Money makes the world go round. But if we want our world to keep on going, we need to be careful about our money.
And by careful we mean save it. And by save we don’t mean settle.
The quality of service needs to be there — ALWAYS.
Nevertheless, here we will give you some basic information on domains and how to save money buying or renewing them.
With little effort, you can easily save a good amount of money — probably more than you expect!
Domain names — what are they?
If you are interested in the online world and all the possibilities that it offers (and since you are reading this, you probably are), you’ve heard about domain names.
Simply put, a domain name is a website’s address that a DNS server translates into an IP address in order to take us to a site.
As such, it is a unique string of numbers and letters that people type in the browser URL bar; for example, https://www.google.com.
However, domain names are more than just a name.
A good domain name can save a business, bring in new customers and consequently increase revenue.
They give businesses a brand.
Furthermore, a domain name can increase the visibility of a business.
Having our own domain name makes us a part of the Digital Revolution, and it suggests that we’re in with the emerging technologies; that we’re forward-thinking individuals.
What’s more, having our own domain name will certainly put us ahead of our competitors.
If it matches our company’s name, customers will find it easier to remember and will return.
In essence, having our own domain name makes us look professional, and it gives credibility to our business.
Therefore, before we buy one, we have to choose our domain name wisely.
Buying a domain name
When buying a domain name, we will find a lot of different options to choose from.
Nowadays, there are countless domain name registrars.
More specifically, we are buying a domain name from a company that is accredited by ICANN (Internet Corporation for Assigned Names and Numbers) to sell domain names.
ICANN ensures the uniqueness and validity of every web address.
Prices can vary; they can go as low as $1.99 or as high as $1 million.
It all comes down to the name we want to use.
After some research, the conclusion is that most registrars offer similar prices.
For most customers, though, it won’t exceed $20 per year.
That doesn’t mean there aren’t ways for us to lower that price and save some money.
Always be on the lookout for coupons.
A simple Google search will find us all the promotional codes we need, and we can end up paying $1.29 for a domain name.
Now that’s a bargain!
A lot to choose from
Let’s look at some options, shall we!
There is Google Domain, a great tool for finding domains that also meshes well with Google’s email services.
It is a user-friendly, reliable option; however, for a .com domain name, we would have to pay $12 per year.
That’s not cheap — we could certainly pay less somewhere else.
But here we would have a truly secure company that is transparent with what they charge.
We would get what we paid for.
Another great option is Namecheap. As the name suggests, Namecheap is cheap.
It offers a simple service, without bells and whistles. Furthermore, prices are competitive; we’d have to pay $8.88 for a .com domain name.
Meanwhile, for obscure extensions (.us, .men, .faith, .cricket, etc.), rates are even lower — only $0.88 per year.
Of course, we can’t talk about registrars without mentioning GoDaddy, a trusted brand in the industry and the largest domain registrar.
GoDaddy holds over 30 percent of the domain registry market share.
With it, we can have our .com domain registered for as low as $9.99.
Still, even though purchasing is easy, prices will rise after the initial purchase — but more on that later.
Besides Google Domain, Namecheap and GoDaddy there are also: Hover, 1 on 1, iPage, Name, etc.
They are all viable options to consider.
When buying a domain name, the most important decision is the company that we go for.
Above all, we need to do our research on the registrar before utilizing their service.
We should pay attention to customer reviews and look for hidden fees.
Even though it seems like a waste of time, it is necessary to read “Terms of Service.” Only then will we know what to expect.
Typically, we lose money on auto-renewal and transfer out charge.
Those extra fees can be up to four times the amount of the original registration.
Also, we should remember to never let ourselves be fooled by promises; they can turn out empty.
Buy hosting and get a free domain
Now let’s imagine that we are creating a website for a new business.
What will we need?
For starters, we will need a hosting company and a domain name.
A hosting company is in the business of providing the computer equipment and software for a website on the Internet and making it available for people to see.
Imagine a hosting company like a home where our website lives.
A good option would be a hosting company that offers a free domain alongside a hosting package.
There are companies like BlueHost that offer just that.
BlueHost provides various hosting plans, and they all include a free domain.
For example, their basic plan is available for an exclusive discount price of €3.47 per month.
Thus, getting our hosting and domain at the same place is absolutely the easiest way to save a substantial amount of money.
Should we renew our domain name?
We have a domain name, and we have a great hosting plan, but the registration is up.
Should we renew?
The prices of renewal are usually much higher than the original price.
For instance, GoDaddy charges an exponentially higher price after initial registration.
Ordinarily, we would have to pay around $13 to renew a .com domain.
For this reason, it is important to always check the renewal price of the company before buying a domain.
Additionally, always watch out for auto-renewal.
In case we forget to cancel, we will be automatically charged the higher price.
So we need to be careful, as we can easily get ripped off.
To summarize, if we choose a 1-year plan, we will end up paying more in the following year.
Therefore, if we have the opportunity and the means, we should go for a longer registration period.
We will initially pay more, but in the long run, it will pay off.
When it’s time to renew the domain name, our smartest move is to go for a different provider.
Transferring our domain name to a new registrar is the cheapest option.
And they will welcome us with open arms. To lure in new customers, they will offer lower prices and a much better service.
The process of transferring may seem like a hassle, but in reality, it’s just a couple of steps.
It doesn’t matter why we’re transferring — the steps are always the same.
First, any lock on our domain registration needs to be removed.
Then we need to get the domain authorization code.
Finally, on the new registrar, we should find the domain transfer option, add the domain with the code and start the transfer.
Domain transfer is not instant; it can take between 2–14 days for it to end.
However, our website won’t go down while the transfer is ongoing.
What’s important to know, though, is that some domain registrars won’t permit a domain transfer for the first few months.
In addition, there are time issues that mustn’t be ignored.
For example, if the transfer doesn’t end before the domain expires, it will be denied.
So it is recommended that we initiate our transfer in a timely manner in order to avoid any potential problems.
The only situation where a transfer can become tricky is if we have many registered domain names.
Some people have multiple domains and transferring them can prove challenging.
Therefore, buy domains only if you have an achievable and realistic plan for what to do with them.
Understandably, it is tempting to buy impulsively.
But we should try to avoid overbuying as it can bring us more harm than good.
To summarize, here’s how to save money buying or renewing domain names:
- First and foremost, do your research. Be thorough and don’t skip anything. The more you know, the less likely you will get scammed. So don’t buy before you familiarize yourself with all the conditions.
- Get a free domain from a hosting provider.
- If you’re buying a domain, always use coupons.
- When it’s time to renew a domain name, the best thing to do is transfer to a new provider.
In the Digital Age, being a savvy user of the digital space is a must.
Trying to navigate through it can be challenging and even discouraging at times, but don’t give up.
With patience and some research, you will find your footing in no time.
Remember to carefully weigh all your options and only then pick the best strategy that will work in your favor.