How much should you spend on a domain name?

How much should you spend on a domain name?

1. Introduction

A domain name is the most important part of any online business. It doesn’t matter whether your business is small or big if you want your business to be established. If you want to stand out from this already populated internet then a right domain may just do the magic. But how much money should you spend on a domain name? And how much time does it take from you for looking for one?

Don’t worry about this, we are here to make it easier for you. Read more: What is a Domain Name? Where should you buy from?

2. So how much should you spend on a domain name?

Actually, it varies depending on many factors, such as below:

• What kind of domain extension you want: .COM, .ORG, .NET or a .CO, .CLUB? Read more: Domain Name Extensions – What do they mean?
• Do you want to buy it from a reputed seller, a private seller or an aftermarket service? Which one is a better source?
• For how many years want to buy it at once? 1 year, 2 years or 10 years? Do you want to buy any add-on service like domain Privacy protection?

Basically, the domain name may cost you in between $0.99 to $20 yearly depending upon whether you use any coupon or special discount. Many extensions like .store, .global or .shop, these types of newer domain extensions may sit on the upper end of the price tag as these are new to the industry.

Aftermarket services or private sellers usually sell premium domains which cost more. If you want to buy them from aftermarket services, you may visit Afternic or GoDaddy’s Domain Name Aftermarket.

You can also hire a broker to buy you a domain that you want to have by doing the bargaining part for you. You may visit GoDaddy’s Domain Buy Service.

There is no constant value for a selected domain name as buying and selling domains is itself a business the price varies widely.

3. So how to choose a good domain name?

3.1. Matching keywords

The best way to choose a domain name is by using your business matching keywords. And to be honest, keywords are the most important part of this whole internet business. Everyone wants to appear on the top search pages, but for that, you need to choose the right keyword and rank on that, so why not first add an efficient keyword to your domain name.

Use keyword research effectively to find the business related keywords for your targeted audience. If you are selling T-shirts or sneakers online, you may try related keywords that are relevant to that business.

You can use the Google Keyword Planner to research the main keyword, and then include one to your domain name. Google Keyword Planner is a great tool and easy to use, many popular online businesses use it to research relevant keyword.

3.2. Spelling mistakes and hyphens are a big NO

Nobody search for best-smartphone-cover.com. It pains on the finger to type those and customers may get frustrated. Strictly avoid these types of errors also use to avoid numerical values in your domain name.

The user may confuse among 3, three, tree. You may lose in translation if your domain is shared via word of mouth.

3.3. Make it remembering

In this overpopulated internet, only a person remembers your website if you have a memorable sweet domain name. Domain name is the first thing that a new customer will notice as soon he hears about your business. Hence, by using short and sweet names, it can become more appealing. Here your task is just to make the name that can leave a trace in the customers’ mind.

Make a list of names and then ask your friends or family members about their opinions. Then select one, just keep mind that keyword stuff.

Don’t use tongue-twisting names. Use names which reflect your brand and your purpose in a simple manner. Don’t make these mistakes or you can’t mess things in the very beginning.

4. How about another domain name?

Though you have a single business, having more than one domain name doesn’t hurt. But why I need another one?

Because of the brand protection matter.

What’s that? Ok, let me give you an example.

What will happen when someone types smatphonecase.com (misspelled) instead of smartphonecase.com? That is the reason why you probably need more another domain, my friend. If you can secure misspelled domain names and point out all to your original site, then you will never lose another error typo searches.

Imagine if your competitors buy the name bestsmartphonecase.com and drive traffic to it without having much labor only because of your online reputation, then this will hurt more than a heart attack.

So it’s better to secure your online brand.

5. Conclusion

If your budget allows, it’s better to snag similar domain names to lead the online market competition.

So, in the end, it is not just about the cost of the domain or how much you should spend on a domain, it is all about what if you don’t have one. Maybe you can’t find a perfect domain name but still, if you are ignoring it then you are losing the traffic, sales and online recognition.

So don’t waste your time registering your domain name before someone else.

Good luck to you,