This is a great question and I see how so many people doing wrong here. I like to point out Michael Cyger (at Domain Sherpa) words then he explains that on Youtube.

“If you use social media networking sites for your business,you face a huge risk of losing your company`s entire reach. Instantly and no warning.

Social media giants such as Medium, Facebook and Twitter are powerful tools for marketers. But you have no control over changes they make.When content display rules are altered, you risk wasting time, money and effort because you can`t reach your hard-earned audience the way you once could. You may not even be able to reach them at all.

"Twitter, LinkedIn, Medium and Facebook have all significantly changed their rules in the past year, hurting thousands of businesses and making it less a question of “if” your business will be affected and more a question of “when”. Understanding, this is key to taking control of your audience and your brand. Focus on what you own, which starts with your domain name."

"Social media sites such as Facebook and Twitter bring many benefits for businesses. They allow companies to reach millions of potential customers anywhere and anytime, through ads and content. With 2.23 billion active users per month, sites like Facebook are hard to ignore. Businesses find millions of potential customers all in one place with social media. They are easier to interact with too: users are in a comfortable environment, so following or engaging with your company brand is easy. It`s the reason why more than 70 million businesses have dedicated Facebook page."

"Yet social media sites come with big risks. Businesses have no control over how interactions are managed. At any time, the number of people who see your branding efforts and the way in which they see them can be completely changed. This is particularly true for businesses who ONLY have a business Facebook page, such as coffee shops and restaurants. By placing all eggs in one basket, you open up your business to a lot of risks.”

“Relying on third-party social media websites and networks to grow your reach makes you 100% vulnerable to losing your entire reach. Go ask MySpace or Second Life how that worked out for them.”

“Facebook used to allow companies to reach 100 percent of the people who like their page. In 2012, they restricted the organic brand to reach about 16 percent. In late 2013, they restricted it even further. Now, a recent Ogilvy study shows that as little as 2 percent of a brand`s Facebook fans actually see brand posts.”

And suggestions

“Instead of building your business on someone else`s content platform, spend your time building a website and email newsletters list through your domain name, where you ALWAYS have control and set your own rules.”

“The one place that is constant and safe from unanticipated changes – that your customers can rely on AT ALL TIMES – is your own website and your own domain name.”

I would say, build your brand on any social media sites you want, but direct them through your website and on your website, what is yours. Then it does not matter if some social site is going down, people still can reach you.

We have more than 1.3 billion websites on the internet and there is a good chance that the one you are looking for is taken already.

Research your domain name carefully using domain name generators, keyword searches, and trademark searches to be sure that it avoid other existing uses, which could lead to legal action and you need to start over again.

What about my own name domain?

You need to own your name domain and there are several reasons why. It is great for personal branding, online portfolio or a hub for multiple sites you own. Maybe you are doctor, advocate, celebrity or some kind of public figure, this is a great way to represent you on the web. Your name domain clearly advocates your authority.

Example: www.yourname.com

I have done several mistakes above and paid a lot of money for that so I hope you are wiser now. Hopefully, this article was helpful to you. Any questions, feel free to contact me.

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