How much is your domain name worth?
Have you been asking the right questions to your business about how much your domain name is worth?
Have you ever put an exact value on a new customer who will stay with you and your business for an entire lifetime? Or have you tried to?
Well, you will find a struggle in achieving that calculation without looking closer to home first and at the value of YOUR domain. Your DOMAIN and your WEBSITE play direct roles in attracting new customers to your business. They act as key parts of your digital shopfront and help in gaining new customers.
You can then work out the lifetime value of new customers.
Lets look at a basic example :-
- 1 New Customers each day x 365 days x Years = The Lifetime Value
So let’s then take for example a new customer sign up is worth £100 to your business. If you were to gain a new customer each day for 365 days, that would be a value of £36,500 to your business each year, That is from just one new customer each day. And now think if you were to try and grow and attract two, three or even four new customers a day.
The lifetime value of each day of new acquisition grows drastically. Lets now look at a bigger picture.
- 1 New customer each day x 365 days x 3 years = £109,500
- 5 New customers each day x 365 days x 5 years = £912,500
- 10 New customers each day x 365 days x 10 years = £3,650,000
And so look at your domain today and look at the role it plays in your business as this shows how valuable your domain name is to your business.