It’s common to buy variations or misspellings of your own domain name. If a competitor has not already, you could certainly buy them and point them to your website. They could pickup additional traffic if someone mistyped the competitor’s domain into a browser. Of course that is a little tricky and maybe even misleading, but we wouldn’t say there is technically anything wrong with it. Just be sure to put a redirect in place so it bounces over to the real domain name, otherwise it could lead to duplicate content type issues with search engines, and would definitely look misleading to customers.
FYI – Duplicate content is bad practice for SEO.
Some businesses are worried that competitors will buy keyword oriented domains and push their own site out of the SERP’S. This can lead businesses into a frenzy to find every possible domain related to their business. While there is some value to this tactic, it will have no effect on your SEO or effectively block out your competitors, not to mention make your wallet thinner. If you decide to go this route, you should make sure all of your domains are redirected toward your main site by a 301 redirect.
The ONLY way to rank better is to offer relevant and useful content accompanied by a strategic marketing plan.
If you’re interested in increasing your traffic, contact us to learn more about our SEO services.