Going Cheap on a Domain Can Be Very Expensive in the Long-term
Many business owners, in order to save money, choose to cut expenses by registering poor quality domains at registration price. This is based on faulty reasoning, thinking that customers will find them anyways, and that their promotional efforts will draw traffic. However, this shows lack of understanding of the power of branding and owning a strong domain for business. This is because a poor domain, although much cheaper, will need to be compensated with greater costs in advertising and marketing over time, even indefinitely. Still, it will never carry the power of the right domain name and, in fact, will send traffic to a superior domain. The following example illustrates this fundamental fact.
Want to thank iFlirt. SITE
For those that are BLIND to TRAFFIC LEAKS
250,000 went to MY iFlirt .COM in 2021. Made ME $12,000.
How much did it COST them?
Imagine how much traffic loss a MAJOR company can & WILL lose!
Another one at 3,000,000 & $25k 🤣#Domains #DomainNames pic.twitter.com/doSPoFGreW
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 👑 (@DomainKing) December 27, 2021
iFlirt.site is a very poor domain. It was likely purchased on a special offer, perhaps even for a dollar. Rick owns iFlirt.com, a far superior domain. Any effort in marketing, whether through word of mouth, banner advertising, radio or TV spots, email, social media, etc., benefits Rick. This is referred to as traffic leak. Where the first domain that comes to the minds of potential customers or users is the dot com. In this case, the leaked traffic from iFlirt.site apparently has made Rick a whopping $12,000. Why? Rick has parked the domain on a page that displays paid advertising.
So when considering to acquire a domain for your business and you are thinking of a freshly registered domain on a substandard extension that is difficult to remember, consider the cost of lost traffic.