It is close to impossible to set up an online business without a domain name. The first step in the process of starting a business online is getting a domain. Even if you are already running a business, you may not be able to get your business online without securing a domain name. So, it is important to secure a domain name as soon as you decide to start an online venture. But you might be wondering, how much does it cost? That is a great question. We cover that, the factors that affect the cost of a domain name and much more below.

What is a Domain Name?

Before you buy a domain name, it is important to know what exactly a domain name is. A domain name is the name your website visitors type in the browser’s address bar to get to your website as it is the address of your business online. Domain names generally start with https or www and end with .com, .org, or .gov.

Every website has a unique IP address and machines recognize websites using it. On the other hand, humans use domain names to recognize websites on the internet.

How Much Does a Website Domain Name Cost?

Domain names generally cost between $2 and $20 per year. The cost depends on the registrar from where you buy the domain. It also depends on the type of domain you choose. There are a lot of domain name registrars from where you can purchase your domain. They offer domains at competitive prices so that you can choose the one that fits your budget.

Domain name registrars are companies that provide domain name registrations – basically they let users purchase and register the purchased domain names with them. If you would like to purchase a domain, you will need to purchase it through one of the domain name registrars. BlueHost, GoDaddy, and Namecheap are examples of domain name registrars.

While you can get domain names for free, there are some domain names that cost as much as millions of dollars. The cost of the domain also depends on the domain name extension, as well. It also depends on the discounts and offers the domain registration providers offer. The following factors affect the cost of a domain name.

  • Domain extension (.net, .shop, .com)
  • The domain registration provider from where you purchase your domain – it could be a private seller or a domain registration provider.
  • The cost will also depend on the number of years you choose
While there are no fixed prices for domain names, not all domain name registrars register domains at the same price. It is wise to go for a new domain for your new business, but if you would like to go for a domain name that someone else has already bought, you can visit GoDaddy’s Domain Broker Service. This way, GoDaddy’s brokers will negotiate and help you get the domain you want.

The following are the top factors that affect the cost of domain names.

Factors That Affect the Cost of Domain Names

Domain Registrar

As mentioned above, domain name registrars are businesses that sell domain names. You can get a domain name from one such business, which will also register the domain name for your business.

The different domain name registrars can set their own pricing for the domain names they sell and register. You always have choices as there are hundreds of domain name registrars. If one seems expensive, you can always go for another domain name registrar.

Make sure the domain name registrar you choose is registered with ICANN (Internet Corporation for Assigned Names and Numbers). Likewise, the domain registrar should be reputable, and the prices should be reasonable.

Some domain name registrars offer services like website hosting, web design, and marketing services. This is a huge plus as you can save on those services as they come along with the domain name.

Top-Level Domain

TLDs (Top-level domains) and ccTLDs (Country code top-level domains) are the domains that are most common. Furthermore, .com and .edu are most common among TLDs. Similarly, ccTLDs are country-specific; .fr represents France, .in for India, .uk for the United Kingdom, and so on.

.com, .gov, .net, .org, etc. are examples of top-level domains. These are nothing but the extensions that come at the end of the domain names. You might have noticed that .com is the most commonly used extension. You might also have come across government websites with the .gov extension and other websites with .net, .co, or .org extensions. Here are some examples of where and how certain top-level domains are used.

  • Non-profit organizations generally use the .org extension.
  • .fr, .eu, .in, .uk, etc. are examples of country top-level domains. These extensions tell us where the domain is based.
  • The websites that end with .gov are websites of government organizations.
  • Educational websites end with .edu.
TLDs that are not very popular, like .mobi, .site, etc., will be cheaper than the most popular ones like .edu, .net, .info, etc.

In the table below, we have listed the current domain name costs and the names of the registrars. Remember, these costs will not remain the same and are likely to change.

Registrar.com.org.us.net
NameCheap$8.88/year$9.18/yearq$3.88/year$10.98/year
GoDaddy$11.99/year$9.99/year$1/year (for the first year)$14.99/year
Domain.com$9.99/year$8.99/year$4.99/year$12.99/year
HostGator$17.99 /year$17.99/year$17.99/year$17.99/year

Keywords

Having a target keyword in your domain name will help you get better search engine rankings and help in SEO. Likewise, your visitors will be able to recognize your website and remember your domain name easily.

If you are looking to get one such domain name with a keyword that is searched by many on Google, you may have to pay more for the domain name. So, if you want pizza.com, good luck as that will be hard to get. However, you might be able to get bestpizzaintown.com for example. A possible less competitive keyword phrase but one that still ranks.

How to Pick a Domain Name?

There are a few things to keep in mind when you choose a domain name. Your domain name will be the first thing your website visitors see and with this name being your website’s key element, you need to choose a domain name that you think will work for your business.

The following are a few reasons why your domain name is important.

  • The domain name that represents your business and brand will be the first thing your visitors see, and it will be your first impression. This name can either make or break your business. A good domain name that your visitors can relate to your business is sure to create a good impression. On the other hand, a bad domain name could drive your visitors away from your website. For example, if you sell baseball gear and your domain name is BigTony.com, you might confuse your customers. However, if it is AffordableBaseballGear.com then you are more likely to catch their eye. They will also be able to know what you’re selling right away!
  • A good domain name will help in SEO. If your domain name includes target keywords, your website is more likely to get better rankings.
To help you choose a domain name, we have come up with the following tips. We hope it helps!
  • Make sure the domain name has the keyword that relates to your website
  • The domain name you choose much be short so that it is easy for your visitors to remember and type
  • Avoid using hyphens and numbers
  • Ensure the domain name identifies your area
  • Choose extensions depending on your area and that fits your business
  • Go for an easy domain name that is memorable
  • Make sure it is unique
  • Doubled letters could be confusing, so it is wise to avoid them
  • As soon as you decide, get the domain name before someone else gets it
  • Go for a domain name generator to generate ideas

Final Thoughts

We have come to the end of our journey. We hope that you feel more confident about what a domain name costs and how all the factors can affect the pricing. We leave you with a recap on our tips on buying a domain name.

  • The cost of domain names depends on the domain name you choose and the TLDs.
  • It also can be greatly affected by what domain registrar you buy from.
  • If you are setting up a new business and getting a domain, make sure you do your research and get a domain name that relates to your website.
  • Do not choose a domain name that is confusing or off topic
  • Use a domain name that explains what your business is
  • Look into SEO keywords that explain what your business does AND will double as a keyword that is ranked in search engines.

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