Choosing a domain name is a crucial first step in launching your company. However, you must select your domain name because it is an incredibly essential decision.
Before we go into the question that how much does a domain name cost, it’s important to understand what a domain name is and why it’s so important when beginning a business.
- 1 What is a Domain Name?
- 2 The importance of a Domain Name
- 3 Brand and Domain Name
- 4 How much does a Domain name cost?
- 5 The Costs of a Domain Name That Aren’t Visible
- 6 The price of a Premium Domain Name
- 7 Calculate the Worth of a Premium Domain
- 8 Expired Domain Names Cost
- 9 Purchase a domain name that isn’t on the market.
- 10 Five Factors Affecting the Cost of a Domain Name
- 11 How can Choose a Domain Name?
- 12 The best place to get a domain name
- 13 Conclusion
What is a Domain Name?
When it comes to getting your small business off the ground, a domain name is considered part of your website requirements.
Your domain name is the URL and name of your website; it’s how people find you and your website on the internet.
Domain names are essential and should be consistent with the name and identity of your organization. As a result, customers will remember you more often and go back to your website.
TLDs are a type of domain name (top-level domains)
TLDs appear on the domain’s far-right side, essentially making them the start. The most prevalent top-level domains (TLDs) or premium domain names are:
SLDs are short-term memory devices (second-level domains)
SLDs appear directly to the left of the TLD in the center of the domain. They are, after all, the domain name.
The importance of a Domain Name
If they don’t have to, no one likes to spend money on something. However, for many people, acquiring a domain name is a must. For others, it can be a better choice.
There are three primary reasons why someone would wish to purchase a domain name:
1. You’re going to build a website.
A domain name is one of the costs associated with launching and maintaining a website. It is unavoidable. You’ll need to get a domain name if you really want others to be able to visit your website.
2. You’re thinking of starting a business or creating a website.
If you have a fantastic concept for a business or website that you want to establish and a name in mind, securing the domain name as soon as possible is a good idea. If you register a domain name before someone else, you can secure it while it is still available.
3. You wish to use it as a financial asset.
Buying domain names as an investment were more common in the early days of the internet when there were more of them. Now that the majority has been grabbed, it’s difficult to locate domains at a reasonable price that are a decent investment. If you feel you have the capacity to discover a domain name that will rise in value in the future. You may purchase it now and sell it afterward.
Brand and Domain Name
Many people mistakenly believe that the term “brand” refers to a corporate name.
A brand, on the other hand, is much more than that; it is the whole picture of your firm that you convey to the world.
Everything about your company must fit together. It should convey the image you want to create. Assume you’re doing a job interview and you believe the candidate is outstanding.
He is professional. He has the appropriate experience and appears to be a good fit for the business culture.
However, as he departs, you check over his résumé again and see that his email address is Mk8ergurl2008@yahoo.com. No offense to the Mk8ergurls, but let’s be honest: an email address like that would be embarrassing.
The same may be said about branding. And the last thing you want to do is make people suspicious of you.
How much does a Domain name cost?
The cost of registering a new domain name is generally between $9 and $14.99 each year. These fees, however, may vary depending on the name extension or the domain registrar you select.
If you’re creating a new website, Bluehost is a good choice. They are one of the world’s leading web hosting providers.
On top of the 60 percent discount on their web hosting plans, they are giving WPBeginner users a free domain name and a free SSL certificate.
This is the most cost-effective way to get started because a website requires both a domain name and web hosting.
Here’s how much a fresh domain registration with various registrars costs.
Bluehost – $2.75/month for a free name and hosting
Domain.com – $7.45 with our promo code for.com domain names
Network Solutions –.com is $7.49 with our promo code, or it’s free with their site hosting bundle.
HostGator – $2.64 per month for a free name and hosting
Godaddy.com at $11.99
DreamHost – $2.59/month for a free name and hosting.
Only new.com domain names are available at this pricing. Different domain names have different prices.
When it comes to domain extensions, we usually advise consumers to pick the most popular one,.com.
The Costs of a Domain Name That Aren’t Visible
Apart from the name registration fee, there are a few hidden domain fees and upsells that you should be aware of to make the best selection possible.
Every year, domain names are registered. As long as you renew your registration every year, you may keep ownership of your domain name.
Some domain registrars provide discounts on first-year purchases. But renewal fees are much higher. If you notice an offer for $0.99 for a domain name, keep in mind that it’s generally only for the first year. Your annual renewals will be significantly more expensive.
2.WHOIS and Domain Privacy
ICANN is a non-profit public-benefit company. This company is carrying charge of managing domain name assignments and maintenance. They require each domain registrar to gather the website owner’s contact information.
Using WHOIS data, the public can have access to this information. This information can be used by other businesses and corporations to contact you.
When WHOIS data is made public, it might lead to unsolicited emails and phone calls. This is why many domain registrars provide Domain Privacy as an add-on.
This addon usually costs an extra $9.99, and it’s entirely optional. The issue is that registrars frequently add it to the cart automatically, and you must manually delete it if you do not wish to pay for it.
Some registrars, such as DreamHost, provide free domain privacy as part of their service.
