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Why Equity Bank Paid ksh.328,800 for a New Domain

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Why Equity Bank Paid ksh.328,800 for a New Domain

Equity bank through its subsidiary Finserve bought Equitel.com for $3,288. That translates to almost Sh328,800.

Why so much money? Normally, a domain name goes for around $10 dollars or ksh.1000. However, most of the names are already taken. To acquire one from an existing owner, you’ll have to agree on a premium price. Equity Bank believes the domain name gives them instant credibility and will help with search engine optimization.

It Add Credibility to Equitel

The Equitel brand was hailed by Equity Group as the ‘next big thing’ i.e. Equity 3.0. The move was to give Equity Bank the opportunity to continue its mission of furthering financial inclusion and innovative service offerings for all Kenyans by presenting their financial services offering on to a single platform which will make banking services more accessible, flexible convenient and more affordable.

Equity Bank believes that owning the “exact match” term for the name of the product will give them instant credibility in the marketplace.

Search Engine Optimization

Google has repeatedly said that your choice of domain name will not impact your search rankings. Some people have tried to study if new domains can give you a leg up if the domain name matches a search term. Most of the studies have been small or relied on anecdotal evidence.

Here’s a relevant piece of evidence: equitel.com before launch was already ranked on the first page of Google for the term “equitel”.

There could be a lot of reasons for this. It doesn’t hurt that the site has received lots of press and links thanks to its parent company.

Is Google perhaps giving some credit to the domain for being an “exact match” of the search term?

Using a non-.com domain certainly doesn’t hurt search engine optimization. The question is if it helps, and that question is still open to debate.

Want to use a new domain for your next website? Contact us to find your next domain  at Kenoobi Data, Email: data@kenoobi.com

 

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