Because of the economics of the way third party recruiters make their money, investing in domain names that speak exactly to the audience you recruit is something you need to spend some time thinking about.
Trust me, it’s a big mistake to pass up the opportunity to buy the perfect name (you know what that name is) because the purchase price is 5-30k. The truth is, the perfect name for your business should probably cost more than that but most people don’t have the ability to turn down an offer like that so…
How much money do you make every time you place a candidate? If you look at it from this perspective you can quickly see where I am coming from. If this domain name drives 10 placements over the next 4 years, a 35k price tag may not be so big after all. We are not even taking into account the brand awareness something like this would do for your business.
It’s this mentality that caused me to fork over an amount of money equal to 1.5 times a placement fee for www.SemiconductorJobs.com a long time ago. I set it up as a blog and wrote often about the kinds of searches I was doing and some of the searches my split partners were doing. I also linked to news that I was pretty sure the candidates I was looking for would be interested in. The investment was miniscule compared to the placement revenue that domain name was responsible for.
If a domain name that describes your search practice is available for purchase, (almost every domain name is for sale) and this domain name will cause little confusion and need very little clarification to the candidates you recruit, I suggest you look into buying it.
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Now the domain name is yours right? You just paid 1.5 times your take on a placement for it. Lots of money, I know. Your spouse is pissed and thinks you’ve lost your mind. Your friends don’t understand. I know, I know – Pat yourself on the back because you did something very smart.
But… please make sure that the domain name you are buying will be put into action quickly and most importantly, make sure it is the right domain name.Â If you want to contact me to discuss, please do so. I have good track record of buying and selling recruiting related domain names.
Next steps coming up tomorrow