3.Email accounts for businesses (Email Domains)
When purchasing a domain name, an addon for email domains will appear. And it allows you to create a professional business email address.
You don’t need to acquire this because most web hosting companies will provide you with a free business email address.
If you prefer a more professional option, we recommend purchasing it straight from G Suite or Microsoft Office365, rather than via a registrar.
The price of a Premium Domain Name
Premium domain names are those that have already been registered. Premium domain names are generally shorter, more brandable, and easier to remember. Domain investors frequently purchase premium domain names. Afterward, sell them for a profit at a higher price.
Premium domain names may cost anything from a few hundred dollars and thousands of dollars. It all relies on the name’s distinctiveness, the length of the domain, and the overall brand potential.
Some premium domains might cost tens of thousands of dollars or even millions of dollars. Here are some of the most valuable domains ever sold:
Insurance.com has a market capitalization of $35.6 million.
$30.18 million – PrivateJet.com
$11 million – Hotels.com
Facebook.com is worth $8.5 million.
$7.5 million for Business.com
Private sellers advertise premium domain names for sale on a variety of websites.
Calculate the Worth of a Premium Domain
Many newbies wonder how to make the best offer for a premium domain or a pre-registered domain name. Already-registered domain names are frequently offered for a greater price.
Users should conduct research and provide a reasonable counter-offer. Keep in mind that the domain investor only gets money when the domain is sold.
The worth of a premium domain is primarily determined by the highest price, you’re ready to pay and the lowest price the seller is prepared to take.
You may use domain marketplaces like BuyDomains, Sedo, or Flippa to get a better idea of market pricing and make a reasonable bid for a certain niche.
If the domain you want already has a price published, you can start by giving 50-75 percent of the current price.
Expired Domain Names Cost
Thousands of domain names expire every day. These are domain names whose owners have chosen not to renew their registration or have simply forgotten about them.
Expired domains are a fantastic way to find a memorable brandable domain name. Here are a few locations where you may check for domain names that have recently expired.
FreshDrop is a domain marketplace that allows you to keep track of domain names that have expired or are about to expire. It has an advanced search feature that you may use to narrow down your results.
ExpiredDomains is a domain name search engine that specializes in expired domain names. It may not appear to be as user-friendly as other domain search engines, but it contains a vast and regularly updated domain name index.
Domain Names That Have Been Expired
Normally, you may register an expired domain name at your domain registrar’s standard annual fees.
You can, however, utilize a domain backorder service if a domain name is about to expire. This enables you to reserve a domain name in advance.
Your order will be successful if there are no other advance orders for that domain name. To provide this service, most domain name firms charge a nominal one-time cost ($25 – $99).
Purchase a domain name that isn’t on the market.
So far, we’ve discussed the costs of domain names that are available for registration or that are being sold by third parties. What if you want a domain name that is already taken but not available for purchase?
There’s a high possibility you’ll still be able to get your hands on that domain name.
Many people register domain names in order to start a new internet business. Many of them never use that domain name or forsake the concept altogether.
Because they aren’t utilizing the domain name, you may make an offer straight to the domain owner.
If the domain name has a website, you may contact them using the website’s contact form.
You may also use the Whois search to locate the domain owner’s contact details and write them a note to express your interest.
People sometimes register domain names for future ideas, so even if they aren’t using it, they don’t want to sell it. Some people become greedy and demand a high price to sell their domain.
Five Factors Affecting the Cost of a Domain Name
The cost of domain registration is determined by a few key decisions.
1. The domain registrar that you select
A domain registrar is a company that sells and registers domain names. The domain registrars are hundreds, and they can charge for the dominant domains they are selling. If a registrant you think looks too costly or untrustworthy, don’t worry, you have alternative options.
The ideal domain registrar is a domain registrar that is registered with the ICANN. It has a solid industry reputation and offers domains at affordable rates based on industry standards. Better still if your registrar bundles the domain name with additional services, such as the building of a website. You can then save on more.
2. The top-level domain of your website
The extension at the end of a domain name is known as a top-level domain (TLD). The most common choice is.com, but you’ve undoubtedly also encountered websites with.net,.org,.gov, or. co, to mention a few others.
Top-level domains frequently convey information about a website. Specifically:
Country top-level domains reveal a website’s location.
Websites that end in.org are non-profit organizations.
.gov websites belong to government agencies or departments.
Educational institutions are connected with.edu websites.
In addition, many of the newer TLDs like .biz or .co signal that a website is for a business. And some like .io or .tv are indicated the specific industry a business is in.
TLDs are one of the most important elements in determining the cost of registering a domain. Those that aren’t as well-known or famous, such as.xyz or.site, will be less expensive than the more popular alternatives.
3. Contract duration
Many domain registrars have various annual prices depending on how long you want to keep the domain. You might be able to save money by paying for a few years in advance rather than yearly.
This is an excellent offer for any website owner who is convinced they will keep their website up and operating for a long time.
4. Privacy of domain names
Anyone registering a domain must give personal information such as their name, email address. This information is stored in the ICANN WHOIS database. So that authorities may track down website owners.
