Finally, A Writer Outside the Domain Industry GETS IT!
I was sent an email by Louise Timmons that contained a great link to an article about the value of domains, published here: https://www.openforum.com/idea-hub/topics/marketing/article/why-you-need-multiple-domain-names. My interest was piqued when Louise said it was the best marketing/ad advice she’s seen outside the domain investing community. After reading it, I agreed.
The article was outstanding, on point, and logical in its advertising strategy regarding “owning your competition™”. The author, Ivana Taylor, spoke very straight talk about a little-known secret of the biggest corporations in the world — “OWN YOUR GENERIC DESCRIPTIVE PRODSERVS DOMAINS”!!
Ms. Taylor made many great points you should read in her article covering many areas of domain value. However, there’s more to add to the power in owning the generic domains representing your company’s prodservs.
1) The domain you buy describing your “abc123widget.com” is also a term YOUR COMPETITORS WILL BE USING to describe their prodservs that compete with yours. So if you are selling “abc 123 widgets” and you have a competitor selling the same thing, every time they use the term “abc 123 widget” offline or online, they’re actually PROMOTING your website and company, because YOU OWN THAT EXACT DOMAIN NAME describing the prodservs.
2) MARKETING 101:Every time your competitors promote their prodservs, they have to use the “term/phrase” that defines it. But it also defines YOUR prodservs, and YOUR COMPANY will have the “brand” online already as a domain name, so your competitors are just promoting your domain name which you’ve POINTED TO YOUR WEBSITE!
3) Since you own the domains describing your own prodservs and your competitors, you get the prestige of your brand because you’re pointing those domains to your website offering these prodservs. This establishes your company as “the” best source. (Most common example… type in “Baby.com” and see what billion $$$ company owns that domain, and now that space. Nevermind that J&J spent over $2 million for the domain, that’s only 1/20th of their yearly ad budget. The thing to remember is that each year, it’s only $10 to renew the domain.)
My advice is that every company should set aside at least 50% of their ad budget for buying their prodservs domains. Even if those domains cost more than a new registration fee because you have to buy them in the aftermarket (from someone who already owns the domains), the purchase of that domain is still an “investment” that keeps on giving. It’s an “appreciable marketing asset” that never, if rarely, loses it’s value. In other words, you can still recover your original purchase cost on the domain after you’ve used it. In some cases, the domain name can be worth more than the company itself.
I recommend any business starting a new ad or marketing campaign to read this article and look into domain investing very closely. It’s the best secret for marketing value that the big guys really don’t want you to know.
- Stephen Douglas, SuccessClick, Author