Why Would I Spend Six Figures On A Domain?
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For new businesses, spending six figures on a domain is practically unthinkable. Even spending a few hundred dollars might seem excessive depending on your budget. Six-figure domains might seem like a luxury for the world’s biggest companies, but smaller businesses can benefit from buying a premium domain name. The best domain names can grab your customers’ attention immediately, letting them know that they’re in for a great browsing experience. Here’s a look at some of the premium domain benefits.
Benefits Of A Premium Domain Name
A domain name isn’t just a status symbol–it’s a marketing tool that helps you gain a loyal customer base. Customers are more likely to order from a business with a professional domain name rather than a confusing domain that’s awkward and hard to remember. Here’s why some of the biggest companies are willing to spend six figures on a domain name:
- Good domain names are easy to remember. When you market your business, you need to provide customers with a clean, memorable URL. If they forget your domain name because it’s clunky and confusing, you’ve just lost a potential sale. You need to make the whole process as easy as possible to secure the biggest number of visitors.
- You can redirect a common domain name to your actual website. For example, pets.com redirects to the PetSmart site. People will type in the domain name out of curiosity, then find your site and potentially place an order. It’s dificult to spend a six figures on a domain name, so a good option is you can buy a simple domain name.
- Your domain name helps customers determine whether you’re a professional business or not. Most people won’t place an order from a website with a domain like jennyscrafts445.com–websites with URLs like that tend to be sketchy and unreliable. However, a domain like jennyscrafts.com is professional and authoritative, showing customers that they can trust your business.
- Strong domain names show that you’re a leader in the industry. Even if you buy the URL pizza.com and redirect it to your real website, you’re still showing visitors that you’re committed enough to invest in a pricey domain name. This immediately builds trust in your brand. Spending six figures on a domain name is not a cup of tea for everyone, you can buy a simple domain name to start a business.
- A good domain name builds brand recognition. When you use your business or personal name as your domain, people quickly start to associate that name with your brand. That’s why a website called cathysgifts.com would be more successful than a site called cathys-store34.com.
- If your domain name contains a keyword, it could boost your search engine rankings. You’ll still need to incorporate search engine optimization (SEO) into your website, but the keyword in the domain gives you an extra boost.
For these reasons and more, businesses are willing to spend a little extra money when they buy a domain name. Some domain names have even sold for millions of dollars in the past. Spending six figures on a domain name is not a cup of tea for everyone.
Frequently Asked Questions
Is Six Figures On A Domain Name An Unreasonable Price?
At first glance, asking six figures on a domain name might seem outrageous. What gives these domain owners the right to charge hundreds of thousands of dollars for a URL that you type into a text box? What many people don’t realize is that these domain owners have earned the right to charge thousands of dollars. In fact, some of these domain names are practically a bargain considering how much they’re worth.
Many of these owners snagged their domains all the way back in the 90s–long before the Internet was as ubiquitous as it is today. At the time, nobody knew that the Internet would become one of the world’s biggest forms of communication. Essentially, these people jumped in early, and they’ve held onto these domains for decades.
This kind of investment and dedication earns them the right to charge a high price for their domain names. After all, they’re not just a name–they’re a piece of Internet history. Spending six figures on a domain name is not a cup of tea for everyone, you can either buy a premium domain name or a simple to start a business.
Domain names are also part of a competitive market. Everyone wants to have the simplest, most common domain name–and they’re willing to pay a high price for it. When they place a bid, other parties place their own bids at comparable prices. The market decides how much the domain name is worth. Six figures might sound like a lot, but the owner has the right to consider large offers from high-paying businesses.
Some people feel like domains should be priced according to their levels of use. A small business probably won’t use a domain name as a major business that makes millions of dollars in sales, so why should they pay the same price? However, domain owners don’t base their prices on actual usage. Instead, they base their prices on the domain’s potential. This means that everyone pays the same price regardless of their business size. Spending six figures on a domain name is not a cup of tea for everyone, but you can buy six figure domain if you want to start a business journey.
How Do I Know When To Spend Six Figures On A Domain Name?
The most premium domain names consist of a single common word. This could include cats.com, pizza.com, pets.com or books.com. Everyone familiar with the English language knows these words–and they rack up thousands of views just from curious browsers. Essentially, these domain names are some of the most sought-after real estate on the Internet.
Most premium domain names also have a .com extension. Because .com extensions are the most common extensions in the world, .com domains get more visitors than .org or .net domains. This also means that virtually every common word with a .com extension has been claimed. In fact, it’s increasingly difficult to find a basic, easy-to-remember domain with a .com extension. The scarcity makes these domains incredibly valuable.
