I read a great story about the CarLoans.com.au domain name, and I want to share it with you. The article was written by CarLoans.com.au founder Shaun McGowan, and it was published in the first person on Startup Smart, “Australia’s leading news and advice resource for start-up businesses.”
You should read the article in its entirety, but here are a few things I found particularly interesting about the CarLoans.com.au story:
- Domain name was bought for $2,000 (at a domain name conference)
- Upgraded from Beep.com.au
- “Turnover went from $60 million to $100 million“
I think this article is a great illustration of the potential impact of a great domain name when paired with a smart business plan and expert execution. According to McGowan, “The best advice I can give to any new business owner is to invest in the best descriptive domain name you can afford. In time – and not that much time – it will pay for itself handsomely.”
I assume the auto / car loan business is very competitive. Building a trusted brand in that vertical would likely be expensive, especially if well known financial brands are already competitive. Having a great descriptive domain name like CarLoans.com.au was probably helpful to this company, and the article is worth a read when you have chance.