When it comes to an online business, everything revolves around the domain name. Think of a bicycle wheel for a moment. All of the spokes radiate from the hub in the center of the wheel. Likewise, the various aspects of running a business start with the domain name as the hub.
Earlier this morning, Rick Schwartz shared some thoughts about how the domain name is the hub for a business:
Everything starts with a #DomainName
Every DREAM starts w/ a Domain Name
Every idea starts w/ a Domain Name
Every Business starts w/ a Domain Name#DomainNames are the center of gravity for all commerce
It’s your identity throughout the world #Domains #Marketing #Branding pic.twitter.com/tK6vQuZpYr
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 👑 (@DomainKing) October 21, 2020
The domain name is the epicenter for the business. The company’s website is located on the domain name. The business email utilizes the domain name. The domain name should be a primary aspect of the corporate branding – or the branding should match the domain name in some way. The company’s marketing should ensure customers and prospects know how to find the company online. The domain name should host a resource for employees.
Put simply, an online business revolves around its domain name.
I think it is mission critical for a company to choose the right domain name. The domain name should not cause any friction or become a pain point for the business and its operations. Customers and employees (especially in these work from home times) should easily be able to find the domain name and/or communicate with the business. There should not be lost traffic or misdirected emails sent to other companies – particularly competitors.
When it comes to operating a business online, the domain name is the center of everything. The domain name should ensure a frictionless and painless experience for the company, its customers, its partners and suppliers, and its employees.
Elliot – Your posts are normally extremely clear and grammatically correct. But if you re-read the first few sentences in this post you might feel the need to tweak them…
Thanks – will re-read and revise. Tough writing with the kids getting ready for Zoom school 🙂
Wow – that was painful to read. I started the article on my laptop, did not proof it, and finished up in my office.
As domain investors we like to think of domains as digital real estate or mission critical to a business’ success. However, we cannot ignore the fact that 99% of people outside this industry do not share that view. It is quite common for companies to spend five or six figures annually on Google Adwords but give little consideration to domain acquisition strategy. Others will put their entire business on Facebook, Youtube , Instagram or Twitter and not even have a website. With the advent of hundreds of new extensions, startups and developers are finding it easier to avoid the domain aftermarket – even if the domain they choose would get a reg fee appraisal by any experienced domain investor. Of course I believe a solid domain can be useful to promote a business’ products or services. But I also believe regular exercise including weight and sprint interval training are good for one’s health. Yet what percentage of the general public does weight and sprint interval training on a regular basis?
If you have been in domaining for years and if you do not have one or 2 good catchy domains in your portfolio, then you are not a professional domainer, you are just a novice.
Take the Party Test- if I introduce myself, I introduce myself as the MarijuanaGuy.com…everybody will know that name and it will stick in their mind.
I also tell them about Squarely.com and of course the BullshitWebsites.com
Express yourself via Domains
Professional Domain Investor
Professional Internet Real Estate Investor
Professional Digital Real Estate Investor
It’s a problem when you have people with an ‘always a small business mentality’ at the helm. For example, a local fish and chippery which doesn’t take electronic card payment to save .20c, even asking customers to walk ‘around the corner’ to the ATM to get cash, vs a niche online music store which sends out snail mail to all customers (including internationally) about company news, offers, etc. Both true examples which I never forget.
Companies should ensure their decision makers in all departments are at least a little bit creative and visionary. That’s essential for everyone anyway, without a dream or a healthy optimism there remains a joyless battle and ultimate stagnation.
Jack, I definitely see your point on this but personally I’m torn:
1. In the early days I tried to avoid PayPal fees for certain transactions by having people pay as a personal/gift payment, then I woke up and started not caring about that (which created friction for the payer) and I focused on sales and not on fees – I’m so much better off for that. But:
2. Sometimes, I like that some places don’t take credit cards – maybe it’s nostalgia or just my perception that society needs something to slow change and innovation just a little. I went apple picking a month ago and had no cash. I ended up paying almost $8 in fees to take out $100 from a local ATM (their fee and my bank’s combined). I really hate cash but for some cash businesses I understand it and they may be better off.
I don’t normally use a credit card (only if urgent), but only a debit card. In person I always use the debit card, and pre-covid I manually inserted the card and enter my pin to bypass the Visa contactless facility/process altogether so they can’t track the purchase. Actually my unchanged opinion for at least the last decade has been that I’d welcome an outright ban on credit cards.
Domain name is important for sure. That said, I would say it’s one of the many important factors.
I think the business idea and the team that you have in building the idea are more important than the domain.