It’s no secret that the United States is the best place to launch a new venture, given its robust startup ecosystems. For New York City startups, it’s easier than ever to get noticed. News coverage is the mainstay in that regard, but an increasing number of companies are looking for an easier and more reliable option, as news coverage is hardly guaranteed. The solution that these startups have been looking for is in their domain.
The .nyc domain is quickly becoming one of the most popular domains out there, as New York’s top industries—finance, media, telecom, advertising, and tech—are moving towards the localized domain. And, since the domain itself is only 3 letters long, its concision makes it an attractive buy for New York City startups and outsider companies who want to do business here. For those companies, the .nyc domain is a great second choice behind .com.
Millennials and venture capitalists alike are increasingly looking locally for new experiences and new investment opportunities. For both types of people, localization is key. Increasingly, for companies of all stages and locations, the New York City (.nyc) domain is a long-term investment. It showcases a company’s understanding that New York City is the best place to start and grow, and it signals to investors that companies with the .nyc domain are prepared to take advantage of what New York City has to offer them.
“Developed by and for New Yorkers, .nyc provides a unique platform for Big Apple startups and entrepreneurs to stand out from the crowd and showcase their affiliation with the city…The growing number of new companies using .nyc underscores the power of technology to shape and transform our local economy, and empower our entrepreneurs.”
-Jeff Merritt, Director of Innovation for the City of New York
Companies are flocking to the .nyc domain for both digital exposure to the New York City market and coverage as new and savvy entities. Being a New Yorker has high intrinsic value, as well as high business value. For many entrepreneurs, using the .nyc domain to their advantage is becoming a no-brainer.
A Google search for “nyc domain names” yields almost exclusively advertising and marketing results. New York domains are “premium”, and “exclusively for New Yorkers.” Have you heard of upgrade.nyc? It’s a digital marketplace solely concerned with helping companies register with the eponymous domain, showing the value of these domains isn’t just momentary glitter. It’s thriving and growing at an impressive rate.
Follow the Money
One might wonder what the big deal is—-why would any company forego any opportunity to register as a .com or even a .co domain? The market for these domains is robust. To prove this, as with everything, follow the money. Domainnamewire.com reports that at a .nyc domain name registry auction, total sales topped $70,000, with realestate.nyc selling highest for $21,300. Unsurprisingly, real estate is an important industry in New York City, and, the website notes, “the numbers would have been higher if .nyc ownership wasn’t restricted.”
For foreign companies looking to stake their roots here, the domain name is even more valuable: the top .nyc domain, outlier.nyc, though headquartered in Brooklyn, showcases German models and German fashion labels. Even though only NYC-based companies can buy these domains, those lucky enough to do business with them can share in the value of American purchasing power.
SEO is Key
Companies native to New York and steeped in its markets are taking advantage of this. NYC-based digital agency NeedGrowth, a growth-hacking business that has achieved remarkable growth for a wide variety of companies, uses the the .nyc domain as one of its top tools for growing followership, search engine optimization (SEO), and the overall companies themselves. Concerning search engines like Google, Yahoo, Bing, and many others, shorter domain names increase the ranking of websites in search results relative to the domain name’s popularity. The more popular a website, the more likely it will appear in the first page, second page, third page, and so on, of results of any user search.
Alexa.com, the definitive popularity ranking clearinghouse on web data ranks website popularity by rank, reach, and page views per million data based on global 1-month averages. On average, .nyc domains regularly rank in the top 350,000 websites on the internet, giving the .nyc domain a high ROI (return on investment) in terms of page ranking. Of course, higher page ranks increase inbound website traffic, which in turn increases the customer retention percentage a company’s website will bring. In terms of marketing, this is gold to companies like MageMojo, whose .nyc domain marketing NeedGrowth utilized to triple the company’s growth.
Another example of this kind of marketing lies in redirection. Postcard, a localized social app that shows people where their friends are and where to have fun with them, has utilized uncover.nyc as a second site from which searchers and prospective users can be redirected to their site.
As a rule, the more websites a company can use to redirect to their parent website, the higher their customer page views, clicks, and retention, helping companies like MageMojo and Postcard increase their overall SEO and sales by double-digit, if not triple-digit, percentages. For foreign companies, therefore, this is not just gold, but platinum in 2016, where amount of web traffic determines customer retention and sales.
The .nyc domain is the latest digital tool that companies all over the world are using to market their products in NYC, increase their customer bases, sell their products, and capitalize on the purchasing power of New Yorkers. We are only beginning to see the effect that localized domains like .nyc will have on startups and big businesses alike, and it’s safe to say that companies that know how to harness the .nyc domain will have a big leg up on the competition.