The value, price, or value of a domain name can range from a couple of dollars to millions of dollars. The real challenge is how to assess the true price of a specific domain name or how to calculate the value of the website. There is unexpected and sudden news all the time about some companies that are paying thousands of dollars for a domain name that is highly relevant to their business and company name. The considerable deficiency in the argument of people who do not believe that domains play a significant role in the success of websites lies in the assumption that Internet users will bookmark or subscribe to a given website immediately after visiting it.
There are a couple of important things and true techniques to evaluating a domain name that you should keep in mind when trying to evaluate and they include:
- The length of the domain, the shorter the domain, the more it will cost. Because when the domain name is short, it is easy to spell, remember and descriptive or brand. Your domain must not contain hyphens or numbers and, to me, it must have the extension .com.
- One-, two-, or three-word domain names are much more valuable than the others (nowadays, it is impossible to find a three-word domain name with the .com or.net extension). Therefore, domains with very few words are the ones they value the most.
- Websites that have been around for a long time in search engines rank higher, so this increases their value. However, most of the sites that have been around for a long time are not for sale, so convincing the owner may require even more money.
- If we collect information from the beginning (on August 6, 1991, the first website went online), the most common is that the oldest and most popular domain name is 7 or 8 characters and 2 words. Now approx. 85% domain names with a .com extension. Percentage remaining that has .net, .org, .biz, and a specific extension related to country names. Three to seven percent contain numbers or hyphens with their domain names. So for the extension me.com it is worth more than others.
- If domain names that are difficult to type, have non-alphabetic characters, are extremely long, or difficult to type, they will not be worth more compared to easy-to-type and easy-to-type domain names. Also, if you have already purchased a domain name with the extension or top-level domain (TLD) like.com, .net, .org, etc. it cannot be changed once you own the domain.
What can we do to improve the value of the domain?
Domain names were discovered to make it easier for people to access websites, so it is important that your domain is easily understood.
- Does the domain sound good?
- Will people know how to spell it after hearing it?
- Is it easy to remember?
Any confusion your domain causes will have a negative impact on how much others are willing to shell out.
Now, the most important thing is that what we can do to improve the value of the domain is the same as you to improve the value of your website right now before you sell the domain. It is mandatory, get more customers to visit your website. The more popular your site is, the more valuable the domain will be.
Definitely, if the users or customers are eligible to find the website in search (Google, Bing and Yahoo), there will be more visitors, so improve the SEO of the website. For search engine optimization (SEO), you can find different solutions like, on and off page, SEO. Increase content too, the more content you have on your website, the more pages people can visit. Today, social media is one of the most powerful sources to drive more traffic to your website. Write more and more blogs or articles, for this purpose find the guest blogging websites and spread your thoughts or products all over the world, but one thing you should keep in mind is that it is important that your words are easily understandable.
If you are looking for a fixed formula to calculate exactly the value of your domain, unfortunately, you are out of luck. Appraisal services can generate a number based on a complex set of criteria, but domain names are much more than search algorithms and rankings. A domain exists in the broader context of the online and offline worlds, and all its complexities and refinements will influence the interest in your domain.
Wondering how to value domain names?
There are a couple of rules about what makes a domain more valuable. Most people looking to buy a domain want to buy one that is already successful and most people on the web define success in page views and customers.
To calculate the value of your domain, eventually you will need to understand who your potential customers are;
- What industry do they belong to?
- Is the website important to your business?
- How applicable is your domain?
A domain is only as valuable as someone is willing to pay for it, so knowing the price of related domains, how searched your domain is, and how much you reasonably expect a buyer to pay will help you get to the right number.