How Important is a Domain Name?

A domain name is a unique name for a WebSite. It is most frequently used for URLs - that is, we type it into the address bar at the top of a browser. The underlying architecture of the internet uses numeric IP addresses to identify WebSites, but as the average person has difficulty remembering large series of different numbers, we use easy to remember domain names instead. So instead of telling someone, "My WebSite is at 208.77.188.166, check it out," you may say, "My WebSite is at www.example.ws, check it out!"

Wonder how many domain names are registered out there? Here are some recent stats.

.com - 72,030,416
.net - 10,659,956
.org - 6,384,488
.info - 4,954,131
.biz - 1,908,317
.us - 1,379,472

As you can see there are a lot of domain names: millions in fact! .Com is the most popular, with the result that it is very difficult to get the .com domain name you want. Even .biz and .us have well over a million names off the market. One not mentioned above is .WS. Originally designated for Western Samoa, this small pacific country realized it could put its domain extension to broader use. It entered into a licensing arrangement with Global Domains International to sell the extension on the worldwide market and remarket .WS as "WebSite," much as .com stands for commercial, and .biz for business.

How much is a domain name worth? Well, some domain names have sold for more than $100,000. Those days are behind now that there are more available endings, like .org, .biz, and .WS. However, a two letter domain may still go for $50,000 or more. How much is a domain name worth to an internet business? It's debatable, but most agree that a WebSite with a poorly thought out domain name will not perform as well as a WebSite with a great domain name. Some domain names are instantly associated with certain things - for example, it doesn't take a genius to figure out .nyc.com would stand for New York city. Take the time when creating a domain name to ensure it is easy to remember, easy to associate with your WebSite, and catchy.

If you are struggling to find the domain name you want because it's already taken, .WS is a great option. Take advantage while you still can.