September 23, 2020

How To Safely Purchase Premium Domain Names

written by

Joe Uddeme

Joe Uddeme

How To Safely Purchase Premium Domain Names

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Almost every good domain name you can think of has already been registered – meaning you’ll need to buy it from someone if you want it. NameExperts.com Principal Joe Uddeme explains how to do it the right way.

 

We are living in a time when there are more active domain names than there were people alive in the 1920s. There are over 1.8 billion websites, and this doesn’t even include the ones that aren’t active.

This doesn’t leave a lot of room for you to find an original domain name that will instantly connect with your market.

If you want your business to succeed in the online world, you will likely need to buy a premium domain name that is already owned by someone else. Keep reading to learn everything there is to know about premium domains and how you can successfully purchase them – with or without the help of a top domain broker.

Key Takeaways

  • Understand premium domains and what they can do for your business
  • Top tips for purchasing a high-value domain name
  • How a domain broker can simplify and streamline the whole process

 

What Are Premium Domain Names and Why Do You Need One?

You want your business to be successful right off the bat, and premium domain names might be the best first step. Here, we discuss what premium domain names even are and share a few tips to help you purchase them.

Elements of a premium domain name

Premium domain names are short, easy, and highly marketable names that are usually already bought by someone and are available for sale for a “premium” value. They are priced higher than normal domains due to a few factors:

  • They have high marketability thanks to their unique and trendy names that are instantly recognizable by the target audience.
  • Premium domain names tend to be shorter in length and are easier to remember. (Example: Facebook bought “fb.com” as it was used almost as much as “facebook.com”). While not on our list of most expensive domain names ever sold, it certainly commanded a high price.
  • They have optimized keywords that are hard to find in new domain names.
  • They usually end in the popular “.com” extension.

There are a few other things to consider and a few criteria that are used to qualify your domain name as premium. The first is if they are generic or single word domain and whether they have a .com or another globally driven brand.

They should also be pronounceable and meaningful and should have a desired commercial appeal. Similarly, does the name you want to have a clear path to developmental success or is it random and highly specific?

A premium domain might also already have a rich-SEO history and what we call a “white-hat” SEO past. Your domain should be catchy, brandable, and most importantly – scalable.

Basically, you’re looking for a timeless domain that won’t go out of style or be easily forgotten. A domain name consultant can advise here, and can prove invaluable when investigating your intended domain name’s past.

When you’re looking to add a domain name to your business, it’s important to focus on some of these pointers above if you want to add value and long-term equity to your overall brand. If you plan on selling your business someday, you want to choose a name that can be resold; try and give yourself a little digital curb appeal for if the business doesn’t pan out down the road.

Large 'Sale' sign in shop window

 

Why Premium Domain Names Are Necessary For Your Business

While they’re more expensive, premium domain names offer a range of benefits that often match that price and provide a pay-off in the long term.

The first benefit you can take advantage of is a higher reach and resonance with your audience. A memorable domain name will stick in consumers’ minds and create a more credible image around your brand. If they remember your domain name, they’re more likely to search directly for it. Check out our guide to choosing a strong brand name for your business.

Premium domains will typically contain relevant keywords that are used frequently by consumers of your chosen business segment. This provides a potential pool of traffic already searching for your domain – readily available for you to access.

Premium domain names are not essential when you’re first starting out and do not have a lot of capital. They are often expensive and might be a risky investment at the beginning. Once your business starts growing, a premium domain name will help take your online presence to the next level and open you to a world of new opportunities. The Name Experts team regularly helps provide detailed strategies about great business names to help your startup off the ground.

Office scene with man and woman conversing indicating a startup business

Our Tips For Purchasing Premium Domain Names

Buying domain names can be stressful if you do not have much experience with the process. Here are a few tips you can follow to successfully purchase a premium domain.

  • Hire a Domain Buyer Broker with a successful track record. They will help you perform a WHOIS search easily and aid you through the process of your purchase.
  • Make sure you get your broker to sign an NDA to protect your information.
  • Contact the owner professionally.
  • Keep a list of alternatives.
  • Be honest and flexible in your negotiations. No one wants to deal with dishonest or overly-rigid buyers.
  • Ask your broker any question that comes to your mind.

Why Choose a Domain Broker for your Premium Domain Name Purchase

Though this is a quick and general list, we highly suggest reaching out to an experienced broker to help you with the process.

A well-established firm like Name Experts offers a full-service domain name brokerage experience for clients. With over 16 years of industry experience and a proven track record (including helping Monday.com to rebrand), we can help you buy a premium domain name your business needs to boost its online presence.

We’re highly skilled at tracking down and reaching out to owners of off-market domain names, as well as negotiating the best price for our clients. Buying high-value domain names is a process, and our services ensure that you’ll get the best deal with the least fuss.

 

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 him at: [email protected]

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Ask the broker for information about their service and a few names they recently acquired for clients. Find out how your broker can add value to your potential acquisition; always do a Google search to learn more about the broker you are working with. Take the time to find an expert that can properly assist you with all of your acquisition needs. Ask lots of questions and make sure you feel aligned with the broker. Hold the broker accountable and require status updates so you aren’t left in the dark as they progress. In most instances, your stealth acquisition needs to be completed right the first time. Most domain name acquisitions only have one chance to secure the domain name target without leaving extra money on the table. Stealth acquisitions should only be performed by a seasoned domain name buy-side broker, so choose your broker carefully. You should understand if the broker has certain strengths or weaknesses. Some buy-side brokers don’t have the tools or knowledge to find the rightful domain owner. Or they lack rich relationships with industry veterans. Other buy-side brokers are excellent at managing the acquisition but terrible at the details. Details are key when it comes to any domain name acquisition. Contracts and paperwork can take months to pass through the legal channels, so it’s important to find a representative that is fully vested and can assist you with all aspects of the buy-side domain name acquisition process. Finally, when selecting a buy-side broker, make sure you ask for referrals so you get a feel for how they work. Once you have faith in your broker you can instruct them to make contact with the rightful domain owner and secure the perfect domain name for your brand.   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. Stealth acquisitions are his specialty. Contact us at: [email protected]

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