For lots of companies the decision around what their domain name should be is based on just having any old name that can be used to direct people to their website.
Likewise there is no real consideration into picking a name that can help them get their business up and running as quickly as possible.
But in the age of increased competition more and more companies are beginning to realise that having the right domain can provide many benefits compared to having just an ok domain name.
For some companies the change, or upgrade, of a domain name may seem over the top and should only be considered if a new name will provide sufficient benefits.
And for those looking to upgrade it’s important to note that different elements of the domain need to be considered. For example, along with a possible change of the domain name the domain extension may also benefit from an upgrade i.e. a domain with a’ .net’ extension could benefit from getting an upgrade to the ‘.com’.
So why upgrade and what are the key benefits?
Shorter and More Memorable
Imagine having a name like www.BestDiamondRingsOnline.com which is an ok domain name but just not as good as the Category killer www.DiamondRings.com. Clearly the shorter the name the easier it is to remember. And the easier it is to remember then the more likely customers will go to the right website instead of a competitors website.
Owning a Premium name like www.DiamondRings.com also gives the impression you have been in this business for a very long time. So if you are new to the Diamond Ring market you can buy your business instant credibility with a premium domain.
Avoid Traffic Leakage
This is especially relevant if you own a domain with an extension other than the ‘.com’. For example if your domain is www.DiamondRings.net/.org/.biz/.us, it’s very likely that you will be losing visitors to the ‘.com’ version of the domain.
This is purely down to how people remember domains and lots of people will automatically enter in the ‘.com’ version first when they can’t remember what your domain extension might be. Over the course of a year this could potentially be a LOT of lost traffic…..and profits.
Although this ‘upgrade’ is for an extension upgrade it is especially important for a premium exact match domain as the lost traffic for a high end product or service could be $1,000’s if not $10,000’s in lost revenue.
Just like with Traffic Leakage you can also end up losing lots of emails destined for your Inbox. For example let’s say your domain is DiamondRingsDirect.com or it’s DiamondRings.net then there is a high possibility that anyone who intended to email those domains e.g. contact@DiamondRingsDirect.com would, could and WILL email contact@DiamondRings.com by accident.
Once again this could lead to a possible loss in potential sales for your product/service and more importantly if people are emailing sensitive information then that can also go astray. And bear in mind that all the lost emails could be ending up in the hands of your competitor(s).
Better Click Through Rates
Whether your premium domain is shown in the SERP’s or on PPC adverts like Adwords, you will also benefit from much higher click through rates with a premium domain. Especially if your domain is the Category killer for your market.
A great example of how an exact match premium domain can be invaluable is the purchase of CarLoans.com.au. The buyers of this premium domain have attributed the massive increase in revenue, from $60 million to $100 million, as the result of purchasing their Premium domain.
Just imagine what a premium domain could do for your business?
More SEO Possibilities
If your business relies a lot on SEO traffic and your domain is based around a premium domain, which also has lots of credibility, then you’ll know that links to your site are the lifeblood for high rankings. Google would love you to get those links ‘naturally’ so along with having great content on your site which people link to, you will also get lots of natural links from webmasters who will assume your site is the authority.
For example if you own DiamondRings.com then you’ll get lots of free links based on having the category killer domain.
The bottom line is that having the right domain name can have a dramatic effect on the success, or otherwise, of your business. Plus, a quality domain is also an investment and a commodity which can increase in value over time.
If you’d like to upgrade your domain or learn more about how we can help you find a domain to take your business to the next level then please contact paul@MavenDomains.com or call Paul on 0044 (0)1753 681367.