When it comes to the Internet, a domain name is one of the most valuable things available. After all, the name is viewed as cyber real estate, and the right name can help drive a lot of traffic to a website. Consider, for example, how much more likely you are to visit a site that has an easy to remember URL. If you keep that in mind, you will have a better understanding of the importance of the name that you choose.

Domain Name ExtensionsSelecting a Quality Name

The best way to select a domain name is to make sure that it is applicable to your business. After all, if potential visitors cannot easily remember your name or determine what its purpose is, they will not be very likely to type your URL into their browser’s address bar. However, it is also important to make sure that you do not pick a name that is extremely similar to a competitor’s domain name. Having similar names will create confusion, and it is going to cause issues for everyone involved. These names can be bought and sold through a Domain Broker.

How Valuable are Domain Names?

If you happen to have a domain name registered that several other companies would be interested in, you can sell it for a lot of money. For example, the individual who registered the name Diamond.com was able to sell it for $7.5 million. Although most domain names are never going to become this valuable, it is important to consider the fact that they should be a major part of your name branding efforts. Therefore, if someone has registered your company’s name, you might want to consider purchasing it from them for a reasonable amount.

Domain NamesDo I Need to Register the Name First?

As soon as you are certain what your company’s name is going to be, it is a good idea to register your domain name. After all, even if you are not planning to launch your company for the next six months, it is still important to make sure that you are the person who controls the name. Otherwise, you might end up paying more for it later on.

Your domain name is going to ultimately become as important and valuable as your company’s name, so make sure that you carefully consider your options before you register it. Once your name is in place, it is vital that you take every possible opportunity to advertise your new URL.

Blogger Anthony Joseph regularly writes about subjects important to those who are starting small businesses. Selecting your business name on the Internet is one of the best decisions you make, therefore contacting a Domain Broker like Toby Clements will only increase your chances of success.

Photo Credit: http://www.flickr.com/photos/bloggingbookshelf/5910411419/, http://www.flickr.com/photos/28288673@N07/4848301878/