4 Dangerous Myths About Domain Names That Could Cost You Millions: "Social media replaces websites?" "Extensions don't matter?" We debunk the most common and costly misconceptions about domain names in the modern business era. Keywords: Domain name myths, social media vs website, SEO misconceptions, new gTLDs effectiveness, business branding mistakes.

In the boardroom and on business forums, misinformation spreads fast. At Domavest, we often have to "deprogram" clients who have fallen victim to common myths about digital identity. Believing these falsehoods can lead to missed opportunities, legal nightmares, and lost revenue.

Here are the 4 biggest myths we need to bust right now.

Myth 1: "I Don't Need a Domain, I Have Social Media."

Reality: You do not own your social media audience; you rent it. Instagram, TikTok, and LinkedIn change their algorithms constantly. You can be banned, shadow-banned, or lose your reach overnight. A website on your own premium domain is the only digital real estate you truly own. It is your "Home Base." Social media should be the funnel that drives traffic to your domain, not the destination itself.

Myth 2: "The Extension Doesn't Matter (.net/.co is fine)."

Reality: It matters for "Traffic Leakage." If you launch on MyBrand.co, and you become successful, your customers will type MyBrand.com. If you don't own the .com, you are literally sending your customers to an error page or, worse, a competitor. We call this "The .com Bleed." You will spend money on ads, only to have the user intuitively navigate to the .com version.

Myth 3: "Premium Domains Are Too Expensive."

Reality: They are expensive assets, not expensive expenses. A $5,000 marketing campaign is an expense; once the ads run, the money is gone. A $5,000 domain is an asset. It sits on your balance sheet. It can be resold. Often, it appreciates in value. Furthermore, amortized over 10 years, a $10,000 domain costs $83/month. That is cheaper than your office coffee budget.

Myth 4: "Long Domains are Better for SEO (Keywords)."

Reality: This is 2010 thinking. In the past, Best-Plumber-In-London.com might have ranked well. Today, Google's algorithm prioritizes brand authority and user experience (UX). Long, spammy-looking domains have a low Click-Through Rate (CTR). Users trust brands, not keyword strings. A short, authoritative name like LondonPlumbing.com builds trust, which in turn builds long-term SEO rankings.

Conclusion

Don't build your business on a foundation of myths. The data is clear: Companies that invest in high-quality, authoritative .com domains perform better, retain more customers, and exit at higher multiples than those that cut corners on their identity.