Domain names are more than just a digital address for your business. They are a crucial part of your brand’s identity and play an essential role in everything from email communication to eCommerce. Hence, businesses often find themselves competing for the perfect domain name. Many successful businesses today employ “Global domain name managers” – individuals with years of expertise and a deep understanding of intellectual property matters.
With the ever-increasing global internet usage, the process for registering a domain name has become more complex. With a finite number of meaningful words and phrases in our language, brand names have evolved to be more than just unique monikers. They now require an understanding of intellectual property rights, legal aspects, and sometimes even a dash of good fortune.
1. First things first, your math game needs to be strong
Domain names have a spectrum of character length, from a minimal three to an expansive two thousand five hundred and three, hyphen included. This diversity ensures a plethora of unique combinations available for registration, running into the billions.
You can register domain names for a period ranging from one to ten years, despite some registrars offering more restricted terms. These domain names don’t stay valid indefinitely and can be reclaimed if the owner doesn’t renew them. Given the brand reputation and SEO value at stake, companies can’t afford to gamble with their registered domains.
Interestingly, most domain names are still functional even after a couple of years. It’s not uncommon for hackers, not the original companies or customers, to own a substantial number of currently registered domains. They’re often ready to sell these domains on the secondary market to make extra bucks. Hence, it’s not unusual to find individuals with over a hundred domains, hoping to strike gold by selling them. This is because domaining can be a lucrative business, where the right domains can fetch millions due to expected high demand.
2. The domain market is showing no signs of losing momentum
The data shared by ICANN’s Open Data Platform paints a fascinating and enlightening picture. It suggests an array of factors contributing to the growth of the domain and domain name landscape, such as:
The market is intensely competitive: from the selection process by the registrant, acceptance of domains, marketing strategies employed by service providers, to the rivalry among these providers. All these factors have contributed to an escalating demand and competitiveness, thereby keeping domain names in high demand. And let’s not forget the increasing number of businesses transitioning their operations online every year.
The adherence to regulations by service providers and their attentive response to customer needs have ensured the longevity and vitality of the domain market. This has fostered stability within the market. Consequently, the market has been on a steady growth path and has maintained a positive trajectory.
You, as a customer, can rest easy knowing that your service providers, along with their dedicated support teams, are always on guard, ready to protect your data and other valuable assets during a crisis. This trust-building process has led to a surge in the level of confidence you have in your service providers.
Now, let’s talk about the new top-level domains (nTLDs) that were rolled out in the past few years. Some, like .GQ and .MEN, were met with a cold shoulder. Others, like .LOL and .LIVING, struggled to gain traction. But then, there are the ones like .IO and .CLUB that have flourished, thanks to customers like you who understand their worth. As more top-level domains (TLDs) are introduced, the possibility of domains and domain names going out of fashion or vanishing altogether seems quite low. But, there’s always a sliver of a chance.
In Conclusion
If you’ve followed this far, you probably understand why domain names, or even domains themselves, can never truly disappear or run out. Sure, the popular ones might get snapped up, but there’s an endless supply waiting in the wings. Having said that, if you want to register a domain, please do so at your best with a fine provider in the marker. Also, in case of any feedback, please leave the same in the comments section below.
