Is Buying a Domain Name Worthwhile?
November 11, 2021
People who have never started their own business from the ground up may not know how many expenses this process can require. Even launching a small company necessitates making certain key investments to get it up and running — and positioned in front of the right audience.
So many business transactions take place online these days, oftentimes even for brick-and-mortar stores utilizing an omnichannel selling strategy. This means your small business will need to consider not only its footprint in the physical world but also in the digital one.
Your company website can and should act as a gateway to everything a customer would need to get a feel for your brand, make a purchase and contact your organization. This is why it pays to consider exactly what people will have to type into the search bar or click on to visit your site.
In the interest of minimizing start-up costs, you might wonder: Is buying a domain name really worthwhile for a fledgling business? The answer is a resounding yes. It’s not only worthwhile; it’s non-negotiable nowadays.
Also Read: The Dos and Dont’s of Web Design in 2021
Here’s more on why domain names are key and how to choose a good one.
Why Domain Names are Important for Small Biz
As a business owner, you want to justify every expense and understand its potential return on investment (ROI) before making the purchase. Domain names are an important investment for many reasons, such as:
To Lend Credibility
Your domain name is often the first attribute of your online presence customers will notice. A strong domain name makes your website look legitimate; an odd or confusing domain name takes away from your company’s legitimacy.
One example is springing for more credible domain extensions like “.com” or .co” versus opting for a cheaper “.biz” extension. As one expert writes for Forbes, many people associate alternative domain extensions with non-secure — or even fraudulent — websites. Although you might save a few bucks on the front end by springing for a less costly extension, it could hurt your company in the form of lost visitor trust.
One former freelancer and marketing expert writes for The Muse how securing the domain name of her first and last name improved her credibility in the eyes of clients, coworkers, and hiring managers.
To Improve Search Engine Results
Another advantage of buying a domain name reflective of your company name/brand is that it will help increase the chances your website shows up when someone types it into a search engine. Companies spend big money on optimizing their search engine results; getting a strong domain name is a relatively impactful yet affordable way to help your company’s visibility in this arena.
To Avoid Confusion Online
Let’s say a customer is trying to find a photography studio in California. So, they Google the name of the business — only to find, after they’ve clicked to visit the top result, that the domain name they assumed would belong to this photography studio has already been taken by a company in Maine.
Confusing experiences like this can frustrate customers, or even deter them from trying to find your website again. This illustrates why it’s worthwhile to jump on a domain aligning with your company’s name and brand as soon as possible.
What Makes a Good Domain Name?
You want your domain name to be as concise and clear as possible — which is why experts tend to recommend avoiding hyphens, numbers, or unusual spelling. A long, complicated or otherwise hard-to-remember domain name will just add another barrier between people trying to find your website and them being able to. Seeing as you want to make visitors’ journeys as seamless and expedient as possible, a more straightforward domain name will always win out.
As we mentioned earlier, the strongest domains feature even your company’s entire name or at least keywords related to the products/services you offer.
Buying a domain is worthwhile as it’s a major factor in building credibility, driving search-engine traffic to your website, and staking out a space for your brand online.