After previewing the firm’s coming arrival in September, Boston Ivy has launched its domain registry services this week. Focusing on the financial and trading sector, Boston Ivy is marketing its offering as a service to help brands distinguish themselves. Becoming available through Boston Ivy are new top line domains (TLD) of .broker, .cfd, .forex, .trading, .markets and .spreadbetting.
The new TLDs are part of the overall opening of domains which have become available through a bidding process from the Internet Corporation for Assigned Names and Numbers (ICANN). Among the newly minted names include .xyz, .technology and .guru.
An applicable question is just how important are these new TLDs for brands and what are their competitive advantages when compared to .com? Discussing the topic, Boston Ivy presented a Workshop at the Finance Magnates London Summit titled “Choosing a High Impact Domain Name.” The presentation was given by Solomon Amoako, Chief Sales Officer at Sedo, an online marketplace of domains.
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Amoako explained that there are five key points when choosing a domain name, of which the last two are the most relevant with the new alternative TLDs. First is research, and the analysis of the target market and demographics to better understand what names and extensions fit best. As an example, Amoako cited that Europe is more accepting of non-.com TLDs compared to North America where “the .com is king”.
Second and third are keeping the domain simple and to avoid using numbers or hyphens. Difficult names or adding numerals and hyphens can make it difficult for web users to remember the spelling and searching for the site.
Related to the new TLDs is the fourth point which is finding a domain that fits with the community. The idea is that by using a TLD like .technology or .trading it allows a site to connect better with users that have an affinity towards technology or trading.
Fifth on the list, and perhaps the most interesting, is taking into account how the domain will effect click through rates. Amoako explained that domains that are easier to understand what the company does have high click through rates (CTR) on web searches. For paid search, this can become very important as higher CTRs provide sites with higher quality scores from search portals like Google resulting in lower cost per click and ultimately cheaper acquisition costs. As an example, Amoako cited IG.Forex and that by adding the .forex domain it provides a straightforward way for potential customers to easily know what IG is.
In terms of the future, Amoako stated that we have yet to see much marketing of the new TLDs. However, he believed that as brands embrace the new TLDs, such as Google which purchased the .App registry, market awareness for these alternative web extensions will grow strongly. In terms of the .forex TLD, Amoako predicted that FX.Forex would be a million dollar domain in the future.