Section II: Choosing Domain Names | Part 1 : Quality Domains
Choosing Domain Names
Now that you’ve got the categories of domain names down, you’re ready to hit the market. People buy domain names for three different reasons. One, you’re an entrepreneur hoping to make some money. Two, you need a domain name for your own website and you intend to be the final user. Three, you’re a cyber-squatter—a practice which is rude and, in many cases, illegal. Cyber-squatters prowl for names like www.pepsi.com, and when they come on the market they make deals to grab them before the big company (in this case, Pepsi), can get their hands on it. The parent corporation is then forced to pay hefty sums of money for their domain name. It’s just not ethical.
However, regardless of if you are an entrepreneur or a final user, you want a high-quality domain name that’s going to bring in traffic, be highly brandable, and reach consumers, readers, or whoever its supposed to be reaching, basically. If you are the final user, of course you want this for your own site, and if you are an entrepreneur, then you should realize that your domain name becomes much more valuable if final users see how much traffic it can bring in because of the strong brand imagine already created.
Think like your customers if you are hoping to sell your domain name. What would you want in a domain name? If you have a shoe store, would you want www.highheels.com or just www.heels.com? How much would you be willing to pay?
The bottom line is that if you want a domain name that will bring in the bucks, whether from a resell or from the site you build at that address, you need a good name. There are a lot of ways people will try to trick you into buying a not-so-good name, so buyer beware. It’s a tough market. Before you begin buying and selling, get to know the two qualities every good name will have, the 6 most common mistakes that you should avoid like the plague, and how to choose the best extension.
Qualities of a Good Great Name
Ok, I told you that I’d share with you the secrets of finding a good domain name; in actuality, I’m going to do you one better. If you can find a domain name with both of these qualities, it’s not a good domain name—it’s a great one. Great names don’t come around every day. You have to keep your eyes on the market and be quick at bidding. And of course, it takes a little luck, too.
• Memory Lane: Getting People to Remember Your Site
First and foremost, it doesn’t matter how amazing your product and service is; if people can’t remember you, your business will fail. Here’s a test for anyone with a television or radio—if you want cheap auto insurance, what phone number should you call? If you haven’t been living under a rock, you’re probably singing to yourself “1-800-Safe-Auto” along with the rest of the catchy jingle. The company might not have the best prices or the best coverage, but they do have a great jingle and fabulous marketing tactics, so they stick in your mind. Your domain name has to be like that jingle. If people don’t remember it, it might as well be a string of letters not spelling anything. How do you get people to remember you?
First, have a name that reflects your product or business. If you run Big Cakes Bakery, than www.bigcakes.com will be great for your domain name. Remember, however, that once you use three or more words, you jump off the memory ship and into the ocean filled with millions and millions of other domain names. Also consider what will set your domain name and business apart. Lots of bakeries make big cakes. Will you use a special logo or funny advertising campaign? Will you provide a special service?
Even if you’re buying in order to resell the domain name, keep these things in mind. If potential buyers don’t think your domain name looks and sounds marketable, they will pass it over. Companies often spend big bucks asking consultants how to best pick a domain name, so if you want to make large chunks of money, you can only do so if you have a quality product. Otherwise, you’ll be left selling low quality names for a few bucks profit here and there.
