After conducting detailed Market research, and successfully determined your most effective keywords/phrases; it is time to purchase a complimenting domain name. Ideally, your final choice will be consistent with your keywords, brand and marketing strategy. With that being said, here are seven additional factors to consider, before purchasing a domain name:
1. TLD or Top Level Domain: This is the extension that appears at the end of a domain name, such as dot com, ca, net, org, etc. All other factors considered equal, a dot com name will (often) sell for nearly four times the otherwise equivalent domain; registered in any other common global extension. Global extensions include dot net, org, and info. The dot mobi extension, utilized for content to be delivered to mobile devices, is rapidly gaining value and popularity. Some country specific domains, such as dot co.uk and dot de (Germany) are very prestigious, and can, in certain instances, command high prices. It is hoped that one day the dot tv extension will be used in connection with Internet enabled TV. Until hardware, distribution, and media companies are able resolve profit-sharing differences, sales of these domains will only result occasionally in high prices.
2. Number of Words: Single “real word” domains (no misspellings or abbreviations), can be enormously valuable; particularly when accompanied by the dot com extension. Two word domains, without misspellings or abbreviations, are also quite valuable if the domain name is easily monetized, and the TLD is of high quality. The values plunge when considering domain names with more than three words.
3. Content: Domain names containing misspellings, abbreviations, hyphens, special characters not found on a standard keyboard, or other text oddities often have very little value. Domain names containing a phrase that is trademarked are very likely worth nothing. The registered trademark owner could be in a legal position to summarily confiscate the domain from you.
4. Can The Domain Name Be Monetized? Website monetizing is the process of converting existing traffic into revenue. In this application, how attractive is your domain name to motivated online consumers? Will the name itself generate traffic? The extent to which a domain name can be monetized, has a major influence on its value. Domains in the Sex, Financial, and Health industries often top the list; in terms of high value sales.
5. Generic vs. Non-Generic: Generic domains are generally more valuable than non-generic ones. A generic domain name is one that contains only real words (found in a dictionary), and has no contribution from proper names (first or last). Popular generic dot com domain names can be immensely valuable, and for the most part; are very difficult to secure.
6. Number of Letters: Three letter dot com names, can be the most valuable; even if they mean nothing. However, four letter dot com names usually need to be pronounceable; to have any real value. They do not need have to be recognized words, found in the dictionary. For example, a cool sounding four letter dot com name, can promote your company brand; even if they are created. When your domain name reaches five letters or more, the value is driven by the quality of the word or words (generic vs. non-generic, etc.). When surpassing 8 or 9 letters, the value tends to decrease substantially; unless the domain name is in high demand.
7. Branding: Domain names that are easy to say and remember, easy to type in, highly reflective of predictable monetizable content, and/or generate a lot of “type-in” traffic (people typing your domain name directly into the address box in their browser, rather than finding your domain via a search engine); are highly sought after. These domain names have been known to sell for significant sums of money.
Choosing the right domain name, is much like selecting a suitable plot of land; on which to build your first home. It is an investment. Seek out a nice neighborhood that is well priced, and shows real promise for the future. Have confidence in the name that you have chosen.
Kristoffer Howes is TWMG’s CEO, Corporate SEO Expert Staff Team Leader and veteran Search Consultant. His dependable SEO training strategies have helped hundreds of Internet businesses, and Marketing firms; succeed on the Web.
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