Should You Purchase Multiple Domain Names?

Should you purchase multiple domain names?

There have been a number of new stories recently that have highlighted the multiple purchases of top level domain names by organisations, and even celebrities. Apparently Taylor Swift has been on a domain name shopping spree which is something we never thought we’d say.

This is all happening so that they can get their hands on the new top level domain extensions that are most relevant to their business, for example .chef, or .marketing, and also the ones that could prove harmful if they got into the wrong hands. However, does that mean that every business should be snapping up every domain name that could be used by competitors or third parties that may wish the company ill will?

Here are a few things to consider;

  1. Will owning that particular domain name really benefit your business?

Although the introduction of these new domain name options is great and they make for interesting URLs, will owning them really benefit your business? Will your customers remember them, or if you plan to own them just so no one else will use them, what is the likelihood of one of your competitors purchasing and using it? Unless you are a large corporation such as Virgin or Microsoft, the benefits are probably not worth the cost.

  1. If looking at negative domain names, how real is the threat?

Again, this needs to be looked at logically, have you had any history or experience of underhanded competitor tactics? Taylor Swift was reported to have purchased a couple of URLs which, if used by the wrong people, could have seriously damaged her career, I think you would agree that the risk to her is actually pretty high. If the use of negative URLs against you is a large threat then the sensible thing to do would be to purchase the domain names in question so that they are under your control.

  1. What is your budget?

The new domain names, which become readily available on the 1st June 2015, are more expensive than the traditional or .com options. In fact, some cost 4 or 5 times as much as a traditional domain name. Therefore budget becomes a real consideration when it comes to how many of the relevant top level domain names you can afford to purchase. Again, it’s a bit of a judgement call.

Top level domain names are a fantastic concept, however, this blog post highlights that there are a number of things that need to be taken into account before you get out the company credit card. Asking yourself the key questions that are highlighted above should enable you to come to the best decision for your business.

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