Picking a domain name for your website/business isn’t an easy task, but with the right domain, your business will have a strong presence online. Every brand requires a domain name but what is the best way to choose it?
Let's begin with the most important part and often overlooked part, your budget!
This is the most important part when it comes to your options in choosing your domain name. A great, unforgettable domain name will come at a premium and most people want to pay as little as possible. If you want a really premium domain name to establish your brand out of the gate, I would pick the magic number of at least $300,000 just for your domain name budget. That is a fairly common number for a short, powerful, unforgettable, one word .com domain name in 2020.
It’s okay to pick your jaw up off the floor now, it’s okay and we are learning here, but this is reality.
Yes, some domain names will cost more and some will cost less, but having around $300K for your domain name budget will present you with some killer options and character length of about 6 characters or less. Keep in mind that domain names are assets, you're not buying a one-time billboard ad that vanishes after 30 days.
You will be saying and typing this domain name A LOT, so now’s not the time to go cheap. Can’t afford $300K? Maybe consider a payment option, which is often available, so certainly ask about it before lowering your budget and your expectations! For $10K-$100K you can expect a domain name length of about 8 characters. For $1K-$10K you can expect your domain length to be just under 10 characters in length. All of the budget options above are for .com domains.
If your expectations are in-line with reality, there are fewer surprises and it is more likely that your need will be filled in less time. Time is money and achieving your goal in less time should be your goal and focus.
Billions of dollars have been spent in advertising business domain names that end in .com in TV, print, and every form of advertising known to mankind. Billions! The .com domain name extension, also called TLD (Top Level Domain) is king and you should highly consider your domain name choice to be .com! Data shows that 86.86% of all domain name sales by Uniregistry Brokerage in 2018 were .com domain names.
Pro Tip: Your domain name is your brand and it should match it exactly. It should not be restrictive. Clarity by simply hearing the term should be crystal clear and unforgettable after only hearing it once. (word of mouth advertising is super important) Adding a word to your brand domain name only creates customer confusion, lack of trust and wasted energy.
Then consider your need: Is this your main business domain name? Is this for a marketing effort? New product or service? An extension of your established brand? Your specific need will reflect on your budget and options due to costs. Your main brand domain name should always have the highest budget and most focus. It isn’t uncommon for specific, powerful marketing domain names to be in the $10K-$50K range for large corporations.
KISS is really the best advice I can give, keep it simple stupid. If your main focus is Blinker Fluid in your ad, BlinkerFluid.com is the focal keyword and your domain name memorability factor is 10 by matching the focal keyword in your ad. It just makes sense.
Now that you have established your budget, understand that .com is the best choice, and you are aware of your need—where do you review your domain options to purchase?
I wish there were a magic domain name search tool that I could provide you to use. There really should be one but the fact is, there isn’t! Yes, there are countless empty boxes for you type specific keywords into, but throwing a dart with a blindfold on is not a great choice!
Domain name aftermarket inventory is spread out through private brokerage, big and small aftermarket services with questionable accuracy of inventory available for sale and individual domain ownership that may or may not be for sale.
Since there isn’t a magic domain name search tool that I can suggest, the next best thing is to use a personal connection. An insider! A professional! So email a Uniregistry domain broker at firstname.lastname@example.org
Uniregistry domain brokers handle inquiries every day on thousands of domain names. They know the top of the best available domains. They know what domain names are inquired upon the most. New inventory is added daily, by the thousands. Uniregistry Brokers have connections with private brokers and other sources who get new premium domain name inventory, which is shared between them.
Since brokers earn a commission on a domain name sale (mostly from the seller’s side), they are motivated to help you, the buyer, achieve your goal in finding the best domain name and a sale for their clients. It's truly a win/win scenario!
Now you are not the only one searching, you have help and that help is educated on domain names, domain name valuations and has an insider view of domain name inventory you may never even thought about. That’s how you choose a domain name!
Recap: Establish a budget, it’s really important. If you are not able or it simply makes better sense for you, there are many different payment options available. You can pay for your domain name over time, which may present you with more buying options, so speak with your Uniregistry Broker about payment options. .com is the best option for global branding of your business. Speak with an experienced Uniregistry Broker and present them with your budget, domain length expectations and any other helpful information to narrow down precisely what will be your perfect domain name.