Recently we have witnessed quite a few mega acquisitions of premium domain names. With businesses willing to spend millions of dollars on domain names, there is a fast-growing realization that exact match keywords are valuable digital assets. Before Google became ubiquitous, most people looked up websites by typing the domain name into the browser, which made it important for the website name to be a single generic word. However, in recent times, many companies have shifted to “exact match” domain names, typically single-word brand names, perceiving them as strategically important and incredibly valuable.
Common Ways of Acquiring Exact Match Domain Names
Earlier businesses would add another word to their domain name even though their domain name was a compelling word found in the dictionary. For example, Extend began its online journey as HelloExtend.com, but after realizing the opportunities they were missing out, changed its domain name to Extend.com, an exact match domain name. However, since it can be difficult to find exact match domain names with a .com extension, many companies found a workaround by going with other less popular top-level domain names. However, since most users were still liable to go to the .com website by mistake, it forces many companies to invest considerable amounts to buy the .com domain name. With more businesses realizing the value of exact match domain names, entrepreneurs are increasingly making a smart move by acquiring an exact match domain name from the very outset.
Why Is an Exact Match Domain Name Valuable?
If your business, brand, or product has a single word name, an exact match domain name is perhaps the most valuable asset you can have. Buying an exact match domain name is the single most important strategic investment decision you can make. While you can blow up around eight million dollars or more on a 3-second TV commercial at the Super Bowl that may or may not click with the audience. However, you can spend a similar amount on purchasing an exact match domain name. A stro0ng domain name is amortizable, appreciating, and resalable asset on your balance sheet. It will also add significant enterprise value. It is also important to remember that over time, you could spend much more money to advertise a less memorable domain name.
Everyone knows the value of location in the real estate business. You must never forget that the address people use to access your business online is the company’s real estate on the internet. Your business acquires the authority and credibility needed to get the clicks and conversions you want with an exact match domain name. The memorability makes it an investment that provides handsome returns and continuously appreciating value. You must appreciate that an exact match domain name is the scarcest of domain names since only one exists. Its limited availability and the fact that if it goes off the market, it will likely not be available forever give it immense value. Not having the exact name can significantly impact your branding, marketing, finances, and enterprise value.
Top Benefits of a Strong Domain Name
Deciding on a domain name is critical, and you should never attempt it in a hurry. You must not forget that the domain name is the most valuable marketing asset and online search tool potential customers can use to visit your website. It is easily among the most important and strategic business decisions you can make, which is the reason you should make an informed and considered decision.
A strong domain name indicates the nature of your business, makes you distinctive from the competition, and adds authenticity and credibility to your business. Good 3 letter domains provide essential visibility to your business and brand in the online marketplace for creating awareness and attracting eyeballs. Additionally, a strong and vibrant domain name establishes your business as forward-thinking and tech-savvy. Because of these positive attributes, many companies that do not sell online also have an online presence with a compelling domain name.
A domain name also provides much-needed mobility because it is an asset you can control if you want to shift from one host to another or expand your footprint to another country. With the ownership of a domain name, you do not have to worry about having to start building your brand all over again from scratch.
A powerful domain name that users can easily associate with your line of business also helps to boost your search engine rankings for the target keywords. It is because, with time and constant effort to host high quality and relevant content, search engines will recognize your authority more and rank you higher in the search rankings.
Deciding On the Domain Name – Important Pointers
Your brand identifies the company, its values, and what its promises to deliver to its customers. There is no reason why your domain name should be anything different since it is intertwined intricately with your brand name. You should learn about the various domain name types before choosing one for your business. The ideal domain name should be able to direct your target audience to your website without any confusion, so you should ensure your domain name is distinctive, relatable to your business and brand, and memorable. According to Forbes, it is better to keep the domain name short, simple, and easy to spell to make it easier for people to type the name into the browser. Try not to have words that can confuse people. Also, avoid using numbers and hyphens since they can confuse and frustrate users. It may help to use keywords in the domain name but using the brand name is better. Try to choose a .com extension since users are familiar with them and tend to trust these domain names.
While an exact match domain name, preferably with a .com address is ideal, it can be difficult to find one given the scarcity. If you find the domain name already taken, you may benefit by finding out if you can purchase it if the company is not using it, has gone out of business, or has bought it as an investment. The benefit of a premium domain name is the good fit with your business, high credibility, and the potential to attract traffic.