It is necessary to register your domain name in order to maintain some sort of reliability.
Once a domain name has been associated with your business, it is important to keep it registered, as it becomes the point of interaction between you and your clients.
A domain name in a way represents brand name that is associated with your online presence. The platform on which marketing and promotion is based on is how much your clients or users can remember about brand name. Depending on that, they can also recall the products and services provided by you.
The cost of registering the domain name is very low, just anywhere from $1 USD to $3 USD per month. You can register your domain name through hosting company, which provides you web space, or directly by yourself.
There are many registrars available in the market such as GoDaddy.com, Dotster.com or Register.com. You should consider registering related domain names in order to prevent cybersquatting. Another factor is always try to choose keywords with lots of caution as they will help in future search engine optimization of the web site. A domain should be relevant to the business activity and should not be used only for making domain name keyword rich.