by Greg Zuckerman | March 20 2017

How ‘Cheap’ are Domains for Your Business?

So, you've decided to finally get a domain for your business, but you want to spend as little as possible. What are your options?

While it's critical for every business to have a good domain for their websites, going the "cheap" route isn't always the best option. Your domain will effectively become the online identity for your business. The better your domain, the more power it can have over your credibility and even your sales. This is why many organizations make the decision to invest more by purchasing a premium domain, rather than "hand-registering" a less attractive option that’s available to the general public. With the right strategy, a good premium domain can effectively pay for itself over time.

That being said, not every business can afford to shell out the big bucks for a premium domain, which can range anywhere from a few hundred dollars to millions. If a publicly-available domain is your only option, there are a few ways you can ensure you're getting it as cheaply as possible.

How cheap?
Let's start with the basics. Your average domain is typically going to cost you a yearly registration fee of about $10 to $15. At GoDaddy.com, for example, a .COM costs around $11.99. At some registrars, like Network Solutions, the domain can cost up to $30 or more, because it includes a hosting package or other service.

Your domain is renewable each year, or it can be registered for several years in advance. Most registrars also offer the option of auto-renewing your domain each year, using your saved credit card information, which is a good way to prevent your domain from accidentally expiring.

The multi-year deal
Here's a little not-so-secret way to get your domain for even cheaper.

Many registrars now offer an incentive for registering a domain for two or more years. In many cases, when you register for more than one year, you can get the first year of registration for only a few dollars (and sometimes for free).

If you know you'll be using the domain for more than one year, then this deal is a no-brainer.

Additionally, some registrars will offer additional savings for registering even more years. In some cases, the rate of registration decreases with each additional year you register.

Hedging against future price increases
Another reason to consider registering for the long term is that registration prices could go up at any time. By registering for several years, you effectively lock in the price that was offered at the time of registration. Conversely, if you register for one year at a time, you could end up paying more if the registrar increases its prices.

Promos
Promotional codes for the biggest domain registrars online aren't hard to find. Some registrars will offer a discount simply for subscribing to their email newsletter. So before you buy, take a few minutes to search the site (and the web) for current promotions.