Abundant domain names choices VS value

In mathematical terms, the number of available domain names is simply amazing.

Consider the billions of letter, number and hyphen combinations before the dot followed by any of the hundreds of domain suffixes.

You get the picture.

Domain names are all naturally and equally unique. So why do some of them end up abandoned by their previous owners while others spearhead e-marketing initiatives for multibillion transnational corporations? Even more so, why do so many domains now change hands for prices ranging in the 5 to 7 digits?

This is where the concept of domain name value must be carefully evaluated.

It’s not just about the value of the domain name, in and of itself alone, but the value of what it stands for.

Here’s how to do it (rough guide to a better “value” picture):

1. Make a list of what your domain name are related to;
2. Add metrics to those “related themes” by using free or paid tools, like Google’s search hits or Alexa’s ranking;
3. Follow the evolution of those metrics over time.

This way, whichever domain name in your portfolio goes up, the more you tend to keep it.

Most domain name owners do this on their gut feeling for a given name but it can be useful to a have hard look at the metrics, once in a while, since it adds perspective.

Over and above this very “straight line approach” to assessing the value of a given domain name, remember you can always create value from scratch by associating that domain to valuable offerings. The online world has a way of rewarding the “destinations” that offer valuable content, whatever it may be. Perhaps that’s part of “the magic of the internet”!

Buying new domains on the basis of their “natural” appeal remains a good way of choosing them out. Adding metrics is usually quite informative but in the case of bleeding edge technologies, it can be lead to largely irrelevant information because in this case, the best for that “theme” is yet to come. Add common sense to the process and you’re fully covered.

If you can’t figure out a good name in the gTLDs, try the ccTLDs in the countries where you do business. Think of .co.uk, .de, .be and so on. Those names can become popular destinations for local customers.

You can have a look at the availability of your favorite domain names in a wide range of gTLDs and ccTLDs at this full service, low cost domain name registry, if you want.

Remember to pick names that hold value partly on the merit of the themes they refer to and you’ll inevitably add muscle to your domain name portfolio.