Domain Name: Read this before you register one


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Domain Name Speculation

Domain name/s in the news all over again! Numerous articles have been devoted to this topic and every other day more and more individuals are rushing in with the hope and fantasy of registering and securing a name that will make it up to the front headlines of the news.

 

Domain name

You may already have heard that business.com was sold several years ago for a whopping $8 million while AsSeenOnTv.com sold for $5.1 Million. More recently Year2000.com received a bid for $10 on eBay which later turned out to be a hoax, but don’t be surprise if it ends up selling for a couple of millions.

Although the chance of pulling a sale like those mentioned above is slim, that simple fact has not been able to restrain and put a check to the number of people trying to buy and park a given name for speculative purposes. There are few things to keep in mind before registering domain names for the first time. SO you might be asking yourself;


Why buy a domain name?

Most of us at some point would need an online home, a place where you can tell the world who you are, what you do/have done, where you post your own work, or at least some of it. A domain name is the address of that home. It’s the name you type in on that white rectangular long box at the top also know as a URL box. So a domain name basically identifies who you are and would also often describe the services you provide. ( Also known as keywords) A domain name is the first step to building your home. Forget social networks because you can wake up the next morning without a Facebook account or an IG account for that matter. The files Facebook handles in their servers are not yours, you just entering your info on there for Zuckerberg’s empire to handle it for you. I like to compare Facebook or any other social network to a bank. Bank all your info and wake up the next morning to find out the bank has charged you some fees you don’t know about, that is Facebook messing about with your privacy policy.  You don’t have much control. That is the reason why you need you own home online.


Where Can You start buying Domain names?

Good Question. There’s so many registrar companies out there that would leave you confused and wondering  which one you should choose.  In most cases, you would want to research if the registrar has hidden Domain transfer fees, has the registrar lock feature. To elaborate on that, there has historically been a real problem with domain hijacking. This is when a domain is stolen from its legitimate owner/s. It is also known as domain theft. “Registrar-lock” was created to protect a domain against this. If the registrar lock is set, nobody can transfer your domain away from you. This is actually a good thing and best practices include having this set for all your domains. The sharper registrars enable it by default when they register or transfer a domain for you.


However, this lock can become a real problem for you if it is turned on and the registrar will not turn it off, or give you the ability to turn it on or off yourself. There’s a few other things you might need to cross check. Luckily, we have already done that for you and came up with some established registrars that we have used without any of these problems and they offer you competitive pricing. Godaddy and 1&1 are running 0.99c promotions for first time registrations. Yes, you heard that right. You can register a new domain name right now at Godaddy and 1&1 for 99c. Another reputable registrar is NameCheap.com however they don’t offer as much competitive discounts but have one of the best services in the Land. Uniregistry is also a favorite of mine but still a bot behind when it comes to promotional coupon codes.


What kind of domain names should I invest in?

Probably the first and most important question you should be asking yourself when that interest doesn’t show any signs of slowing down. Don’t be like me and get too excited, so much that you waste your hard-earned cash buying worthless domains. It can be addictive. Be aware! Do your utmost best to research.  Study the markets and see where you fit in. Do you want to get into the Chinese market when you just starting out? Maybe not. The first place to begin is a niche market that you are familiar with.  Yes , you have probably heard or read somewhere that short, catchy, pronounceable and easy to remember is the way to go but there’s so much more to it than that. I started off buying worthless names, lost money then after some research I went in again and started playing with  local insurance niche domains which is the .ca extension for Canada. I chose insurance because it was something I was familiar with. I have been in the industry for 7 years. This  strategy can be your best bet especially if you are going to be prospecting local businesses.


There’s sure going to be new businesses that are looking for an online presence. I have learnt that registering these names, then building small sites to generate leads that can be sold to those new local businesses is another of the best strategies in the game. Also, when you decide to branch out into the unknown web,Stick to a .com extension. Why you may ask? It’s not rocket science. The .com extension is still the most popular, making it the most valuable on the web. A lot of people still don’t know much about the new available extensions that are being introduced on a seasonal basis. Remember .com is still the default extension in most browser URLs, don’t expect your potential clients to remember what your new extension is off the bat. It will cost you advertising money to keep reminding them. Now looking into a few examples. In a city like Vancouver were pets are so dearly loved, I can research that niche market and see what people need/search for their pets. Maybe VancouverDogSitting.com ( Still available Go grab it!)  VancouverPetSitting.com( Taken) , VancouverPetFood.com ( Available!)  If  VancouverPetstore.ca (Available) or VancouverPetStore.com ( Taken), VancouverDogWalker.com (Taken), VancouverDogSitter.COM ( AVailable) etc. These are all service related domains if you are into that kind of stuff. Pretty much straight to the point and you are in business. They are not as valuable as one or two-word domain names but I am sure you still get the picture? There’s a potential 100% ROI ( Return on Investment) on them.

What platforms should I used for Domain parking?

Sedo, Afternic and Uniregistry are the leading platforms for your parking revenue however this way of generating money is slowly dying if you don’t own premium names i.e One word dictionary and service related names. Remember how you kept typing one name after another and all you kept getting is the sorry message that “the name was not available for registration” ?Or you see a message that says, “the domain you are looking for is parked on some named market place and you can send in a purchase inquiry? Did you ever wonder why most of those weird names you thought of, were already registered by other individuals or companies? Even worse still, for those of us who were naive enough, do you remember doing an online search, one name after another trying to see if they were available? Do you remember closing out of that browser window once you came up with a narrowed list of the names that for some reasons you just wanted to sit on and give another thought before finally settling on one?

Then a few hours, a day or two passed by, finally you made up that decision on your choice name. Unfortunately to your horror, when you go back to the website and type in that chosen name, you get that rude shock that the name was no longer available for registration.To make matters worse, you kept getting the same message when you tried the rest of the names in your narrowed list. You then sat there staring at your monitor and wondering what happened so fast within so little time. Yes it happens with some registrars.


The right way to check if your desired name is available.

There are a lot of domain name registrars out there who maintain a good and ethical business standard. Unfortunately a few of them, their re-sellers or an intrusion by a third-party abuse and take advantage of the system for their own advantage.

In order to avoid losing your name and be forced with the alternative of having to buy it back at a price! Here is a simple process of what you need to do.

Instead of doing a direct search into a domain registrar, this is what you need to do:

Read and understand about the traits of a good domain name.

Research and brainstorm about your targeted market.

Come up with a list of names that are keyword rich or rhyme with your targeted market.

Visit either www.Verisign.com or www.whois.com and do a search to find out what name or names are available.

From your list above, check out and find out which name is still available. Make a quick decision and settle on one.

Then run to one of the cheap domain name registrars and buy it right away.

If there is need, register other alternatives of your chosen name. They may be worth it down the line.

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About Lifanati

My name is Lifa Nati the founder and Editor-in-Chief of CheapSense.com. A website founded on the concept of buying well researched domains for a low price then selling for a profit, pretty much like real estate trading. I also review web products, subscription services and focus on price vs value. I am a former analyst with TD auto insurance division and complex property claims with the Co-operators insurance in BC, Canada. I am now a domain investor and part time consultant for an independent risk management adjusting firm. I have got to this stage of my life after going through a financial breakdown, losing my job and persistent bad spending habits. I went through a complete transformation after discovering the business of buying domains for a low price then selling for a profit. This led to the birth of the cheapsense website. I dive into saving tips and domain investing guides. Will be implementing free software for our users to take advantage of. They say things happen for a reason, my "why" is to serve.