Why Domain Names are important to your Business
As of 2018 it is said that there are 1,805,260,010 (1.8 billion) domain names in existence globally which makes for a lot of www’s!
So with such fierce competition out there, just how on earth are we meant to get ourselves a great domain name and also get it seen?
For sure nearly every name you can come up with will be taken and either already being used, parked or maybe even gone out of business yet still owned by someone else. Remember that you never actually purchase a domain name, you are simply leasing it for a paid for period of time though you the owner will have first choice to renew always.
Why is it important to get yourself a good domain name for your business?
- Value. Domain names are just like private number plates, they are desirable and can fetch hefty amounts of money if they are unique such as the car number plate ‘1’ which apparently sold for £7 million in 2008. Domain names also have immense value with LasVegas.com (leased out between 2005 to 2040) selling for $90 million!
- Authority. Having your exact business name as your domain will add value to your business and make it easier to sell as you grow it (this also goes for securing social media account profile names).
- Credibility. If your company name is also your domain name it will both look professional and trustworthy and more likely to encourage clients to deal with you.
- Magnet for new business. Great domain names, not always having to be your business name, can attract new clients. Single word domain names are hard to come by and expensive, but examples such as wine.com / candles.com / insurance.com / watches.com and more can generate leads on their own as they are clear and concise what the websites are likely to contain to the web browser.
So the name you want is already taken?
You should always check to see the availability of your business name as a domain and purchase it as soon as you know what you are going to use if it is not taken. If it is not available then you may have to opt to a variation ie www.ClassicCarRepairsinUK.com over www.ClassicCars.com or www.CarRepairs.com
If the name you really want is taken then also think about other variations and names, sometimes it might be worth choosing a business name simply on its availability as a domain name. If you are stuck on a name and it is taken you should see how it is being used – Is it being used as a website, is it simply a domain that is parked and is for sale, is it not in use or maybe it just points to another website.
If you have a spending budget for your domain and depending which one you are after and how it is being used you can contact the owner or site it is being used for to enquire if it is for sale. Sometimes domains are parked and already have a price attached or POA may be stated. Sometimes getting a third party professional agency to act on your behalf will help.