If you register a new domain name that hasn’t already been taken, it doesn’t cost a lot of money. There are, however, companies and individuals who pay millions of dollars to get the domain name they really want.
Domain names that were initially considered completely meaningless can be worth huge sums today. At the same time, the value of a domain name could drop drastically if the content presented under it disappears or becomes obsolete. The value of a domain name thus varies, and several factors affect its valuation.
To put it short, if you want to make your domain name attractive to buyers, you should use every single strategy available to make it more attractive. Below are some of them.
An “Attractive” Domain Name
The most important thing when it comes to gaining growth by your domain name is to make it attractive on the outside.
When we talk about external attraction, we mean that the name should sound good and look good. It should be as short as possible, easy to read, and not contain any complicated spellings or strange characters. Coming up with a good domain name can be tough, so you might want to speak with a branding consultant at Domainify.com to find something that works for you.
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A Successful Website Behind It
Attractiveness is important, but many times the success behind the name means more than the external look. A domain that has been registered for a long time also has a higher value from an SEO point of view than a domain registered yesterday. In general, one can say that the older the domain, the better!
At the same time, domain names that are niche already also have a higher value. In part, the name is easier to remember, but even in search engines, you can take advantage of having a niche domain name.
Social Media Accounts Linked to It
Today, social media is a necessity for business growth. Via social media, companies are allowed to communicate with their customers in a variety of ways, and the target audience on social media is much larger. As a natural result of this, social media is also important for the value of your domain name.
With that said, you should have active social media accounts linked to your domain name. This increases the business’s online presence since it is easier to find. This also means that the more social media accounts you have linked to your domain, the higher the value of your domain will be.
Remove Competition with Similar Domain
Something that scares many businesses is that a brand like theirs will suddenly establish. It may be a company that sells similar products or services, and if they simultaneously resemble the domain, customers will probably struggle to find the right one.
A smart tip to increase the value of one’s own domain and at the same time remove competition is to buy or create domains with similar names as one’s original. Similar to what Brian Sharpies, CEO of HomeAway did in 2009 when he purchased the domain VacationRentals.com before the rival company Expedia did.