Companies and individuals have been venturing online for over 30 years already. The good news is it's much easier now to launch a website with features and functions that people could only dream of many years ago.
With our world changing in big ways, even more so than ever before at a speedy pace, people are launching new online businesses to adapt to the new normal and make adjustments to daily living.
You too can do it! It's more important than ever to be crystal clear where you can be found on the web as a professional. This relates to your brand, branding, and ultimately, your domain name.
Your domain name will be a focal point every time you communicate with someone about your business and its related web presence. Your domain name will be used in important email communication with customers and vendors. Your domain name may go on product packaging. Your domain name may find its way on the side of your car, shirts, stickers, TV, print, billboards, and much more. It is important and not something that should be chosen quickly or based on the lowest cost or apparent availability.
What is some good advice to think about early?
Your domain name is important. Most people spend very little time on the domain name from the start, but this is a huge problem!
You are creating a brand, not just a website.
Your domain name is the face of your online business, and picking one because it's cheap is not a good option because it'll show! Most successful online businesses domain names exactly match the companies branding with .com at the end. That is by far the norm. Here are many examples if you need them!
Creating your brand name is an important step because your domain name should match it exactly but with .com at the end. Short and fancy, like a common/short one-word English dictionary word like Chrome is fancy and cool, easy to say and spell, and would be a rocking brand name, but Google owns the domain name and will NOT likely be selling it anytime in the near future or ever. Even if they did, the domain name holds a value potentially in the millions of dollars.
So, Chrome would be a cool and powerful brand name but reality here is an important aspect to keep in mind.
Yes, a lot of good domain names are already owned by someone but there is also a domain name aftermarket that sees a lot of previously owned domain names changing ownership daily. Essentially, a lot of great brand domain names are for sale for a few thousand dollars. Yes, there are really bad domain names for sale for thousands or even tens of thousands of dollars but you are reading this to try and avoid that!
Keeping it simple
Do not be restrictive by including terms that are specific to one thing. Being a bit broader and more general removes any restriction from a naming standpoint.
Inventing fun words is fun but the human brain can only remember so much. Using common, already known terms is a much better option when creating your brand. Two-word phrases are the most popular by far. For example, if you sell fresh produce, FreshProduce with a .com added to it makes a great brand name. It holds important keywords that people already know and understand. They are also keywords that people already use on the internet to find what they are looking for. It would be a natural fit for a company that solely sells fresh produce.
Use caution when plural or singular terms may cause issues.
Say the domain name to family and friends. Is it clear? Is it spelled as it sounds? Does it look good? Is it easy to remember?
Budget for your domain name
As mentioned earlier, most people spend very little time on the domain name that will house the online business they are launching. I think they do this mainly because they are focused on the business/product aspect and didn’t consider how much the domain name ties into everything the business does, how people discover an online business, and the impression the domain name makes on the brand.
Rebranding later with a different domain name will be expensive. It likely will also require a lot of work and specific work that is going to require some specialty services to get switched over properly. By picking a good, makes-sense brand name from the start, you can be much better off in the long run.
I would suggest having at least a few thousand dollars budgeted for a domain name. Many are for sale, so just because somebody may own one already doesn’t mean you can’t buy it. There are professional domain name buyer brokerage services to help you with this process which make it safe and easy with minimal fees involved. Once you have a few terms picked out, I'd suggest speaking the Uniregistry Brokerage team on what may be available for purchase within your budget range.
You can go big if you want to go big! Yes, a lot of companies actually buy a very powerful domain name from the start and launch with that. They want to be noticed and trusted right away and a big-time brand name can grab attention and add a sense of security. This takes budgeting and knowledge to make these decisions early. Does it make long term financial sense for a new company to spend $300,000 on a domain name? For some, yes and that happens fairly often actually. When you see a powerful, short, one-word English dictionary term .com domain name, those are assets for companies and there is at least a decent chance that a domain name like that could be worth well into the six-figure range or higher range.
Spend time on picking your brand name and you should be able to secure the matching name as a .com domain. Since most new businesses that are launched are fully online or mainly online, your domain name is very important and will be into the future. The ability to secure the matching .com domain should be a factor in your final brand name decision.
Personally, I’d much rather see a catchy and easy-to-remember two-word phrase than a powerful one-word term on a domain name extension that most people will not perceive as a domain name. Dot .com domain names form about 86% of domain sales at Uni.
Your domain name can be an asset and an investment to your company. Create a budget for this purchase and think of the importance your brand name and matching domain name has on your online business today and into the future. Trust is a big deal online and owning a premium domain name can help with this.
Get help where you need it. If you are not sure how to find if somebody owns a domain name, don’t be shy to get the help you need. Uniregistry is more than happy to help with all your domain name needs and can be reached anytime at email@example.com.
Best of luck in launching your next adventure and choose your domain name wisely!