While the database serves a functional purpose, and your data listed implies giving up more privacy than many website owners are willing to give up. As a result, several domain registrars provide domain name privacy as an add-on service for a fee. You provide your information to the registrant. They give it to the directory to publish. Domain name privacy generally adds $10-40 per year to the cost of registering a domain.
5. Popularity of keywords
One aspect of search engine optimization is URLs (SEO). Having a domain name that includes relevant keywords. That keywords might help visitors locate your website more easily in search engines.
Be prepared to pay extra if the domain you desire contains a keyword phrase that receives a lot of Google searches.
How can Choose a Domain Name?
There are six major factors to consider when purchasing a domain name, as we discussed in our article How to Choose a Domain Name.
1. Your domain name must be simple to recall.
You should choose a domain name that is simple to remember. But, exactly, what does that imply?
The more items you require someone to remember, the more difficult it becomes.
Every word and symbol in a domain name is a separate entity, which is important to keep in mind as you evaluate different choices.
www.luciddreaming.com, for instance, is easier to remember than www.world-of-lucid-dreaming.com (note that hyphen use is especially confusing).
Make your domain as brief as possible, avoid symbols, and use a well-known extension.
2. On mobile devices, your domain name should be simple to type.
Are you aware of what occurred on June 29th, 2007?
I’ll offer you some pointers: Apple. Steve Jobs is a well-known figure in the business world iPhone. Yes, you guessed it: Steve Jobs unveiled the original iPhone on that day, permanently changing the world.
We are all suffering from smartphone addiction now, a little more than a decade later, and dumbphones are making a comeback. But how does this relate to domain names?
Well, mobile traffic accounted for 48.71 percent of global internet traffic in the first quarter of 2019, and it’s reasonable to assume that this percentage will continue to rise.
This implies that your domain name should be simple to enter on a mobile phone.
3. Your domain name should be search engine optimized.
In terms of search rankings, a keyword in the domain name will not provide you a significant edge over your competition.
However, it can provide you a tiny advantage, which is nothing to scoff at considering how fierce the competition on Google’s first page is.
However, it is not required, so if you can’t think of a method to include a keyword in your domain name, don’t force it.
4. Your domain name should have a recognizable brand.
It is necessary for your domain name to be brandable.
Your domain name should seem like a legitimate business in your sector and have a trendy feel when people hear it.
So, if you wanted to create a remote job board, you could call it www.remotejobsboard.com… Isn’t remoteok.io, on the other hand, a much superior option?
Of course, you must consider industry norms; dull names are appropriate for organizations that need to seem official.
If you manage a funeral home, for example, being serious is essential; no one wants to conduct awake in a “hip” funeral facility.
However, you don’t have to be formal, so be inventive!
5. Your domain name should not violate any laws.
Once upon a time, the Internet was like the Wild West.
Those days are no longer with us. It’s now teeming with multibillion-dollar businesses that will litigate you into bankruptcy. if you simply look at them the wrong way. That is why it is critical to exercise caution.
Consider the following scenario. You’ve come up with a fantastic moniker. You make a note of it. You go live with your website. Then, just as your company is getting off the ground, you get a cease and desist notice.
On the website of the United States Patent and Trademark Office, for example, you may look up trademarks in the United States.
Alternatively, you may use the local equivalent of the USPTO to search for trademarks in each nation you desire to operate in.
And, of course, Google can assist you, since if nothing shows up, you probably do not need to be concerned.
Unfortunately, if you come up with a creative name, chances are you aren’t the first person to think of it, which means you may have to go back to the drawing board.
However, remember that going back to square one is preferable than being sued, so don’t scrimp here.
6. Select the Correct TLD for Your Domain
Your TLD has an impact on your trustworthiness, so select cautiously.
Take a look at this graph on the subject:
TLDs are evaluated according to their trustworthiness, memorability, and frequency of usage.
If you’re catering to a worldwide audience, these are the expansions to think about.
Of course,.com domain names are considerably more expensive than the others, so if you don’t have the funds, you may have to compromise.
The best place to get a domain name
There are many domain name registrars to choose from, but only a few are worthwhile:
Domain.com – has a large selection of TLDs and ccTLDs.
HostGator – is a domain registrar as well as a hosting business that allows you to acquire both services as a package.
GoDaddy Is one of the most well-known domain registrars and hosting providers in the world (killing two birds with one stone!).
You may also, obtain a domain name with the aid of a website builder. Website builders are tools that allow novices to create professional websites without having to know any coding. The domain registration procedure is linked as part of the sign up process with a website builder, making it a great alternative for novices!
The short answer to the question “how much is a domain name?” is that it depends on your requirements. Although rates will rise after the first year, registering a new domain should not be too expensive. But, if you require an aftermarket domain, be prepared to pay far more. In any event, privacy protection, domain transfer, and auto-renewal should not add much to the cost of your domain name, if anything at all.
A fresh new domain name will typically cost between $10 and $20 per year, with pricing fluctuating depending on introductory and renewal prices.
So, before choosing a web hosting provider to acquire domain names, compare different support services and rates.
Read also- How to register a domain name