Domain names

Domain names

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 Before we get into the significance of domain names, let’s have some fun and take a look at the 10 highest prices paid for domain names:

Prices for Domain Names

Does anything stand out to you? The latest year on the list — 2010. Is it any coincidence that this was right before Google introduced Panda and Penguin?

The algorithm was built by Google's developers to look for websites that were unnaturally inflating their views in order to rank well. They would essentially receive a punishment by being placed at the bottom of the search results. Penguin was the next algorithm that Google released. It was introduced in 2012 to remove the dishonest websites that evaded Panda's detection.

Most of us in the field of website development, buying, selling, and flipping were experiencing a little of this after both changes.:

Penguin Fail

We came to the conclusion that this wasn't necessarily a bad thing after getting over the frigid chill of the dropping search results. Google aims to deliver the best possible search results to its users. When separating a good site from a bad one, Google takes into account a number of different factors. Only one of the puzzle's pieces is the ideal domain name.

Exact-Match Domain Algorithm

In September 2012, Google introduced the exact-match domain algorithm to filter out junk websites from search results. The term "exact-match domain" refers to a word or phrase that precisely matches the search terms. "Green juice" and the exact-match domain (EMD) of greenjuice.com serve as an illustration.

Prior to Google's 2011 and 2012 adjustments, having an EMD gave you a significant ranking advantage even if 80 percent of your website consisted of affiliate links and tiresome, unoriginal content. Unfortunately, in addition to removing the garbage, the algorithm also removed respectable websites with hundreds of pages of excellent content that just so happened to have an EMD domain name.

Overnight, the price of EMD domain names plummeted. Being in the sought-after #1–10 Google rankings, which was formerly your shortcut to the head of the line, was now more likely to place you somewhere between #2–35. #100–200 if you weren't so lucky.

5 ‘Ks’ to Domain Name Perfection

To come up with a domain name that will serve to identify and build your brand or business, you'll need to engage in some brainstorming unless you already have an established brand name (one that is available with a.com extension). When trying to think of a domain name that will accurately reflect your brand and last the test of time, there are a few things to bear in mind. Here are five general guidelines to guide you through the domain name creation process:

  • Keep It Short— Some of the most valuable website names are words that are under 4-letters long. As of 2013, according to WhoAPI, you can no longer create a 4-letter domain name. All possible 4-letter combinations (of which there are 456,976) have been used. If you are determined to use a specific 4-letter domain, and it doesn’t appear to be for sale, contact the registered domain owner of the domain you’re interested in. You can check ICANN’s WHOIS here.
  • Keep It Relevant— You wouldn’t own an ice cream parlor but call yourself something that alludes to being a massage parlor or car dealership, so why would you do it to your website?
  • Keep It Memorable—Create a Facebook poll on your personal Facebook profile or sign up for an online forum or local library "think tank" for creatives, where individuals can share all kinds of creative ideas. Consider websites like picmonkey.com or Etsy.com. Etsy is just a fun word to pronounce. Its whimsical nature makes it ideal for a website selling handmade items. A fantastic image of a monkey holding a camera is produced by PicMonkey. Once more, this is a perfect fit for a service that provides simple photo editing that even a chimpanzee can perform.
  • Keep It Spelled Like It Sounds (Phonetically)— You definitely don't want someone having difficulties locating your website because they can't spell the word. No matter how cool you think the domain name "freshphish.com" seems, you wouldn't want to hold it if you owned a fish shop. Consider a 301 redirect with the phonetic spelling if you are working with a company, sector, or brand name that is difficult to spell but is your proper name. Since the Content Editor at Empire Flippers has a distinctive first name, she has a 301 redirect set up for the most typical misspelling (alyssadoucette.com), even if her primary domain name is spelled correctly (elisadoucette.com).
  • Keep It Legal— Watch out for trademark and brand infringement. You can actually run a trademark and patent search online, here’s how you do it in the US. This will obviously vary depending on the country you are doing business in.

