In 2016, a troll decided to buy “JebBush.com” and redirect everyone to his political rival’s website. Who was that political rival? President Donald Trump.
The ingenious prank was marketing gold for the Trump campaign. It also highlighted how valuable a domain name can be.
Does your business have a valuable domain name? How can you ensure that you do?
Read on to learn more about how to determine your domain name value and what it means for your business.
What’s in a Name?
It may come as a surprise, but each website’s actual name is a long string of numbers called an IP address. The reason we use domain names instead is that they’re easier to remember.
Can you imagine having to type in “22.214.171.124” instead of “Facebook.com”?
Currently, there are around 342.4 million registered domain names. How will you make yours stand out?
Here are some great tips for choosing your unique domain name:
Once you’ve come up with a domain name, you’ll have to register it with a Domain Name Registrar.
It’s important to calculate the domain name worth before committing to the URL.
How to Value a Domain Name
Domain appraisal, also called valuation of a domain name, involves lots of research. You’ll need to determine what similar domains have sold for and what’s trending.
Domain name valuation takes into account several factors like:
- Domain’s length
- Recognizable name
- Whether the phrase or keywords are memorable
- Domain’s spelling
- Presence of meaningful keywords
- Age of domain name
- Current traffic level of domain
- Market size of the domain’s industry
Considering these factors takes time, industry-specific knowledge, and a level of expertise.
An expert can help you with your domain name appraisal, or you can seek out an automated appraisal site.
What Domain Name Value Means for your Business
The monetary value of domains is important to consider when you set out to buy your URL.
Domain valuations range from $10 to several million dollars per year. It wouldn’t be wise to spend thousands of dollars on a domain name that isn’t benefiting your company.
On the flip side, you don’t want to buy a cheap domain name that has nothing to do with your business.
Without a valuable domain name, it’ll be difficult to generate traffic to your site. Don’t make the mistake of choosing a domain name that will be detrimental to your business.
Why Your Domain Name Matters
Your domain name value is much more than monetary. It can make or break your website’s marketing and traffic. It can also get you into legal trouble when you aren’t careful.
Don’t settle for less. Devote the time now to choosing a valuable domain name.
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