Professional Domain Names - How It Works

Professional Domain Names

BoaDomains.com specializes in professional domain names to help medical and legal professions acquire names that suit their unique needs.

We make a concerted effort to acquire high quality domain names associated with the medical and legal industry in the domain name secondary market. The secondary market is a place where professionals in the domain industry buy and sell domain names that would otherwise be unattainable. Think of it as an auction house for one-of-a-kind classic cars. Because we are known in the domain name industry, and are always willing to acquire quality domain names at fair prices, we are able to secure domains from people looking to sell. This process of buying on the secondary market is how Boa Domains acquires the majority of its domains today. Domain names acquired through the secondary market are often called "premium domain names."

Pricing for professional domain names may appear to be a mystery, but Boa Domains makes buying simple. Without help, purchasing a premium domain name can be a daunting task. Prices vary wildly, and trying to make sense of them can cause the average person to give up in frustration. How can names like bestwineXXXXX.com be listed for $150,000? It's simple - when you own the domain name, you can set the price at whatever you want. Some people in the domain name business play the lottery and hope that someone desperately needs this very name and is willing to pay anything to acquire it. These high prices are almost never realized, but hope often prevails over logic.

How does Boa Domains take the mystery out of pricing? First, we establish a price. As strange as that may seem, it isn't uncommon to find domains that simply ask you to "make an offer." This is a negotiating game that we seek to avoid. Our set prices allow for no hassle negotiations and are not dependent on what you can afford. We price professional domain names on what they are worth. We have a history of sales for comparable domain names, and this information, along with our 6-factor pricing model, determines our price. The six-factor model for pricing is based on length, relevance, memorability, popularity, domain ending, and traffic.

When searching for the perfect domain, here are some things to look for:

• Short length. All things being equal, a short, professional, domain name is worth more than a long one. Why? Typing. It is easier to type a short name without error than a long one. If customers can get to you easily, then a good domain is worth the cost.
• Relevance. A medical domain name should be related to what people expect to find at the given name. For example, a website for a bone specialist needs a name that is relevant. BoneExpert.com is going to be worth more than RexThePartyAnimal.com.
• Memorability. A name that can be recalled from memory is naturally worth more than a name that requires constant advertising just to help people remember the name of your site.
• Popularity. A name like DrSmith.com is worth more than DrLapuma.com. This is a simple demand versus availability equation. There are 2,376,206 Smiths in the U.S. alone, and only 312 people who share the surname Lapuma. There is only one domain in each instance, so DrSmith.com is naturally greater in value than DrLapuma.com.
• Domain Extension. Domain endings or the Top Level Domain (TLD) refers to the .com, .net, .org, etc that follows a domain name. This is very simple - .com is king! 99% of Internet users, when given a domain name without an ending, will automatically add .com to the end. This natural tendency is directly related to the amount of traffic a web site receives.
• Traffic. The final aspect used in pricing of our professional domain names is related to popularity. Some domain names already have people trying to visit them even though they do not yet exist. This is why you need a quality domain name. It just makes sense! Some users who are looking for a bone specialist just assume that they can save time by typing BoneSpecialist.com into their browser versus going to a search engine to find a site that looks promising. This natural type in traffic has value, because you can automatically get interested visitors without paying advertising costs to a search engine.

The bottom line - a quality domain is an investment that continues to pay dividends over time. Acquire a premium domain name so that prospective customers can type the domain name directly into their web browser instead of doing a search and finding many other offers from your competitors. If you are a dentist, would you allow another dentist to advertise on your businesses door step? Of course not. Yet by not acquiring a quality domain name, you are forcing patients and prospective patients to go through a gauntlet of other options as they search for you website on Google or some other Internet search engine. You can pay for a quality domain now, or you can pay later in lost customers and increased need for advertising.

Understanding the professional domain name business.

After reading the paragraphs above, you likely understand the need for a quality, professional domain name. However, now you may be wrestling with why we and other businesses are in the premium domain business.

The short answer is that it is profitable. This response may aggravate some, who feel that the Internet should be free. However, a parallel example is that states do not force farmers who do not actively use their land to give it back to the state so it can resell it to someone who has a need for land.

This is how our business works – we provide a service to people who prefer to directly type in a domain address. This service is similar to Internet search engines, as we provide links to sites relevant to the domain name. If we did not provide this service, people would simply receive an error when they typed in the domain address of a site that does not exist.

We generate ad revenue based on this search service, just as Internet search engines generate revenue by providing people links to sites related to search terms. This revenue in most cases is sufficient to pay the small yearly domain name renewal fees and generate a small profit. This is a business model that works when done in large numbers. You do not have to like this business model, but you should be aware that it exists, and this is why quality domains are so hard to find and will become even more scarce as the Internet grows. This natural ability to generate revenue is also why quality professional domain names sell at premium prices.

Boa Domains looks forward to providing you quality service as we help you acquire your professional domain name that serves as your Internet address!