There are a number of common SEO misconceptions or myths. Some of these include the belief that SEO is all about stuffing keywords into content, your keyword density, that link building is the only important SEO tactic. And many, many more, but let's first talk about domain names.
I'll start off by saying you can rank any site with any domain name. Within reason. Names should be memorable and easy to remember, and that isn't an SEO thing.
Listen on to get an idea of why you don't need an exact match domain, and why it is better to consider the branding aspect than a descriptive aspect of your domain.
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