It might seem early in the game, but in order to reach as many customers as possible, you should buy an online domain name now rather than later so you can claim it before anyone else is able to register to use it. It may seem like it’s too early to invest in a domain name if you are in the early process of creating your business plan, but it is better to include a domain and online presence in the plan than not at all. If you decide to register an online domain name later after you have established your business, it could be too late if someone has already taken the name or other substitutions you had in mind.
A Business Man Claims his Business Domain - Shutterstock
The importance of owning a domain name
The single most important reason of owning a domain name is the basic fact that it gives your business recognition and credibility. Today in the 21st century, having an online website is a must, no argument whatsoever. If you are searching for other businesses or services to advertise on your website or sponsor an event, a promising domain name will help grab their attention as a website they should contact.
If customers are interested in your business and want to learn more about what you do and what you can offer them, they can just go online to check it out if they do not have time otherwise to go to your business. A business’ website also includes basic, but necessary contact information such as an email address and phone number to get into contact with that business. If you don’t have a good online presence, you could lose potential customers.
You may not be ready to use your domain name quite yet whether it’s because you don’t have the funding or right knowledge to maintain it. But the sooner you register and claim a domain name, the better chance you have of protecting your brand name and you can plan your online marketing plan with the name you select.
How to claim a domain name
When you claim a domain name, you should try to select an available name that is the name of your business or directly reflects what your business and website is about. Like your business’ name, it should be unique and easy to remember. If it’s very generic, then you might want to consider changing your business’ name in the first place. It should also be short, easy to spell (with no weird spelling alternatives that are not found in a dictionary), and SEO-friendly. If your first choice or even top five names have already been taken, don’t give up hope and do a brainstorming sessions to come up with some more ideas.
After you have chosen a domain name, select a service that offers cheap domain registration. Some registration fees are between $10 and $35, but there are some select sites that offer much less than $10! Even if you are not entirely sure about the domain name you have chosen, registering a name that fits well with your business is better than none at all. Consider even registering a couple if you are able to afford it until you decide upon the domain you want for your business.
Reselling extra domain names
If you have registered several different domain names and you have finally found the perfect one for your business (congrats!), you may be thinking about reselling the extra domains. But depending the length, words, and ending of the domain name, you can sell it at a high price or low price:
High-priced domains contain:
- Simple and single words
- Common words
- Popular and trending words
- Ends in .com, .org, .net, or .in
Low-priced domains:
- Multiple words or phrases
- End in .info
- Hyphenated words
When you begin or edit your business plan, make sure you include obtaining a domain name on your list of things to do. The sooner you acquire potential domain names now, the easier it will be to build your business’ presence online and market your products or services accordingly.