Morning Folks!!
Does your business have all the bases covered? Did you do your homework? Were you smart or dumb?
If you were to sign a contract for mall space and you sell pretzels, you may include a clause that prohibits the mall from leasing space to a competitor. That's just insuring your success and your business. There are dozens of small things that as business people we have to think of BEFORE something goes wrong.
You don't have to run your business on an "Exact Match Domain" but it's a lot smarter for YOU to own that domain than to allow a disruptive force come in and eat your lunch.
Strategically businesses have been slow to recognize the opportunity as well as the pitfalls. Now if you are a small business and you don't intend to grow that much then maybe it is less important.
If you are late to an industry an Exact Match Domain gets you recognized and taken seriously in an instant. Of course the rest is up to you. But that "Instant" is PRICELESS!!
While many focus on getting millions of visitors to their site, I think that's not how the universe really works. Let's say you get 10 people to your site, maybe the conversion of those 10 into sales have more value. Imagine a retail store getting a million customers all at once.The place would be overwhelmed and probably shoplifted out of business. Compare that with serving 1 customer at a time and getting a sale.
An Exact Match Domain has the ability to bring in real sales at a higher rate than other ways of gathering traffic. A permanent trickle of sales.
In the real world a store may hire a person to put 1000 door hangers on people's homes. From that 1000 they only need 2 or 3 new clients to make the effort worthwhile. An Exact Match Domain can be looked at as a permanent door hanger. It will ALWAYS provide a TRICKLE OF SALES!! Oh you don't want a trickle? Then how many other sales do you piss away genius? Sales happen 1 at a time. If you throw a sale in the garbage you have to work long and hard to get the next one to replace it.
Just remember during that Trickle of business, a GIANT ELEPHANT may magically appear! The way I see the Internet and a website it is all about having as many doors open as possible. As many lanes going thru your intersection as possible. Never turn a blind eye to more business because it will make your competitor stronger while making you weaker.
Now here is a confession. A BIG ONE!
Candy.com no longer needs the domain Candy.com. That does not mean they will ever get rid of it or stop using it. What it does mean is that it accomplished the mission. It took two 20 somethings with nothing but a great domain and a plan and that allowed them to be taken seriously. Allowed them into places they would not have gotten into with GregsCandy.com. It gave them the fuel and credibility to grow. It was their Booster Rocket that allowed them to crash thru all the layers and competitors. They went from $0 to some pretty staggering numbers that I am not at liberty to say. But the point is now they are in outer space. The domain launched them. But as much as I am a proponent of domains, I will also concede that the effectiveness of the domain and the greatest value comes early on. Credibility and recognition. Then it's all about performance of course. But that "Location" gets you a look. THAT is the single greatest value in an Exact Match Domain.
It's also impressive when you present your company going the extra mile to market and attract customers. Smart business is attractive business.
I don't take search or social media seriously when it comes to basing an online business. That's strictly bonus traffic. That happens from being relevant. From just doing your work and your homework each and every day and those days turn into years.
An exact match domain will not guarantee your success. But it will guarantee a host of other things for smart business people that can exploit the benefits from a few added sales and faster growth.
The Internet is nothing more than the game of Monopoly. Choose well, you will do well. Position yourself right and things will work out.
Rick Schwartz
Steve
Best analysis and comments I have read. Certainly you know the domain industry very well…
Mike
An excellent break down of the benefits of an exact match domain; extremely well put together.
I will put a link to it on my site unless you have any objections.
Mike
frank meester
You can’t Lose with an Exact Match Domain Name. But you CAN LOSE without it!
http://www.EM.domains
Bruce
Excellent post. I have always been a fan of EMD’s and it has been a profitable area for my domain business.
Bruce Breger
Excellent post Rick. EMD’s has been a profitable part of my domain business.
Anita
So true. They are category killers for a reason. So better to own them even if you don’t use them. The big corporations know this and that’s why many are in their kitty. :) Imagine if the big guns had bought Candy.com from you years ago. They would have one big competitor less!! I am sure they are eating up big time into their pie! ;)
Blu
Use it…..or lose it!
Jeff Schneider
Hello Rick,
” Pound for pound, a superior (Exact Match .COM Equimoditty Platform Asset)is the most powerful form of perpetual advertising any company can buy.” JAS
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Intelligence Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master) http://www.UseBiz.com
Mark Thorpe
EMD’s are king of domains.
They give you instant credibility.
They are category killers.
They are recognizable.
What more could you ask for.
Don’t let anyone tell you that brandable domains are better, because they’re not.
domain guy
I disagree, Emd hold their value way after the start up. mortgage.com,loans.com these category Emd get type in traffic daily. Google and social media is junk! EMD provide on going traffic. And that trickle you speak about grows every day with neutering, good content, links and relevancy.
Social media has little value, the president is talking about the economy, world trade and less than 4% employment.Social media is talking about a high school plaid shirt guy making faces behind the president. This is what Zukenberg and social media has accomplished the dumbing down of america..a sad state of affairs.
Your analysis about the fluidity of domains is right on. I never though valuable domains would go out of style.Quality traffic is priceless why pay by the click?
I am concerned google research is thinking the public does not comprehend domains. And is seeking ways to hide the domain in search. I think this is a huge mistake.
Johan
It’s obvious to me that Rick dumbs EMD’s down a little just so to pick more of them up for cheap prices. Plenty of them are dropping each day for no good reason at all.
I just hand-regged(backorder service, nope) BestDallasHotels.com TODAY!!
People miss out because they focus on unpredictable brandables and crappy numeric domains that are just overrated to me. Ever seen a famous western brand using a 5L… those are mostly specualtion and hype! Same for unpronounceable 4L.
Johan
I got that wrong.. should been a 5N… not 5L :)
Rob
Exact Match Domains + .COM Extensions = Definition of “Premium Domains”