December 1, 2019

Startup Domain Names: Buying the Right Domain Name

written by

Joe Uddeme

Joe Uddeme

Startup Domain Names: Buying the Right Domain Name

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Choosing a brand name for your startup? Need a great domain name to match? NameExperts.com Director Joe Uddeme shares his top tips.

 

Having the right domain name for your startup sounds like common sense. However, it can be a challenging endeavor. Your organization’s name might not translate into a good domain name. Or maybe everything suitable appears to have been taken.

Regardless of the challenges, it is absolutely essential that you have a fantastic domain name so customers can find you. It can also help increase brand awareness and the long-term success of your business.

So how can you actually buy a good domain for your startup? Let’s investigate.

Key Takeaways

  • The power of brainstorming
  • The golden rules of a great startup domain name
  • Do your research
  • Consider alternate endings (TLDs)

 

Brainstorm Your Startup Domain Name

When acquiring a domain, you need to start by doing some brainstorming. Consider:

  • What’s the name of your business?
  • What services or products are you selling?
  • What industry are you involved in?

Develop five terms or phrases which can best answer those questions and can describe the domain name that you’d wish to acquire.

For instance, if you wanted a domain name that involved “advertising,” you could use related terms like “online marketing,” “digital marketing,” “advertising,” or “sales marketing” as a starting point.

While this may sound obvious, you also need to remember that your domain name ought to be related to your organization.

For example, if your company name is Joe’s Electronics then you would want a domain name to reflect that name.

If the website was called joesawesomewebsite.com, clients would not know that it was really an electronics site, which means you’re losing out on business because customers can’t find you.

Man with back to camera stared at blue board full of yellow brainstorming notes

 

Keep Your Domain Name Brief, Unique and Easy to Remember

While brainstorming domains, you also wish to bear in mind that the shorter the better. Shorter domain names aren’t just easy to type, but also easier to remember. If you heard the domain from a friend or on the radio, would you be able to spell it correctly?

Try and settle on a domain that’s unique. The last thing that you need is for your domain to get confused with another site. This will also ensure you won’t encounter any ownership issues.

 

Research your Startup Domain Name

Now that you’ve found a domain that fits your brand, you need to be 100 percent sure it is available. One option would be to explore checkdomain.com, Domjax or copyright.gov.

The best-known names are usually .com domain names – these are widely accepted. It also means that they are likely to have a premium cost to them if you are looking to purchase them. Check the whois information on the domain you are trying to buy, or reach out to a seasoned domain name broker who will have years of experience in sourcing owners and negotiating deals.

 

Add Modest Words Before or After Your Domain

While you should keep away from pluralizing or hyphenating words, as that will create confusion (“best” or “top” are also a little overused, too), there could be some minor alterations to make your domain stand out.

Let’s say you have a car rental business located in Phoenix. You could search for a domain name that was on the line of phoenixrentals.com.

 

Use Other Domain Extensions/Endings

Ideally, you would like to secure a .com domain. It’s the best option for branding and type-in-traffic, which is essential for any site. However, there are other endings or extensions (TLDs) that could benefit your brand as well. Take the .info extension for example. It could be an alternative if you are running an informational site.

Another choice is to localize your own domain. If your site is based out of the United Kingdom, you would want to utilize the .uk or co.uk extension. Not only does this open the door to additional possibilities, it differentiates you from an international website.

A website like name.com is an excellent resource for searching for domains and extensions.

Screengrab of name.com domain name website

 

View Auctions for Domain Names

You can also hit auctions to purchase a domain name which was/is previously owned. There are numerous sites that have been acquired by investors as a means to monetize a site. They will purchase a domain and fill the website with lists and links to other sites simply for lead generation.

 

Contact A Domain Broker

There are instances when somebody had a domain and did not do anything with it – or the business didn’t work out and the domain name has expired. In cases like this, the domain name is now available for purchase.

If your preferred domain is not up for auction, you could work with a domain name expert or broker to contact the current owner.

If you decide to go it alone, make sure you gather any information that can assist you in ultimately determining if this is the right asset for your brand.

