If your website is used to draw in consumers, your domain should have the same magnetism as your brand. Here are tips for prioritizing and optimizing your domain strategy. <BR>
Domain registrations have been continually growing to more than 168 million worldwide, while at the same time, aftermarket sales have been increasing consistently at about 20 percent year over year. This upward trend continues, showing that even in down or flat markets, domain names are still growing in numbers and in value.
So why is there so much demand? Keep in mind that domains are assets that are both collectible and revenue-producing. They are unique -- no two domains are exactly alike. However, they also hold an inherent ability to attract traffic. More than 70 percent of internet users type in a domain name to get to their ultimate destination. Direct navigation and traffic from domains still make up 15 percent of all revenue generated by Google and Yahoo alone.
Domains are essentially the online version of a storefront, which is why companies that seek to compete online develop a comprehensive domain strategy. Important areas to consider include:
- Protecting intellectual property. Ensure you own the domain for every brand name you operate. Before you launch any new brand extension, product or service, make sure you research the domain names available. If you are considering applying for any trademarks, be sure you lock up the corresponding domains first.
- Investing in "category killers." What is the core element or descriptor of your primary brands? What is the main search term you're seeing conversions on? Many companies own domains for all the brands they operate, but they also own certain strategic "category killers" such as Johnson & Johnson owning Baby.com, Calvin Klein owning Underwear.com or Kraft owning CreamCheese.com. These are vital branding elements -- any time anyone types in baby.com into their browser, Johnson & Johnson further reinforces its ownership over that brand association. Thanks to direct navigation, this brings the company a constantly renewing source of interested parties who are self-selecting the terms. By owning those domains, you can then tie those terms directly to your brand. There's simply no better opportunity to affect brand identity and perceived brand attributes than through high-traffic direct navigation domains. Category killers also greatly aid your SEO efforts -- at the time this article was written, Baby.com was ranked No. 2 for the search term "baby."
- Implementing offensive and defensive registrations. While the .com extension is by far the most powerful, depending on your business, you may want to explore registering other domain extensions that could also be valuable. For example, international companies like Disney know that people outside of the U.S. default to using their home country code when surfing online. As a result, they operate domains with important country code extensions, such as .fr for France, .de for Germany or .jp for Japan. Similarly, you will also want to make sure anyone seeking your website can find it, so popular extensions such as .net, .info and .org should also be considered. Make sure you cover common references to your brand and common typos as well. For example, the nickname, Coke.com redirects to Coca-Cola.com and the typo Microsft.com (missing the "o" in soft) redirects to Microsoft.com. Both these brands understand the importance of making sure anyone who's looking for you finds you.
Defensive registration tip: Have a few employees quickly type your key brand terms into their browser without proofing and click go. Have them do this 10 times each. Consider registering or purchasing any typos that emerge.
- Using memorable landing pages. Your brand name may not always provide a memorable hook for a TV or print ad, or out-of-home advertising where you have less than 30 seconds to make a meaningful association with your audience. Consider Jet Blue's HappyJetting.com or Splenda's ImagineLifeSweeter.com. Both are memorable names that lead to robust landing pages and increased interaction with the brand online. This strategy is also effective if you have a special target audience you're appealing to.
A word about vanity TLDs
The ability to apply for new vanity top-level domains (TLDs) is tempting for many corporations. However, it's important to keep the goals of the organization in mind. Usually, that includes driving more sales and revenue through the site, while driving down the cost of the traffic. Unless there is sufficient budget with which to educate consumers regarding the existence of your new TLD, let alone to increase demand for it, it may not be worth the time and effort. This approach is considered by many to be a purely defensive play that will not significantly increase site conversions.
You could attract far more targeted traffic -- people who are self-selecting the topic every day -- by spending the same amount of money on a category killer dotcom. Purchasing a high-profile traffic driving domain is a one-time expense that gives you continuously recurring traffic and will not require ongoing marketing budget to prop up awareness or interest. There are limited exceptions where a vanity TLD makes sense, but such a move should be weighed carefully.
Protecting your assets
Your domains are valuable assets that can increase in value over time, and -- like other assets -- also contribute to the total value of your business. Besides that, they are the cornerstone of your online revenue model. Make sure you are protecting them fully.
For starters, choosing a registrar is similar to choosing a bank -- be sure the one you use is accredited by ICANN and has a reputation for security. Be sure you know its track record and take an active approach by making sure you review your domain portfolio frequently -- just like you would a bank account. In addition, consider adding additional security measures. For example, some registrars offer security features that help protect domains from transfer or deletion due to hijacked emails or accidental pushes.
Ongoing and active domain asset management is vital to your business
The ongoing review and analysis of your domain portfolio and domain strategy is no longer an option in today's Web 2.0 world. Demand for these vital online storefronts is growing and so is the cost. If you haven't already done so, now's the time to perform a baseline analysis. Then prioritize your needs and quickly move to obtain, protect and deploy those assets. It may not be sexy, but domains are the cornerstone of your online business and deserve a well-thought-out strategy that matches your goals and objectives.
Monte Cahn is founder and president of Moniker.com and president of SnapNames.