Brand recognition is crucial to success in online retail. This is especially true in the pool, outdoor living, and spa sectors. Ryan Maltbie is an entrepreneur who knows this very well. He founded BBQGrills.com – an online retailer that specializes in outdoor cooking and barbecue grills. Maltbie made a recent strategic move when he acquired the domain name barbecues.com. He believes this will propel his brand further to new heights.
In a recent interview we discussed the importance of domain names for the online retail industry. William Shakespeare didn’t put much stock in a name when he said, “What’s in a name? The rose would still smell as sweet if we called it by another name. Maltbie believes that in the digital age, domain names are crucial to brand recognition and success.
Maltbie revealed that his company BBQGrills.com, which has been in operation for more than three and a quarter years, has enjoyed tremendous success with its current domain. He believes the domain name played a crucial role in elevating his business to its current success.
“I’d say that domain names are the best way to have a successful online business. It’s impossible to succeed without a domain name. You need something trendy, easy to remember, and easy to spell. I could not imagine being at the level we are with Ryan’s Outdoor Kitchens.com. It wouldn’t be possible,” said Maltbie.
Maltbie did not stop there. He said that acquiring the shorter domain names BBQs.com and BBQs.net was a strategic decision to enhance the online presence of his brand, as well as solidify the position of its leading online retailer within the barbecue sector.
Brands Will Pay A Premium For The Right Domain
Brands will pay more if the domain name is catchy. Hotels.com was sold in 2001 for $11million. Nfts.com, an emerging technology that sold for $15 Million in 2022, is a good example of how brands will pay more for the domains they want. Ellen Musk spent $11 million in 2014 to purchase Tesla.com. This old Shakespeare quote doesn’t seem to be relevant for the online world.
Maltbie was excited about the prospects for BBQs.com, and hinted that there were some exciting plans in store for the domain. He did not reveal any specifics, but it’s clear that Maltbie sees the purchase of BBQs.com to be a strategic move in order to expand his brand on the online retail market.
Why brands are paying top dollar for domain names
A domain name has a significant impact on a brand’s online presence. A relevant and memorable domain can be used to establish credibility, increase trust among customers and drive traffic.
It is important to choose a domain name that accurately represents a brand or niche. This will help you establish credibility with your customers. It can help establish trust with online shoppers by conveying professionalism and authenticity.
A memorable domain name is also a great way to drive traffic towards a website. It’s easy to remember a short, relevant domain name like BBQs.com and you can type it directly into your address bar. This increases direct traffic. This domain name can be shared and remembered in marketing campaigns, like word-of mouth recommendations or social media mentions. It will increase brand exposure and website traffic.
A premium domain name may also give a brand a competitive edge over their competitors. A unique and memorable domain can help brands stand out in today’s online world and separate themselves from their competitors. This can prevent customers from getting confused by a domain name that is similar to another competitor’s.
Domain names also have intrinsic values as digital assets, which can increase in value over time. Premium domain names, like real estate resources, are limited and can be viewed as a long term investment. Brands will pay a premium for a desired domain because they view it as an asset that can add to their brand equity and online visibility, which could lead to higher sales or revenue in the future.
The purchase of BBQs.com shows the importance of domains in the online retail industry. A memorable domain name that is relevant can help establish brand recognition and drive traffic to your website. It could also lead to an increase in sales. In the case BBQGrills.com the acquisition of BBQs.com will further strengthen its position as the leading online retailer for barbecues and provide new growth opportunities.
Listen to the entire conversation between Ryan Maltbie and us on the Pool Magazine Podcast.
What is a domain name? Ryan Maltbie Aqcuires BBQS.com first appeared on PoolMagazine.com – Get The Latest Pool News.
