Every since the beginning days of the internet – the practice of buying and selling domains developed. Domains have sold anywhere from a dollar to twenty million dollars. As the internet has grown and entered into every home across the world the domain market has grown and matured. In this mature market domains are now selling for millions of dollars.
Here at Domain Market we sell domains from every industry and from almost every price range. We sell the extremely expensive domains and the very affordable domains.
For some, it might seem bogus and even wasteful that a company or business would pay at or above a million dollars for a domain but there are some very valuable reasons on why an organization would pay so much. If you’re considering purchasing a domain and you can afford a million dollar domain here’s a breakdown on why you should consider buying a million dollar domain:
First – Million dollar domains are simple and short, something most affordable domains lack. Longer domains are not easy to type in, they can easily be misspelled, and are not easy to remember at all. Buying a domain for its short and simple appearance can increase your direct traffic dramatically which can heavily increase revenue and profit. Shorter domains that are cheap usually are acronyms or very unique names which can be very difficult to remember and really aren’t that simple.
Second – Domains that are over a million dollars can save millions on branding. With their short, simple and professional appearance – these million dollar domains will most likely save millions on branding. Companies that have less memorable domains usually have to spend more money or time to get more customers to remember their brand. This alone can impact the ROI dramatically. Branding is the biggest reason on why a company should spend over a million on a domain.
Third – Domains can sell trust. Before people even consider making a purchase on any website they subconsciously think about the trust of the domain. The internet is filled with scams, and consumers aren’t going to give their credit card info to another website. Million dollar domains sell trust, if it doesn’t sell trust you shouldn’t buy the domain.
Fourth – Million dollar domains can potentially sell for far more than there purchased price. If you were to buy a domain, and build it up the brand value would dramatically increase the value of the domain. With domains that have a smaller value, it can be more difficult to resell them. Building the brand name of the domain will help increase the overall value.
Five – Professionalism, the business world is obsessed with professionalism and it’s not necessarily a bad thing. Domains that are not simple or that may sound more complicated can kill the professionalism of the brand or website. Imagine comparing HappyBirthday.com to DavesBirthdayPartyStore.com, you can sense a lack of professionalism with the longer domain. Professionalism compliments trust which both together compliment conversions.
Six – Domains can represent a company for years upon years. Most expensive things in the world today are subject to depreciation and decay, domains aren’t. A domain can be very valuable digital real estate. Domains aren’t tangible assets, even though websites can experience cyber attacks, domains for the most part are protected. They can stand the test of time and if a business plans on being in business for a very long time, the million dollar domain will
Domains in the million dollar range might seem like the biggest waste of money, but really they can make a brand excel to new levels, leaving nothing but a strong return on investment. If it’s in the budget your organization should really consider buying a million dollar plus domain.