With hundreds of millions of websites already online, chances are great that someone else has already snapped up a small business owner’s first choice domain name. As a result, many small business owners have settled for less than perfect alternatives, leading to dissatisfaction, and in some cases, lost business. A new national survey by Wakefield Research, commissioned by .CO, found that nearly half of small business owners are not completely satisfied with their current domain name.

Wakefield conducted the survey in April 2013 among 500 small business owners at companies with 100 employees or less. Among other things, the results show that:

  • 49% of small business owners tried more than one domain name before settling on their current one
  • 55% believe they have lost business by not having their first choice domain name
  • 52% would change their current domain name given the opportunity

Beyond dissatisfaction with their current domain names, the survey shows that the vast majority of small business owners lack the knowledge necessary to make informed domain name buying decisions. For instance, when choosing a domain name, 63% of small business owners fail to even consider the domain name’s “extension” (that is, the letters that come to the right of the dot, like .org, .com, .co, etc.); and upward of 80% do not consider the name’s potential impact on critical business drivers, like social and mobile media.

“It has never been more important for small business owners to understand and leverage the power of a good domain name,” said Lori Anne Wardi, co-founder and VP at .CO, in a news release. “The right Web address, built on a global, credible domain extension, can make it easy for people to find, remember and refer you customers—and to drive your business forward.”

In the next year, the Internet is expected to change dramatically, with hundreds of new domain extensions launching, such as .nyc, .green, .app, .movie, etc. “Small business owners who understand the distinctions among the different domain extensions, and can make the most informed choices, will be best positioned to survive and thrive online,” said Wardi.

The survey was conducted by Wakefield Research among 500 small business owners at companies with 100 employees or less, between April 19-29, 2013, using an email invitation and an online survey. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.

Source: Bulldog Reporter