No one can deny the fact that the internet is here to stay forever and the businesses that do not make the most of this resource would be missing out on the biggest business opportunity ever presented in the world of trade and commerce. When one decides to set up a new internet business, the first consideration that should come to mind is to buy a domain name to establish a website for the business. The normal scenario for selecting a domain name is to choose a name that goes well with the business and then search for its availability.

An effective way to speed up your business is to put it on line, get a website and reach out to as many people as possible. You need not over stretch your budget just to get a fancy new domain name for your website. In fact, you have no reason at all to put off getting a website and taking your product or business places. There are plenty of existing domain names available.

But why would you want to buy an existing domain name? Well does make sense especially in these hard economic times. The number one advantage of buying an existing domain name is of course the price. They come much cheaper than the brand new ones, don’t hurt the wallet as much and serve the same purpose.

The other reason to root for an existing domain name is that it already has some traffic directed towards it. That’s something you can use to your advantage. With well thought out promotion campaigns this traffic can be all yours. In any case an existing domain name will not have zero traffic as compared to a fresh domain name!

It only gets better now. Think from the point of search engine optimization. If the previous domain owner has put in even a little time and effort on search engine optimization, you, the new domain owner, stand to gain. Of course, the time that a domain name takes to work its way with the search engines differs from business to business but someone has already done the leg work for you. You already have a foot print. Just by using targeted keywords you can get a decent enough ranking. Compare that to a situation with a new domain name where you have to start from scratch.

In the present day internet market environment, it is almost impossible to find an unregistered domain name that is catchy and short and something that you like. Most of the good names are already taken. So you end up with a very limited list of names to choose from for registration. The best and only way to acquire a great domain is to purchase an existing one.

But before we get all starry eyed about existing domain names and rush off to the registrar there is a flip side to using these names as well. Remember to check the popularity of the domain name so that you get an idea about the traffic that it will draw. Also check if the existing domain name was banned any time. If it was, then find out why. What products and services did it deal with? This is just to make sure that you get a good domain name and don’t end up with a liability that will haunt you forever.

Domain names provide a recognizable representation to an IP addresses. These are used in URLs so that one can familiarize oneself with a web page and recall it instantly when required. The significance of domain names cannot be overlooked at all because they also improve the rankings of a website on search engines. But domain names need to be renewed. Business owners would lose their domain name rights if they do not get them renewed within the stipulated time. A number of people actually wait for domains to expire as this gives them an opportunity to get a popular domain names at a cheaper price. If you have put in a lot of work on your website through search engine optimization and obtained higher rankings and regular traffic, it would be a waste to see all that being passed over to someone else for a bargain, just because you were not careful enough to renew your domain name on time.

There are a number of agencies that can help you in your domain renewal process. So there is really no need to worry about doing everything yourself.

Guidelines for renewing domain names

Follow these steps to renew your domain name:

Check the current status of the particular domain name. Make a note of the expiry date.

When it is time for renewal register an application for the renewal of the domain name. The procedure of filing this application may differ from country to country. Check out the local rules and regulations.

The renewal period may also differ depending upon the payment made while booking the domain name.

Different companies charge different rates for the renewal exercise and you can pick the preferable option as per your requirement.

If you are going for renewal procedure, you may also want to consult a domain name registrar.

If a domain name has expired and acquired a status of redemption you should renew your domain names.

If you want to find the exact date of expiry of the domain name you can search using the WHOIS domain name search.

Visit the control panel for any kind of assistance regarding this. You can also get a lot of valuable information here.

If available use the auto renewal service.

Use bulk domain registration if you have to register multiple domains simultaneously.

Always keep a note of the registrar of the domain names.

Use a secure password and make sure you use different passwords for different websites.

Domain records should contain updated information. The mailing address will also have to be updated so that up-to-the-minute information can be accessed through this address.

Use domain locking to keep your domain renewal practice safe from unauthorized access.

Once you have made a decision to acquire a domain name for your business, keeping a track of your domain names and ensuring that renewals are made as required is in the interest of business continuity and sustenance.