First of all, a domain name is just an address used to locate your website on the internet. I always compare domain name/url’s to a physical property address. Domain names are usually chosen for business specific reasons. It could be picked for better Search Engine placement, company branding, or as a description of a general keyword phrase. When purchasing a new domain my key factors to consider is the size and length of the name, how easy it is to pronounce, and how memorable it is. I like to stick with the .com web addresses because most of what I do is for commercial reasons. On a weekly basis, I am always asked for assistance in the new purchase of a domain name. I am asked for what I think would be best and I am always a little scared to offer assistance. In my opinion, every new web site that I develop has a completely different purpose in mind. I find this interesting because, as I have said before, I specialize in developing web sites in the real estate and lender market. One might think that all sites in these categories would require the same consideration when choosing a style, purpose, and name. I have noticed that there is a major varying difference between all real estate professionals and lenders. Everyone is trying to come up with their own unique twist to make their business and new web site different from the rest. At the same time they are all trying to display relatively the same information i.e., properties for sale and rates. This is why the real purpose of the site and the marketing strategy should be considered from the very beginning. I have tried to narrow down to a few key issues to consider when you are purchasing a new domain name.

1) Domains purchased for Search Engine Placement

The purpose of these domains is to rank high in the search engines, because the actual domain name contains the keywords being searched for. Search Engine domains are very rarely brandable, and are mostly used exclusively as side Internet properties to redirect traffic to the main site. A company who sells real estate in the San Francisco Bay Area would benefit from acquiring sanfranciscobayarearealestate.com and bayarea.com, because that domain name has a high probability of ranking at, or very near to, the top of a search for ‘bay area real estate’. A tool that I use to find what is being searched for on the internet is: Overture Keywords (http://inventory.overture.com/d/searchinventory/suggestion/). The only problem with this strategy is that the competition for these names to actually rank well is fierce. You can check many search engine specific domain names and find that the name is nowhere near the top of the list. This is why I feel that you would really only need to consider this kind of name if you are planning on a Search Engine Optimization campaign. Keep in mind that this type of campaign often requires a lot of time and effort to make it work.

2) Branding Domains

When starting a new web venture, the obvious choice for brand domains is to start with your own personal name. This can be relatively successful if you have a common name (like mine Brian Baker), and can provide new potential clients with an easy name to remember. In the case that your name is not as easy to spell or pronounce as mine, you might consider a creative approach of a brandable name. A domain that is about 5 letters long is highly desirable for a brand. However, the domain must sound right as well. I have heard opions on both sides whether or not to use your own name or a branded domain name. I have always started with the fact that personal names will more than likely show up near the top of the search engine list. This provides the name a ‘phone book’ type of status. If you purchase and develop a site in your own name, chances are that you will show up at the top when someone does a search for your name. This is different than search engine domains because the competition is far less competitive and chances are that you are doing a great deal of off line marketing and your personal name gets its own memorable brand. At least potential clients have a way of finding you.

3) General Term Domains

General term domains are the most popular choice. Generic words like realestate.com and lender.com have a value of their own that cannot be ignored. Like Search Engine Placement Domains, which attract a large number of visitors through search engine referrals, so do generic word domains. For this reason, generic word names are still very much desired and their value continues to rise. These type of names cover all areas for a good domain. They are easily branded and search engine friendly. The only problem here is that the names are not availble for purchase. There are other smart marketers out there that have owned these names for many years and they are not about to let them go, often asking thousands of dollars just for the purchase of the domain name itself. I have strong feelings whether or not these names are ever worth the asking price (at least in the real estate and lender market). The only reason being that real estate tends to be a more local effort. Lenders might consider the purchase of one of these names purely because their marketing costs on the internet can already be quite expensive. I have mentioned in a previous post that Google Adwords can cost more than $5 per visitor. This could easily add up to thousands of dollars in cost pretty quick. A general domain name would instantly bring this traffic at no extra cost (people just type in these names first before even going to Google to see what comes up).