I saw an article on the Fox Small Business website entitled, “4 Smart Tips For Choosing a Good Domain Name,” and before I read it, I was expecting the worse. It seems that more often than not, mainstream articles about buying domain names give advice that I wouldn’t give and frequently cringe when reading. In the case of this article written by Chad Brooks, I think there is some good advice given by the author.
To boil the advice down, the author makes these four recommendations:
- Correct spelling
- Be willing to pay a premium
When it comes to domain names, I am obviously biased, but I think the fourth piece of advice is the best, and it’s the most difficult piece of advice to give someone else. Previously registered domain names can be expensive. Some can be more expensive than a car or home. Recommending that a small business owner pony up for a domain name is tough, especially with a semi-poor economy and unemployment rate that isn’t good. However, paying a premium is necessary to get a good domain name.
Ultimately, I think the most important thing is that the business have a good business plan that will work for the owner. Some might say that with a good business plan, the domain name doesn’t matter all that much. While there is some merit to that, I think a great domain name is something that can set one business apart from another business. Unless a company has a totally unique product or service, they are going to need to differentiate.
In my opinion, a company can either spend a lot of money on ongoing marketing and branding advertising, or they can spend some of that money on a domain name, and the authority and “recognition” that comes with an exceptional domain name will pay off in spades. Even if the business doesn’t work out, that domain name can be sold to someone else.
In my opinion, an good and relevant domain name is a valuable asset to a business.