Domain Name Registration and Its Multiple BenefitsDomain name registration is now underway, and many people are now jumping into the domain name registration pool. There are numerous reasons people have registered their domains, thus making this a hot business opportunity for many companies. Below is a brief discussion on how people register their domains today to ensure that they get a good market share in the future.
o Market share: As mentioned above, there will be more than ten billion domain names registered in the next decade. Therefore, if you want to ride on the web bandwagon and be ahead of the competition, you need to register your domain names before the first year is up. At present, there are three strong contenders for the top position, i.e. GoDaddy, Namecheap and WebSeminars.
o Better earnings: Nowadays, people prefer registered websites over the ones that are not. There is little difference between a dot-com vs. a dot-net or a dot-biz vs. dot-org. When you register your domain name registration, you are effectively locking your business website into those registrations. All those other websites will be registered in a few years, and you will be left behind.
o Branding: When you host within a private network, you are providing external visibility. Hence, it is better to register your domain name as a name that you are familiar with and have some authority. You do not want to risk the chances of being associated with a dot-com, which means you are not a guaranteed winner, and you will not become a brand. Similarly, you do not want to associate yourself with a dot-biz or dot-edu, which means you are not a guaranteed winner, and your brand will not become established. Hosting within a secured private network provides a guaranteed advantage for you.
o Better return on investment: Private domain names are cheaper, and they give you a higher return on investment (ROI) than shared hosting. This is because private domains are easily memorable. People who remember your real name will automatically type it in a while searching. On the other hand, when you host on a shared platform with the web, visitors might misspell your real name, which will result in your loss of traffic.
o Higher credibility: People are generally more trustful of bigger companies, and hence your business will gain credibility by associating your domain names with your corporate name. An ICP number with your domain name gives you the luxury of higher credibility. ICQ number or a UCP (Uniform Commercial Code) number is another way of establishing your brand. Thus, you can establish a hierarchy of brands or classifications, which is very important in cyberspace.
o Better returns: It is not impossible to earn money with your own business. But, be aware of cyberlaw as most of your deals will be governed by international laws and norms, and they could get you into trouble. One of these is the Non-Compliant Information Protection Act, which states that anyone providing false, misleading or inaccurate information and fails to comply with the requirements of regulations shall be punished. If you host in India, you need to comply with all the cyber laws specified in the Cyber Law Compliance Notice. So, registering with top-tier domain names with Indian companies will help you get better returns for your business. If you host your webinar in the USA, Canada, or the UK, you won't need to worry about cyber laws compliance notice.
You can check with the registrar regarding whether they will charge you a renewal fee. Most of the time, the renewal fee is non-refundable. But, it depends upon the type of registration you have done, i.e., Shared, Self-Owned, or Registrar, Contract, or Auction-VPX etc. If you are a reseller, you will be charged with higher renewal fee than what you would have paid to become a domain name registrant. Hence, make sure you understand all the pros and cons before making any decision.