We have early posted an article to explain why a dot domain name is important to a business. In fact, a dot com domain name needs to be a premium dot com domain name, and if you can afford, you should use a category-defining dot com domain name like money.com.
Just today, Elliot Silver, a domain name investor and an online magazine publisher, cited the founder of honeymoons.com as saying that the acquisition and use of honeymoons.com “resulted in a 7x increase in traffic and a 10x increase in revenue.” The owner used honeymoongoals.com which is like garbage. They said the owner spent a mid-six digits on the domain name.
About 15 years ago, the owner of nuts.com like many others who are able to have acquired a category-defining domain name nuts can tell you how a domain name like this can dramatically help boost your business. Nuts.com, which cost the owner more than $700,000 does not even brings too much traffic to their website. But because of the domain name, their business is growing exceptionally well.
Many businessmen do not realize how important a premium domain name can do to help their businesses. They mistakenly believe a domain name is simply a web address used for a website and email addresses. When you use a lousy domain name, people do not take your business seriously and they do not trust your business.
Ambitious entrepreneurs should spend a substantial percentage of their fund on acquiring a premium domain name if needed. We heard a story telling us that a startup spent almost 30% of their angel-invested fund in an amount of more than $500,000 on a top domain name. Guess what? Because of the domain name, they were able to receive much more second around investment. Their investors recognized the importance of a premium domain name to their business.
If you are serious about your business, show your customers by showing them that you invest a lot even on a domain name. Spending lots of fund on a domain name means you are serious and financially able. This action per se indicates that you are a serious businessman.
Unfortunately, many startup entrepreneurs can only pay thousands of dollars. Many more who afford to, but do not want to spend much on a domain name. One good piece of advice to keep in mind is that the actually cost spreads over years. The upfront payment can look cost-inhibitory, but when you spread it over a few years, you would find it actually manageable. Those who really cannot pay a large sum upfront should consider a lease or lease-to-own plan. Nowadays, many sellers are open to a lease-to-own arrangement.
How do you know a domain name is the category-defining domain name? Simple answer is, find how many domain names use the same term in other domain extensions. For instance, food.com is a category-defining domain name. This is so because food is used as a single word in 485 domains and as part of a domain name in 733,000 domain names,
Back to honeymoons.com to illustrate the point. Honeymoons without no other redundancy is used in 47 domain extensions (domain names) and used as part of a domain name in 1,464 domain names. In comparison, honeymoongoals.com is the one and only domain name in the entire world meaning that this domain name is actually a brand-new creation which no one ever heard of. When you are creative and like to create a new brand that no one knows nothing about, basically you create a drug name. (Drug companies never use the strange names to promote sales of any of their drugs.)