Posted by Kristine on 17 July 2013.
You may have heard the story of how Klout.com got their domain name. (It involved a lot of badgering, stalking and $5,000 in cold cash.) It worked for Klout CEO Joe Fernandez but the same tactics may not work for you. Acquiring a good domain name can be tough but it doesn’t always require the risk of getting a restraining order.
Getting a great domain name is important for the success of your brand but you also have to work with a budget. The goal is to have a good domain you can work with and not wipe out your entire capital.
The general rule in coming up with a good domain name is to keep it short and catchy. Unfortunately, one word domains are more expensive especially if you’re aiming for a .com. You can get creative with this by coming up with a portmanteau, a variation of a real word (like Klout), or inventing a new word. Chances are domain names like this will still be available so it’ll be cheaper for you to have it registered. Prepare a list of domain names for your site so you’ll have options in case your initial preference is already taken.
If the domain name you want is already registered, there are still options for you to get it but it would be more expensive. Domain name pricing is largely subjective, although there are valuation tools online that assess the financial value of domains through backlinks, search engine rankings, traffic, etc. This means you can still negotiate with the domain owner on the price. If you’re getting the domain name for your business or startup, don’t let the owner know about it as this will definitely affect price negotiation.
It’s crucial to choose and register the right domain name before launching your brand. It would be more expensive and would entail more work if you decide to change it later on. Your work on SEO, link-building and creating content will go to waste and you’ll have to start from scratch if you change domains. It would also be confusing for your audience and you’d lose site visitors in the process.
Your domain name will be the identity of your brand online so it is worth a good investment. As with any venture however, you have to make sure that you’re investing wisely.