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To estimate the value of a domain, consider what the value
of one customer is, including its lifetime residual and all
the referrals the customer will provide. Multiply this number
by the number of customers that might sign up as a result
of finding you because of your new premium URL.
If each customer is worth only $100 dollars over their lifetime
and your new domain attracts 500 new customers over the life
of your company, then that domain brings $50,000 in direct
value to your business. Suppose you have several or just one
premium domain pointing to your online business and that domain
attracts 10,000 new customers. Even if each customer were
valued at only $5 each over their lifetime, you would still
come up with the same $50,000 value to your company. Obviously,
if you can buy a domain for a couple thousand dollars that
is worth tens of thousands to your business then it's a bargain.
What Makes a Good Domain Name?
"Good" is always subjective, but there are some
general rules to go by when looking for a quality domain.
First, make sure your domain has a TLD (top level domain.
i.e. .com, .net, .org) that is appropriate for its intended
use. Looking to launch an entertainment news site that you
see yourself advertising at next year's Cannes Festival? Then
definitely stick with the .com name and maybe try to secure
the .net and .org, too.
Once you have the TLD down, make sure to keep the name relatively
short and memorable. Perhaps a real word, a phrase, an acronym,
a catch made-up word - all of these are possibilities that,
through a little brain-storming land you a high quality domain
name.
Watch out for domains with hyphens AND without hyphens. Everyone's
instinct works differently - whereas one user may never think
to type "all-my-children.com" another user will
allways type in phrases with hyphens. Also watch out for articles
such as "the". The humor newspaper The Onion has
secured their online presence by acquiring both the domain
"theonion.com" and "onion.com".
Lastly, test your desired name out. Get opinions from co-workers,
friends, people on the streets! After all, it's all these
people that you want to get to your site when it's finished,
and their novice opinions can sometimes be the best answer
to the question "is this a good domain name?"
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