5 common myths about domain names: Stop fooling yourself into thinking domain names are unimportant!

I believe that whether it is a beginner investor or a company or entrepreneur who wants to buy a domain name, there are all kinds of problems in the struggle of "whether to buy a domain name" and "what kind of domain name to buy". There are many problems, and there may be more misunderstandings. Recently, a blogger overseas shared an article, which mentioned "5 common misunderstandings about domain names".

01. My business is doing well, and the domain name is irrelevant

There is nothing wrong with the fact that a company's business cannot be supported by a domain name alone, but the domain name can certainly help the development of the company's business. Otherwise, why would almost all successful companies change to a .COM domain name that is more appropriate and more matching with the brand after they grow and develop? Why do we no longer visit Thefacebook.com, but visit the Facebook.com domain name? This is the reason.

A good domain name that fully matches the corporate brand is easy to spell and not easy to type incorrectly. When people see this domain name, they can easily think of the corresponding brand or company, and a good domain name is also easy to spread. A good domain name is not a passport to success, but it will definitely help the development of a business. In addition to being beneficial to marketing, it can also build trust between the company and its customers and partners.

Therefore, deceiving yourself by saying "I don't want this domain name" is like saying "I don't want a prime location, I am satisfied with that remote store." In this way, you need to spend a lot of time explaining to each customer how to find you. Unless you spend a lot of advertising money on promoting the store address, most people will not be able to find you quickly.

In contrast, after having a good domain name that matches the brand on the Internet, the embarrassment of "users can't find you" is avoided.

02. Premium domain names are very expensive, I can't afford them

If you don't really want to buy it, it's normal to have such an idea.

For example, if you spend $1,500 on advertising every month, it will be $18,000 a year, but you can't estimate what effect the money spent on advertising can bring, and once you stop investing in this area, the effect will disappear. However, having a good domain name will have a completely different effect...

The annual renewal cost of a domain name is usually no more than $10. Even if you spend money on paid clicks, the cost will be much less. For example, if you advertise on Facebook, the average click costs $1.86, and if there are 100 visitors per day, it only costs $5,580 per month. Although the price of acquiring a domain name may not be low, once you buy the domain name, you only need to pay a negligible renewal fee every year, which is much more cost-effective!

The difference is that with a domain name, you can track user data on the website, such as user activity, etc.; you can also build your own user database and interact with users. These results are all yours. Philip Kotler, the father of modern marketing, once said: "Companies are too focused on the cost of doing something, but in fact they should be more worried about the cost of not doing it."

Spending money on advertising or spending money on domain names? Which is more important? Companies need to weigh the pros and cons, think carefully, and don't be easily scared by the cost of acquiring domain names!

03. It's too late to change. Everyone knows that our domain name is this

Henry Ford, the founder of Ford Motor, once said: "If I asked people what they wanted, they would say more horsepower."

Users are not unaware of what they want, but habits are difficult to change. Even if many people know it is not perfect, it is still difficult to think outside the box. As an entrepreneur, how to make your company or product stand out and take the lead in industry competition is your job.

If your domain name has limitations, you should work hard to change this. For example, UberCabs.com is suitable for taxi business, but Uber.com can be used for food, freight, health, etc.

Does everyone know your domain name? Business owners can actually ask their employees to see if they need to repeatedly explain and spell the domain name to customers, and see if they often don't receive customer emails. If so, those customers are likely to be lost and go to platforms where the domain name is more compatible with the brand.

04. Domain name brokers and holders are malicious squatters

This is actually an extreme and unfair view. The domain name industry has regulations like other industries. Domain name squatting is actually illegal. The US federal law "Anti-Domain Name Squatting Consumer Protection Act" describes: Domain name squatting refers to the registration, trafficking or malicious use of Internet domain names with the intention of profiting from the reputation of trademarks belonging to others.

Therefore, unless you own the corresponding trademark, you cannot accuse others of occupying the domain name without permission; if someone registered a good domain name before you, they have the right to sell it.

Domain name brokers and holders are usually professional business people who are happy to negotiate a mutually beneficial domain name transaction agreement. Domain name investment is a business, just like any other business, you get what you pay for.

05. I only need one domain name

This is actually a very wrong idea for many companies. Did you know that Apple owns more than 19,000 domain names? Almost all the domain names related to the spelling variations of "Apple" that you can think of are under the name of Apple, such as domain names related to its product names, domain names related to specific advertising campaigns, etc.

Why does Apple do this? There may be many reasons, but the main ones are as follows:

1. Protect its own brand.

2. In order to make it easier for customers to find themselves, even if they are spelled incorrectly, they can be directed to the correct website.

3. Prevent traffic loss.

4. Make marketing activities more effective and interesting.

5. Meet the needs of global customers through specific domain names corresponding to countries/regions.

Most entrepreneurs want to make their companies bigger and stronger, so you need to protect the brand domain name well so that users can find you as easily as possible. For example, Coca-Cola, no matter which domain name you enter in Coca-cola.Com or CocaCola.com, you can reach the Coca-Cola official website.

Maybe your business may be small now, but if you want to make it bigger and stronger you must think long-term.