Ever since Al Gore "invented" the internet, people have been figuring out ways to make money from it. That's part of capitalism and there is nothing wrong with looking for ways to meet the demands of consumers. The internet has provided many ways to generate revenue that we couldn't have imagined before 1994. One of the ways is called "cybersquatting." This is the word that has been coined to describe someone that has acquired a web domain with the hopes that someone will want that domain in the future. It's a fairly inexpensive gamble and can be highly profitable. As the internet has grown the availability of domain names has changed dramatically. There are several important considerations when choosing a domain for your business or organization:
1. Is it memorable? Use the KISS (keep it simple silly) method for best results.
2. Don't get too cute. Using a creative spelling of your name can often work against you as generic searches typically don't include words spelled outside of the norm.
3. Does the name reflect what you do or the product you sell? Unless you have an unlimited budget for marketing to drive traffic to your site, it is usually best to use a domain name that helps Google find you by including one or two keywords that either explain what you sell, or where you sell it.
4. What if the domain I want is already owned by a cybersquatter? Like anything else, everything is negotiable. Your web designer may be able to negotiate a price or suggest alternative domain names that will satisfy your requirements. If you have your heart set on a domain that is already owned, you may have to pony up or keep an eye on the domain to see if the owner loses interest in it.
5. Think about variations of your domain name that you might want to acquire that will forward to your website. Many businesses have multiple domains. Tracking which domains are being used to find you can be useful in determining your overall marketing strategy. Who knows, someone might want to purchase one of your domains in the future!