If you watched this business launch on Shark Tank now you'll know why their $3900 purchase of SleepingBaby.com last year from Afternic/GoDaddy was sooooo cheap.
So throw out those tired old CPC /Traffic metrics and Estibot calculations and look at the incalculable- the value of your name as applied a business in the real the world. The difference your name makes versus the name it replaced when making a first impression or especially asking for financing.
I am always amazed when the Sharks, particularly Mark Cuban, learn that all the millions of dollars in sales have come from"just the website" which in this case cost the business $500 from WIX!
The domain name didn't have traffic and that didn't matter either. Because within moments of mother-to-mother going into the DN Forum of parenting forums, traffic was off the hook via word of mouth which quickly led to a million dollars in sales. And of course CPC metrics don't matter either because they are selling REAL products not ads that sell products.
It's because the business offers a reason to buy to mothers... for who doesn't want a sleeping baby?
Like the best names not only does SleepingBaby.com tell you where to go for more information as a url, it offers a compelling benefit to the consumer. The name Sleeping baby is what all top shelf names are ... an ad. A name that could and should have been six figures except for the ingrained backwards metrics domainers are conditioned to live by. These metrics promote low domain self-esteem and are a ploy the big guys to throw you off so the can steal your domains for peanuts.
Sleeping Baby Inc. is the home of the fabulous Zipadee-Zip(r)! The Zipadee-Zip(r) is a mom-invented product that is restoring sleep and sanity to babies and parents all over the world in a way that no other baby sleep product has before! The Texas couple, Brett and Stephanie Parker, created this business in an effort to provide their daughter with the cozy, womb-like sleeping environment she loved, but the freedom to roll around safely and freely. Not only did it drastically improve their daughter's sleep, but parents started flocking to their website in search of a sleep solution for their little ones. Sleeping Baby Inc. has grown drastically by word of mouth marketing alone! Now babies everywhere are having sweeter dreams because of the Zipadee-Zip!
LEARN MORE: Visit www.sleepingbaby.com
Says the website: "The motto for our Sleeping Baby brand is: “Inspiring Dreams One Night at A time,” and that, in a nutshell, is how it all started …with one little dream that has since become our family’s reality. When our daughter, Charlotte, was born, the feeling that welled up inside of me could only be compared to what God’s love for us must look like. My husband, Brett and I never even realized until we first looked into those baby blues of hers that we were even capable of that kind of love."
According to Andrew Rosner,"Owning a premium domain gives a startup instant credibility and gets them one step closer (a big step) to getting serious fund raising." And I would add how perfect does this rebranding before going for the money on Shark Tank prove Andrew's point!
A better quality online name will improve your response rates from marketing and advertising investments and could change your offline, real-life destiny.
According to Sam Shank: "Finding the right name is crucial – for word of mouth, customer recall and differentiating your brand from competitors in your respective market – but it can be difficult to find one that works and even harder to find one that is available."
"Choosing the right name can be the difference between launching a commodity product with thin margins (ex. compression undergarments) and creating an iconic, category-defining brand worth hundreds of millions of dollars (ex. Spanx)."
"Also, a great name essentially optimizes the efficiency of your marketing spend. For example, if you spend a million dollars in customer acquisition initiatives and your name improves the reach of that message by 10% due to word of mouth, then the value of your name is $100,000."
It could be the best marketing investment Sleeping Baby ever made.
See them on SharkTank HERE