After nearly twenty five years and millions of domain name purchases with the .com extension, it is safe to assume the best domain names are forever gone. So if you are a new start-up, what is the best approach in selecting a domain name? Is it better to purchase a .com extension, a .net extension, or one of the many new extensions like .house, .expert or .professional? Here are three tips to consider as you embark on your quest.
You will likely purchase your start-up domain name from a reseller or private seller.
If you are looking for a domain name for a consumer facing website, then you should focus on purchasing a (.com) extension. If you want a domain name for an Intranet site, customer or business portal, a (.net) is a smart choice. Most of the best domain names are owned by large resellers and individuals who “squat” or “park” the names until you show up with an offer. After negotiating and settling on a price, there are numerous domain name brokerage firms like godaddy.com and escrow.com who provide escrow services to facilitate a smooth transition. Hundreds of thousands of domain names are purchased and transferred between buyers and sellers every year using this approach.
Be prepared to spend $500 or more for the domain you really want.
The days of paying $10 to $35 dollars for a good domain name are over. Those days ended about ten years ago. The right domain name can save you thousands of dollars in marketing costs if it meets your branding requirements. If you think domain names are not worth the expense, go purchase a poor domain name and see how much money you end up spending trying to brand it. Like the old saying goes, you gotta pay to play.
The verdict is out on the newly approved list of ICANN extensions.
Internet Corporation for Assigned Names and Numbers (ICANN) has recently announced the release of hundreds of new domain extensions into the marketplace. Some of the new extensions include .guru, .club, .house, .yachts, .today, and many others. So, is it better to purchase a .com from a domain owner for say $1,000, or is it better to purchase .club for say $37.95 from godaddy.com? Until the verdict is in on the new extensions, the current wisdom is to purchase “mygreatshop.com” with the .com extension knowing that in the not too distant future, you’ll likely end up purchasing several versions of your domain with some of the new extensions.
For now, the (.com) extension will remain the reigning champion, and in today’s tight business climate, stick with what works.