I was wondering if people could comment on my latest SEO strategy. I know everyone was wants a .com url but I am not going pay $2500 to someone who is sitting on it. Here is the situation: I already have a dot.com business online. However. I can't get high enough a particular search term to get hits. At this point I am about #45 on Google when I need to be on page 1. I know that the URL is important for SEO. What I am considering is to buy the term with a .biz, hopefully get to page 1 and then drive traffic to my .com What do you think?
It is good to have your main keyword in the domain name but it is not sufficient and more of this you still can be no 1 without it. Just hit some strong keyword in google search and see how many top domains on that query has the keyword in their name, a few yes, so it is not a rule. It is more simple to keep your existing domain name and make a landing page (with your keyword in the url) then go and make a permanent redirect from yourdomain.com to yourdomain.com/the-new-keyword-url and point the future backlinks to this new landing page.
This used to work very well and sometimes it still does, but with Panda and Penguin and whatever Google throws at you next, your exact match domain might not be much help. Better to focus on building your dot.com the right way and let it naturally increase.
Domain extension has absolutely no impact over rankings. A .com is just as easy to rank as a .gb.net or a .co I use a vast range of domain extensions in my portfolio and they all perform well. However I have stepped away from using exact match domains recently and now use phrase match domains almost exclusively. For example previously I would have registered 'bluewidgets.com' but now I would register 'bluewidgetshelp.com' or 'bluewidgetsonline.com' or whatever makes sense for the niche.
.com, .net and .org are pretty much equally good when it comes to SEO so I would advise you get one of these because .biz will have less chances to rank. If your domain is not available, just add one additional letter to your keyword.