This is a Guest Contribution by Miranda Conner, from HowMuchIsIt.org
Whether you find yourself inclined to test the waters in the business of flipping domains, or are simply looking to make a purchase in order to market yourself and your business venture, there are a few key elements that are integral in the process of finding an authority domain name.
These factors are, in fact, relatively basic and you might find yourself saying “How can someone make a mistake like that?”
I’ve generally come to the conclusion that it has little to do with a lack of intelligence, and more to do with a misunderstanding of the importance of naming your domain.
The concept of naming a business
The majority of businesspeople put a great deal of thought into naming a business. On a very basic level, they evaluate things like title phrasing, alternate spellings for the purpose of impact, linguistic creativity via the use of play on words, so on and so forth.
However generally most, and certainly the intelligent businessperson will take into account other less noticeable factors such as presentation, varying levels of professionalism in regard to the nature of the business, length, remember-ability, and so on.
And in certain cases, many business ventures may go so far as to hire outside consultants to aid in the process of naming or tweaking existing titles.
#1 Understand the importance of your domain name
The issue that seems to be the most prevalent in the process of finding an appropriate domain name, is the mistake of underestimating the possibility of potential business long before a client actually accesses your site.
Since each domain is unique in that you will never find two separate websites that share the same domain name, you can be sure that the more appealing expected names are likely to be taken.
Unlike a business, when you pick a domain name, you know absolutely that the name is yours and yours alone.
#2 Step away from the drawing board
One important element in finding a quality domain name is immediately realizing that because domains are unique, it’s unlikely you are going to be able to have your first pick.
Unless the name you’ve decided on is relatively obscure which I will touch on later, you are likely going to find that you have to revamp and or reorganize your name in the decision process in order to find a title that is available without breaking the bank.
It’s important to be aware that if you find yourself scrapping ideas and reorganizing words within your idealized name too frequently it’s time to go back to the drawing board, because with each alteration, you begin to lose creative value.
#3 Stay away from obscure names
Obscure names in a business setting can be interesting when you have some form of advertisement to support your product outside of the name exclusively.
However, when it comes to naming a domain and utilizing the web purely as a tool to create online traffic, those who are going to be visiting your website are not relying on local advertising.
They base their decision to visit your website on the eye catchy-ness and attract-ability of the name you’ve chosen amongst a number of other names within a search engine. Strive to make your domain name concise and descriptive.
#4 Name within the context of your business
This one should be simple. If you run a law firm, it’s completely appropriate to have a domain name that utilizes the last names of the CEOs, something simple and professional that shows you take pride in your work.
However if you run a pizza shop, obviously I would advise against using the same tactic. If someone’s looking for a pizza, they’re going to immediately click on the name that stands out from the crowd. Look for techniques like altered spellings, simple play on words, so on and so forth.
#5 Watch out for double meanings!
This one speaks for itself. Before you click that button making the transaction official, ask one or two people to look over your new found name and make sure you haven’t just made yourself look like a fool.
If you run a resort on Pen Island, penisland.com is not something you want to spot after the fact.
#6 Will your domain name allow for expansion of your current business?
This is one factor that’s constantly overlooked. However it’s somewhat of a delicate decision when you decide which way to go. If you pick a name that factor in the product or service you provide, you’re more likely to receive unexpected traffic.
However if your domain name is more general, you have more room to expand future ventures that are not related to your original business model. One offers immediate response, and the other is more effective in the long term.
So, what’s crucial for you when deciding to buy a domain name? Let us know in the comments …
Miranda Conner is from the website, How Much Is It? Here, consumers around the globe can find out what things cost such as pets, professional services and so much more.
Image via Creative Commons, Lee_Salford’s Flickr photostream. (source)