Domain Names

Understanding the importance of domain names is crucial to your online success. The number one rule in real estate is; Location, Location, Location! This has never been more important than on the internet! Your domain name is your location, your virtual real estate!

Your domain name is your unique identifier on the internet, the same as your phone number and street address are unique to the offline world. Your web address separates you from the 100 million or so websites on the internet today.

They provide customers with a descriptive and easy to remember way to contact your local business. 1-800-Flowers is a perfect example of a descriptive telephone number.

A memorable domain name serves the same purpose. It instantly attracts your target audience and is a major advantage in establishing both your online and offline presence. It is important to do your due diligence when choosing domain names.

"Would you recognize this site as an authoritative source when mentioned by name?" Google

Branding Domain Names

Properly branding a domain name develops a source of highly targeted customers that will continue to grow into the future.

If you want to understand the power of branding domain names, take a minute and read this blog post from Rick Schwartz, one of the top domain name investors in the world. I highly recommend following Rick's Blog for no nonsense advice on domain names, marketing and business in general.

Branding with Local Generic Domain Names

Branding web domain names works equally well, if not better, for local businesses. With the increasing use of local searches on the major search engines, mixed with traditional local advertising, you have the potential to dominate your local market. Can you see the possibilities for your business? Here are a few that already do.

• OrlandoRealEstate.com
• BostonDentists.com
• AtlantaPestControl.com
• ChicagoAutoInsurance.com

Are Domain Names an Asset or Expense

Unlike traditional advertising, domain names should be considered an asset, not an expense.

With traditional advertising you spend x number of dollars monthly on Yellow Pages, Direct Mail, Print, Billboards, Radio etc;

Take a small business grossing $500,000 annually and spending 5% of the gross or $25,000 on marketing. At the end of the year they do not own any of their advertising, it is an expense.

Imagine if that same business had invested a few thousand dollars into a domain name that helps attract visitors to their business. At the end of the year they would own the domain name. An asset.

Here are two recent sales of local business domain names. These prices may or may not be typical. I am referencing them as current examples only.

• ParkCityRealEstate.com Sold for $60,000 1/12/2011
• TucsonRealEstate.com Sold for $50,450 4/13/2011

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