Common domain name myths and misconceptions are understandably widespread across the internet.
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Domain investors most likely perceive that they understand a great deal about the domaining industry.
Although this may be true, it never hurts to gain more knowledge and separate truth from fiction. It is my goal to debunk a few of these myths and misconceptions.
There are plenty of domain name vets that offer their advice and opinions. I’m just here to chime in with my two cents.
Domain name investing is a well-known option for individuals who want to establish their presence and make money on the internet.
Therefore, the domain name industry has a strong buyers market, and the possibilities for a proper domain are plentiful and obtainable.
In like manner, you can compare the domaining industry to the real estate industry. For example, the property value in the real estate market rises and falls due to supply and demand.
By the same token, domain names undergo a supply and demand phase for specific niche names.
Thus, the prices of the names will rise or fall if they are in an auction or individuals are shopping at different competing registrars to purchase a name.
In this post, it is my goal to inform people on little-known aspects of the domaining industry and unmask some the universal myths and misconceptions about the domaining industry.
Tackling Some Domain Name Myths
According to an article from Verisign domain industry brief -
The first quarter of 2020 closed with 366.8 million domain name registrations across all top-level domains (TLDs), an increase of 4.5 million domain name registrations, or 1.2 percent, compared to the fourth quarter of 2019.
Domain name registrations have grown by 14.9 million, or 4.2 percent, year over year.
Even with this report you still can find and use keywords to develop good quality two and three acceptable domain names.
Furthermore, a lot of those domains that are registered are bound to expire and become available to the public to register.
There are tons of tools in our industry for researching and sifting through expired domain names that will help to debunk this domain name myth that all good names are unattainable is false.
The buzz around the advertising and marketing gurus is that with social media and networking platforms will induce companies to stop creating websites and jump on the bandwagon of social networking as opposed to investing the time and energy to build a website.
Now, this might reign true for a few companies that can afford to do away with a website, but the rewards of a site definitely have more benefits than a social media profile.
Source: Conversion Strategies
If anything is to hold is that social media helps to lead visitors to businesses websites which equal more revenue for that company. The social media platform is a way to emphasize a companies website.
Dot com domain names are a sticky situation because I’ve seen some instances where .com is ranked lower than other extensions of the same domain topic.
With that said, I think that ranking factor is beginning to rank less and less. It all depends on the content and SEO of the page and the efforts of the webmaster.
All of the extensions are beginning to have an equal opportunity to rank high for extremely coveted keywords.
As Matt Cutts, former head of the web spam team at Google once explained, they will persist in returning the most pertinent results contrary to the domain extension and name.
You can find a large aftermarket of great domains to buy. You have an option of contacting independent domain brokers to seek out good domains, or you can use a backorder service provider to help obtain expiring domains.
Evaluating domains will take some effort on your part. The reason being is that every domain name is unique to some degree.
The only way to accurately estimate the worth of the domain name is to use a comparable scale, keyword statistic, market size, and possible end-users which is not a simple assignment.
A good portion of individuals don’t have the skill and the essential tips of the domaining industry to price their domain names for sale correctly.
A good chunk of domains do not have any value, because there are greater choices that may be readily available.
If you’ve found a diamond in that pile and you know how to market the name to an end-user and command that thousand dollar price, then kudos to you.
Ok, there are many places to list the domain names that you want to sell on major domaining auction marketplaces.
The trick is is that you have to be proactive with your listings. You have to write great descriptions, and all the stats have to be in place, etc.
Yes, you will have to successfully market, research, network, have excellent people skills, negotiation skills, and other attributes to sell those names.
If you can process the skills, then you can enhance your probability of selling and bringing in more income.
Build rapport. Although it’s not always feasible to engage in small talk at the start of a negotiation (particularly if you’re on a tight deadline), doing so can bring real benefits, research shows.
You and your counterpart may be more collaborative and likely to reach an agreement if you spend even just a few minutes trying to get to know each other.
If you’re negotiating over email, even a brief introductory phone call may make a difference. This is one of the most valuable negotiation skills to master.
Program on Negotiation Harvard Law School
GoDaddy being the best registrar is one of these domain name myths that need addressing.
The thing with GoDaddy is that they are one of the largest and often the most inexpensive domain registrars around town.
GoDaddy has an enormous advertising campaign and has broadened there product offerings which have made them the most prominent domain registrar.
Other domain name registrars have many comparable prices and extended components such as support, security, and exceptional customer service.
A few that I can think of at the moment are Enom, NameCheap, and Moniker.
The simplest thing that you’ll do is to select a domain registrar. But, before you register your domain name, it is imperative to completely understand all terms and conditions that the registrar has set in place.
Domain name renewals and domain registrations are problematic if you don’t evaluate your registrar and completely understand their terms and conditions related to registering or renewing your domain names.
The general rule of thumb is that domain renewal notification should happen at least 90 days before the expiration date.
Yes, there are vindictive web developers who complain that they can’t find the perfect domain name for their undertaking and pollute this negative view online and so those negative comments spill over to others trying register a domain name.
Other scenarios for bad stigmas for the domaining community are those who register domains based on company trademarks or close typos.
An astounding body of domain investors understands that they run the risk of possessing domain names that contain company trademarks.
Domains have been openly available to register for a long time, and many intelligent domain investors had the hunch to invest in domain names way back then.
Anyone may buy and sell as much of these domains that they can find as investors do in the real estate market.
With this domaining myth, there is a blemish in place on .com domains due to sellers that are not educated about the market and profoundly increasing the valuations of their domain names without truly researching the worth of their names.
You have to develop patience with the domaining industry. You should seek out the best buying and selling domain marketplaces or private portfolio sites to find sensible sellers presenting great valuable domains for sale.
One more option is to get in touch with a seller directly. If you can find their contact information, then it is an excellent opportunity for you to arrange an agreeable price for the name.
Ultimately It’s up to You to Continue to Bust These Domain Myths
I only listed a few domain name myths that have been of great interest to me over the past couple of years.
The domaining industry has a ton of work to undergo as far as teaching the public even more so with all of the SEO and Google Algorithm updates.
The internet has created new paths for businesses across the globe. Small to medium size business industries are highly gaining from the different business paths the internet has provided.
An online presence has transformed the full mindset of forward-thinking entrepreneurs.
You can think of this internet presence as a way of establishing a virtual company along with the actual business for bringing in more clients.
I could dig deeper and list out a few more myths, but for now, these myths listed throughout this post stand out and were of greater importance to debunk.
