How to Choose the Perfect Domain Name
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With so many folks setting up side hustles to make ends meet, the topic of domain names and costs comes up regularly. Unfortunately, many times, after sub-optimal domain names have been registered and paid for.
Do yourself a favor and read this entire article before spending a single dime.
Domain Names 101
Choosing The Perfect Domain
I currently have all my domain names with GoDaddy. GoDaddy is just one of many domain registrars that allow you to buy domain names. You can search for the domain you want and see if it is available. The results will reflect the price, as well as other suggested versions. Extension prices vary—some are more expensive than others.
What if the domain you want is taken? You can see if the current owner would like to sell to you. In that case, you must research and make an appropriate offer. However, if the domain pulls a decent website, the chance of selling to you is slim.
If there is no website, you can contact the owner to determine if they are open to selling the domain to you. More on that later.
In my article about side hustles, I covered the basics of getting the right domain for your new project. Today, I’ll go into further detail to cover all the bases.
Synergy
The domain name has to be appropriate for your product or service. If you are your brand, using your name makes sense. It will always be beneficial if potential customers know what you offer when they see your domain name.
Unique & Memorable
Next, you want that domain name to be easy to remember and type. Using slang or words many won’t recognize is not wise. If you choose to spell a common word differently, be prepared to do a lot of marketing to make it stick.
In that case, you’ll also want to register the commonly spelled version in case folks forget. If that version is not available, rethink your entire plan. Why send your visitors to someone else’s website?
Short & Intuitive
The shorter and more understandable, the better. Also, remember that the longer your domain, the longer your email address will be—for example:
yo*@*********************in.com.
Avoid Potential Confusion
You don’t want to use a domain that includes trademarked words or can be confused with existing trademarks. If you do, you will hear from the trademark holder’s attorneys.
In addition, avoid words that searchers can easily misspell or have multiple meanings. If you use easily misspelled terms, register the misspelled domain too.
Avoid Dashes
Don’t waste your time and money on the dashed version unless you can own the non-dashed version. In most cases, folks will forget the dash(s) and go to the non-dashed website that could be a competitor.
Preferred Extensions
As of February 2024, over 2,000 domain extensions, also known as top-level domains (TLDs), were available online. Most folks will default to the .com version just out of habit. However, here in the United States, you want to get a domain, in order of preference, with:
- .com
- .net
- .info
- .biz
- .org (for non-profits)
- .mobi (for a mobile version of your website)
Register all of the above to protect a new business venture by locking out potential competitors using the same domain with a different extension. This strategy also helps to avoid possible brand confusion.
Back to all those other extensions. Yes, you can register and use them on your new website. But understand that you must put extra effort into letting folks know you are not .com but an alternative.
If I can’t own the dot com, I look for other options. Getting found online is difficult enough. Why make it more so if you don’t have to?
What if your domain is already taken?
An already taken domain can involve two scenarios. First, the domain is already live on another website, which most likely removes it from the table for you to use. Second, the domain may be offered for sale by a private party.
Some believe owning domain names you are not actively using makes you an illegal domain squatter. That is not true.
Squatting means you own a domain name of another product, service, copyright, or trademark holder specifically to extort a high fee if they want to use that domain or to sell ads when folks assume that domain leads to the site they are looking for.
Then, there are domain investors. These folks recognize good domain names and speculate that they are valuable and that someone may want them—there is nothing illegal about speculating and having a domain portfolio.
The differentiator is intent. When you register copyright or trademarked company names or products to try and profit from that, the trademark holder is protected under the Uniform Domain-Name Resolution Policy (UDRP).
This is why you should think ahead and register any domain names you may use in the future that can likely compete with your brand.
The Value of a Great Domain Name
Just the right domain can be priceless. If you think about it, your domain name is one of your primary marketing tools; if not, it is your primary one. As a result, it is common for new ventures to build their entire marketing programs specifically around a domain name.
In other words, the right domain name can make a huge difference in your marketing efforts and recognizability. That’s where branding comes in and what makes domain names essential and valuable.
I own many domains, but I am not a speculator or investor. When I get an idea, I register the domain if I want to follow through. I also don’t hesitate to register domains that can compete with anything I do.
Some are more valuable to me because I am emotionally invested. Others have become pretty valuable over time, and I might consider releasing them for the right price.
What Good Domains Go For
Registering an available generic domain costs between $10 and $15, give or take a few bucks. Great domains that are “for sale” by private parties can often be auctioned off to the highest bidder or sold outright. There are no cheap, good domains.
Acquiring a good domain is a marketing investment in your new business venture. It should be included in your business start-up plan and budget.
While some sites calculate domain values, those values are just guidelines based on search volume, keyword, and phrase value. Like anything, however, domains are only worth what someone is willing to pay for them.
Here are a few examples:
Based on the above, one to two short and memorable word-specific domains clearly offer more value. This indicates that if you want that perfect domain, be prepared to make a serious offer.
The good news is that the standard annual renewal ($10-15) rate applies once you own the domain.
Switching Domains After the Fact
This is pretty common once folks realize their initial choice was sub-optimal or find another domain that they prefer.
It is no big deal to change your domain within WordPress. The key is appropriately redirecting from the old to the new so that search engines understand what is happening.
If you determine that a domain switch is necessary to strengthen your brand, don’t let the technicalities prevent you from doing so. Having the perfect domain for your business is that important.
Domain Registration Tips
Now, you have all the information you need to make the right choice when determining what domain to use. The key is not to underestimate the importance and impact of the right domain for your business.
At your service,
