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Why Premium domains are important
Domains are valuable because these help your client reach to you. The value of
a domain is determined by many factors much same as value of a piece of land
is valued using several factors. However unlike a physical property a domain is
easier to assess for its value using some simple principles. Basically domains
can be categorized as two main segments
Brands
generics
Brandables
These type of domains are usually not associated with a dictionary word are usually the shorter the better(i.e. think about yahoo,google,sap). However these domains are most valuable due to their pronounceability and liking to an individual. So a good brandable domain will have following properties.- Short, usually less than 8 characters
- Easy to pronounce
- Easy to remember
Generics
A generic domain is a prime property. It is simple, meaningful and conveys a direct message about your business e.g. a domain like CheapestPlaces.com is considered generic because it directly conveys a message that it is about the travel bargains and it is premium because there are not many names with the same composition and simplicity which can convey the similar message to an end user. The beauty of a generic is that there is little or no marketing required compared to establishing a brand which needs marketing money to build and feed the brand to an end user. A generic is what people are used to, these are the phrases they use in their everyday life so it is easier for them to browse and map the web in the same way. The generics are very valuable and over the years the value has sharply increased. The single word generics are traded in millions these days so for a small to medium scale business a two word generics like TranslationDevices.com, PopularBikes.com are best of the both world. A good two word generic can be acquired in range of few thousand without spending the truckload of cash.
But wait, what about search engines
There is a common misconception that a business can be searched on the web easily now as Google and yahoo seems to be the king of internet space with almost every other user using it daily. However this is only a part of the story. First of all a search engine uses its internal algorithms to display the results for a user query which are unpredictable and you are competing with all of the competition you have in your area of business to get a good ranking in search results. Unless you spend a lot on the sponsored listings there is no guarantee than you will get a good placement in search engines in all circumstances. A little tweak in internal logic of these algorithms can mean a lot of ranking change for your placement which results in to loss of sales.
The second argument is human efficiency still wins and not every end user is happy about the search engine results. Most of the new and niche markets based web addresses are not found and ranked by search engines appropriately so users ends up typing directly in to the web browser as the web address for what they are looking for. So a user looking for cheap toys is very likely to remember and type cheaptoys.com directly in to browser. This is called type-in traffic. The fact is still 10-15% of all the web traffic is based on type-ins. If a brand is build around a generic name which is common life phrase users are much likely to type in directly and thus bypassing any search engine based skew to your business visibility.