Do domain names impact customer acquisition?
Customer acquisition, in essence, is the heart of your business.
Not knowing this is like shooting your target blindfolded.
You are unable to achieve the results that you want if you do not know the center of your business.
What is customer acquisition?
It’s all these things that define a successful business:
1. Revenue
2. Profit
3. Loyalty
Just saying customer acquisition to you would not make sense until you understand its essence.
It’s like explaining to a kid how hydraulics makes a dentist chair go up and down.
They would only put focus on the up and down motion but really would not pay attention to the essence of hydraulics and how it is important to other things.
This usually happens.
Most people focus on the beauty of achieving the results they want without really looking further to the essence of what is behind it.
I help startups by showing them the mistakes that other startups like them make over and over again and by showing them the seven dimensions.
I know this because I reach out to them for domain names, brokering, or for acquisitions, etc.
In the last six years, I have grown my contacts to around 190,000 thru my outreach.
I have connections to some of the biggest startup incubators because we are in the marketplace.
At the end of the day, domain name business is about customer acquisition.
My thesis is: your domain name equals your brand equals your brand equity.
Your domain name is your brand.
Customer acquisition increases when you create an effortless path for your customers.
What are the seven dimensions to a domain name?
If you go out and say: “your domain name equals your brand equity”, people will usually say that they are fine with the .co, the get, the my, or the try.
That’s a mistake right there.
Do not just settle with what is within your reach.
Invest in a domain that can really add value to your company.
Moreover, do not take the risk of spending a lot of money for a domain name that is not even equal to your brand.
When I was brokering a domain name in the insurance space, I came across a few companies that have raised $70-$80 million dollars.
They are using some derivative of their brand – their brand does not equal their domain name.
I see this as a massive confusion when you do not even know what your brand is.
What a waste of time and money for a domain that does not drive the traffic and money that you are supposed to get.
Here are the seven dimensions that you have to understand, for this to make sense:
1. Global Positioning
2. Industry Positioning
3. Branding
4. Marketing
5. SEO
6. Email Security
7. Ability to Scale
Part of what I do in sales is showing people and companies where they are at today, exposing the pain today, and the possibility in the future.
Some companies who do not understand customer acquisition think that they are good when they put a dollar in and they get a dollar 20 out.
Apparently, these companies do not know how to get their maximum potential.
What I want these companies to see is what’s on the horizon – the sandbox that you are in today is not the same sandbox that you are going to be in tomorrow.
You have the power to change the game and it all starts with having the right domain name.
What is the importance of locking in your domain?
Do not play in just one dimension.
Lock the domain in to prevent it from being acquired and owned by a new startup.
Your position will be obsolete when you do not lock in a domain and another startup company has acquired it and spent more money into their message in the UR.
The example that I frequently give about this situation is krakenrum.com and kraken.com.
Kraken Rum has probably spent $50-$70 million and they are not even on the radar today.
When you go to search, kraken.com owns it.
This means that they are driving the traffic and money away.
You do not want to be in the same position, do you?
Conclusion
It is imperative that you know the essence of customer acquisition.
My tool to widening the gap and showing you the pain that you have now is the seven dimensions.
There is not a good fit for a domain name until you see this.
You got to see the possibility that not owning your domain brand is the biggest risk that you have to scale.
You can find more information on my domain broker page if you need help acquiring a domain.
