Any company’s domain name is becoming more important. Anyone beginning a business should get a domain name, whether it will be used mainly for email, a corporate website, or as part of a marketing strategy.
The distinction between a domain name and other marketing costs is that you are purchasing, not leasing, a presence that will help future consumers identify you. It is very important to buy the best domain for your business, so if you need financial assistance, get a loan from Green Day loans.
Granting a premium domain has grown pricey, with the average cost of a domain name ranging from $5,000 to $20,000, but how expensive is this?
Couldn’t we describe anything as pricey if we compared the price of practically everything to its initial price? How much does it cost to make a $3 bottle of bottled water? Or a $300 set of designer sunglasses probably made for less than a mocha?
The debate about why domains are such valuable stems from a lack of knowledge of the underlying asset’s worth and, potentially, some envy. Would you dispute the value of your grandmother’s beachfront home if she bought it for $100,000 ten years ago and it’s now worth $500,000? No, since real estate has a concrete, acceptable worth in our minds.
Even though many domain names are owned by astute investors who recognized the assets’ future value and simply monetized them by serving ads (rather than adding value), the majority of these investors should never be referred to as settlers but rather as intelligent people who happened to be in the right place at the right time.
Is it possible that someone owns your name and is squatting on it?
No one is a settler in the domain name market unless you hold a trademark on the domain or someone is purposefully profiting on a mistake of your brand. What’s more intriguing is that complaining that “someone has their name” but doesn’t have a trademark or other legal form of comparable usage is practically the same as saying your grandma owns my dream house, only now they’re implying that your grandmother is a terrible woman who isn’t a significant investment. Real estate ownership is socially acceptable, and domain name investment should be.
Of course, no one in the domain name industry would dispute that there is a section that traffics in trademark names or tries to sell domains for much more than their fair market worth, but isn’t every reputable industry home to some individuals who engage in shady practices?
There are respectable and non-reputable dealers in the used automobile market, the jewelry sector, financial trading, and every other area I can think of. The idea is to work with trustworthy individuals and acquire things worth anything to you and your company strategy.
What is the value of a domain name?
A domain name may be worth anything, although most sell for $5,000 to $20,000 — premium domains, category killers, and short domains, on the other hand, can easily cost $100,000 or millions of dollars based on a variety of factors. But let’s look at how a domain name relates to the cost and value of conventional media rather than individual domains. To put a $10,000 environment in context with traditional media, consider the following.
Advertising on Billboards
Billboard advertising is among the most costly forms of advertising. According to Clear Channel’s web rate card, a rotary bulletin in New York City may cost anything from $35,000 to $600,000 every WEEK.
Advertising on Mobile Devices
Do you know the billboard that’s hauled around on the back of a truck and travels around all day? If you want to promote in the Atlanta Market, you’ll have to pay $20,000 each month (although fuel cost is included)
Even radio commercials may cost up to $200 per spot on average, and you’ll need at least a few a day to make a mark in drawing customers… total monthly projected cost is $30,000 or more.
After the 30 days for the conventional media sources mentioned above, what do you possess?
If you spend $10,000 on a domain name, the only recurring expenditures are the $8 annual registration fees – not even $8 per month… It’s less than a dollar every month.
There are other fees, such as website development and SEO, but these are all payments that go directly toward increasing the value of something you own rather than something you are leasing, such as airtime or billboard space.
Other intangible aspects, such as authority, are that domain names possess that conventional media cannot match. Consider the value of a domain like govote.com or compareautoinsurance.com. Parts like these are intuitive by definition and identify your status as an expert on the issue. They’re widely accessible instead of paying millions of dollars for mega premiums like vote.com or autoinsurance.com.
Many names may fetch $1,000,000 or more even in a fire sale. Still, the number of significant domains currently available at prices considerably below yearly conventional media costs for just a SINGLE part of your complete marketing strategy is nearly limitless.
The critical issue is not how much a domain name costs but how valuable it can be to your company.
Examine your marketing budget to discover what $10,000 can get you. After all, there isn’t much — at least nothing you can own for a one-time fee for the rest of your life.