Just last week, a client asked for assistance trying to acquire their brand. They owned an inferior. APP domain name and used that as their core brand. It’s not too uncommon for clients to upgrade their brand and make sure their domain name is adding value to their brand.
After all, your domain name and digital footprint matter in a world where we deal with instantaneous information. Sometimes that information is transmitted so fast, that we only have a split second to be remembered and stand out. How can we separate ourselves from the competition and dominate the market?
It all starts with the proper domain name to build around. For more than thirty years the Internet has evolved and grown with countless new digital enterprises developing and scaling their brands. The domain name asset must stand out and be memorable. It should convey something positive and/ or inspiring. Most importantly, the name needs to be timeless and generic enough to have broad use.
Clients are increasingly seeing the long-term value of shortening the length of the domain name. There are still many good viable alternatives to the .COM top level domain, .AI, .IO, .CO, .NET, and .ORG are all decent options if the .COM is not available or too expensive.
Shorter Domains are Better
Consumers are hit thousands of times per week with subliminal advertising messages and don’t even realize it. You really need something that is going to stick out and be memorable. Less characters can help deliver a better recall for the average consumer.
Shorter domains will hold that longer term value and build equity in your portfolio. They are a great resource to build a brand and normally will increase in value over time.
Sometimes, a domain hack might be a more cost-effective way to add value and be memorable. This might confuse certain consumers; however, its more of a short-term solution until you are funded and ready to scale up.
Ideally, a domain name under five characters presents the best way for a potential consumer to remember your brand. It all starts with the foundation—also know as the domain name brand.
A brokers’ exercise is to identify, contact and gather information related to the domain name search query. The broker should add value to the acquisition by providing valuable insight and guidance on the assets in question. How knowledgeable is the broker on alternative options, that might be a better fit for the prospective client.
The broker must remain neutral and not become emotional around the domain name transaction. Ask the broker the following questions to make sure they are aligned with your interests:
- How long have you been selling domains?
- What are the last three names you sold and to whom?
- What is the brokers expertise? Specific to a TLD or niche market?
- Where is the broker located? Are they accessible to your time zone and specific timing needs?
- Have you Googled the Broker? What is the track record and history?
- Can the broker offer three references?
- Does the broker offer Dual Agency?
- What escrow providers do they work with?
Run the diligence and ask the appropriate questions so you can align yourself with the proper professional that will protect your interest and anonymity throughout the entire process.
A play on words
Its not uncommon to get a little creative in your approach towards a brandable asset that might hold value. The CVCV.com pattern is a very popular alternative to create a new brand using a short, made-up word such as ZoZo.com or WeWo.com or any other unique variation. Something like this is short in nature, and can be memorable for the average consumer. They tend to have less ability to misspell and also can add a bit of equity to the brand strategy.
Can the domain name solve a problem?
The domain name can become valuable if its able to solve a problem or disrupt, some form of technology. A domain name that has instant appeal and helps tell the story will forever be timeless in the upside of that asset. The domain name can shape a niche or target-specific market, or could be broad in nature—but again, helps solve a problem for the average consumer.
Finding Good names for Sale
Its vitally important to be patient, and not settle on a domain name because you can’t find the right brand. Take the time to be patient and look for the right domain name for your brand. You might have to spend a little more upfront to get it right the first time. You need generate or develop a list of targets. This list of targets should be defined and based on your important criteria.
Expert brokers and domain name professionals should be able to help you identify viable opportunities. They should also focus on the full spectrum of options, and not limit the search to only, the target-specific asset.
These steps can help ensure that your domain name will add upside and value to your brand. It’s important to always align with a professional that completely understands your specific needs. That person or company should also be able to communicate effectively and be held accountable for their work performance.
Buying domain names is not rocket science. There is a process to effectively securing a domain name asset and making sure that domain asset ultimately adds value to your brand.
If you need help finding a good domain name for your brand, please contact our Domain Buy Service.