
every additional letter is a potential typing error.
4. If you
have a domain name that needs to be reinforced, get a good logo and
sprinkle it liberally on your web site, along with some slogan that will
reinforce the name in people's minds. You would be surprised at how
inexpensive this can be.
5. If you can save a few bucks with your
own domain name or by buying a cheaper domain name, do it, and use the
money to get yourself placed higher in the search results or Adsense
placement.
6. If you can't come up with a descriptive domain
name, go the other way. Depending on your site's focus, pick a memorable
short name that will stick in people's minds, get a great logo and
include the name prominently in your advertising and marketing. It's
called branding, and it's tried and true.
7. Ask your wife,
friend, boyfriend, husband, dog, lawyer, associate, Mom, Dad, cousin,
uncle, Police Chief, blog writer. They're smarter than you anyway, and
they are going to be the one looking for the site, not you. Some of my
best ideas have come going to or from somewhere with my wife and just
brainstorming.
Here's the bad news: it may take you a while to
come up with the right name. There's more good news though - in the real
world most domain names sell for $1,000 or less.
Can't get
started? - Go to a site that sells domain names, and put in a word that
describes your business. See if the name is taken (it probably will be).
Open your word processor or go to thesaurus.com and put the word in.
Get a few more words. Check those. If there's a .com available and it
looks good, grab it. If not, add the word site or blog or online to your
word, and see if that works. Don't wait. If you think it might be
useable, spend the $9.00. I came up with blogduck.com. I liked it. I
decided to think about it some more. Someone grabbed it that afternoon.
Just chisel loose the nine bucks (or less) and buy the domain.
If
you want something a little more sophisticated there are several sites
that are good for helping you come up with a name, like DomainsBot and
Nameboy.
If you draw a blank, go over to Sedo or Afternic and
see what's for sale. Search for a word that describes what you think
people will associate the name of your site with, and see what pops up.
That may give you some ideas.
These sites and more can be found in Tools section of http://affiliateblog.com.
Domain Name Journal tracks domain name sales. Going there is always fun.