domain name cost

If you own a business, you’ll need a website if you don’t already have one. If you’re at the stage where you’re designing a website, then you’re probably in the market for a domain name. Turns out, there’s more logistics to picking a domain name than having a clever name. Here’s some factors to consider when choosing a domain name.   

How much does a domain cost?

Domain names are unique because the cost can range drastically from $5 to $50 a year. Cost depends on several factors such as whether the domain you choose is a TLD (Top Level Domain) and the registrar you pick. There are even premium domain names that cost thousands of dollars to millions of dollars and those names are usually ones that are already registered and can potentially get you more business from its already established name if you’re able to buy it for yourself.

Choosing the right domain name for your website

Picking the right domain name for your website is tricky. You’ll need to consider your business and how you want it to exist online. What’s the purpose of your website? What do you want it to say and how do you want people to interact with it? These are all factors to consider when choosing a domain name. Another important factor in creating a name is to choose something that is easy to remember. Keep it short and simple. Having something easy to search and that reflects your brand or what you do, makes searching you on the internet easier. 

You’ll also need to consider the domain extensions available for purchase. The most common extensions on the internet are .com, .net, and .org, but a plethora of others are available to purchase. It’s important to research the many different extensions and choose one that fits your brand the best.

What affects domain prices

Domain prices vary depending on things like the popularity of the domain name, the type of domain name, what registrar you use, the registration length of the domain name, and the availability of the domain name. All these factors affect the total cost of your domain name.

What are premium domains?

Premium domain names are domain names that are usually already registered and are short, catchy, and in high-demand. The prices for this type of domain name can vary greatly depending on demand. A great way to think about premium domains is by comparing them to real estate. They’re a piece of property that already exists, but may be up for sale, and depending on demand, the price can fluctuate. That is why you see numbers ranging from the thousands to the millions with premium domain names. The benefit of a premium domain name is that it has the potential to get you more business because it’s an already established name.

How to pick a budget-friendly domain name

The more popular the domain, the more expensive it’s likely to be. If you’re purchasing on a budget, it would be best to pick a non-premium domain as it will save you money. Most registrars will charge a different amount for a domain name, so it’s important to do some research, compare prices, and find the best deal. If you’re having trouble finding a name, it might be good to consider hiring a domain name broker. Domain name brokers have access to discounted domain names not typically available to the general public and can have better access to find you your perfect name.

Domains have a shelf-life meaning they need to be renewed each year. Renewing your domain name early can help save you money because most registrars offer discounts or specials for renewing early. Buying for multiple years can also save you money in the long run. One, because you won’t need to renew each year, but also because most online registrars offer specials or discounts for multiple-year purchases in many cases.

Get your domain name today

GoDaddy is the perfect platform to buy a domain name because it is the world’s most popular and largest domain registrar. They have many tools and resources that can help you find or create the perfect domain name and get it registered. Domain name protection, safe and simple transfers of domain names, domain auctions are just a few of the many great features offered with GoDaddy domains. If you’re at the domain name selection stage in your business journey, register your domain today.

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