Most brick and mortar businesses often do not make it to their 3rd birthday. Why?
Well, there are many reasons as to why businesses, specifically small businesses, fail and never make it past 3 years in business.
Sometimes it’s not having a market.
Sometimes it’s mismanagement.
Sometimes it’s customer service.
Sometimes it’s lack of foot traffic or a bad location.
Sometimes it’s the product or service being offering. And the list goes one.
All of the aforementioned options have a price tag deemed as the cost of doing business.
But did you know that a single asset could reduce, if not eliminate, the total cost of ownership of the aforementioned options?
This single asset I speak of can give you more options that those I listed. Yes, more options from ONE asset alone.
Okay, so it’s no secret that domain names are critical to business today and have been for the last 20 and counting years. When precisely selected, a domain name can reduce the marketing spend and sometimes eliminate it altogether.
How do I know, you ask?
From personal experience, I’ve watched my own traffic increase as I no longer use pay-per-click advertising services of Google, Facebook and Bing.
In fact, the marketing spend I once invested in such search marketing services is now being invested in finding expired domains once used by legitimate companies now gone belly up.
That’s a powerful concept mentioned in the previous sentences. Don’t just skim or gloss over it, RE-READ IT.
A jewelry store sells diamonds, not bricks.
Think about how much your business is missing out on because you chose JanesJewelry.com or JanesJewelryShop.com as its digital presence. Instead, why not open the gate to increased traffic and reduced cost using a search friendly domain such as CedarParkJewelry.com? After all, most people tend to search using keywords and city name or location when they search.
Now if you checked CedarParkJewelry.com, you’d find it’s already taken. As a matter of fact, I’ve watched this company grow leaps and bounds, branding themselves as Cedar Park’s Premier Jeweler. From a search-friendly domain to substantial type-in traffic, CedarParkJewelry.com is the perfect domain name.
During the Super Bowl a few years back, I took notice of this company. Why? Well, their televised ad had CedarParkJewelry.com posted in big block letters at the bottom. I can’t tell you exactly what their ad was about, but I remember seeing the domain for sure.
Walk with me for minute, if you will. CedarParkJewelry.com essentially saved and spent marketing dollars to reach Austin and surrounding cities outside of Cedar Park. Not a bad way to invest money when YOU KNOW people are watching commercials during one of the most televised events in a year.
I’m not certain of their general marketing spend, but I’m certain that they are reaping benefits hand over fist using CedarParkJewelry.com as their credible, primary digital presence. Which brings me to my next point.
Diamonds are a girl’s best friend, not bricks.
A business can own and use more than one domain just as a girl loves owning and wearing more than one diamond. You can buy her perfect bricks if you want, but she won’t stay long. However, she’ll stay for a while even if the diamonds are a bit flawed. You get my point?
Here’s my point from a local marketing vantage point: there are more cities than Cedar Park, Texas and every city I’ve been too always has a Jeweler or a Jewelry store.
See, many times, business owners get hung up on the fame, glitter, glitz and glamour of seeing their name as their business’s digital presence. What a perfect brick for a digital presence for your brick and mortar shop. I’ve been guilty of this too, so calm down and keep reading.
Here’s what I did and still do today (and you can too!) in addition to owning my own brand domain. I simply purchase geo keyword domains as they are available. Sometimes I’m able to hand register domains and other times I’m able to win a few expired domain auctions.
Nevertheless, why not invest a measly $10-$15 a year per domain name to drive hundreds or thousands of dollars in business? Calculate that ROI versus your current marketing spend and ROI. Heck, that’s two lattes of your choice that you could miss out on once a year ONLY to drive more business year over year.
Not only does this domain marketing tactic work at the local level, but it works at a national and global level too. Instead of JeffsACServices.com, why not invest and procure ACRepair.com? Or why not BulkJunkRemoval.com instead of JamesJunkPickupServices.com?
Okay, I know you’re thinking that buying such a domain will cost millions. It may, but it may not. Don’t think of it as a cost, but rather an investment for your business that is a drop in the bucket in comparison to the revenue it will bring to your business.
Is it too late? Speaking at a global level, you may have to buy the domain from a 3rd party. Speaking from a local viewpoint, not by a long shot. There are so many flawed diamonds awaiting for someone to lose focus on their perfect brick of a domain and focus more on uncovering the true value of the flawed diamond.