The Great Domain Name Startup Debate.
Startups have massive challenge today.
What should they do if the raw unfiltered version of their domain name is taken and already in use? Most startups may be tempted to add something to the front of the domain such as:
Try or Get or Go. What do I recommend?
Start by looking the three dimensions that are driving the market.
Great domain names are very scarce. The three dimensions look at the social, economical and technological factors driving the market.
Ok, let’s take a quick look.
Socially: Most new startups are operating completely online. There is not physical presence. They realize and want to own their raw unfiltered branded domain name.
Economically: Investors and founders are realizing that domain names are assets that can be bought and resold. This means there is money entering the market to support the demand. But…
Technological: From a tech standpoint many GREAT domain names are locked away in vaults. For example big companies are not willing to sell them even though they are not using them. It is easier to pay the renewal fee then to run the risk of selling. This means that supply is limited.
Does this sound like the perfect storm for the domain name market? Yes it does.
It is the perfect supply and demand curve.
What that mean is that it can be rare to acquire your perfect and raw, unfiltered domain name.
So, what’s the debate? Do you use try? Do you use meet? Do you use go? What do you do?
Well, the first thing is don’t do it. Adding these types of filler words create risk for your brands long term growth and security. That may mean brainstorming a different brand.
What do I recommend?
I would recommend putting your description of your industry behind your brand. So an example that I like is canopy.There are several large companies that use this for their brand.
And one of them is Canopy Tax and yes they use CanopyTax.com.
Using a strategy like this makes sure that your company is clearly differentiated from the owner of the raw unfiltered version of your brand.
Just remember this strategy still has risks but it is much better the confusion that can be created by adding a “Try” or “Get” in front of your brand. If you liked this video and update – share it up and spread the message.
What debate should we cover next?