The Different Types of Domains

Partial Keyword Domains

Nowadays, it's vital to have something more in place of an EMD name to avoid falling into Google's ever-widening net. Consider your choices carefully and take your time when choosing words to include in your EMD. You should strive to become one of Google's reputable page one sites and establish yourself as an authority person in your field or line of work.

Here are some examples of EMDs changed to partial keyword, Google-friendly domains:

  • exoticmotorcycles.com to exoticmotorcyclesinc.com
  • hairproducts.com to hairproductsusa.com
  • orientalspices.com to orientalspicecentral.com

Not only are these changes Google-friendly, they also allow you to potentially scoop up both the .com and .org domain names.

The All-Important Domain Extension

You've come up with a fantastic domain name. The only issue is that the ".com" is already taken. What if ".biz" or ".net" are offered? Try to avoid using additional domain extensions if you can.

Unfortunately, going back to the drawing board and coming up with a different name is your best option. Using the words "biz" or "net" will immediately alert your viewers to potential scams!

You may compare it to purchasing an apartment in the Bronx or a condo on Madison Avenue in New York City. Which address looks nicer on paper? Certainly Madison Avenue, which is associated with wealth and the spirit of entrepreneurship.

Eventually, more domain extensions will become mainstream and universally recognized as being of the highest quality, but for now, people remain a bit standoffish towards these non-top-level domain extensions (e.g. ‘.me’ or ‘.good’).

Brand Names

The best course of action isn't usually to avoid less trustworthy extensions like ".ly" and ".net," however you should aim to get a ".com" correct initially.

If you're an established brand or business and you can't currently afford the '.com' price tag, you should buy the less expensive extension with the intention of switching to the '.com' extension once your company takes off and your finances allow you to do so.

Companies like Bitly started off this way. Bitly’s original domain name was ‘bit.ly’. When business took off, they were able to purchase bitly.com.

Domainers Hall of Shame

A domainer is someone who buys hundreds or perhaps thousands of domain names with the aim of becoming wealthy. They'll either wait until the proper moment to cash them in, or they'll buy a popular brand name site in the hopes of receiving a sizable monetary payout.

J. Taikwok Yung, a domainer, bought the domains trumpmumbai.com, trumpindia.com, trumpbeijing.com, and trumpbudhabi.com. He had great expectations of getting a financial windfall.

He ended up being on the receiving end of a phone call from Trump’s legal team demanding he hand over the sites. They even offered him $100 per domain to peacefully hand them over. Yung stuck up his middle finger. Bad move. Trump sued him for $400,000. Yung had to pony up $32,000 as well as hand over the domain names.

Lesson here? Avoid the Domainers Hall of Shame and play by the rules.

Getting Down To The Brass Tacks

The financial standing of a website determines how much value Empire Flippers gives it. When it comes to EMDs, short words or sentences containing ".com" or "org" are taken into account. However, generally speaking, we are interested in the profit X multiplier. We are interested in what your website offers.

Primary metrics we take into account when determining the value of a website include:

  • When did the website launch?
  • How varied is the source of income?
  • How many people visit the website each unique time, and how many email subscribers are there?
  • How much time and work is put into keeping the website up?
  • What are the operational costs per month?
  • How effective is its SEO/backlinking strategy?

The domain name is the foundation for getting you established and recognized, despite the fact that our primary analytics don't take it into account. A good domain name will aid in bringing in distinctive visitors to your website. Once there, if they believe you can add value to their lives, you'll gain their email addresses, which over time and with constant work will result in higher revenue.

We must be certain that a site will generate residual income in the long run before assigning it a value. We take great satisfaction in only providing reputable, high-quality sites, and we ensure this by being picky about what we post on our marketplace. Although we don't have a crystal ball to see what other modifications Google has in store, we do know that delivering valuable content will always come first in any changes Google makes.

Is the significance of domain names the same as it was ten years ago? If not, why not? Please share your thoughts in the section below.

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