Location, Location, Location…on the Internet. Who knew that finding a great location for your business’ premium domain name to live could be far more expensive than finding a great place for your family to live? It might seem crazy, but it’s true.
The first domain name was registered back in 1985. Since then, the cost of getting the best, most memorable, and catchy domain has grown to astronomical levels. For instance, in 2016, Elon Musk purchased tesla.com for 11 million dollars. In 2017, cars.com was purchased for 872 million dollars, and in 2018, Erik Bergman paid 900,000 for great.com.
Of course, it’s not hard to imagine why tesla.com, cars.com, and great.com could go for so much, and the vast majority of businesses wouldn’t need to fork over anything in that ballpark. Nevertheless, with a current 1.83 billion websites online and 363.5 million new domain names being registered in just the first quarter of 2021, finding that perfect domain name is becoming an increasingly tricky task.
Purchasing a premium domain is extremely important
Regardless of how difficult this is becoming, purchasing a premium domain is extremely important to help your business thrive. These domain names are the ones that grab incoming keyword searches. As a result they are the ones that end up at the top of a Google search. Statistically, 71% of buyers begin with non-branded keyword searches. 75% of searchers only ever look at the first page of results.
The best domain names are those that have “human appeal.” They are short, memorable, and have 6 to 8 letters. They also end with .com as these sites garner the highest traffic worldwide. With the perfect domain name, businesses could land the 1st position in a search, which means click-through rate of 34%.
Add a vanity phone number, like 1-800-FLOWERS, to a premium domain name, and your business is set to be one of the first ones consumers recall when they’re looking for something specific.