Many business owners fail to recognize the importance of domains on every level, and fail to grasp some basic concepts of domains that should never be overlooked. Truth is, there are so many intricate details and thoughts that should be considered that the depth of this post would be pages, therefore, I will limit the discussion to what I feel are the top 3 considerations I feel business owners need to make.
Domains as property
First, you should look at domains like real-property, and the analogy I make is domains=land, or real estate. I think it is important to make this connection, because most underestimate the current and future potential value of silly, trivial web-components until they make mistakes with them (damage, loss, misuse etc.) The most common failure is simply failing to develop your property – never building, or expanding – the failure to develop prime real-estate.
As any realtor will tell you, only three things are important in real estate – location, location, location. While the same is generally true with domains, location is a bit different in concept. The most valuable domains are typically the smaller ones – 3 letters. Unfortunately, those domains are already taken. Like property in Manhattan or Tokyo, these properties are pricey(think millions). Now, as you go down the price scale, you go UP the letter count, and into the obfuscated, forgettable categories of domain names.
Shorter is better
When it comes to domains, in general, shorter is better. The exception is slightly longer “memorable” name
My suggestion, choose the shortest domain possible, that is easy to remember, and more importantly easy to type without error. Always try to stay away from the vanity impulse – the self-expression in naming. ABC.com, NBC.com, etc are all good examples of short domains. They will always belong to those entities until their demise. Other non-proprietary domains will only increase in value. The best example – SEX.com, sold for $13 million….. 4 years ago. It is easy for brains to hold 3 letters. EASY. When you start going beyond 5 letters, you lose the ability to recall, after all we are only human. So once the supply of 5-6 letter domains has evaporated, we need to choose domains wisely. So how do we do that?s. This a very hard distinction make, but it is important to understand how the human mind works, to effect an impact on traffic, and revenue. To make this point clear, I will use some examples.
http://best-bananas.com/ is far more valuable than http://johnsbananacompanysince1997.com/
It is shorter, easier to remember, to type, and you will be rewarded with inherent search value most importantly.
Do no harm
This may sound like a no-brainer, but many owners fail to realize how easy it is to damage a domain by inadvertent activity. Many times, aggressive marketing, SEO campaigns and the like can actually damage your domain. Anytime you buy links, or forumlate any sketchy, grey or black SEO techniques, you can garner negative attention from search engines, and be negatively affected, and even de-listed from the index. This is the equivalent of dropping poison or radiation onto your property – turning your domain into a web-brownfield. Very bad. Sometime, undoing the damage from SEO or bad search marketing can be more expensive than simply starting over. Sometimes starting over is the best idea. Do not poison your property with blackhat techniques. Be careful who you hire and research your marketers carefully.