What is a premium domain name? This is a question asked by most people looking to start a website. If you’re debating on whether to start on a premium domain or not, or are just confused why you should even care, read on.
Estimates vary, but relevant data suggest that there are more 1.8 billion websites. This means that a lot of domain names have already been taken. Some are in active use, while others are pretty much dormant.
But the thing is, some domain names are more desirable than others.
Premium domains cost significantly more than regular domains, especially because they are more memorable and brandable.
So, if you’re confused as to whether a premium domain name is better than a regular one, or can’t really make out the differences between them, no need to panic.
We’ll go over all the necessary details to allow you to make an informed decision.
Definition of a Premium Domain Name
So, what is a premium domain name?
Usually, already owned domain names—whether by individuals or companies—are off the market. However, some owned domains could be available for sale. These are premium domain names.
They cost significantly more than regular domains due to their perceived higher value. However, you should note that the high price only applies to the initial acquisition. Renewals will cost the same as every other name out there.
A domain name could be considered premium for a number of reasons.
Perhaps the owner isn’t using it, but instead of relinquishing the domain, they continue to pay for it. This is usually the case if it’s a name others are interested in. Some people even buy domain names they don’t intend to use, mostly with the intention of selling them at a markup.
Not all premium domains are set by individuals, though. Some registrars may keep aside certain domain names as premium, and charge higher prices for them.
A domain name could be considered premium because of its:
- Length: Shorter domain names are oftentimes more memorable and appealing than longer ones.
- Brandability: Unique and witty names that help readers understand the intended niche are usually considered valuable.
- Keywords: Some keywords are so popular that it can be hard to get high-quality new domain names that include them. “Tech,” for example.
When to Use a Premium Domain Name (And When Not To)
The main benefits of premium domain names is that they are easier to remember, shorter, and more brandable overall.
However, the main downside is the higher price, which could go up to hundreds or thousands of dollars. Contrast that with a standard domain name that will usually cost a meager $10 to $30.
At such exorbitant prices, you can’t buy premium domain names on a whim.
The decision is largely personal, based on a lot of factors. Eventually, you’ll have to decide whether or not the name is worth the cost.
So, if you’ve been thinking: “Should I buy a premium domain name?” ask yourself the following questions:
1. Does it Fit Into Your Budget?
It doesn’t matter how much you desire a particularly appealing domain name. If you’re going to go bankrupt acquiring it, you should probably rethink things.
2. Are There Similar Available Names You Can Use?
Before deciding to go for a premium domain, you should do some research. See if you can find a slightly different name that’s just as good.
3. Do You Want to Monetize Your Site?
If you do not intend to drive sales and make a lot of money, there’s probably no reason for you to invest in a costly premium domain name.
4. Is Attracting Traffic Important to You?
If so, then a premium name may be the way to go. They are witty and memorable and tend to bring in more visitors. They are great for your Search Engine Optimization (SEO) too.
It all depends on your end goals. If you intend to build a high-traffic site like an e-commerce store or any other kind of online business and generate significant revenue, a premium domain name could be worth it in the long run.
On the other hand, if you just want to create a small niche site or basic blog, you’re probably better off with a cheaper domain name.
How Choosing a Domain Name Typically Works
When building a new site, you have to choose a domain name. It’s one of the first things you need to do.
Choosing and registering a domain name is a simple process. You come up with potential names and then visit a domain registrar. There, you can check if the names you want are available using a dedicated tool.
The process involves trying variations of domains until you find a name you like and isn’t already taken. However, if the domain you want is already in use, you may want to consider premium domain names.
How to Buy a Premium Domain Name
Generally, you can buy premium domains from the registrar or from individuals.
1. Buying From the Registrar
These premium domain names aren’t actually owned by anyone. Nonetheless, they are sold at a higher price due to their desirability.
So you can purchase them from a regular domain registrar. While searching for the right name, you’ll find a lot of options at a variety of different domain name price points.
2. Buying Owned Domains
For domain names that are owned, you have two main options.
You can directly contact the owner. This means you’ll have to use domain lookup tools such as Whois.net to find information about a specific domain name.
You can also check out dedicated domain marketplaces. These are sites that list thousands of privately-owned domains that you can buy at set costs or make offers.
odys.global is one such domain marketplaces. However, all domains on display are owned by Odys, so you don’t need to deal with individual domain owners.
Odys domains are carefully selected domains acquired through auctions. Key metrics like domain age, traffic, and number of authority backlinks influence the domains we purchase.
The process of buying Odys domains is also really easy. All you need to do is:
- Request access to the platform: Odys is a closed platform, so you need to be granted access by an admin.
- Browse our collections: Once you’ve been granted access, you can then go through our collections of brandable niche domain names with SEO value.
- Make your purchase: Once you find a domain name you like, simply place your order, and that’s it. You become the proud owner of a new, premium domain name.
Behind the scenes, various situations affect the time it takes for a domain’s ownership to be transferred to you. Some services make the process easy, while others require a bit of back and forth.
At Odys, we generally work around the clock to ensure you get your premium domain’s ownership in approximately 24 hours after we receive your details.
Why Buy A Premium Domain?
There are so many reasons why you might want to buy a premium domain name:
1. Acquire The Best Domain Name
Premium domain names offer you a chance to get a near perfect name for your website. You might be lucky enough to find that the perfect name is unregistered. However, most of the time, it will already be taken.
2. Target Niche Keywords
Premium domains often provide you with the best keywords in your niche. This can be a significant factor in establishing your site as an authority.
3. Convert Visitors Who Skip Google
Not everyone searches for information through Google. Some people bypass search engines altogether and enter domain names they think will give them the information they seek.
A memorable domain that is easy to remember will ensure that you capture such visitors. They might be few, but in the business world, every customer counts.
4. Just a Startup Cost?
Starting a new project means you’ll incur many initial costs, and a domain name could be one of them.
If you find a premium name you think will be perfect for your brand and is within your budget, you should probably buy it. In the long run, you may come to thank yourself for spending the extra cash.
At Odys, our goal is to help you find the best possible domain within the limits of what is available, whether that’s brandable, high authority backlinks, or high-traffic domains.
To find that perfect domain name for your, head over to Odys.global and search for one today!
Premium Domain Names: Worth The Cost?
It’s one thing to answer the question: “What is a premium domain name?” But are they always worth the high cost?
On one hand, sellers set their domain name prices. On the other, businesses and individuals have different motivations to acquire certain domain names. So, there’s no universal science to determining the true worth of a premium domain.
That said, you can estimate how important the domain name might be for your business in the long run. Stats like domain age, brandability, memorability, traffic volume, and SEO value, amongst others are crucial metrics to consider.