If the owner is considering selling the domain, you’ll want to do a little investigating to learn how much it’s worth. Our domain broker services can complete a professional domain name appraisal to determine how much traffic is visiting the website.

It may not be the only element in determining the site’s value, but it’s a powerful indicator. Another thing we’ll look at is sale prices of comparable doman names. Some great names, such as Cars.com, have gone for astronomical sums.

Cars.com website homepage, the most expensive domain name ever sold

 

About the author

Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Contact us at: [email protected]

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Mosaic style image of .com on a yellow background to denote the importance of a.com TLD when securing a domain name for your business
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Always be sure to check out a .com’s history before buying, though – there could be some nasty surprises if it has been used before. Professionalism: Many well-established businesses, particularly in competitive industries, prefer .com domains. If a competitor has the .com version of a similar name, they may be seen as more professional or legitimate than a business name using a less common extension. Having a .com gives you an edge in appearing professional and trustworthy. Versatility to Ensure Growth Future-Proof: As your network grows, the .com extension is flexible enough to accommodate expansions into new products, services, or geographic markets. Unlike some niche TLDs, which may be associated with specific industries (like .tech or .store), a .com can grow with your entity and remain relevant in any market. Resale Value: Premium .com domains can become valuable assets if your organization is ever sold or merged. 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There are hundreds of thousands of prime opportunities to invest in the domain space – and as the last 30 years have shown, the .com is the most credible TLD on the market, both domestically and abroad. This holds true if you are buying your domain for your business or to hold and transfer at a later date. Whether this is your first domain or you own many, the .com creates easy accessibility for consumers and brands alike. Brand Protection: Companies work hard to protect their domain brands, accounts and marketing tactics. They invest millions of dollars and countless resources at building that beach-front real estate and maintaining their Internet presence in the world. As leaders in the domain space, the NameExperts.com team continues to recommend the .com as the superior domain with considerable upside and long-term equity potential. Case Study: Tesla.com domain acquisition Here’s a case study of a .com domain acquisition transfer that highlights the importance and benefits of acquiring a premium .com domain for a business. The study involves Tesla’s acquisition of Tesla.com. Background: For many years after its founding, Tesla, the electric vehicle manufacturer, operated under the registered domain TeslaMotors.com. Despite its growing success, the entity didn’t own the highly sought-after Tesla.com domain. TeslaMotors.com was functional, but having Tesla.com would better align with the company’s image as it expanded beyond cars to include energy products like solar panels and batteries. The domain Tesla.com was originally owned by a man named Stuart Grossman, who had registered it long before the organization existed. Grossman wasn’t actively using the domain, but he also wasn’t interested in selling it easily, making the acquisition a challenging and lengthy process. The Acquisition Process: Need for Rebranding: As Tesla grew and became a household name, the organization realized that TeslaMotors.com was limiting its branding. The “Motors” in the domain name suggested a narrow focus on cars, whereas Tesla’s long-term vision encompassed energy solutions, solar products, and batteries. The organization needed a simpler, cleaner domain—Tesla.com—that reflected its image as a leader in the broader tech and energy sectors. Complex Negotiation: Elon Musk, Tesla’s CEO, revealed that acquiring Tesla.com was a difficult process, taking over 10 years of negotiations. The domain owner, Grossman, was reluctant to sell the name for many years, leading Tesla to offer a significant amount to finally secure it. Musk later hinted that they had paid $11 million to acquire the domain, though exact figures weren’t officially disclosed. Hands-on Approach: Tesla’s approach to acquiring the domain involved: Patience: Tesla waited until the domain owner was ready to sell, all while continuing to build their company. Persistence: Tesla remained in contact with the owner over a long period, signaling ongoing interest and ensuring the owner knew they were serious buyers. Strategic Timing: Tesla finally closed the deal when they were ready to reposition their entity from just a car line to a broader energy and technology company. Outcome: In 2016, Tesla successfully acquired and completed the transfer of the Tesla.com domain and immediately rebranded their website and digital assets. This acquisition allowed Tesla to secure its concept and image across all its product lines and simplify its online presence and customer support tools.     About the author Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Joe’s specialty is helping clients secure .com domain names that appear unreachable – and at the right price, too. Contact Joe at: [email protected]

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