A few weeks ago, I shared that I'll be occasionally sending you updates on the progress of growing EcommerceMarketer.com from the ground up, and I gave you the rundown on current profit/loss and growth numbers.
For today's update, I wanted to share why I decided to spend $2,700 on the domain name: EcommerceMarketer.com instead of just buying Ecommerce-Marketer.com for $12 (which I did also buy, yes).
The only difference, is the dash between the words...
I wouldn't blame anyone for thinking it's a little too expensive to justify (but at least I didn't spend $1.5 million like my buddy Noah did on Sumo.com).
One of the most important rules of marketing, especially for a brand new business: Remove as much friction as possible for potential customers.
Have you ever heard the name of a business, and then tried to go to their website?
You probably do what I do, and just type the name of the business with ".com" at the end, right?
And what happens if when you do that, you find a blank page?
Or worse, you find a different business that owns that domain name and forwarded it to their company website?
What most people do, is close the browser and move on with their life (or buy from that competitor).
Put simply, the business loses a new potential customer.
Currently, the coaching product I sell on the site is priced at $3,000.
With that in mind, the question isn't whether or not it's worth it to pay $2,700 to remove a dash from a domain name, but rather if it's likely that by removing the dash, and therefor removing the friction of finding the website for millions of people in the future, it's going to result in at least one sale.
To me, the answer is an easy yes.
I'm not saying that everyone should buy an expensive domain, I'm just explaining my thought process behind why it was worth it to me in this situation.
If you can grab a good domain name for $12...by all means, go for it.