This is a great opportunity for startups to claim their domain names in time for the opening of this magnificent project. The first phase of construction of the $500bn futuristic city has been built with the second phase to be announced by the end of this year.
The first phase of the giant project covered economic planning and strategy, funding and the roadmap of the development, whilst phase two will announce detailed plans for Neom’s 16 economic sectors and regions, which is planned to be completed by the end of the year.
Crown Prince Mohammed bin Salman announced in 2017 that the project would be built on the Red Sea coast, which comprises a 26,500km² area in the far north-west of Saudi Arabia.
Neom, aims to be the largest global model in every sector focusing on advanced spheres and technologies powered by robots and generated solely by solar and wind energy.
The name is short for Latin-Arabic term Neo-Mustaqbal, which means “new future”.
As always I quote a very interesting video that ‘Chris Zuiker’ has made, teaching you the reality of pricing domain names. Most domain names will not sell as they do not have raw equity. Although his calculations are in line with what I do when it comes to pricing domain names I do disagree on one count as he mentions that he multiplies the price of the keyword by the amount of searches per month and divides that by 25% but in reality a click through ratio is about 2%.
To firstly understand what a brand is, one needs to understand the concept. A brand is an unique mark such as: sign, symbol, words, slogan or a combination of these. It is a designed image that identifies a product and differentiates it from its competitors and is remembered by the public.
Eventually, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer’s mind (see positioning). Therefore brands help consumers know the difference in crowded and complex marketplace, by standing out from its competitors. A legal name for a brand is trademark and, when it identifies or represents a firm, it is called a brand name. See also corporate identity.
What is Brand Equity?
When a Brand gets national or international recognition it starts to have brand equity which is a marketing term that describes a brand’s value. That value is determined by consumer perception of their experiences with the brand. If people think highly of a brand and recommend it to others it starts to have positive brand equity. When a brand consistently under-delivers, disappoints and has bad reviews to the point where people avoid buying it or using it’s services, it ends up having negative brand equity.
Positive brand equity has value:
Once the brand is well known and sought after, companies can then charge more for a product or service from credibility of brand equity. That value can be transferred to line extensions – products related to the brand that include the brand name – so a business can make more cash-flow from the brand. It can help support an organizations stock cost..
How Brand Equity Develops
Brand equity development and growth is a direct result of a customer’s encounters with the brand. The proceedure commonly involves the natural association with the consumer and the brand that unurls following an anticipated area:
Awareness – The brand is acquainted with its intended targeted audience – with aggravated marketing and advertising strategies, through television, radio, editorial and ppc advertising.
Recognition – Customers become acquainted with the brand and have a mental visualisation of what the mark looks like.
Trial – When the consumer perceives the brand with confidence, which makes them consistantly loyal to continually purchase it and is therefore more inclined to recommend it to others simply from good experience.
Loyalty – After a progression of good brand encounters, consumers will start making good reviews which can enchance the brand name and the consumer will then recommend it to others, through word of mouth.
Examples of Positive Brand Equity
Examples of Negative Brand Equity
Negative brand equity occurs when an organizations brand image actually has a negative impact on its business – meaning that the organization would be better off trading without a brand name. In the Seventies when Tesco’s, UK’s grocery brand was so inefficiently perceived that Imperial Tobacco decided not to be associated with the retailer or acquire them because of the paranoid fear of being associated with such a tarnished and unpopular organization.
It happened again in the Nineties when Skoda despite spending millions on Advertising and Marketing Campaigns could not convince the british consumers to buy its cars. Consumer marketing research later conducted affirmed that 66% of its objective market would certainly not consider purchasing anything that resembled the Skoda badge, because it was perceived as cheap and without class and not noteworthy.
Financial brand Goldman Sachs lost its brands reputation when the public learned of its role in the 2008 financial crisis.
Car maker Toyota suffered in 2009 when it had to recall more than 8 million vehicles because of unintended acceleration, and oil and gas organizatiin BP lost critical brand equity after the U.S. Gulf of Mexico oil slick in 2010.
Achieving positive brand equity is only half the job; maintaining it consistent reputation is more difficult as in the case of Chipotle’s in 2015 food poisoning crisis where by one negative incident can wipe out years of favorable brand equity.
Finally – Remember when you have a domain name, you have to establish first of all how will it benefit the end user. How are you going to convince someone to buy your domain name when they already have a developed website with their desired domain name?
Is the domain name brandable
Who would benefit from the brand name
Has it got brand equity (Do you think that this name will be well known and why and how much will it cost for advertising and marketing)?
Is your domain developed (Visualisation and SEO Optimization helps the end user imagine what their business will look like).
Is your domain generating traffic (high volumns of traffic help companies get more business)
Is your domain name a costly ppc keyword (consider developing a blog for the enduser).
Like I have said in my past blog posts many moons ago and also in my book ‘Domain Power’, do not register purposely mis-spelt domain names. Firstly they have no value, they will not be ranked by Google and they serve no purpose to the end user as websites are searched for by readable keywords.
Furthermore if you do not have a website or landing page seo optimized ready for the end user to take over, what are you actually selling, what value can you add to the domain name.
I am shortly going to be changing my terms and will not longer accept mis-spelt domain names and onlyTLDs and ccTLDs. I believe that GTLDs other than .org .net .info .co will not be ranked by Google and the name of the game is to increase traffic to the said business, so how is Google going to know where to drive traffic to using a domain extension such as dot tv, dot photo etc? Perhaps a company from the UK for example on a small budget for pay per click advertising is not going to want traffic from Tuvalu if they were to register a domain name with .tv on the end of it . These type of ccTLDs have been reimagined in creative ways and dot tv is now commonly used for websites that feature video- or TV-style media and serve no purpose other than to the people of Tuvalu .
Here is a mis-spelt domain which I have been asked to list today: www.cardssystems.com
Remember Domain Brokers are not Miracle Workers. I suggest you read up on SEO to help you understand the fundamentals of how Domain Names and Keywords matter in driving traffic to a business.
As I have been saying until I am blue in the face, in order to create equity one needs to have a landing page that is generating traffic, not only it helps with marketing your domain name it is also going to help the prospective buyer.
View what ‘Rick Schwartz’ said himself on Namepros:
Some of the above domains have been developed but not fully optimised as optimisation is bespoke to the clients requirements.
Please make an Offer for any of the domain names above. We can discuss website devlopment and seo optimization and how these keywords can benefit your business. Below is a our own sample diagram of a seo link wheel for you to implement.