Recently, new extensions like .app or .service have appeared on the market. You’ll have a bigger chance of claiming a simple domain name with one of these extensions. However, since they don’t have the classic .com extension, they’re harder to remember and a little more difficult to market. These domains usually don’t sell for six figures.
You could also call a domain name “premium” just because it’s popular. Pizza.com and antelope.com are both single-word domains, but “pizza” is obviously a much more common word. This makes it more valuable than a domain name with a less popular word or phrase.
Finally, one of the biggest advantages of owning or spending six figures on a domain is that it’s a virtually permanent form of advertisement. Commercials and banner ads will disappear, but you’ll always have your premium domain name as long as you keep renewing it. This is why it’s important to keep track of your domain so the ownership doesn’t lapse.
Is Every Premium Domain Taken?
At this point, most premium domain names are taken. You might find the odd domain with an unusual word or phrase, but those domain names aren’t necessarily in high demand anyway. Companies and individuals bought most of the .com domains long ago. Since .net and .org domain names are less common, you might be able to snag a single-word domain–however, those domains are also a little less valuable.
For the most part, acquiring a premium domain requires time and monetary investment. Spending six figures on a domain name is not a cup of tea for everyone, so try alternative options.
Can Domain Names Be A Good Investment?
With more people logging onto the Internet every day, premium domain names are becoming increasingly scarce. For some buyers, domain names aren’t a link to their website–they’re an investment that might result in major profits. A good domain name could sell for thousands or millions of dollars if they find the right buyer. This has encouraged some people to invest in domain names while they can and take advantage of the virtually inevitable rise in prices. Spending six figures on a domain name is not a cup of tea for everyone, so try alternative options.
Unfortunately, premium domain names aren’t getting any cheaper. If you want to invest in domain names, you might want to get started as soon as possible. The best domain names often cost five or six figures and might require the use of a domain broker. You could hang onto the domain name or use it for your website, then sell it when the market looks right.
A wise investment could result in a large profit in the future. Unfortunately, you can’t predict exactly what will happen in the next ten years, but you could start looking at domain names and think about where the market is heading. For example, with food delivery services booming, you could invest in domain names related to that industry. If you are looking for a big shot you should definitely spend six figures on a domain name.
Do I Need A Premium Domain Broker to Spend Six Figures on a Domain?
When you search for a premium domain name online, you might find an offer to use a domain broker. A domain broker can negotiate for a premium domain name on your behalf. Domain Brokers typically work with high-end domains that cost five or six figures on a domain and are difficult to purchase on the open market. Here’s what a domain broker could do for you:
- If possible, they’ll get in touch with the domain owner. This can be challenging without a broker because that information isn’t always available to the public. The domain broker will start with public registries, then call or email people who might be able to contact the owner.
- Once they reach the domain owner, the broker will negotiate for the domain name on your behalf. They’ll suggest a price that fits within your budget but still looks attractive to the buyer. The negotiation process could take anywhere from several days to a few weeks.
- When the domain owner accepts the offer, you’ll start the process to transfer ownership. Soon, you’ll have complete control over the domain.
Note that none of this is guaranteed. Your domain broker will search for the owner through every legal avenue, but if the owner doesn’t want to be contacted, you probably won’t be able to secure the domain. Additionally, not all domains are for sale. There’s also no guarantee that the owner will accept your offer even if it’s what they asked for. Spending six figures on a domain name is not a cup of tea for everyone, so try alternative options.
However, domain brokers have connections and authority that you don’t have on your own. Working with a domain broker could open the door to premium domains that would otherwise be unavailable. For this reason, hiring a broker is often worth your investment. The broker might accept a one-time fee, plus a commission if they complete the sale.
Should I Spend Six Figures On A Domain Name?
Ultimately, it’s up to you. Premium domain names don’t come cheap, but they’re one of the most valuable online assets that you can own. When you type in pizza.com or books.com, you automatically have a high opinion of the website that appears. The owners of that site put time, money and commitment into securing a high-end domain, showing that they’re a leader in their industry. Your customers will have the same experience when you invest in a premium domain. Spending six figures on a domain name is not a cup of tea for everyone, so try alternative options.
Unfortunately, many premium domains are off the market. However, some owners are willing to sell if they get the right offer. You could own a piece of Internet history by purchasing a domain that the owner created in the 90s. If you think that a domain might increase in value, you could buy it now and sell it later to make a profit. Domain names are a commodity like anything else–and for your business, they’re also a marketing tool. Never underestimate what a premium domain could do for your company. If you are looking for a big business you should definitely spend six figures on a domain name.
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