Livestream CEO: Good Domain is the Best Marketing Investment Ever Made
A few months ago Inc. published a short yet inspiring video interview with Livestream CEO Max Haot on the subject of business naming. (Embedded)
As reported by DomainNameNews in 2009, Mogulus rebranded to Livestream after a $100,000 domain purchase. The live video streaming service capitalized on the booming popularity of their niche and has grown all the more because of their category defining domain name.
Should startups invest in a high quality domain name?
This interesting topic of discussion continues to arise in the startup world. Forbes contributor David Teten just published an article posing that very same question.
David Teten, a venture capitalist and domain industry veteran, begins by describing the characteristics of a good domain name.
Most of these points are common sense in 2013; the domain should be related to your business, descriptive, and of-course, it should sound good. I have attempted to define quality brand domains myself in more detail.
David then shares several brief success stories of startups built on great domains such as Doctor.com, Klout.com, WindowWashing.com, GeneticScreening.com, Mint.com and others.
Here is some great advice from the article that I’m compelled to share.
- “(domains) remain key to your email identity, and fundamental to your marketing and even capital-raising.”
- “your domain name is the very first vehicle by which potential investors/customers/employees evaluate your company before they even engage.”
- “one of the key ways VCs filter the deluge of companies raising funding is their domain name.”
- “(spend) six or seven figures on a good domain name, but only after you have proven a significant market exists for your product, you have achieved product-market fit, and you have either earned a lot of cash in the bank (the best!) or raised tens of millions in venture capital.”
I look forward to reading part two on using vacant or under monetized domains as a startup brand.
Have you thought about your business brand name as a marketing investment?
The concept of a marketable domain name has evolved in recent years as Flippa CEO Dave Slutzkin recently wrote about here on DotSauce.
In his article about marketable domains, Dave concluded that businesses should “place more emphasis on domain specificity and memorability, since they translate directly into targetability.” Those are certainly some of my favorite adjectives that end in i-t-y and a great addition to the earlier advice offered by David Teten on selecting a good domain.
I’m sure Livestream’s CEO is not alone in his belief that a good domain name is the best marketing investment he’s ever made. A domain name provides an immediate opportunity for brand recognition by subconsciously telling a story about your business to every potential customer.
Domain names work as a vehicle to drive traffic (no pun intended) and instill confidence in visitors. Investing in a quality .COM domain name with descriptive, memorable keywords, and a secure server (HTTPS) for eCommerce properties will boost that confidence and help tremendously to grow your business.