Should you renew your domain name? 2015-10-20
If you own several domain names, then sometimes you are going to have an answer the questions: what is my domain name value? Should I renew this domain name? How do i do this? Well, as someone who owns a considerable amount of domain names, we frequently have to make that decision on a regular basis–and have come up with our own internal checklist that helps us decide whether or not we should renew a domain name. Domain Name Value is all too often something that is confusing. Here are fourteen questions to ask yourself to help you decide on whether your should renew your domain name or not.
What is the current status of the domain name? Developed or Not Developed?
If the domain name is developed, meaning that there is a live website on it, and it’s in use, then most likely you should renew the domain name. If you have spent any time adding unique content on the website, then most likely it is profitable–or can be profitable. There are ways, after all, to monetize just about any website out there–and developed websites have value. If you are not planning on continuing with working on the website, then perhaps you should consider selling it to a third party. In any case, if the domain name is developed, I would renew the domain name and sell it to a third party. Another option would be to redirect it to another existing website that you own.
Do you plan on developing the domain name?
If you have plans on developing the domain name into a live website, then I would tend to want to renew the domain name. If you lose it, then it will be more costly to get it back later on.
Is the domain name profitable?
Remember that you a domain name only has to make about $.03 cents a day in order to remain profitable (to cover the average $10 per year registration feed). Even if the domain name is not developed, it can be parked at any one of numerous domain name parking services. If you own any domain names that are not currently developed and they are not parked, then you are missing out on potential revenue. Most domain name parking companies do not charge you for parking your domain name with them. All of my domain names that I own that are not currently developed are parked–allowing the domain name to literally “pay for itself”.
Is the domain name valuable? What is the Domain Name Value?
Does the domain name itself–without any content on it–have value? Does the domain name have real value or is it really something that you HOPE will have at some point in the future? There are a few ways to assess a domain name’s value. You can go to these sites and put in your domain name and see its value. These tools only really give the value of a domain name based on external factors such as the demand for certain keywords in the domain name as well as current CPC (Cost Per Click) values. If a domain name has content and visitors, then the value of the domain name would only be higher than what is shown.