The Value of Domain Names
Introduction
The Internet is now an indispensable part of the gem
and jewelry industry. However, business on the Internet differs
from traditional business practices, and there are new rules which
you need to understand to be successful.
The use of Domain Names is one of the most essential
differences.
On the web, most clients find you through your domain name, which is also your web site address. Your domain name is how people access you. It also influences what people think of you. And owning a domain name allows you to control it forever. What´s in a Name? Power and Perception
A number of factors determine domain name quality. Good
domain names are easy to remember and provide a recognizable trade identity. Domain names that end with ".com" and that are registered in the U.S. are considered the most advantageous for a company located anywhere in
the world. Domain Names as Web Site Locations
Think of web addresses as Internet real estate.
And the three rules in real estate apply: location, location, location! Like New York City's prestigious 5th Avenue addresses, a limited number of high-quality domain addresses exist for any given industry on the web.
Owning a good domain name is like owning prime real estate, something that increases in value each passing year. Domain Names as Company Identity
In addition to designating a web site location, a domain name also offers an identity for your company. It's how people perceive
you.
If you have the domain name "FancyDiamonds.com," everyone will automatically think of you when they want fancy diamonds. An instantly recognizable domain name directly connects your business to the product itself. Creating Customer Confidence
Successful businesses instill confidence in their customers. On the Internet,
a domain name is the first contact that a customer will have with you. This first impression establishes your identity. When you see a business at an industry trade show with an extensive inventory of a particular
product—like garnet jewelry—you recognize them as a primary source of the product, and are confident buying from them. In this same way on the Internet, owning "GarnetJewelry.com" identifies you
as the primary source from which to buy. Why Domain Names are Valuable
One of the primary goals of
advertising is to connect your company's name and product in the minds of your customers, so that they will come to you when looking for that product. Gaining even one good customer because of an easy-to-remember domain
name can be very profitable.
Many businesses spend millions of dollars on advertising, just
to promote their name in association with a specific product.
Full-page color ads in many gem and jewelry magazines can cost more
than $80,000 for just a single year. Owning a good domain
name is the equivalent of years of expensive advertising and marketing.
Good Investments
High quality domain names are cost-effective short-term
and long-term investments. After their initial acquisition, domain
names can be owned and controlled forever. According to aNewsday
Magazine article, a company that sells groceries over the Internet
purchased the domain name "grocery.com" for $9,000 in 1998.
"We were trying to start a business on the Internet, and this name
is exactly what we wanted," said Ari Sabah, vice president of interactive
technology at American Value Brands Inc., who has ´netgrocer.com´
as its company's main domain name. "It's just like paying for one
ad. It will bring much more traffic to our site, and it's permanent,"
he emphasizes.
How Customers
Find Suppliers on the Internet
There are two basic ways that customers find suppliers on the Internet. One way is to directly type in a word or phrase --a domain name-- into the web browser. This is the
quickest, most direct way a customer finds what he is looking for. If he is seeking Burma rubies and types in "Burmarubies.com," the customer will immediately find a primary source for Burma rubies. The other
method for finding suppliers is by using search engines. With search engine results, customers have to choose from hundreds (or even thousands) of listings. Often, the name of a web site is the determining factor in
choosing a site. If a customer is looking for Burma rubies, he will most likely want to go to a web site named "BurmaRubies.com" instead of "XYZCompany.com," because he knows that there he will find a primary source for
Burma rubies. Even if your company already has a web site, you can directly link many different domain names into your existing site. If your web address is "XYZCompany.com," you can also own "BurmaRubies.com,"
and have it connect right into the home page of your web site. Power of Exclusive Ownership
In
traditional business, a company will not give their business a "generic" product name— "High Karat Gold," for example —because you can't legally protect "generic" business names. But on the Internet, you can
exclusively own generic names such as "HighKaratGold.com," and have that product name link directly to your web site. A very important difference indeed. Once you have acquired a domain name, you own it
exclusively, and anyone typing this name into their web browser will reach only you, not your competitors. Controlling an important domain name thus prevents your competitors from buying it and stealing future customers
away from you. Owning "Groups" of Names
Ownership of groups of related domain names give you
control over a specific product. For example, when a customer is looking for melee diamonds, you can own all the name possibilities; every road leads to you:
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FancyDiamond.com
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FancyDiamonds.com
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FancyColorDiamond.com
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FancyColorDiamonds.com
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Customers looking for your product will find you, even if they don't
remember your web address exactly.
Conclusion
A domain name is a valuable business asset, representing a global toll-free telephone number, prime real estate location,
and extensive advertising all in one. And the value of high-quality domain names becomes increasingly important as Internet gem and jewelry sales grow daily.
Every industry leader wants the strategic advantage
of an Internet web site address that is instantly recognizable,
memorable (that both present and future customers can remember),
and found easily during searches. The domain names for sale or lease
at DomainGems.com give you this opportunity. Contact us now while
they are still available.
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